Power Bank Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global power banks market size is anticipated to reach
USD 27.75 billion by 2025 expanding at a CAGR of 18.4% during the forecast
period, according to a new report by Grand View Research. Currently, power
banks are one of the essential mobile accessories. Increasing demand for power
banks and intense competition in the market has led to a reduction in their
prices. This is expected to help boost the market growth over the coming years.
Rising use of internet and insufficient battery capacity of smartphones and
other mobile consumer electronic products are the key factors driving the
growth in sales of power banks globally.
Growth in
GDP, increased consumer purchasing power, and improved living standards are
propelling the growth of the electronics market, which, in turn is driving the
power banks market. The 8,001 mAh-20,000 mAh capacity range segment is expected
to register the highest CAGR over the forecast period owing to the capacity of
these power banks to charge a device multiple times.
The Asia
Pacific region led the market in terms of revenue in 2017.Factors, such as
growing population and rising penetration of e-commerce in the electronics
industry, are augmenting the demand for power banks in Asia Pacific. Thus, the
region is expected to witness a significant gain in revenue share over the
forecast period. The lithium-ion
battery segment held the largest market share in 2017. Lithium-ion
batteries offer numerous advantages, such as relatively low self-discharging,
high energy density, and low maintenance.
Further key
findings from the study suggest:
- The online
distribution channel segment is expected to witness substantial growth
over the forecast period owing to the growing number of internet users
- The electric
power banks segment accounted for the largest market share in 2017
- However, the
solar power banks segment is expected to register the fastest CAGR
from2018 to 2025
- Countries
including U.S., China, Japan, India, and Mexico are expected to witness
considerable growth over the forecast period owing to robust industrial
development and extensive urbanization
- Major companies
in the global power banks market include Beijing Xiaomi Technology Co.
Ltd.; Lenovo Group Ltd.; Microsoft Corporation; Panasonic Corporation;
Sony Corporation; ASUS TeK Computer, Inc.; Anker Technology Co.; Intex
Technologies; and Ambrane India Private Ltd.
Access
full research report on global power banks market:
www.grandviewresearch.com/industry-analysis/power-banks-market
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Created on Jan 3rd 2020 05:55. Viewed 454 times.