North America Power Banks Market: Growing Demand for Solar Power Banks to Boost Market at 18.6% CAGR

A recent research report published by Transparency Market Research projects the North America power banks market to witness robust growth and expand at a CAGR of 18.6% during the period between 2015 and 2022. The report, titled “Power Banks (Exceeding 20,000 mAh, Portable Power Banks and Solar Power Banks) Market - North America Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2022” projects the overall market is estimated to stand at a valuation of US$2,596.9 mn by 2022. The power banks market in North America was worth US$675.5 mn in 2014.

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The report points out that increasing instances of power outages and blackouts have driven the market for high capacity power backup solutions. The growing demand for green energy and power efficiency across industrial sectors, coupled with the surging demand for multiport charging devices, has propelled the growth of the North America power banks market. However, availability of established substitutes and lack of product differentiation will restrain the growth of the market during the forecast horizon. The North America power banks market has a huge opportunity to grow across the industrial/ B2B market in the coming years.

On the basis of product type, the North America power banks market has been segmented into portable power banks and solar power banks. In 2014, portable power banks segment dominated the market. With growing concerns for energy conservation, the demand for solar power banks is expected to increase significantly during the forecast horizon. The solar power banks segment is projected to acquire 42.1% of the market in terms of revenue by 2022.

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In terms of power rating, the report categorizes the North America power banks market into 20,000mAh - 80,000mAh and above 80,000 mAh. In 2014, power banks with capacities ranging between 20,000mAh and 80,000mAh accounted for majority share in the market and are expected to be high in demand across the industrial and consumer spaces during the forecast period.

According to applications, the report segments the North America power banks market into industrial/ B2B and consumer electronics. Industrial/ B2B was the largest end-use segment in 2014 and accounted for a share of 64.3% in the overall revenue. The application segment is expected to dominate the overall market during the forecast period. The Industrial/ B2B segment has been further sub-segmented into law enforcement, resource extraction, fire fighting/ rescue, healthcare, construction, security, foreign aid, robotics, events, photography, fire fighting/ rescue, disaster preparedness/ emergency backup, and others including military, telecom, and other B2B applications. Resource extraction, healthcare, foreign aid are expected to register higher growth rates over the forecast period. Consumer electronics has been segmented into camping/ hiking/ hunting/ fishing/ marine/ backpacking and personal use.

The report profiles some of the key players in the North America power banks market such as Goal Zero Corporation, Gridless Power Corporation, Anker, IEC Technology LLC, Sony Corporation, and Limefuel LLC. The report provides insightful information about the key players including their business segmentation, revenue, and recent developments.

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This release was published on openPR.