The global power bank market size is estimated to grow from USD 9.0 billion in 2020 to USD 15.4 billion by 2027; it is expected to grow at a CAGR of 8.5% from 20210 to 2027. The market estimation for the market sizing is evaluated with COVID-19 Impact Analysis and includes a detailed analysis across the different geographies. The 8001-20000 mAh has high-performance efficiency and longer battery life based on the power capacity. Li-polymer batteries are lightweight, durable, and flat in shape and hence have a higher demand. Moreover, the trend of rechargeable batteries for the production of batteries, along with the popularity of wireless power banks, is increasing the global demand. These trends would expand the global power bank market over the forecast period.
The increase in power consumption of smartphones and a decrease in the price of power banks are driving the global power bank market. Moreover, the incorporation of new and advanced technologies and the rising adoption of smartphones and portable devices integrated with higher power consumption units fuel the market's growth of the power bank.
In addition to electric power banks, various firms are manufacturing power banks powered by solar energy or hydrogen fuel cells. This aspect provides a range of opportunities in the global market. Growth in the acceptance of wearable technologies and a good distribution network will give rise to many growth opportunities.
The COVID-19 pandemic is causing turmoil in the market due to the major downturn in the supply chain of various businesses, decreased business confidence, and a rise in panic among the customers. The sales of leading companies are expected to be impacted in the future. The COVID-19 pandemic has resulted in a decrease in the overall growth rate. It could also impact the expected and planned investment in the market. Electronics manufacturing centers have been briefly shut down to reduce the spread of COVID-19 among individuals.
The report outlines the study of the global power bank market based on battery type, unit of USB, Indicator, capacity, energy source outlook, and application.
Based on the battery type, the power bank market has been segmented into –
Based on the unit of USB port, the power bank market has been segmented into –
Based on the Indicator, the power bank market has been segmented into –
Based on the Capacity, the power bank market has been segmented into –
Based on the Energy Source outlook, the power bank market has been segmented into–
Based on the Application, the power bank market has been segmented into –
The global market for Power Bank has been segmented into five regions, geographically, namely, North America, Asia Pacific, South America, Europe and the Middle East and Africa (MEA). The Asia Pacific is the largest and fastest-growing region in the global power bank market, North America and Europe. The Asia Pacific market is projected to foresee a substantial increase in revenue share over the forecast period due to the increasing number of users of electronic devices and the resulting growth in demand for power banks.
The global power bank market is highly fragmented, with a large number of small players across the globe. The key players operating in the global power bank market include–
The power bank market report provides a thorough analysis of macro-economic factors and the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players in the respective segment and region/country. The information concluded in the report includes the inputs.
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