Power Bank Market Size, Share & Trends Report

Power Bank Market Size, Share & Trends Analysis Report By Capacity Range, By Distribution Channel (Online, Offline), By Battery Type, By Energy Source (Electric, Solar), By End User, And Segment Forecasts, 2018 - 2025

  • Published Date: Nov, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-486-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 100

Industry Insights

The global power bank market size was valued at USD 6.84 billion in 2017. It is anticipated to expand at a CAGR of 18.4% over the forecast peirod. This growth can be attributed to the increased adoption of smartphones and other electronic devices and decreased product costs. The number of smartphones in emerging markets, such as India, China, and Brazil, has significantly increased owing to the reducing costs of mobile technologies.

U.S. power bank market

This is likely to be one of the important factors driving gowth of the global market for power banks over the forecast period. Growing use of internet coupled with inadequate battery capacities of smartphones and other portable consumer electronic products is also anticipated to augment market growth.

In addition, increasing domestic production and assembly of these devices and the entry of new companies in the global market have led to a decrease in product prices. This will fuel the product demand over the next few years.

Power banks are fast-moving consumer electronics and demand less capital investment for setting up a manufacturing facility. The competition among manufacturers is anticipated to remain high over the forecast period. The global market is led by several regional and global companies.

Capacity Range Insights

Based on capacity range, the market has been segmented into up to 3,000 mAh; 3,001 mAh- 8,000 mAh; 8001 mAh-20,000 mAh; and above 20,000 mAh. The 8,001 mAh-20,000 mAh segment accounted for a market share of over 33.4% in 2017 and is expected to generate the highest revenue over the forecast period. Extensive digitization is the major factor driving the segment growth.

Global power bank market

The penetration of smartphones has led to an increase in data consumption. Smartphones have transformed into high energy-consuming devices, which constantly drain the power of a battery due to the usage of multiple apps for internet browsing, sending emails, personal entertainment, messaging, gaming, etc. The 8,001 mAh-20,000 mAh segment is expected to witness significant growth over the forecast period owing to the ability of these power banks to charge a device multiple time.

Energy Source Insights

The energy source segment has been categorized into electric and solar. The electric segment accounted for the largest market share in 2017. Electric power banks are inexpensive, lightweight, and compact devices that are easily available in the market. They are suitable for charging moveable electronic devices. These features are contributing to the segment growth.

A solar power bank is powered by the energy harnessed from sunlight. They are useful during camping trips, where electricity sockets are unavailable and charging equipment for emergencies is essential. Most of them can be charged alternatively using a USB. The demand for these devices is projected to increase in the coming years owing to the growing popularity of solar energy as an environmentally-friendly alternative. The solar segment is expected to record a CAGR of 21.4% from 2018 to 2025.

Battery Type Insights

The battery type segment is categorized into Lithium-ion (Li-ion) and lithium polymer (Li-polymer) batteries. The lithium-ion battery segment held the largest market share of 82% in 2017. Li-ion batteries offer numerous advantages, such as relatively low self-discharging, high energy density, and low maintenance.

On the other hand, li-polymer batteries are the most preferred, have flexible form factor, and are safe as compared to other batteries. They are flat in shape, lightweight, and moldable. These features enable electronic device producers to manufacture compact and sleek electronic products. Thus, this segment is expected to register at the fastest CAGR of21.0%from 2018 to 2025.

End User Insights

Based on end user, the global power banks market has been segmented into consumer electronics and industrial/B2B. The consumer electronics segment accounted for the largest market share in 2017. Factors, such as growing penetration of smartphones, extensive use of internet services, and need for higher battery capacity, have increased the product demand in the consumer electronics segment.

Industrial power banks are designed to be portable energy storage systems. They enable companies to operate for longer durations owing to the availability of “instant-on” power feature. Thus, these can be used as an instant power backup for operating industrial devices. Major considerations for meeting the operational needs of industrial users are performance, safety, and reliability. The industrial segment accounted for a market share of over 19% in 2017.

Distribution Channel Insights

Based on distribution channel, the market has been segmented into online and offline distribution channels. The online distribution channel segment is expected to witness substantial growth over the forecast period owing to rising penetration of the internet. This segment is expected to witness the highest growth in Asia Pacific over the next few years owing to the rapid urbanization.

India, China, and other Southeast Asian countries are witnessing rapid urbanization and industrial development. Moreover, high internet penetration and digitization in different industry verticals are further expected to propel the market growth in these countries. For instance, e-commerce companies, such as Alibaba and Flipkart, offered retail platforms for users to gain access to a wide range of products.

Regional Insights

The Asia Pacific region led the market in terms of revenue in 2017 and is expected to maintain its dominance even during the forecast period. Growing number of users of electronic devices, large-scale digitization, availability of affordable power banks, and penetration of e-commerce in the electronics industry are driving the product demand in this region.

China is a key market within Asia Pacific and increasing demand for power banks in the country has created opportunities for market growth on a global level as well. Fierce competition, rapid innovation, and R&D activities are a few factors boosting the China market.

Power Bank Market Share Insights

Some of the key companies in this market include Beijing Xiaomi Technology Co. Ltd.; Lenovo Group Ltd.; Microsoft Corporation; Panasonic Corporation; Sony Corporation; ASUSTeK Computer, Inc.; Anker Technology Co.; Intex Technologies; and Ambrane India Private Ltd.

Most of the companies are following various strategies, such as new product launch, to expand their business. For example, in November 2017, Xiaomi (China) launched Mi Power Bank 2i Range, which included 2,000 mAh Mi Power Bank 2 and 10,000 mAh Mi Power Bank 2.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Billion and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and MEA

Country scope

U.S., Canada, Mexico, U.K., Germany, France, Japan, China, India, and Brazil

Report coverage

Revenue forecasts, market share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global power bank market report on the basis of capacity range, energy source, battery type, end user, distribution channel, and region:

  • Capacity Range Outlook (Revenue, USD Billion, 2014 - 2025)

    • Up to 3,000 mAh

    • 3,001 mAh-8,000 mAh,

    • 8,001 mAh-20,000 mAh

    • Above 20,000 mAh

  • Energy Source Outlook (Revenue, USD Billion, 2014 - 2025)

    • Electric

    • Solar

  • Battery Type Outlook (Revenue, USD Billion, 2014 - 2025)

    • Lithium-Ion Batteries

    • Lithium Polymer Batteries

  • End User Outlook (Revenue, USD Billion, 2014 - 2025)

    • Industrial/B2B

    • Consumer Electronics

  • Distribution Channel Outlook (Revenue, USD Billion, 2014 - 2025)

    • Online Distribution Channel

    • Offline Distribution Channel

  • Regional Outlook (Revenue, USD Billion, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • Japan

      • China

      • India

    • South America

      • Brazil

    • Middle East & Africa (MEA)

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