Newark, Sept. 11, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global power bank market is expected to grow from USD 12.79 billion in 2022 to 36.95 billion by 2032, at a CAGR of 11.19% during the forecast period 2023-2032. The Asia Pacific region is anticipated to grow at a considerable growth rate in the global power bank market over the forecast period because APAC has the presence of leading players that offer power banks at a low price, rendering them affordable for customers.
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Power Bank Market by Capacity Range (1,000–5,000 mAh, 5,001–10,000 mAh, 10,001–15,000 mAh, 15,001–20,000 mAh and Above 20,001 mAh), Energy Source (Electric, Solar), Battery Type, Application, Distribution Channel, Regions,and Global Forecast 2023-2032.
Some of the major companies in the global power bank market are ADATA, Ambrane India Private Limited, Anker Innovations, AsusTeK Computer Inc., AUKEY, GRIFFIN, Intex Technologies, Lenovo Group Ltd., Microsoft Corporation, mophie, Panasonic Corporation, RAVPower, Sony Corporation and Xiaomiamong others.
Report Scope
| Report Attribute | Details |
| Projected Market Size in 2032 | USD 36.95 billion |
| CAGR Growth Rate | 11.19% |
| Base Year | 2022 |
| Forecast Years | 2023-2032 |
| Key Market Players | ADATA, Ambrane India Private Limited, Anker Innovations, AsusTeK Computer Inc., AUKEY, GRIFFIN, Intex Technologies, Lenovo Group Ltd., Microsoft Corporation, mophie, Panasonic Corporation, RAVPower, Sony Corporation and Xiaomiamong others. |
| Key Segment | Industry Analysis, Trends, Analysis and Forecas |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The capacity range segment is divided into 1,000–5,000 mAh, 5,001–10,000 mAh, 10,001–15,000 mAh, 15,001–20,000 mAh and above 20,001 mAh. The 10,001–15,000 mAh segment of the power bank market is expected to grow at the highest CAGR of around 14.83% during the forecast period. That's because they're typically lithium-ion based batteries, so these power banks have longer battery life and high output capacity, including LCDs or LEDs for battery level indication. These power banks are in high demand as they are sold at a reasonable price compared to power banks with capacities above 15,000 mAh. The energy source segment includes electric and solar energy source. The electric segment dominated the market and held the largest market share of around 69.54% in 2022 because they offer advantages of easy availability, low expense, lightweight and compactness.The battery type segment includes lithium-ion batteries and lithium polymer batteries. The lithium-ion batteries segment dominated the market and held the largest market share of around 74.29% in 2022 since the lithium-ion batteries provide numerous benefits including good energy performance, low self-discharge and low maintenance. The application segment includes smartphone, wearable device, tablet, portable media device, laptop, digital camera and others. Smartphones application is anticipated to account for the largest market share during the forecast period. The growing usage of internet over smartphones is a big factor contributing to the increased drainage of the battery power. This leads to the need for power banks keep devices running longer. The distribution channel segment includes e-commerce distribution channel and brick and mortar distribution channel. The e-commerce segment is projected to grow at the highest CAGR over the forecast period because of rising internet adoption.
Wearable devices, such as fitness bands, smart watches, and smart glasses, are attracting rapid interest from end-users, and power banks are projected to have rising demand within this application.In addition,increasing digitalization and the decline in power bank prices are both expected to be the main factors driving market growth.
About the report:
The global pharmaceutical packaging market is analysed on the basis of value (USD billion). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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