The Power Bank Market size is estimated at USD 13.59 billion in 2024, and is expected to reach USD 20.35 billion by 2029, growing at a CAGR of 8.40% during the forecast period (2024-2029).
Major factors driving the role of power banks are the increasing adoption of smartphones and other mobile devices, along with the growing trend of remote work and e-learning. Moreover, the growing popularity of outdoor activities and travel has also contributed to the growth of the power bank market.
The Power Bank Market is fragmented due to the presence of many vendors globally offering power banks. The market does not provide major lucrative opportunities for new market entrants. Also, the existing players are launching new technology-integrated products offering features different from the competitors in the market. Further, the vendors plan to expand their power banks' usage to various end-user verticals.
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