Press release
Emerging Sub-Segments Transforming the Power Bank Market Landscape
Power Bank Market
Forecasted Growth and Size of the Power Bank Market by 2030
The power bank market is projected to expand rapidly, reaching a valuation of $35.88 billion by 2030. This growth is expected at a compound annual growth rate (CAGR) of 12.2% during the forecast period. The surge can be linked to rising demand for high-capacity and fast-charging devices, increased adoption of lithium polymer battery technologies, wider availability of wireless and multi-device charging options, and innovations in ultra-compact battery packs. Additionally, the growing need for reliable power backup solutions due to remote work trends is further boosting market expansion. Leading trends anticipated to shape this market include the rise of eco-friendly solar-powered banks, smart fast-charging technologies, IoT-enabled charging platforms, AI-powered battery health management systems, and autonomous portable power solutions.
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Top Companies Leading the Power Bank Market
Several prominent companies dominate the power bank industry, including 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, Xiaomi 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., and Acer Inc.
Innovative Collaborations Enhancing Market Reach
In February 2024, Northern Trains Limited, a UK regional rail service provider, teamed up with Germany-based Joos GmbH to improve passenger convenience by offering portable power bank rentals. This system allows users to borrow a charger at one station and return it at another, addressing the growing demand for on-the-go charging in the transportation sector. Such initiatives are particularly important as travelers increasingly rely on mobile devices for digital ticketing and other services. Joos GmbH specializes in providing charging solutions across Europe.
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Partnerships and Collaborations Driving Innovation in Power Banks
Leading brands in the power bank industry are emphasizing collaborations to foster innovation and expand their market footprint. One notable example is the June 2023 partnership between Tempt, an Indian audio technology and lifestyle accessories brand, and Staunch Electronics India, a local manufacturing company. This alliance supports the Make-in-India initiative by localizing power bank production. By manufacturing Tempt power banks within India, both companies aim to strengthen the country's manufacturing capabilities and improve the local supply chain infrastructure.
Market Segmentation of the Power Bank Industry
The power bank market is categorized into several key segments as follows:
1) Battery Type: Lithium Ion and Lithium Polymer
2) Price Range: Low, Medium, and High
3) Application: Smartphones, Tablets, Digital Cameras, Laptops, and Other Applications
4) Distribution Channel: Online and Offline
Further subcategories under battery types include:
- For Lithium Ion: Cylindrical Lithium-Ion Batteries, Prismatic Lithium-Ion Batteries, Lithium-Ion Battery Packs
- For Lithium Polymer: Lithium Polymer Battery Packs, Flexible Lithium Polymer Batteries, Lithium Polymer Battery Cells
This segmentation provides a detailed understanding of the diverse offerings and consumer preferences within the power bank market.
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