Portable Power Bank Market Size, Share, Growth, And Industry Analysis, By Type (3000 mAh, 3001 - 8000 mAh, 8001 - 20000 mAh and Above 20000 mAh), By Application (Smartphone), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Portable Power Bank Market Report Overview

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The global portable power bank market size was USD 13469.56 million in 2021 and market is projected to touch USD 24127 million by 2031, at a CAGR of 6.0% during the forecast period.

The term "power bank" refers to a portable battery that has a circuit to store energy from an input source and release it when needed. Due to the increased use of digital items, these gadgets are today extremely popular all over the world. Additionally, its distinctive qualities, such as mobility, versatility, fast charging, and low cost drive their demand among tech-savvy consumers. A power bank is the best choice to keep the gadget from shutting off in the event of a protracted power loss or an inconsistent electrical source. Power banks can be used to charge a variety of devices, including laptops, tablets, digital cameras, mobile phones, and other electronics.

The increase in sales of power banks on online portals and e-commerce websites, as well as the rise in demand for power banks for laptops and wearable devices, are the main drivers driving the growth of the global power bank market size, according to a power bank market analysis. On the other hand, the emergence of wireless power banks and the development of solar and hydrogen fuel-based power banks are predicted to provide a lucrative opportunity for the growth of the power bank industry.

COVID-19 Impact: Disruption in Supply to Hamper Market Growth

Due to a significant slowdown in the supply chains of numerous businesses, a decline in corporate confidence, and growing panic among specific client segments, the COVID-19 problem is causing concern in the stock market. The pandemic's overall effects are having an influence on several industries, including semiconductor and electronics manufacturing. Trade restrictions are further limiting the forecast for supply and demand. The overall production process is negatively impacted because governments from several nations have already announced total lockout and temporary shutdown of industries.

The COVID-19 is having a significant effect on the economy and the consumer. Manufacturing centers for electronics have been temporarily shut down to prevent the COVID-19 virus from spreading among people. Due to the shortages of materials, components, and completed items, this has significantly impacted the semiconductor industry's supply chain. Due to considerable negative effects on sales, shareholder returns, and revenue due to a lack of business continuity, the compound semiconductor industry is projected to experience financial disruptions.

Latest Trends

"Emerging Trend Towards Wireless Power Banks to Augment Market Growth"

Globally speaking, wireless power banks have had tremendous customer growth. To meet the growing market demand, major market players in the power bank sectors are developing this technology. Because there are no cords needed to charge the devices with wireless power banks, hassle-free charging is encouraged. Fast charging is also made possible by wireless charging, which opens up lucrative potential for widespread adoption.

Portable Power Bank Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into 3000 mAh, 3001 - 8000 mAh, 8001 - 20000 mAh and Above 20000 mAh.

In terms of product, 3000 mAh is the largest segment.

• By Application Analysis

Based on application, the market can be divided into smartphone.

In terms of application, smartphone is the largest segment.

Driving Factors

"Increasing Preference Towards Portable Power Banks to Enhance Market Performance"

Power banks have become a necessary item for people due to the increasing global adoption of smartphones. Online video streaming, gaming programs, and rising social media trends all demand a steady power source in order for the phone to be completely charged and to be used continuously. However, consumers feel that taking a power bank on the go is highly cumbersome. As a result, a burgeoning market for renting power banks has emerged on a global scale, enabling consumers to do so for a certain amount of time.

"Increased Demand for Smartphones to Provide Impetus to the Market"

Globally increasing smartphone demand, decreased power bank prices, and rising need for power banks for laptops and wearable technology are all factors influencing the growth of the global power bank industry. But the development of wireless charging for smartphones and users' growing preference for rental power banks have a substantial detrimental effect on market growth. A solid distribution network, rising trends toward wireless power banks, and increased use of solar and hydrogen cells in power banks are other important influencing variables.

Restraining Factors

"New Products to Impede Market Expansion"

The expansion of the power bank market is hampered by factors such new wireless charging trends, increased battery capacity in electronic devices, and rising customer preference for rental power banks. This is anticipated to constraint portable power bank market growth.

Portable Power Bank Market Regional Insights

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"North American to Dominate the Market Due to Increased Frequency of Power Outages"

A large number of smartphone users and the increasing frequency of power outages are the key factors behind the growth of the North American portable power bank market share. The expansion in the reach of online retail platforms for end users, the rising adoption of other electronic devices and rising power consumption by electronic devices due to advancements in mobile technologies, and the affordability of these power banks are all predicted to support the growth of the North American market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players of portable power bank are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Maxell (Japan)
• LG (South Korea)
• Pineng (Malaysia)
• Swiss Military (Switzerland)
• PISEN (China)
• KOKIRI (South Korea)
• Lepow (U.S.)
• Samsung (South Korea)
• ROMOSS (Hong Kong)

Report Coverage

This research profiles a report on portable power bank with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.