According to the new market research report "Power Bank Market by Capacity Range (500mAh to Above 1500mAh), Number of USB Port, Energy Source, Technology (Lithium-ION and Lithium-Polymer), Application (Smartphones, Tablets, and Portable Media Devices), and by Region - Global Forecast to 2020", the power bank market is estimated to reach USD 17.8 Billion by 2020, at a CAGR of 23.1% between 2015 and 2020.
Browse 70 market tables and 63 figures spread through 146 pages on "Power Bank Market - Global Forecast to 2020"
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Power banks are mainly based on lithium-ion or lithium-polymer batteries which are a crucial component of the former. This report provides a detailed analysis of the market for power banks based on lithium-ion and lithium-polymer based batteries. It has been estimated that the majority of power banks has are based on lithium-ion based batteries; however, there have been various developments related to lithium-polymer batteries used in power banks. The market for such power banks is expected to grow at a high CAGR of 28.4% between 2015 and 2020. The market for power banks used in smartphones and tablets is expected to grow at a high CAGR of 24.2% and 22.9% respectively, between 2015 and 2020. Power banks with a capacity range between 9500mAh and 12499mAh account for a high market share; however, the market for power banks with a capacity range of more than 12499mAh is expected to grow at a high CAGR between 2015 and 2020. Asia-Pacific is expected to account for a major market share of ~43% of the studied market by 2020 and is expected to grow at a CAGR of 22.3% between 2015 and 2020.
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The power bank market has been segmented based on the capacity range, number of USB port, source of energy, technology, application, and region. The market size of power banks with a capacity range between 500mAh and above 15000mAh has been estimated and included in the report. Power banks with a lower capacity are the least preferred by consumers as they do not meet the higher battery requirement. Power banks with a capacity range between 9500mAh and 12499mAh hold a high market share and are expected to dominate the market during the forecast period. This market expected to grow at a CAGR of 24.2% between 2015 and 2020. However due to the increase in processor speed and growing digital content, consumers are looking for power banks with a higher capacity. Therefore, the market for power banks with a capacity of more than 12499 mAh is expected to grow at a high CAGR between 2015 and 2020. Currently, power banks with a higher capacity are available at a higher cost than those with a lower capacity. The huge growth potential of the studied market has encouraged many companies develop power banks. Companies such as Microsoft Co. (U.S.), Xiaomi (China), and Oneplus (China) have recently launched various power banks in the market. Recently, Microsoft launched a power bank with a capacity of 5200mAh, 9000mAh, and 12000mAh at a retail price of USD 35, USD 45, and USD 55 respectively.
This report provides a detailed market overview which includes various factors such as drivers, restraints, opportunities, and challenges with regards to the power bank market. Some of the drivers for the power bank market include the increase in demand for smart phones, decline in the prices of power banks, and increasing power consumption due to large-scale digitization. Factors which are restraining the growth of the studied market include improvements in terms of batteries, poor quality of power banks, and implementation of wireless charging in smartphones. Introduction of solar and hydrogen cell based power banks is expected to create a huge growth opportunity for the power bank market. The presence of a large number of players and lack of a proper disposal infrastructure is acting as a major challenge for the power bank market.
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Asia-Pacific dominates the market for power banks and is expected to maintain its position during the forecast period. The majority of the power bank and battery manufacturers are located in the Asia-Pacific region. Companies involved in the development of power banks include Advantage Computers (I) Pvt. Ltd. (India), Anker. (U.S.), Microsoft corporation (U.S.), Mophie Inc. (U.S.), OnePlus (China), Panasonic Corporation (Japan), Sony Corporation (Japan), uNu Electronics INC. (U.S.), and Xiaomi Technology Co., Ltd (China). Companies involved in the development of batteries used in power banks include China BAK Battery, Inc. (China), LG Chem Ltd. (South Korea), and Samsung SDI co. Ltd. (South Korea).
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