A recent report published by Infinium Global Research on power bank market provides in-depth analysis of segments and sub-segments in the global as well as regional power bank market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional power bank market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global power bank market. According to the report, the global power bank market is projected to grow at a CAGR of 9.2% over the forecast period of 2019-2025.
Nowadays with new innovations, companies are attracting consumers. Anker Technology Co. Limited a global leader in charging technology launched new PowerPort Atom PD 2 having a total charging rate of 60W. The power bank manufacturers are focusing on new product launches, mergers, and acquisitions. These players have adopted strategies such as geographic expansion, product portfolio expansion, and collaborations to maximize their market share.
The growing demand for smartphones drives the growth of the power bank market. The use of the internet on smartphones and playing power consuming games drains the battery of devices that stimulates the growth of the power bank market. Power banks require less capital investment for setting up a manufacturing plant, which boosts the growth of the power bank market. Power banks are easy to use, portable and convenient. New advancements such as power banks based on solar and hydrogen cells stimulate the growth of the power bank market. In addition, battery problems occur in long distance traveling that boosts the need for power banks. Reduced cost of power banks contributes to the growth of the power bank market. However, the latest smartphones with advanced facilities of quick and wireless charging restrain the growth of the power bank market. Moreover, technological advancements create numerous opportunities for power bank manufacturers. The new innovative power banks have a smaller size and recharge with the USB port.
Asia-Pacific region is anticipated to be dominant in the power bank market. The increasing use of electronic devices, digitalization, and availability of cost-effective power banks contribute to the growth of the power bank market. China is having the highest number of mobile phone users that boosts the demand for the power bank market in the Asia-Pacific region. North America is expected to grow in the power bank market due to the rising adoption of a power bank by the consumers. Europe region has a healthy growth rate in the power bank market.
The report on global power bank market covers segments such as product type, port type, charging source, capacity, and distribution channel. On the basis of product type, the sub-markets include portable power banks, phone charging cases, and solar power banks. On the basis of port type, the sub-markets include standard, type c, and dc power jack. On the basis of charging source, the sub-markets include electric, solar, and hybrid. On the basis of capacity, the sub-markets include up to 5,000 mAh, 5,001 mAh – 12,000 mAh, 12,001 mAh – 20,000 mAh, and above 20,000 mAh. On the basis of distribution channel, the sub-markets include retailers, supermarkets, and online.
The report provides profiles of the companies in the market such as Beijing Xiaomi Technology Co. Ltd., Sony Corporation, Microsoft Corporation, Intex Technologies, Ambrane India Pvt. Ltd., Anker Technology Co., Samsung Electronics Co., Ltd., Panasonic Corporation, Intex Technologies, Lenovo Group Limited, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of power bank market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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