Power Bank Market by Battery Capacity (Upto 5000 mAh, 5001-10000 mAh, 10001-20000 mAh, Above 20000 mAh), by Battery Type (Lithium-ion (Li-ion) and Lithium-Polymer (Li-Po)), by Portability (Mini Power Banks, Compact Power Banks, and Larger High Capacity Po

Power Bank Market by Battery Capacity (Upto 5000 mAh, 5001-10000 mAh, 10001-20000 mAh, Above 20000 mAh), by Battery Type (Lithium-ion (Li-ion) and Lithium-Polymer (Li-Po)), by Portability (Mini Power Banks, Compact Power Banks, and Larger High Capacity Power Banks), by Charging Technology Type (MagSafe or Wireless Charging Support and Standard Charging Support), by Number of Ports (1 to 2 Ports, 3 to 5 Ports, and More than 5 Ports), by Design (Standard Power Banks and Rugged Power Banks), by Display technology (Power Banks with Display Technology and Power Banks without Display Technology), by Compatibility (Universal Power Banks and Device Specific Power Banks), by Power Output (Less Than 15W, 15W-65W, 66W-200W, and More than 200W), and by Distribution Channel (E-commerce Or Online and Offline) – Global Opportunity Analysis and Industry Forecast, 2024 – 2030

The Power Bank Market was valued at $1.74 Bn in 2023, and is expected to reach $2.21 Bn by 2030, due to the rising e-commerce penetration.

Power Bank Market
Domain – Consumer Goods
Sub Domain – Consumer Electronics

The Power Bank Market size was valued at USD 1.74 billion in 2023, and is predicted to reach USD 2.21 billion by 2030, with a CAGR of 3.5% during the forecast period, 2024–2030. Also, in terms of volume, the global power banks market size was 47.13 million units in 2023, and is predicted to reach 74.76 million units in 2030, with a CAGR of 6.8% from 2024 to 2030.

The global power bank market is experiencing a significant surge, primarily fuelled by the increasing penetration of e-commerce worldwide. According to the Forbes, the global e-commerce market is estimated to be at an astounding USD 6.3 trillion in 2023, accounting for 21.2% of total retail sales. This remarkable growth in online shopping is a crucial driver behind the expanding power bank market. E-commerce platforms provide consumers unparalleled access to various power bank options, such as standard power banks, wireless power banks, solar-powered power banks, multi-device power banks, and fast-charging power banks, among others, catering to various needs and preferences.

Moreover, the growing 'work from anywhere' culture is significantly contributing to the expansion of the power bank market, as more professionals across the globe are transitioning to flexible working models. According to the Gartner report, 39% of global knowledge workers are said to work in a hybrid manner by the end of 2023, up from 37% in 2022. This increase in hybrid working is even more pronounced in specific countries. In the U.S., for example, fully remote and hybrid knowledge workers are estimated to be at 71% of the workforce in 2023. Similarly, in the U.K., these groups will represent 67% of the workforce.

However, the environmental impact of power banks, especially concerning the production and disposal of lithium batteries, is a significant factor restraining the potential growth of the power bank market. The manufacturing process of these lithium-ion batteries involves toxic metals such as cobalt, nickel, and manganese, which pose a substantial risk of contaminating water supplies and ecosystems if not appropriately managed.

On the contrary, the growing technological innovations in battery technology, particularly with the development and incorporation of graphene batteries is poised to create ample opportunities for the power bank market in the future. Graphene, known for its superior conductivity exceeding that of copper, is emerging as a revolutionary material in the field of energy storage and transmission. The application of graphene in power bank technology significantly enhances their potential, distinguishing them from traditional lithium-ion counterparts. Graphene-based power banks demonstrate a markedly extended lifespan, a pivotal attribute for consumer electronics.

Segment Overview
The global power bank market is segmented on the basis of battery capacity, battery type, portability, charging technology type, number of ports, design, display technology, compatibility, power output, distribution channel, and region.
 By battery capacity, the market is divided into upto 5000 mAh, 5001-10000 mAh, 10001-20000 mAh, and above 20000 mAh.
 By battery type, the market is categorized into lithium-ion (Li-ion) and lithium-polymer (Li-Po).
 By portability, the market is classified into mini power banks, compact power banks, and larger high-capacity power banks.
 By charging technology type, the market is divided into magSafe or wireless charging support and standard charging support.
 By number of ports, the market is categorized into 1 to 2 ports, 3 to 5 ports, and more than 5 ports.
 By design, the market divided into standard power banks and rugged power banks.
 By display technology, the market is classified into power banks with display technology and power banks without display technology.
 By compatibility, the market is classified into universal power banks and device specific power banks.
 By power output, the market is categorized into less than 15W, 15W-65W, 66W-200W, and more than 200W.
 By distribution channel, the market is divided into e-commerce or online and offline.
 By Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).

The Asia Pacific market is projected to hold the dominant share by 2030
The Asia-Pacific region is leading the global power bank market, holding approximately 49% of the global share, with China dominating as the largest market player. India is experiencing the fastest growth in the region, followed by Japan and Indonesia. The region's dominance in the power bank market is driven by several factors, including its role as a hub for consumer electronics research and development (R&D) and manufacturing. Countries such as China have extensive manufacturing capabilities and relatively low labor costs, making them global leaders in electronics exports. This manufacturing prowess directly correlates with the demand for efficient power bank solutions, bolstering the market through ongoing advancements in consumer electronics.

The rapid expansion of the e-commerce sector across the Asia-Pacific region further fuels the demand for power banks. Online retail platforms have made a wide range of power bank products accessible, allowing consumers to compare and purchase products conveniently. This ease of access, combined with the ability to compare a variety of products, has significantly contributed to the growth of the power bank market in the region.

Smartphone penetration and usage are other critical factors propelling the market in the region. Countries with high smartphone ownership, such as South Korea, Japan, China and India have a strong demand for advanced power bank features like fast charging and high capacity. The region's focus on adapting to consumer needs and embracing technological advancements positions it for continued expansion and innovation in the power bank sector.

Key Market Players
The key players in the power bank market include:
• Anker Innovations Co. Ltd.
• Xiaomi Corporation
• Samsung Electronics Co., Ltd.
• Guangdong Oppo Mobile Telecommunications Corp., Ltd. (Realme, OnePlus)
• Lenovo Group Limited
• Zagg Inc. (Mophie)
• Belkin International, Inc.
• Ambrane India Pvt Ltd.
• Baseus
• Veger Power Inc.

Recent Developments
December 2023
OnePlus and Sharge collaborated to create a power bank through the OnePlus Power of Community (POC) initiative. The new power bank is called POUCH and it is a is a 3-in-1 device that combines a power bank, charger, and cable in a unique design.

August 2023
Anker launched the Anker 335 Power Bank, featuring a 20,000mAh capacity, 1A1C dual USB connections, and a built-in mobile phone holder. The power bank is priced at 229approximately USD 31 in China and is also available internationally.

May 2023
Xiaomi launched a power bank named Redmi Power Bank with a battery capacity of 10,000 mAh. The power bank comes with dual input ports for USB Type-C and microUSB, dual USB output, and support for two-way fast charging.

KEY BENEFITS
• The report provides quantitative analysis and estimations of the power bank market from 2024 to 2030, which assists in identifying the prevailing market opportunities.
• The study comprises a deep dive analysis of the power bank market including the current and future trends to depict prevalent investment pockets in the market.
• Information related to key drivers, restraints, and opportunities and their impact on the power bank market is provided in the report.
• Competitive analysis of the players, along with their market share is provided in the report.
• SWOT analysis and Porters Five Forces model is elaborated in the study.
• Value chain analysis in the market study provides a clear picture of roles of stakeholders.