Dublin, Nov. 01, 2019 (GLOBE NEWSWIRE) -- The "Power Bank Market by Capacity (1,000-5,000 mAh, 5,001-10,000 mAh, 10,001-15,000 mAh, 15,001-20,000 mAh, Above 20,001 mAh), Units of USB Port, Indicator, Battery Type, Application (Smartphone, Tablet, Wearable Device), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The power bank market was valued at USD 9.5 billion in 2018 and is projected to reach USD 17.9 billion by 2024; it is expected to grow at a CAGR of 10.8% from 2019 to 2024.
- This research report categorizes the power bank market by battery type, capacity, unit of USB port, indicator, application, and region.
- The report describes the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain and market ranking analysis.
The report profiles the key players in the power bank market and analyzes their market rankings. A few prominent players profiled in this report include Anker Innovations (China), AUKEY (China), Xiaomi (China), ADATA (Taiwan), RAVPower (US), GRIFFIN (US), Lenovo (China), mophie (US), AMBRANE (India), and INTEX (India).
Growing adoption of wearable devices is propelling the growth of the power bank market
Most wearable devices are wireless and require power to operate at all times; batteries in these devices are not likely to last long with its increasing functionalities. Hence, wearable devices can be conveniently recharged on-the-go using a power bank, thereby enabling devices to last longer. Wearable devices, such as smartwatches, fitness bands, and smart glasses, are gaining rapid attention from end-users, and power banks are anticipated to have a growing demand in this application.
Power bank market to be driven by lithium-ion during the forecast period
The lithium-ion battery segment is expected to hold a significant share of the power bank industry during the forecast period. Currently, lithium-ion batteries are the most used batteries by the manufacturers. Lithium-ion batteries have a high energy density, high conversion rate, and high energy capacity, as well as are cheaper to manufacture. They are inexpensive to produce as they have lower production costs and require low maintenance.
The high voltage of Li-ion batteries makes them suitable to recharge large devices such as laptops and tablets. Therefore, the demand for lithium-ion batteries in the power bank market is high and is expected to increase rapidly during the forecast period.
Digital display indicator segment to grow at significant CAGR during the forecast period
Power banks with digital displays are expected to witness significant growth during the forecast period. Power banks with digital displays are relatively efficient as they display battery levels in numerals, thus making them easier to read and interpret. The digital display shows accurate charging status and battery level.
Power bank market in APAC to witness the highest growth rate in the coming years
The power bank industry in APAC is expected to grow at the highest CAGR from 2019 to 2024. The market in APAC has the presence of prominent players that offer power banks at a low price, making them affordable for customers. Increasing demand for smartphones and other portable consumer electronic devices in countries such as China, Japan, South Korea, and India is driving the market for power banks in APAC. Also, increasing per capita income in developing countries in the region as well as improving the standard of living have led to the growing demand for smartphones and the rising popularity of wearable devices.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the Power Bank Market
4.2 Market, By Capacity
4.3 Market, By Battery Type
4.4 Market, By Application
4.5 Market in North America, By Country and Capacity
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Integration of Advanced Technology in Power Banks
5.2.1.2 Increase in Power Consumption of Smartphones
5.2.1.3 Decline in Price of Power Banks
5.2.2 Restraints
5.2.2.1 Poor Quality of Power Banks
5.2.3 Opportunities
5.2.3.1 Growth in the Adoption of Wearable Devices
5.2.3.2 Development of Solar and Hydrogen Fuel Cell-Based Power Banks
5.2.4 Challenges
5.2.4.1 Complex Design Process
5.2.4.2 Highly Competitive Market
5.2.4.3 Li-Ion Batteries' Recycling Cost
5.3 Value Chain Analysis
6 Energy Sources of Power Banks
6.1 Introduction
6.2 Electric
6.2.1 Key Player are Integrating New Technologies in Electric Power Banks
6.3 Solar
6.3.1 Solar Power Banks: A Disaster Recovery Solution
7 Power Bank Market, By Capacity
7.1 Introduction
7.2 1,000-5,000 mAh
7.2.1 Compact Power Banks for Smartphones
7.3 5,001-10,000 mAh
7.3.1 Power Banks With Capacity Ranging 5,001-10,000 mAh Hold Highest Demand in the Market During Forecast Period
7.4 10,001-15,000 mAh
7.4.1 Power Banks With Capacity Ranging 10,001-15,000 mAh to have High Demand in Coming Years
7.5 15,001-20,000 mAh
7.5.1 Power Banks With Capacity Ranging 15,001-20,000 mAh are Equipped With Advanced Protection Technology and have Longer Battery Life
7.6 Above 20,001 mAh
7.6.1 Super-Fast Charging Power Bank Equipped With High-Quality Battery Cell
8 Power Bank Market, By Battery Type
8.1 Introduction
8.2 Lithium-Ion Battery
8.2.1 High Energy Density Key Advantage of Lithium-Ion Battery
8.3 Lithium-Polymer Battery
8.3.1 Growing Demand for Lightweight Power Banks Increases Demand for Li-Polymer Batteries
9 Power Bank Market, By Indicator
9.1 Introduction
9.2 Led Lighting
9.2.1 Led Indicator Most Adopted Type By Manufacturers
9.3 Digital Display
9.3.1 Power Banks With Digital Display Witness High Growth Opportunity
10 Power Bank Market, By Unit of USB Port
10.1 Introduction
10.2 USB Port
10.2.1 Power Banks With 1 USB Port Mostly Feature Low Battery Capacity
10.3 USB Ports
10.3.1 Power Banks With Dual USB Ports are Prefered
10.4 More Than 2 USB Ports
10.4.1 Usage of USB Hub Mode for Multi-Port Power Banks
11 Power Bank Market, By Application
11.1 Introduction
11.2 Smartphone
11.2.1 Smartphone Application Holds Largest Share of Market
11.3 Tablet
11.3.1 Power Banks are Used to Provide Uninterruptable Power Supply for Tablets
11.4 Laptop
11.4.1 Power Banks Ensure Long Usage Without Interruption in Laptops
11.5 Wearable Device
11.5.1 Most Wearable Devices are Wireless and Portable, Requiring Continuous Supply of Power
11.6 Digital Camera
11.6.1 Digital Cameras Use Power Banks as External Power Source
11.7 Portable Media Device
11.7.1 Portable Media Players Require More Battery Life Due to Faster Data Connectivity and Subsequent Increase in Digital Content
11.8 Others
11.8.1 Gaming Devices, Gps Navigators, and E-Readers Require Power Banks to Reduce Dependency on Fixed Electrical Outlet
12 Geographic Analysis
12.1 Introduction
12.2 North America
12.2.1 US
12.2.1.1 Accounted for the Largest Share for Market in North America
12.2.2 Canada
12.2.2.1 Major Applications Such as Smartphones and Tablets Driving Growth of This Market
12.2.3 Mexico
12.2.3.1 Mexico Expected to Be Lucrative Market for Power Banks
12.3 Europe
12.3.1 Germany
12.3.1.1 Germany Invests Extensively in R&D of Battery Production Due to Which It Holds Strong Market Value
12.3.2 UK
12.3.2.1 Increasing Demand for Smart Wearable Electronics and Smartphones in This Country.
12.3.3 France
12.3.3.1 France Depicts Significant Growth in Smartphone, Internet Use, and Internet-Connected Mobile Devices
12.3.4 Rest of Europe
12.4 APAC
12.4.1 China
12.4.1.1 China has Major Presence of Power Bank Manufacturers
12.4.2 Japan
12.4.2.1 Players Based in Japan Focus on Differentiating Their Products From Other Manufacturers
12.4.3 South Korea
12.4.3.1 South Korea has Presence of Major Battery Manufacturers Designing Lithium Batteries for Power Banks
12.4.4 India
12.4.4.1 India Presents Huge Opportunity for Market
12.4.5 Rest of APAC
12.5 RoW
12.5.1 Middle East & Africa
12.5.1.1 Increasing Demand for Wearables and Growing Penetration of Smartphones and Tablets
12.5.2 South America
12.5.2.1 South America is Among Developing Markets for Power Banks
13 Competitive Landscape
13.1 Overview
13.2 Ranking Analysis, 2018
13.3 Competitive Leadership Mapping
13.3.1 Visionary Leaders
13.3.2 Innovators
13.3.3 Dynamic Differentiators
13.3.4 Emerging Companies
13.4 Competitive Situations and Trends
13.4.1 Product Launches and Developments
13.4.2 Others
14 Company Profiles
14.1 Key Players
14.1.1 Adata
14.1.2 Anker Innovations
14.1.3 Aukey
14.1.4 Xiaomi
14.1.5 Ravpower
14.1.6 Griffin
14.1.7 Lenovo
14.1.8 Mophie
14.1.9 Ambrane
14.1.10 Intex
14.2 Other Companies
14.2.1 Mycharge
14.2.2 Omnicharge
14.2.3 Iwalk
14.2.4 Easyacc
14.2.5 Duracell
14.2.6 Sony
14.2.7 Syska
14.2.8 TP-Link Technologies
14.2.9 UIMI
14.2.10 UNU
14.2.11 Voltaic Systems
14.2.12 PNY
14.2.13 Zendure
14.2.14 Philips
14.2.15 Romoss
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