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The Mobile Power Bank market has witnessed dynamic shifts in recent years, pushed with the aid of a confluence of technological improvements, converting customer behaviors, and evolving life. As the demand for transportable electronic devices continues to leap, so does the need for reliable and convenient power resources, propelling the increase of the Mobile Power Bank market. The marketplace dynamics are fashioned by means of various factors that interplay to create an aggressive and swiftly evolving panorama. One key driving force of market dynamics is the relentless tempo of innovation in the cell device era. As smartphones, pills, and other gadgets end up more sophisticated and electricity-hungry, customers are seeking power answers that can keep pace. This has spurred producers to develop Mobile Power Banks with higher capacities, faster charging skills, and compact designs.
Consumer options and lifestyle modifications are also tremendous contributions to marketplace dynamics. The increasing reliance on cell devices for paintings, amusement, and verbal exchange has made power banks a vital accent. Consumers now prioritize capabilities inclusive of slender designs, lightweight builds, and compatibility with a couple of devices. As the market responds to those choices, businesses have to stay agile to fulfill ever-changing patron demands. The aggressive landscape additionally plays a pivotal function in shaping market dynamics. The Mobile Power Bank marketplace is characterized by the presence of several gamers, starting from hooked-up electronics giants to rising startups. Intense competition fosters constant innovation and price wars, riding product upgrades and making electricity banks extra available to a broader patron base.
In addition to the dynamics driven by means of innovation, client alternatives, and competition, external elements consisting of economic conditions and geopolitical events can significantly impact the Mobile Power Bank market. Fluctuations in forex quotes, trade regulations, and worldwide delivery chain disruptions can pose demanding situations for manufacturers and influence pricing techniques. As the marketplace becomes increasingly interconnected on an international scale, companies have to navigate these external factors to maintain stability and increase.
Mobile Power Bank Market Highlights:
Global Mobile Power Bank Market Overview:
Mobile Power Bank Market size was valued at USD 20.1 billion in 2021. The mobile power bank market industry is projected to grow from USD 21.00 Billion in 2022 to USD 28.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2024 - 2032). Growing sales of mobile devices like smartphones & tablets and smartphone accessories are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Mobile Power Bank Market Trends
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Increasing adoption of power banks to boost the market growth
The market for mobile power banks is anticipated to grow instantly, witnessing increasing revenue from mobile devices like smartphones & tablets and smartphone accessories. Moreover, dropping prices of smartphones are anticipated to influence market growth. Market Research Future (MRFR) expects the global mobile power banks revenues to reach USD 28.5 Billion by 2030, with a 4.50% CAGR during the review period (2022 – 2030).
Further, Power bank manufacturers deal with fierce competition within the market due to the large number of producers existing in the market. mobile power banks are extremely price driven. Manufacturers have to value their power bank devices in coordination with the price of other power banks.
Additionally, the rise of new technologies such as artificial intelligence and mixed reality paired with the internet has fuelled the launch of new technology products and their power requirements, which fuels the growth of mobile power banks. Key Players such as Samsung electronics, Sony Corporation, and Xiamoi Corporation are used to sell power banks and other electronic products under a similar brand name; this helps them to sell more quantities of power banks by the brand effect. Therefore, the use of smart devices and battery-operated electronics has enhanced the mobile power bank market CAGR across the globe in recent years.
However, the broad use of social media applications, games, and video streaming reduces the life of the battery, which ultimately provides for the necessity of power banks and thus drives the mobile Power Bank market revenue.
Mobile Power Bank Market Segment Insights:
Mobile Power Bank Capacity Insights
The Mobile Power Bank Market segmentation, based on capacity, the 10,001-15,000 mAh segment is expected to increase at a high rate during the forecast period. These power banks have great output efficiency and longer life. Thus the extensive use of data and internet services over smartphones is among the main factors to contribute to the Mobile Power Bank Market revenue. However, these power banks have LEDs or LCDs to indicate battery level and are in high demand by consumers as they are priced more reasonably than power banks with capacities of more than 15,000 mAh.
May 2020: ADATA introduced the T5000C mobile power bank with a power capacity of 5,000 mAh which features an excellently engraved floral design for a refreshing spring-inspired look and a satisfying tactile feel.
March 2020: Xiaomi introduced the 10,000 mAh wireless power bank in India, which bears up to 10W fast wireless charging, and also bears two-way fast charging as well as 18W wired charging.
Mobile Power Bank Battery Type Insights
The Mobile Power Bank Market segmentation, based on battery type, they are classified into lithium-ion (Li-ion) and lithium polymer (Li-polymer) batteries. The lithium-ion segment held the largest market share of over 80.0% in 2019. Li-ion batteries offer numerous advantages, such as low self-discharge, high energy density, and lower maintenance. However, lithium-ion batteries are costly to produce owing to high costs and the complex preparation processes involved.
Alternatively, the Li-polymer battery segment is expected to record the highest CAGR over the study period. Li-polymer batteries are lightweight and flat-shaped and hence enable the production of compact and sleek power banks. These batteries are also preferred as they are considered safe in comparison to other batteries.
Moreover, an increase in demand for smartphones across the globe and the reduced cost of power banks have increased the demand for power banks for mobile power bank market growth.
Mobile Power Bank Type Insights
The Mobile Power Bank Market data is based on power bank type; power banks are classified into electric and solar. Manufacturers consistently focus on integrating new technologies into their power bank design to capture the market for mobile power bank. Each producer offers a variety of power banks with a range of features that cater to customers' needs. The demand for solar power banks is expected to increase in the coming years owing to the growing popularity of solar energy as an environmentally friendly alternative as they provide the added benefit of their ability to recharge without electricity, which, aside from being energy-efficient, is especially helpful while traveling.
February 2019: Anker Innovations introduced PowerCore 10,000 mAh PD power bank with dual USB ports, present with a USB Type-C port providing power up to 18W.This launch has further widened the growth opportunity for the mobile power bank.
Figure 2: Mobile Power Bank Market, by Surgery, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Mobile Power Bank Number of port Insights
Based on the number of ports, the global mobile power bank industry has been segmented into single and multiple ports. Power banks with multiple ports are preferable and have high demand as those power banks are big and come with a lot of extra features such as DC output ports used to recharge laptops, USB Type C ports, and Quick charge functionality.
There has been notable growth in the market for mobile power bank as the expansion of smartphones and multimedia devices acts as a great distribution network for power bank goods.
Mobile Power Bank Regional Insights
By region, the study states the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific mobile power bank sales accounted for USD 20.1 billion in 2021 and is expected to grow in coming years and witness a significant gain in revenue share over the forecast period across the region.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Mobile Power Bank Market SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Asia-Pacific mobile power bank market is expected to grow at the fastest CAGR from 2022 to 2030. Asia Pacific region dominated the global market in 2019. The increasing population, digitization, and affordability of power banks drive the adoption of power banks in the region. Moreover, the China mobile power bank market held the largest market share, and the India mobile power bank market was the speedy growing market in the Asia-Pacific region.
North America mobile power bank market accounts for the second-huge market share due to the development in the mobile power bank because of the third biggest no. of PDA clients. Further, the German mobile power bank market held the largest market share, followed by the UK mobile power bank market was the fastest-growing market in the European region.
Mobile Power Bank Key Market Players & Competitive Insights
Major market players spend a lot of money on R&D to expand their product lines, which helps the mobile power bank sales grow even more. Market contributors are also taking a set of strategic initiatives to increase their global footprint, with key market developments such as new products, contract-based agreements, mergers and acquisitions, bigger investments, and collaboration with other organizations. Participants in the mobile power bank industry must provide cost-effective items to enlarge and survive in a highly advance and rising market environment.
One of the primary business strategies followed by producers in the global mobile power bank industry to satisfy clients and enlarge the market sector is to produce locally to lower operating costs. In recent times, the mobile power bank industry has supplied medicine with some of the most important benefits. The mobile power bank market major player such as Beijing Xiaomi Technology Co. Ltd., ADATA Technology Co Ltd (ADATA), and others are working on expanding the market demand by investing in research and development activities.
Beijing Xiaomi Technology Co. Ltd. technology product and services company founded in early 2010, focusing mainly on smartphones and Internet of Things products and related internet services. An early adopter of online smartphone sales, Xiaomi uses Android as its operating system but has its own customized user interface called MIUI. For Instance, Beijing introduced a shared power bank system that can be seen in shopping malls and train stations, and more public venues like these.
ADATA Technology Co Ltd (ADATA) is engaged in and sale of electronic components. The company offers DRAM, modules, external storage products, flash products, solid state drives, USB, flash drives, power banks, memory cards and readers, and cables and accessories. For Instance, in September 2020, the company launched XPG GAMMIX S50 Lite PCIe Gen 4x4 M.2 2280 solid-state drive (SSD).
Key Companies in the for mobile power banks include
• Beijing Xiaomi Technology Co. Ltd.
• Microsoft Corporation
• Panasonic Corporation
• Sony Corporation
• Adata Technology Co. Ltd.
• Asustek Computer Inc.
• Ambrane India Pvt. Ltd.
• Anker Technology Co. Ltd.
• Intex Technologies (India) Ltd.
• OnePlus Technology (Shenzhen) Co. Ltd.
• UNU Electronics Inc.
• Samsung SDI Co. Ltd.
Mobile Power Bank Industry Developments
July 2023: A mobile power bank called the E30 Pro has been released by the Taiwan-based technology company Teclast. The power bank has an incredible 30000mAh battery capacity on top of a plethora of upgraded functions and cutting-edge technology. Additionally, the gadget features many charging methods and quick charging capabilities. The well accepted E20 Pro mobile power bank's successor, the E30 Pro, maintains the same dedication to dependability and quality. However, the E30 Pro raises the bar for portable power thanks to its larger battery and improved charging capability. This minimal iteration approach demonstrates Teclast's commitment to ongoing innovation and customer-centered design.
February 2023: Each of the three new additions to the powerstation array of portable power by mophie, a leading name in power, is made to conveniently and quickly charge popular smartphones & mobile devices. Your digital gadgets may receive quick, portable power from the mophie powerstation. Up to 20W of rapid charging power is output through its USB-C PD connector. Additionally, it features two USB-A connections so you may simultaneously charge three devices. The little power station has a 10,000 mAh internal battery that can handle your day's demands.
August 2022: In India, Xiaomi unveiled its first wireless powerbank. The latest Mi Wireless Power Bank costs $2,499 and comes in black. The powerbank is for sale on mi.com, Mi Home, as well as Mi Studios. With a 10,000mAh capacity and Qi certification, the Mi Wireless Power Bank is available. Both the USB Type A output port and the USB Type C input port support two-way 18W charging. Two mobile devices can be charged simultaneously using the gadget. Additionally, it has "non-skid" charging. In addition to promising a tangle-free experience, wireless technology also paves the way for what mobility and use on future surfaces and pads may truly entail.
August 2022: Ambrane, a mobile accessories brand in India, expanded its lineup of mobile accessories with the addition of its wireless mobile power bank Aerosync PB-10 in the country. The multipurpose power bank supports 18W two-way fast charging.
January 2019: Xiaomi introduced the newest version of its power bank Mi Power Bank 3 Pro, which bears two-way 45W fast charging down the USB Type-C port and comprises low power support for smart wearables and nine layers of circuit chip protection.
Mobile Power Bank Market Segmentation:
Mobile Power Bank Capacity Outlook
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1000-2500mAh
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2600-5000mAh
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5100-10400mAh
Mobile Power Bank Battery Outlook
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Li-polymer
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Li-ion
Mobile Power Bank – Power Bank Outlook
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Portable
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USB Plugin
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Solar Charger
Mobile Power Bank Number of Ports Outlook
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Single
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Multiple
Mobile Power Bank Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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