Power Banks Market Driven By Surging Adoption Of Smartphones And Other Electronic Devices Till 2025: Grand View Research Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to report published by Grand View Research, 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.Increasing demand for power banks and intense competition in the market has led to a reduction in their prices.

According to a new report,“Power Bank Market Size, Share & Trends Analysis Report By Capacity Range, By Distribution Channel (Online, Offline), By Battery Type, By Energy Source (Electric, Solar), By End User, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., 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. 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.

Key Takeaways from the report:

  • 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.

U.S. power bank market size, by capacity range, 2014 - 2025 (USD Billion)

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Global power bank market share, by capacity range, 2017 (%)

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.

Grand View Research has segmented global power banks market on the basis of capacity range, energy source, battery type, end user, distribution channel, and region.

Power Banks Capacity Range Outlook (Revenue, USD Billion, 2014 – 2025)

  • Up to 3,000 mAh

  • 3,001 mAh-8,000 mAh

  • 8,001 mAh-20,000 mAh

  • Above 20,000 mAh

Power Banks Energy Source Outlook (Revenue, USD Billion, 2014 – 2025)

  • Electric

  • Solar

Power Banks Battery Type Outlook (Revenue, USD Billion, 2014 – 2025)

  • Lithium-Ion Batteries

  • Lithium Polymer Batteries

Power Banks End User Outlook (Revenue, USD Billion, 2014 – 2025)

  • Industrial/B2B

  • Consumer Electronics

Power Banks Distribution Channel Outlook (Revenue, USD Billion, 2014 – 2025)

  • Online

  • Offline

Power Banks Regional Outlook (Revenue, USD Billion, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • Japan

    • China

    • India

  • South America

    • Brazil

  • Middle East & Africa (MEA)

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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