Global Power Bank Market to Garner $19.40 Billion by 2025 at 2.03% CAGR: AMR
Surge in use of digital products equipped with rechargeable batteries and advent of new technologies in consumer electronics, and increased penetration of Internet services have boosted the growth of the global power bank market. The market across Asia-Pacific is anticipated to register the highest CAGR of 2.9% during the forecast period. On the other hand, the 8,001–20,000 mAH segment dominated the market in 2017.
Portland, March 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global power bank market accounted for $16.34 billion in 2017, and is estimated to garner $19.40 billion by 2025, growing at a CAGR of 2.03% from 2018 to 2025.
Surge in use of digital products equipped with rechargeable batteries and advent of new technologies in consumer electronics, and increased penetration of Internet services have boosted the growth of the global power bank market. However, emerging trends of wireless charging and improved battery capacity of electronic devices hamper the market growth. On the contrary, use of solar cells and hydrogen cells in power banks and strong distribution network are expected to create new opportunities in the near future.
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The global power bank market is segmented on the basis of battery type, power rating, distribution channel, price range, and geography. Based on battery type, the lithium-ion segment held the largest share in 2017, accounting for three-fourths of the market and is anticipated to portray the highest CAGR of 2.3% during the forecast period.
On the basis of power rating, the market is categorized into Up to 3000 mAh, 3,001 - 8,000 mAh, 8,001 - 20,000 mAh, and Above 20,000 mAh. The power banks in the capacity range of above 20,000 mAH are expected to manifest the highest CAGR of 2.5% during the study period. However, the 8,001–20,000 mAH segment dominated the market in 2017, contributing to nearly two-thirds of the market.
Based on distribution channel, the market is bifurcated into online and offline. The online segment held the lion’s share in 2017, accounting for nearly three-fourths of the total revenue. Moreover, the segment is projected to register the highest CAGR of 2.4% from 2018 to 2025. The offline segment is expected to show significant growth through 2015.
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The global power bank market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is anticipated to register the highest CAGR of 2.9% during the forecast period. However, the market across LAMEA held the largest share in 2017, accounting for more than two-fifths of the market.
The global power bank market report includes an in-depth analysis of the major market players such as Sony Corporation, Samsung Electronics Co., Ltd., Huawei Technologies, Anker, Intex, Zagg Inc., Xiaomi Corporation, Xtrom, GP Batteries, and Lenovo Group Ltd.
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