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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Power Bank Market Trends
The evolution towards lightweight, advanced lithium batteries supporting fast charging represents a significant trend within the market. Advances in lithium battery technology, including lithium-ion (Li-ion) and lithium-polymer (Li-Po), have led to the development of batteries that are not only more efficient in terms of energy density but also capable of supporting faster charging speeds. Key players are also developing innovative power banks with 30,000 mAh battery capacity, power banks with triple charging ports, and power banks that support 24W fast charging. Besides, design innovations like matte finish and rugged and curved texture are further aiding the market development.
Market players in the power bank market are readily launching innovative power banks with enhanced capabilities. For instance, Samsung Electronics introduced two innovative power bank models in the South Korean market in March 2024. PD power bank is designed to cater to the needs of users who require extensive power supply on the go, whereas PD wireless charging power bank is designed for users who value the ease of charging their devices wirelessly.
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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