The latest report on “Power Bank Market (Product Type – Portable Power Banks, Phone Charging Cases, and Solar Power Banks; Port Type – Standard, Type C, and DC Power Jack; Charging Source – Electric, Solar, and Hybrid; Capacity – Up to 5,000 mAh, 5,001 mAh – 12,000 mAh, 12,001 mAh – 20,000 mAh, and Above 20,000 mAh; Distribution Channel – Retailers, Supermarkets, and Online): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global power bank market is projected to grow at a CAGR of 9.2% over the forecast period of 2019-2025.
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Nowadays with new innovations, companies are attracting consumers. Anker Technology Co. Limited a global leader in charging technology launched new PowerPort Atom PD 2 having a total charging rate of 60W. The power bank manufacturers are focusing on new product launches, mergers, and acquisitions. These players have adopted strategies such as geographic expansion, product portfolio expansion, and collaborations to maximize their market share.
Growing Demand for Smartphones Drives the Growth of the Power Bank Market
The growing demand for smartphones drives the growth of the power bank market. The use of the internet on smartphones and playing power consuming games drains the battery of devices that stimulates the growth of the power bank market. Power banks require less capital investment for setting up a manufacturing plant, which boosts the growth of the power bank market. Power banks are easy to use, portable and convenient. New advancements such as power banks based on solar and hydrogen cells stimulate the growth of the power bank market.
In addition, battery problems occur in long distance traveling that boosts the need for power banks. Reduced cost of power banks contributes to the growth of the power bank market. However, the latest smartphones with advanced facilities of quick and wireless charging restrain the growth of the power bank market. Moreover, technological advancements create numerous opportunities for power bank manufacturers. The new innovative power banks have a smaller size and recharge with the USB port.
Asia-Pacific Region is Anticipated to Be Dominant in the Power Bank Market
Asia-Pacific region is anticipated to be dominant in the power bank market. The increasing use of electronic devices, digitalization, and availability of cost-effective power banks contribute to the growth of the power bank market. China is having the highest number of mobile phone users that boosts the demand for the power bank market in the Asia-Pacific region. North America is expected to grow in the power bank market due to the rising adoption of a power bank by the consumers. Europe region has a healthy growth rate in the power bank market.
The report on global power bank market covers segments such as product type, port type, charging source, capacity, and distribution channel. On the basis of product type, the sub-markets include portable power banks, phone charging cases, and solar power banks. On the basis of port type, the sub-markets include standard, type c, and dc power jack. On the basis of charging source, the sub-markets include electric, solar, and hybrid. On the basis of capacity, the sub-markets include up to 5,000 mAh, 5,001 mAh – 12,000 mAh, 12,001 mAh – 20,000 mAh, and above 20,000 mAh. On the basis of distribution channel, the sub-markets include retailers, supermarkets, and online.
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The report provides profiles of the companies in the market such as Beijing Xiaomi Technology Co. Ltd., Sony Corporation, Microsoft Corporation, Intex Technologies, Ambrane India Pvt. Ltd., Anker Technology Co., Samsung Electronics Co., Ltd., Panasonic Corporation, Intex Technologies, Lenovo Group Limited, and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the power bank.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.