Power Banks Market 2021 Expected to reach US$ 29 billion with 10.7% CAGR Forecast to 2031

Portable Battery Pack(Power Banks) Market 2021-2031

The study reveals that the market for power battery pack globally have secured an estimated nearly US$ 6.5 Bn, in terms of value and anticipated to procure US$ 29 Bn by 2031-end, experiencing substantial growth in the revenues by reflecting 10.7% CAGR.

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Large number of potential mobile phone consumer in the globe are opting for power banks, also known as power battery packs is fairly plausible. Moreover, attraction of smartphone users towards the use of power banks is likely to remain contingent on their lifestyle.

The study led by Persistence Market Research reveals that multimedia device & smartphone propagation delivers as a robust distribution network to the power battery packs products. The major findings of the report states that the customers are likely to remain more attractive to the power banks with large storage capacity. Further, the report reveals that an estimated 200 Mn units of the power banks with 5000 to 7500 mAh capacity were globally sold in the year 2016.

Also, it is forecasted that demand for power banks in foreseeable period is likely to increase at high growth rate, leading market players to increase their product range for 7500 to 10000 mAh as well as more than 10000 mAh capability power banks. More than 10000 capacity power banks are likely to be sold at faster rate by the end of forecast period throughout the world.

Key Players:

The report has profiled some of the Important players prevalent in the global like – Braven LC – Energizer Holdings, Inc., INCIPIO Technologies, Inc., mophie, Inc., Anker Technology Co. Limited., and Cheero USA and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Portable Battery Pack.

Segmental Analysis of Market

According to their prevalence nowadays, Lithium-ion (Li-ion) power banks are likely to retain its dominance throughout the forecast period, owing to high preference by consumers. Li-ion battery efficiency in transmitting power and charging is anticipated to keep influencing the growth of the global Li-ion power battery packs market. The report forecasts that by the end of forecast period every 2nd power bank, which will be traded will be armed with Li-ion battery. Further, Li-ion battery traction is likely to be contested with increasing inclination towards power banks with Lithium-polymer (Li-polymer). It is anticipated that by the end of forecast period, almost 500 Mn entities of Li-polymer power banks will be sold across the world.

Dynamics of Market

In terms of revenues, over two-third share of the global power bank market collected between 2016 and 2025, is likely to be procured by mobile phones and smartphones. Importance of mobile phones compared to any other multimedia devices will be less cease in foreseeable period. Number of leading smartphone and mobile manufacturers have entered in the power bank market, with a goal to particularly serve to their consumers. The tablets will follow the mobile phones. They was the second leading products that used of power banks in the year 2016. The power banks uses by means of tables was 150 Mn units in the year 2016. The report assesses the global power bank market revenues will be majorly accounted by Tablets.

Key Takeaways

The high-priced power battery packs are likely to gain traction in the market relative to the mid-priced and low-priced power banks.
In terms of consumption and production of power battery packs, Asia-Pacific (APAC) is likely to remain most lucrative region.

The market for power banks in the APAC is estimated to reach US$ 7.8 Bn by the end of 2024.
Most of the key players in the global market, which are highly contributing in the growth of the market include Panasonic Corporation, BYD Company Limited, Sony Corporation, and Simplo Technology Co. Ltd. These prominent companies are located in APAC economies such as Taiwan, Japan and China.
Several leading market players in the US playing vital role in the growth of the market include, Braven LC – Energizer Holdings, Inc., INCIPIO Technologies, Inc., mophie, Inc., Anker Technology Co. Limited., and Cheero USA, Inc.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)

Key Stakeholders 
Portable Battery Pack Market Manufacturers 
Portable Battery Pack Market Distributors/Traders/Wholesalers 
Portable Battery Pack Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Major Highlights of the Portable Battery Pack Market Report:

The Portable Battery Pack Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Portable Battery Pack Market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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About PersistenceMarketResearch:

PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

This release was published on openPR.