Press release
Power Bank Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Power Bank Market Outlook
The massive growth in the urban population has led to a surge in the usage of smartphones and tablets worldwide, subsequently resulting in an elevated need for power banks to charge these devices. For example, a report by UN Trade and Development, a Switzerland-based agency within the United Nations Secretariat, stated that in December 2023, over the previous decade, urbanization had escalated significantly in developing economies, especially in Asia and Oceania. Here, the urbanization rate moved up from 44.0% to 50.6% by 2022. As a result, the significant urban population growth is anticipated to boost revenues for the power bank market in the upcoming period.
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What is the future CAGR of the power bank market, and how will it impact industry expansion?
The expansion of the power bank market has been swift and considerable in the past few years. The market's value is set to increase from $18.59 billion in 2024 to an impressive $20.56 billion in 2025, growing at a compound annual growth rate (CAGR) of 10.6%. This significant growth during the historic period can be traced back to the rise in the usage of mobile devices and smartphones, the need for portable and backup power solutions, the boom in travel and outdoor activities, their role in emergency and disaster readiness, along with regulatory standards ensuring battery safety.
In the coming years, the power bank market is anticipated to witness rapid expansion, reaching $33.1 billion by 2029 with a compound annual growth rate (CAGR) of 12.6%. This growth is expected to be fueled by factors like high-capacity, fast charging power banks, an upswing in electric scooter and bike charging, power banks tailored for certain devices, expansion in solar and wireless charging power banks, and increased use of such devices in wearables and IoT devices. Key trends during this forecast period encompass regulatory compliance pertaining to power bank safety and standards, smart and IoT integrated power banks, sustainable and environment-friendly power bank solutions, custom-designed power banks for certain user requirements, transparency in battery sourcing and recycling, and inclusion of power banks in outdoor adventure equipment.
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What are the most significant trends transforming the power bank market today?
Wireless power banks have been identified as a notable and burgeoning trend in the power bank market, presenting an enormous scope for progression in the near future. The use of these products will allow the owners of electronic devices to recharge them from any location, offering a superb touch-free experience. These styles of power banks offer expedited charging capabilities and several charging alternatives. An added convenience for the consumer is the elimination of the need to carry and connect an additional cable. Recognizable brands such as Samsung, Xiaomi, Ambrane, among others, have already initiated the process of investing in the production of wireless chargers for various smartphone models. In October 2022, Stuffcool, a company based in India that specializes in making high-quality accessories for smartphones, tablets and laptops, announced the launch of a new Made in India 15W wireless charging power bank, equipped with a 20W PD wired output. This updated Stuffcool wireless power bank is distinguished by its light-weight and sleek design, an LED light that signals the battery level during both charging and discharging phases, a micro USB socket, and a USB Type-C charging port.
Which key market segments comprise the power bank market and drive its revenue growth?
The power bank market covered in this report is segmented -
1) By Battery Type: Lithium Ion, Lithium Polymer
2) By Price Range: Low, Medium, High
3) By Application: Smart Phone, Tablet, Digital Camera, Laptop, Other Applications
4) By Distribution Channel: Online, Offline
Subsegments:
1) By Lithium Ion: Cylindrical Lithium-Ion Batteries, Prismatic Lithium-Ion Batteries, Lithium-Ion Battery Packs
2) By Lithium Polymer: Lithium Polymer Battery Packs, Flexible Lithium Polymer Batteries, Lithium Polymer Battery Cells
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What regions are at the forefront of power bank market expansion?
Asia-Pacific was the largest region in the power bank market in 2024. The regions covered in the power bank market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the power bank market?
Major companies operating in the power bank market include Ambrane India Pvt. Ltd., ADATA Technology Co. Ltd., Anker Innovations Technology Co. Ltd., AsusTeK Computer Inc., Griffin Technologies Inc., Intex Technologies india Ltd., Lenovo Group Ltd., Panasonic Corporation., Rav Power And Infra (India) Private Limited, Sony Corporation., Xiamoi Corporation., Aukey Technology Co. Ltd., Dell Technologies Inc., Duracell Inc., Changsha Meng Tuo Electronic Commerce Co. Ltd., iWALK Global Co Ltd., Microsoft Corporation, myCharge, OmniCharge Inc., Syska led lights Pvt Ltd., TP-Link Technologies Co. Ltd., Uimi Technology Pvt. Ltd., OnePlus Technology Co. Ltd., UNU Electronics Inc., Samsung SDI Co Ltd., Belkin International Inc., Zendure Deutschland., Jackery Inc., Shenzhen Value in Action Technology Co.Ltd., Poweradd, Tylt Inc., ROMOSS Technology Co. Ltd, Maxell Holdings Ltd., GP Batteries International Limited, Toshiba Corporation., Huawei Technologies Co. Ltd., ZTE Corporation, LG Electronics Inc., HP Inc., Acer Inc.
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What Is Covered In The Power Bank Global Market Report?
•Market Size Forecast: Examine the power bank market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power bank market for a structured understanding.
•Key Players Overview: Analyze major players in the power bank market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power bank market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power bank market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power bank market.
•Industry Challenges: Identify potential risks and obstacles affecting the power bank market.
•Competitive Landscape: Review strategic developments in the power bank market, including expansions, agreements, and new product launches.
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