Dublin, Aug. 14, 2020 (GLOBE NEWSWIRE) -- The "Power Bank Market with COVID-19 Impact Analysis by Capacity (5,001-10,000 mAh, 10,001-15,000 mAh, 15,001-20,000 mAh), Units of USB Port, Indicator, Battery Type, Price Range, Application (Smartphone, Tablet, Wearable Device), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global power bank market was valued at USD 10.8 billion in 2019 and is projected to reach USD 13.4 billion by 2025; it is expected to register a CAGR of 8.1% from 2020 to 2025.
The key players in the power bank market 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. Also, companies are launching COVID-19 wearables which would further propel the need for power banks. For instance, in May 2020, Fitbit launched its own dedicated Fitbit COVID-19 study, which users can sign up from their Fitbit mobile app. This in-app study will help to know the potential COVID-19 cases by asking the users about their recent symptom history.
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 key lithium-ion battery manufacturers, such as CATL and BYD based in China, are witnessing a high probability of additional production delays due to coronavirus outbreak. The attempt of the country to fight against the coronavirus outbreak has led to delayed production across a number of battery manufacturing facilities located in key coronavirus-hit provinces of China, which might affect the market for li-ion battery-based power banks in the short term.
Medium price range segment to grow at significant CAGR during the forecast period
These power banks are equipped with fast charging technologies such as Power Delivery and are available with foldable wall chargers. These batteries have maintenance mode, which automatically optimizes charging for longer battery life. Nowadays, small manufacturers are providing power banks with a medium price range with higher capacities up to 30,000 mAh with digital displays, thereby, propelling the growth of the medium price range segment.
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 2020 to 2025. 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
2.1 Research Data
3 Executive Summary
3.1 Pre-COVID-19 Scenario
3.2 Post-COVID-19 Scenario
3.3 Optimistic Scenario (Post-COVID-19)
3.4 Pessimistic Scenario (Post-COVID-19)
4 Premium Insights
4.1 Attractive Growth Opportunities in Power Bank Market
4.2 Power Bank Market, by Capacity
4.3 Power Bank Market, by Battery Type
4.4 Power Bank Market, by Application
4.5 Power Bank Market, by Price Range
4.6 Power Bank Market in APAC, by Country and Application
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Sudden Shift to Work-From-Home and Remote Learning due to COVID-19 Resulting in Spike in Demand for Laptops
5.2.1.2 Integration of Advanced Technology in Power Banks
5.2.1.3 Increase in Power Consumption of Smartphones
5.2.1.4 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 Shutdown of Power Bank Manufacturing Plants and Delay in Shipment of Orders Owing to COVID-19
5.2.4.2 Complex Design Process
5.2.4.3 Highly Competitive Market
5.2.4.4 Li-Ion Batteries' Recycling Cost
5.3 Impact of COVID-19 on Power Bank Market
5.4 Distribution Channels for Power Banks
5.4.1 Offline Distribution Channel
5.4.2 Online Distribution Channel
5.5 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
7.3 5,001-10,000 mAh
7.4 10,001-15,000 mAh
7.5 15,001-20,000 mAh
7.6 Above 20,001 mAh
8 Power Bank Market, by Battery Type
8.1 Introduction
8.2 Lithium-Ion Battery
8.3 Lithium-Polymer Battery
9 Power Bank Market, by Indicator
9.1 Introduction
9.2 Led Lighting
9.3 Digital Display
10 Power Bank Market, by Unit of USB Port
10.1 Introduction
10.2 1 USB Port
10.3 2 USB Ports
10.4 more than 2 USB Ports
11 Power Bank Market, by Price Range
11.1 Introduction
11.2 Low
11.3 Medium
11.4 Premium
12 Power Bank Market, by Application
12.1 Introduction
12.2 Impact of COVID-19 on Applications of Power Bank
12.3 Smartphone
12.4 Tablet
12.5 Laptop
12.6 Wearable Device
12.7 Digital Camera
12.8 Portable Media Device
12.9 Others
13 Geographic Analysis
13.1 Introduction
13.2 North America
13.3 Europe
13.4 APAC
13.5 RoW
14 Competitive Landscape
14.1 Overview
14.2 Ranking Analysis, 2019
14.3 Competitive Leadership Mapping
14.3.1 Visionary Leaders
14.3.2 Innovators
14.3.3 Dynamic Differentiators
14.3.4 Emerging Companies
14.4 Competitive Situations and Trends
14.4.1 Product Launches and Developments
14.4.2 Others
15 Company Profiles (Business Overview, Products Offered, Recent Developments, SWOT Analysis)
15.1 Introduction
15.1.1 Impact of COVID-19 on Players of Power Bank Market
15.2 Key Players
15.2.1 Adata
15.2.2 Anker Innovations
15.2.3 Aukey
15.2.4 Xiaomi
15.2.5 Ravpower
15.2.6 Griffin
15.2.7 Lenovo
15.2.8 Mophie
15.2.9 Ambrane
15.2.10 Intex
15.3 Right to Win
15.4 Other Companies
15.4.1 Mycharge
15.4.2 Omnicharge
15.4.3 iWalk
15.4.4 Easyacc
15.4.5 Duracell
15.4.6 Sony
15.4.7 Syska
15.4.8 TP-Link Technologies
15.4.9 Uimi
15.4.10 Unu
15.4.11 Voltaic Systems
15.4.12 PNY
15.4.13 Zendure
15.4.14 Philips
15.4.15 Romoss
For more information about this report visit https://www.researchandmarkets.com/r/epuyn0
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