The global mobile power bank market is expected to grow at 24% CAGR over the forecast period. Reliance on battery powered equipment and ubiquitousness of USB ports for charging can drive the market demand. Convenience accorded to customers due to the portable nature of power banks is expected to drive its sales.
The increased capacity of the current generation of power banks which include wireless charging, USB-C ports, and status display for charge points of all devices. Development of hydrogen fuel cell and solar cell powered devices can open up new growth opportunities.
But the heavy mass of the charger and case of mobile power banks can deter its market growth.
The global mobile power bank market has been segmented on the basis of capacity, battery type, power bank type, and number of USB ports.
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The capacity includes 1000-2500mAh, 2600-5000mAh, 5100-10400mAh, and above 10400mA.
By battery type, it is divided into Li-ion and Li-polymer. The Li-polymer segment is expected to gain preference in the coming years in the global mobile power bank market. This can be attributed to its low mass and protection accorded to inner circuits. On the other hand, the Li-ion segment has high energy capacity and afforded at low cost.
Asia Pacific (APAC) is dominating the mobile power bank market due to the high number of users of smartphones and electronic gadgets in the regions of China and India. China is one of the most populous countries in world and has highest number of mobile phone users followed by India. The growing number of mobile phone users and heavy use of internet services in the region is contributing to the market of mobile power banks.
Top Key Players
Samsung Electronics Co., Ltd., Sony Corporation, Panasonic Corporation, ADATA Technology Co., Ltd., PNY Technologies, Inc., Lenovo Group Ltd., Apacer Technology, Inc., OPPO Electronics Corp., Gold Peak Industries, Ltd., Xiaomi Inc., The Targus Corporation, Anker Technology Co. Limited, and Microsoft Corp. are key players of the global mobile power bank market.
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