The global power bank market size was US$ 18.1 billion in 2021. The global power bank market is forecast to reach US$ 29.34 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.

A mobile power bank is a battery charging device that allows users to charge their mobile devices anywhere and at any time. It's a medium-sized electrical gadget that consists of a specific battery and electronic circuits that regulate the power flow range. Mobile power banks allow users to store electrical energy for charging small computing devices such as smartphones and tablets, anytime and at any place.

Factors Influencing the Market

The growing deployment of smartphones is driving the growth of the power bank market during the forecast period.

The rising number of advanced technologies, such as advancements in Android, Symbian, and IoS, is forecast to offer ample growth opportunities.

The increasing interest of youth and children towards games, running multimedia players, video calling, and high-speed internet services will benefit the global power bank market. These activities consume batteries in the smartphone. Thus, the demand for power banks will increase unexpectedly.

The reducing prices of power banks are forecast to benefit the global power banks market in the coming years. Furthermore, various companies are producing solar-powered or hydrogen-fueled power banks, which will benefit the electric power banks market.

Wireless power banks are forecast to gain traction due to their benefits. In addition, the introduction of advanced technologies by major market players to promote hassle-free charging facilities will offer lucrative opportunities for market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has caused significant problems in the global power bank market. The pandemic's overall impact has been negative on various industries. It is mainly due to disruptions in manufacturing processes, including semiconductors and electronics. In addition, trade barriers have made it even more difficult to estimate demand and supply. Thus, it hampered the deployment of power banks, which ultimately affected the global power bank market.

Regional Analysis

The increasing use of consumer electronic devices, particularly smartphones and tablets, and the growing power consumption of electronic devices will drive the Asia-Pacific power bank market forward. The use of power banks in Asia-Pacific will increase due to rising disposable income, growing urban populations, and increasing penetration of smartphones and tablets. Furthermore, the expansion of the power bank market in Asia-Pacific is attributed to the growing population and rising disposable income.

Competitors in the Market

Anker Innovations Ltd
Gp Batteries
Huawei Technologies
Panasonic Corporation
Lenovo
Zagg Inc
Xtorm (Telco Accessories B.V.)
Xiaomi Corporation
Samsung Electronics Co. Ltd.
Sony Corporation
Other Prominent Players
Market Segmentation

Based on Battery Type

Lithium-Ion (Li-Ion) Battery
Lithium Polymer (Li-Polymer) Battery
Based on the Unit of USB Port

1 USB Port
2 USB Ports
More than 2 USB Ports
Based on Indicator

LED Lighting
Digital Display
Based on Capacity

Up to 3,000 mAh
3,0018,000 mAh
8,00120,000 mAh
Above 20,001 mAh
Based on the Energy Source Outlook

Electric source
Solar source
Based on Application

Smart Phone
Tablet
Laptop
Portable Media Device
Wearable Device
Digital Camera
Based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America