Power Bank Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Power Bank Market size is estimated at USD 20.10 billion in 2025, and is expected to reach USD 29.59 billion by 2030, at a CAGR of 8.04% during the forecast period (2025-2030).

Key Highlights

• The power bank market is demonstrating robust growth, driven by the increasing dependence on portable electronic devices such as smartphones, tablets, and laptops. The growing prevalence of remote work, outdoor activities, and travel has escalated the demand for efficient and reliable charging solutions. Advancements in technology, including fast charging, wireless charging, and higher battery capacities, are enhancing product competitiveness. The expansion of e-commerce platforms has further streamlined accessibility and boosted sales.
• Additionally, the rising adoption of energy-efficient and solar-powered power banks aligns with the preferences of environmentally conscious consumers. Emerging markets, particularly in the Asia-Pacific region, are significantly contributing to the market's rapid growth, supported by increasing smartphone penetration and urbanization.
• Moreover, with rising environmental concerns, the demand for sustainable and eco-friendly power solutions is surging. Power banks are joining this green revolution as manufacturers seek to lessen their environmental footprint. They're turning to recycled materials, biodegradable components, and advanced battery technologies. Some companies have taken the lead, crafting power banks from recycled plastics and other eco-friendly materials, thereby shrinking their products' carbon footprint. Solar charging technology is advancing, and solar-powered power banks are now enabling users to harness renewable energy for device recharges. This feature has garnered particular favor among outdoor enthusiasts and travelers.
• The presence of low-quality power banks negatively impacts the market by reducing consumer confidence and damaging brand reputation. These inferior products often lack essential safety features, creating risks such as overheating, short circuits, and explosions. The devices also demonstrate poor performance with reduced battery capacity and slow charging speeds, resulting in customer dissatisfaction. The proliferation of counterfeit and low-cost power banks affects market credibility and reduces sales of genuine, quality products.
• Macroeconomic factors significantly shape the dynamics of the power bank market. When the economy thrives, consumers have more purchasing power, boosting demand for electronics, power banks included. However, during economic downturns or recessions, spending on non-essential items, such as power banks, often declines. A robust economy usually sees a surge in demand for mobile devices and their accessories.

Power Bank Market Trends

Smartphone and Tablets to Witness Major Growth

• As modern smartphones boast high-resolution screens, powerful processors, and 5G connectivity, they increasingly support resource-intensive apps such as gaming, streaming, and navigation. This surge in capability leads to rapid battery depletion, highlighting the growing need for portable charging solutions like power banks.
• The significant smartphone penetration worldwide, notably in emerging countries, is emerging as a key driver for the demand for power banks. The global smartphone market sees a corresponding surge as consumers' lifestyles evolve. Despite rapid advancements in tablet and smartphone technology, battery capacities remain constrained, fueling a heightened demand for power banks.
• Additionally, data from GSMA reveals that North America led in smartphone adoption in 2023, boasting an 84% rate of total mobile connections. Projections indicate North America's smartphone adoption could climb to 89% by 2030, while regions such as Eurasia and Asia Pacific are poised for even more significant growth.
• Wireless power banks are becoming increasingly popular for smartphones and tablets. Market vendors are responding by introducing wireless power banks to meet the rising demand for convenient on-the-go charging. For instance, in January 2024, Urbn unveiled its latest lineup of power banks. The MagTag Magnetic Wireless power banks, available in 5,000 mAh and 10,000 mAh capacities, cater to both Android and iOS users. A standout feature of the MagTag is that it includes the MagTag ring in every box, designed to offer seamless wireless charging for both iPhones and Android devices, ensuring convenient charging.

Asia Pacific to Register Major Growth

• The growth of the power bank market in the Asia Pacific region is primarily driven by the increasing adoption of smartphones, tablets, and wearable devices, as these products necessitate reliable battery backup solutions. Furthermore, the convenience offered by power banks in ensuring uninterrupted device usage has significantly contributed to their rising demand.
• Further, the expansion of the e-commerce sector, which facilitates easy access to a wide range of power bank options, along with continuous technological advancements enhancing product efficiency and features, is strengthening the market's appeal.
• Social media platforms and influencer marketing have emerged as critical tools for promoting power banks through digital channels. These strategies are particularly effective in engaging younger demographics, fostering brand awareness, and influencing purchasing decisions.
• In 2024, IBEF projected India's e-commerce sales to grow by over 19%, boosting the market's revenue potential. The average retail e-commerce revenue per user exceeded USD 85, highlighting strong consumer spending. This growth has driven power bank sales, supported by rising demand for portable devices and accessories.
• Furthermore, the rising adoption of high-capacity devices, including tablets and laptops, is significantly driving the need for fast-charging power banks, as these devices require robust and efficient charging solutions to support their intensive usage.

Power Bank Industry Overview

The power bank market is semi-consolidated, with an array of products. However, major vendors such as GooXiaomi Corporation, Lenovo Group Limited, Panasonic Corporation, Koninklijke Philips NV, Sony Corporation, and many more are highly preferred power bank product providers across various applications in different countries.

With growing consolidation, technological advancement, and geopolitical scenarios, the studied market is fluctuating. In addition, with the increasing energy efficiency measures due to the ongoing energy crisis, the intensity of competition in the examined market is expected to continue to rise, considering their ability to invest, which results from their revenues.

Further, in a market where the sustainable competitive advantage through innovation is considerably high, the competition will only increase, considering the anticipated surge in demand from new customers. In addition, vendors expanding in the current market are further expected to increase the competition.

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• The market estimate (ME) sheet in Excel format
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