Wilmington, Delaware, United States, July 26, 2022 (GLOBE NEWSWIRE) -- As per a study by Transparency Market Research (TMR), the global power bank market is estimated to register growth at a CAGR of 6.1% during the forecast period, from 2022 to 2031.
The study by TMR provides in-depth data on important factors influencing the growth trajectory of the global power bank market. Hence, readers gain data and analysis on the growth drivers, restraints, expansion opportunities, demands and supply ratio, and the list of leading market players. This aside, the report sheds light on the current power bank target market regions and key power bank marketing strategy utilized by these players in order to expand their businesses.
Players in the power bank market are expected to observe a rise in the demand for portable power banks during the forecast period. This growth is ascribed to several factors including a surge in the use of different electronic devices including iPads, laptops, smartphones, and tablets across the globe. The popularity of portable battery charger is being increasing in the recent years as a best power bank owing to its ability to offer stable power in critical times, notes a TMR report on the power bank market.
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Power Bank Market: Key Findings
- The use of different types of gadgets including tablets, laptops, and smartphones is being increasing around the world for varied purposes including work, Internet browsing, calling, reading, watching movies, and playing games. Thus, the dying battery in the middle of such activities can be irritant, which is making it vital for people to buy a power bank. Owing to these factors, the global power bank market size is expected to expand at prominent pace and attract a value of US$ 18.5 Bn by 2031.
- Due to launch of solar charging and hydrogen cells, customers across the globe are inclining toward the use of a power bank without electricity. Besides, the power bank market share is anticipated to increase in the forthcoming years owing to a rise in the utilization of power banks across several emerging economies including India, where people experience frequent issues pertaining to the electricity shortage, notes a power bank market analysis by TMR.
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Power Bank Market: Growth Boosters
- Rise in the use of varied electronic devices including laptops and smartphones globally is creating high demand for power banks
- Increase in the need for convenient charging options for electronic devices is fueling the sales growth in the power bank market
- Surge in the amount of time spent on social media by the global population is fueling the demand for power banks across the globe
Power Bank Market: Regional Analysis
- The power bank market is Asia Pacific is anticipated to expand at rapid pace during the forecast period due to several factors including the expansion of the electronics industry in emerging economies including India and China
- Rise in the use of technology-based smartphones by people from North America is creating sizable sales prospects for players in the regional power bank market
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Power Bank Market: Key Players
Some of the key players profiled in the report are:
- Braven LC – INCIPIO Technologies, Inc.
- Anker Technology Co. Limited
- EasyAcc.com, Inc.
- Apacer Technologies, Inc.
- Goal Zero Corporation, LLC
- GP Batteries International Ltd
- MiPow Limited
- Maxell Holdings
- IEC Technology, Ltd.
- Mophie, Inc.
- Panasonic Corporation
- Sony Corporation
- RavPower
- Xtorm
- Realme
- Samsung Electronics Co., Ltd.
Power Bank Market Segmentation
- Product Type
- Portable Power Banks
- Power Charging Case
- Solar Power Banks
- Capacity
- Upto 5,000 mAh
- 5,001 mAh-12,000 mAh
- 12,001 mAh-20,000 mAh
- Above 20,000 mAh
- Battery Type
- Lithium Ion
- Lithium Polymer
- Port Type
- Standard
- Type C
- DC Power Jack
- Category
- Personal
- Shared
- Application
- Smartphone
- Tablet/Laptops
- PCs
- Camera
- Others
- Charging Source
- Electric
- Solar
- Hybrid
- Distribution Channel
- Online
- E-commerce Websites
- Company based Websites
- Offline
- Supermarkets & Hypermarkets
- Multi-brand Retail Stores
- Direct to Customer
- Online
- Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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