Power Bank Market to reach US$ 15.2 Billion by 2027 | Growth rate (CAGR of 7.2%)

According to IMARC Group’s latest report, the global power bank market to reach US$ 15.2 Billion by 2027, exhibiting at a CAGR of 7.2% during 2022-2027.

SHERIDAN, WYOMING, UNITED STATES, October 26, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Power Bank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global power bank market reached a value of US$ 9.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.2 Billion by 2027, exhibiting at a CAGR of 7.2% during 2022-2027.

Power banks refer to portable chargers that are created for recharging electronic gadgets on the go. They are categorized into various types, such as universal/standard, solar, slim devices, pocket-sized, higher-capacity chargers, etc. Power banks are generally made from Lithium-Ion (Li-Ion) and Lithium-Polymer (Li-Po) batteries. The universal charger can be charged through conventional USB sources, whereas the solar ones use both USB chargers and sunlight. On account of their convenient nature, power banks find extensive utilization in charging several devices, including tablets, portable speakers, laptops, mobile phones, cameras, etc.

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Power Bank Market Trends:

The escalating shift towards 4G and 5G networks, the growing popularity of digital content, and the rising processing capacity of devices are among the primary factors driving the power bank market. Besides this, the elevating demand for tablets and smartphones and the declining prices of these portable chargers are further augmenting the market growth. Moreover, the introduction of new entrants in the manufacturing of power banks as advanced devices, on account of their increasing need for fast-moving consumer electronics that require low capital investment, is also catalyzing the global market. Apart from this, the development of new and innovative product variants, such as portable power strips with built-in wireless charging and the extension of online retail platforms for end-users, are acting as significant growth-inducing factors. Furthermore, these portable chargers assist in charging electrical devices during emergencies, are available at affordable prices, and are convenient to use, which is anticipated to propel the power bank market over the forecasted period.

Competitive Landscape with Key Players:

The competitive landscape of the market has also been examined with some of the key players.

Xiaomi Technology Co. Ltd.
Lenovo Group Ltd.
Microsoft Corporation
Panasonic Corporation
Sony Corporation
Adata Technology Co., Ltd.
Asustek Computer Inc.
Ambrane India Pvt. Ltd.
Anker Technology Co. Ltd.
Intex Technologies (India) Ltd.
OnePlus Technology (Shenzhen) Co. Ltd.
UNU Electronics Inc.
Samsung SDI Co. Ltd.

Key Market Segmentation:

The report has categorized the market based on product type, battery type, power rating and application.

Breakup by Product Type:

Portable Power Banks
Solar Power Banks
Battery Cases

Breakup by Battery Type:

Lithium-Ion
Lithium-Polymer

Breakup by Power Rating:

Below 3,000 mAh
3,001 mAh – 8,000 mAh
8,001 mAh – 20,000 mAh
Above 20,000 mAh

Breakup by Application:

Smartphones
Tablets
Portable Media Devices
Others

Regional Insights:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

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Key highlights of the report:                                                    

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Related Reports by IMARC Group:

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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