Market Research Analysis Power Banks Market 2025 - Global Industry Demand, | Page 2

They are not one-time equipment and hence, can be recharged and re-used several times. Power banks capacity is
measured in mAh (milliampere-hour); higher mAh indicates higher capacity a power bank has. Generally, lithium
batteries are being used in power bank for their compact size, wide market reach and affordability. Additionally,
lithium being an extremely reactive element can store energy very efficiently and can handle recharge cycles
effectively. The most important part of power banks are the PCB board and the batteries. Presently, power bank
batteries are categorized as polymer battery, cylindrical battery, and square aluminum case.
The global power bank market has been segmented into number of USB ports, capacity range, and source of energy,
application, technology, and region. Power banks which have lesser battery capacity in terms of mAh are preferred
less than that having higher mAh rating. Power banks with a capacity range between 9000mAh and 12500mAh hold
majority market share and are anticipated to dominate the market over the forecast period. Owing to the increase in
digital content and processor speed, consumers are looking out for power a bank which has a higher capacity to fulfill
needs. Therefore, the global market for power banks with a capacity of more than 12500mAh is anticipated to grow
at a high CAGR over the forecast period. Presently, power banks with a higher capacity are available at a higher price
than those with a lower capacity are available at a lesser price. The enormous growth potential of the market has
encouraged several companies to develop power banks. The companies such as One plus (China), Xiaomi (China),and
Microsoft Co. (U.S.), have recently launched several power banks of different capacities in the market. Recently,
Microsoft launched power bank with a capacity of 12000mAh, 9000mAh, and 5200mAh, and at a retail price of USD
55, USD 45, and USD 35 respectively.
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Versatility in terms of mobility and application are major features of power banks. These devices are available across
several colors, capacities, sizes, and shapes. Product types include power bank with LED, solar power banks, and built-
in rechargeable line type. Application areas of power banks mostly include mobile phone chargers (USB chargers and
adapters), and Electric Vehicle (EV) chargers. Improved standard of living, increased purchasing power of consumer,
and rapid economic development have positively affected the electronics market. However, these electronic devices
come with comparatively low battery capacity; hence the demand for portable back up power has been on a rise.
Moreover, the global market for power banks is driven drastically by the growth of smart phone technology.
Augmented demand and increased usage of tablets, mobile phones, phablets, and other digital gadgets has propelled
the market growth. Further, usage of power banks is on the rise with improved functionality of the digital products.
Geographically, the global power banks market is segmented into North America, Asia Pacific, Latin America, Middle
East and Africa, and Europe. Asia Pacific is expected to be key growth region over the forecast period owing to
existence of large customer base and evolving electronics industry. Middle East & Africa and Latin America are also
anticipated to witness substantial growth over the forecast period. China is a key market, and increased demand for
power banks has generated opportunities for the global market growth. Owing to aggressive competition in the
industry innovations and R&D activities are extensively undertaken.