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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Power Bank Market Size
The global power bank market reached approximately USD 15.7 billion in 2023. The market is projected to grow at a CAGR of 6.70% between 2024 and 2032, reaching a value of around USD 28.1 billion by 2032.
Key Takeaways
- A power bank with a capacity of 10,000mAh is typically capable of charging a smartphone up to three times.
- Consumers and manufacturers alike are showing a growing preference for power banks made with eco-friendly materials.
- Significant advancements in battery technology, particularly in lithium-ion (Li-ion) and lithium-polymer (Li-Po) batteries, are shaping the market.
A power bank is a portable rechargeable battery that can be used to charge other devices when conventional wall plugs are not accessible. Power banks range from slim pocket sizes to large high-capacity power banks. They can be used to charge smartphones, tablets, Bluetooth devices, cameras, portable speakers, and other devices.
The growing adoption of mobile devices such as Bluetooth earplugs, tablets, smartphones, and cameras, among others, that need regular charging is supporting the power bank market growth. Power banks enjoy significant popularity as portable, compact, and easy-to-carry rechargeable devices to meet constant charging needs.
Moreover, flourishing smartphone penetration in developing economies has also fuelled the demand for power banks. Trends like remote work and the increasing demand for constant connection, communication, navigation, and entertainment are positively influencing the global power bank market development. The portability of power banks facilitates on-the-go travellers, professionals, and people living in areas with frequent power outages.
Power Bank Market Report Snapshots
Power Bank Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 15.7 billion.
The market is estimated to grow at a CAGR of 6.70% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 28.1 billion by 2032.
The market is being driven by the growth of the consumer electronics sector, increasing disposable incomes, rapid urbanisation, and government support towards digitalisation.
The key market trends are growing demand for portable and consistent power backup with multiple charging ports, increasing penetration of smartphones, and technological advancements like lithium-polymer batteries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of power bank are smartphone and tablets, cameras, and laptops, among others.
The major players in the market are Sony Group Corporation, Huawei Technologies Co., Ltd, Koninklijke Philips NV, Xiaomi Corporation, Samsung Electronics Co. Ltd., Panasonic Holdings Corporation, Lenovo Group Limited, ASUSTEK Computer Inc, Realme Chongqing Mobile Telecommunications Corp., Ltd., and Anker Innovations Technology Co., Ltd., among others.
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