The global power banks market size is anticipated to reach USD 27.75 billion by 2025 expanding at a CAGR of 18.4% during the forecast period, according to a new report by Grand View Research. Currently, power banks are one of the essential mobile accessories. Increasing demand for power banks and intense competition in the market has led to a reduction in their prices. This is expected to help boost the market growth over the coming years. Rising use of internet and insufficient battery capacity of smartphones and other mobile consumer electronic products are the key factors driving the growth in sales of power banks globally.
Growth in GDP, increased consumer purchasing power, and improved living standards are propelling the growth of the electronics market, which, in turn is driving the power banks market. The 8,001 mAh-20,000 mAh capacity range segment is expected to register the highest CAGR over the forecast period owing to the capacity of these power banks to charge a device multiple times.
The Asia Pacific region led the market in terms of revenue in 2017.Factors, such as growing population and rising penetration of e-commerce in the electronics industry, are augmenting the demand for power banks in Asia Pacific. Thus, the region is expected to witness a significant gain in revenue share over the forecast period. The lithium-ion battery segment held the largest market share in 2017. Lithium-ion batteries offer numerous advantages, such as relatively low self-discharging, high energy density, and low maintenance.
Further key findings from the study suggest:
- The online distribution channel segment is expected to witness substantial growth over the forecast period owing to the growing number of internet users
- The electric power banks segment accounted for the largest market share in 2017
- However, the solar power banks segment is expected to register the fastest CAGR from2018 to 2025
- Countries including U.S., China, Japan, India, and Mexico are expected to witness considerable growth over the forecast period owing to robust industrial development and extensive urbanization
- Major companies in the global power banks market include Beijing Xiaomi Technology Co. Ltd.; Lenovo Group Ltd.; Microsoft Corporation; Panasonic Corporation; Sony Corporation; ASUS TeK Computer, Inc.; Anker Technology Co.; Intex Technologies; and Ambrane India Private Ltd.
Access full research report on global power banks market: www.grandviewresearch.com/industry-analysis/power-banks-market
Power Banks have become indispensable in our lives.
They complement our fast-paced lifestyle very well, keeping all our devices charged as we stay on the move.
From a convenience as well as safety perspective, power banks have made our lives easy.
But there are so many power banks in the market.
How do we zero down on the right one?
In this blog, you’ll get handy tips for power bank online shopping.The capacity of power banks is measured in milliampere or mAh.
Promotional power banks are the electronics gadget.
It's very useful products in this world among the smartphone’s users to power their smartphones in a very short time.
Car chargers and power banks are more of a necessity than just gadgets now.
And, what can be more astonishing than getting a car charger with a built-in power bank for power storage?
Now, you can charge your smartphone inside or outside of the car too.
The car adaptor and power bank are a must buy.
