New York, NY, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Power Bank Market By Battery Type [Lithium Polymer (Li-Polymer) Battery and Lithium-Ion (Li-Ion) Battery], By Unit of USB Port (Single USB Port, Two USB Ports, and More than two USB Ports), By Indicator (Digital Display and LED Lighting), By Capacity (20,000 mAh & Above, 15,000–20,000 mAh, 10,000–15,000 mAh, 5,000–10,000 mAh, and 1,000–5,000 mAh), By Application (Portable Media Device, Smartphone, Laptop, Tablet, Digital Camera, Wearable Device, and Others), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global Power Bank Market was estimated at USD 11 billion in 2019 and is expected to reach USD 21 billion by 2026. The global Power Bank Market is expected to grow at a compound annual growth rate (CAGR) of 10% from 2020 to 2027.
Global Power Bank Market Growing Attributed To the Declining Prices Of Power Banks Due To Manufacturers Focusing On Launching New Technologies Power Bank.
A power bank is a device used for providing power to electronic devices that operate on battery power. Power banks prove a boon in charging battery-powered portable devices. Power banks take charge from a charger, store the power in an in-built battery, and then charge other devices. Even though the function of power banks seems simple, they are integrated with some complex technologies such as over-discharge protection, overcharge protection, short circuit protection, wireless charging, powerIQ, Qualcomm Quick Charge, and graphene technology.
Browse through 40 Tables & 83 Figures spread over 180+ Pages and in-depth TOC on “Global Power Bank Market Size & Share 2020: By Type, Prices, Industry Trends, Growth, Analysis, and Forecast to 2026”.
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Power banks are prominently used for charging consumer electronics such as smartphones, tablets, wearable devices, portable media devices, laptops, digital cameras, and other devices. Power banks are available through the retail channel as well as online or e-commerce channels. There is a growing demand for power banks through e-commerce channels due to increasing digitization and internet penetration globally. E-commerce channel is majorly driven by multi-category retailers. However, Middle Eastern and African regions are yet to experience online retailing platforms on large scale hence they mostly depend on supermarkets and hypermarkets and direct selling. The global consumer electronics industry is suffering significantly due to the COVID-19 crisis. However, the market might show growth due to new product launches by the key manufacturers. In June 2020, Xiaomi launched a new power bank equipped with quick charge technology along with a huge battery capacity of 30,000 mAh.
Increasing the adoption of smart devices and smartphones globally is anticipated to drive the power bank market share. The power consumption of electronic devices is increasing significantly due to the integration of various mobile technologies and features leading to a growing demand for power banks for on the go applications. The development of hydrogen fuel cell and solar-based power banks is anticipated to create lucrative opportunities for the market. Companies such as Elixier Tech Innovatis LLP, EasyAcc, Uimi Technology Private Limited, Volatic Systems, and Bonai offer solar powered power banks. TW Horizon Fuel Cell Technologies has introduced a power bank called MINIPAK that is based on hydrogen fuel cells.
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Top Market Players
Some of the leading and top power bank companies in the global power bank market include lenovo, ambrane, intex, griffin, mophie, mycharge, iwalk, duracell, syska, uimi, xiaomi, ravpower, anker innovations, aukey, adata, omnicharge, easyacc, sony, tp-link technologies, and unu among others.
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The “lithium polymer (Li-Polymer)” category under the battery type segment to grow at a considerable CAGR during 2020–2026
Power bank manufacturers prefer installing lithium polymer batteries in their recently launched and upcoming products, as these batteries are lighter in weight, more compact, devoid of electrolytes, offer fast charging & discharging feature, and have a flexible form factor compared to the lithium-ion batteries. Therefore, to avoid the risks of electrolyte leakage and battery explosions along with the development of lightweight power banks, the manufacturers are offering Li-polymer batteries-installed devices.
Demand for power banks with moderate capacity ranging 10,001–15,000 mAh to be escalating rapidly during the forecast period
Power banks with the capacity segment of 10,000–15,000 mAh are expecting a remarkable demand in the market during the study timeframe. Power banks installed with 10,000–15,000 mAh batteries are available in the market at reasonable prices, as most of these power banks are based on Li-ion batteries. Hence, these power banks have longer battery life along with high output efficiency. Apart from this, the power banks under this segment come with additional features such as DC output for laptop recharging, fast charging option, and USB type C ports.
Browse the full “Power Bank Market By Battery Type [Lithium Polymer (Li-Polymer) Battery and Lithium-Ion (Li-Ion) Battery], By Unit of USB Port (Single USB Port, Two USB Ports, and More than two USB Ports), By Indicator (Digital Display and LED Lighting), By Capacity (20,000 mAh & Above, 15,000–20,000 mAh, 10,000–15,000 mAh, 5,000–10,000 mAh, and 1,000–5,000 mAh), By Application (Portable Media Device, Smartphone, Laptop, Tablet, Digital Camera, Wearable Device, and Others), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/global-power-bank-market-by-battery-type-lithium-801
Based on battery type, the global power bank market can be segmented into Lithium Polymer (Li-Polymer), and Lithium-Ion (Li-Ion), with the 'Lithium-Ion' category having the leading market share of about 80 percent. On the basis of Unit Of USB Ports, the market is being bifurcated into Single USB Port, Two USB Ports, and More than two USB Ports. Based on indicators, the market is segmented into the digital display and LED lighting. Based on capacity, the market is segmented into 1,000–5,000 mAh, 5,000–10,000 mAh, 10,000–15,000 mAh, 15,000–20,000 mAh, and 20,000 mAh and above. Based on application, the market is segmented into smartphones, tablets, wearable devices, portable media devices, laptops, digital cameras, and others.
Power bank manufacturers prefer installing lithium polymer batteries in their recently launched and upcoming products, as these batteries are lighter in weight, more compact, devoid of electrolytes, offer fast charging & discharging feature, and have a flexible form factor compared to the lithium-ion batteries. Therefore, to avoid the risks of electrolyte leakage and battery explosions along with the development of lightweight power banks, the manufacturers are offering Li-polymer batteries-installed devices.
The global power bank market size research report delivers an acute valuation and taxonomy of the global power bank industry by practically splitting the market into the basis of different battery types, unit of USB ports, indicators, capacities, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the global power bank industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the global power bank industry is provided for the leading economies of the world.
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Power Bank Market: On the basis of regional analysis
In terms of geography, among regions such as North America, Europe, Latin America, and Middle East & Africa.
The Asia Pacific is projected to lead the global power bank market during the study timeframe
In 2019, the Asia Pacific region accounted for the major share of the global power bank market. The key factors that are going to propel the regional market are the rising adoption of consumer electronic goods & wearables, the constantly growing population, the remarkable growth in the per capita income in the developing countries of the region, and the presence of leading batteries & power bank manufacturers.
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This report segments the global power bank market as follows:
Global Power Bank Market: Battery Type Segmentation Analysis
- Lithium Polymer (Li-Polymer) Battery
- Lithium-Ion (Li-Ion) Battery
Global Power Bank Market: Unit Of USB Ports Segmentation Analysis
- Single USB Port
- Two USB Ports
- More than two USB Ports
Global Power Bank Market: Indicator Segmentation Analysis
- Digital Display
- LED Lighting
Global Power Bank Market: Capacity Segmentation Analysis
- 20,000 mAh and above
- 15,000–20,000 mAh
- 10,000–15,000 mAh
- 5,000–10,000 mAh
- 1,000–5,000 mAh
Global Power Bank Market: Application Segmentation Analysis
- Portable Media Device
- Smartphone
- Laptop
- Tablet
- Digital Camera
- Wearable Device
- Others
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