Portable Charger Market Size was valued at USD 7251.2 Billion in 2022. The Portable Charger Market industry is projected to grow from USD 7998.0 Billion in 2023 to USD 17522.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.30% during the forecast period (2024 - 2032). The rapid increase in demand for compact electronic devices equipped with rechargeable batteries, including smartphones, tablets, and laptops, is expected to be a significant market driver for the Portable Charger Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Portable Chargers is driven by the growing demand for various digital devices and technological advancements. The increasing demand for digital devices such as smartphones, laptops, tablets, digital cameras, and other gadgets is anticipated to drive the growth of the portable charger market. In Canada, smartphone ownership rose from 80% in 2018 to 84% in 2020, with significant growth observed among seniors. The majority of Canadians aged 15 to 44 (96%) and aged 45 to 64 (87%) reported owning a smartphone in 2020. In 2023, over 80% of the Canadian population are active smartphone users. In India, the traditional PC market, comprising desktops, notebooks, and workstations, grew by 0.3% year-over-year (YoY) in 2022, reaching 14.9 million units, despite a significant decline of 28.5% YoY in the fourth quarter. HP Inc. led the market with a 30.2% share in 2022, driven by strong demand from global accounts and the government segment, despite a decline in notebook sales.
Moreover, advancements in portable charger technology are expected to further fuel market growth in the forecast period. Market players are developing solar energy-based portable chargers, and presenting innovative solutions. Various solar power banks are available in the market, including RAVPower, FEEKEA, Foxelli, Rockpals, SUAOKI, and Nekteck, among others. As a result, it is anticipated that throughout the projection period, demand for the Portable Charger Market will increase due to the Growing demand for various digital devices and technological advancements. Thus, driving the Portable Charger Market revenue.
The Portable Charger Market segmentation, based on Type, includes Single Solar Plate, LED Light, and Voltage Adjustable. The single solar plate segment dominated the market, accounting for 58% of market revenue (4638.8 Billion). Single solar plates offer versatility in charging various devices such as smartphones, tablets, cameras, GPS devices, and other electronics. This adaptability appeals to consumers seeking a single, multi-functional charging solution for their devices during outdoor excursions or while traveling.
Figure 1: Portable Charger Market, by Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Portable Charger Market segmentation, based on Application, includes Mobile Phones, Digital Cameras, MP3 & MP4 Devices, Automotive, Laptop, and Others. The Mobile Phones segment dominated the market, accounting for 58% of market revenue. The widespread utilization of data and internet services on smartphones is a significant factor contributing to rapid battery drain. As a result, there is a substantial demand for power banks to extend the operational lifespan of smartphones. With smartphones often featuring batteries with limited longevity, the reliance on power banks becomes even more pronounced. Consequently, this scenario underscores the considerable potential for power banks within the smartphone market.
The Portable Charger Market segmentation, based on Sales Channels, includes Online and Offline. The Offline segment dominated the market, accounting for 60% of market revenue. Offline stores provide consumers with immediate access to portable chargers, enabling them to make purchases and utilize the products without the delay of shipping or delivery. This instant availability appeals to individuals seeking prompt solutions to their charging requirements, thereby boosting sales in the offline segment. Additionally, certain consumers may opt to buy portable chargers from brick-and-mortar stores due to the perceived trustworthiness and reliability associated with physical establishments. They may feel assured about the quality and authenticity of products obtained from these stores, thereby driving growth in the offline segment.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. As per the GSM Association, the smartphone penetration rate in North America was estimated to be approximately 81% in 2021, with around 329 million individuals subscribing to mobile services. Mobile technologies and services continued to play a significant role in the region's economy, contributing 4.2% to the GDP in 2021. This high penetration rate can be attributed to factors such as advanced telecommunications infrastructure, widespread internet access, and a high standard of living. With the rising popularity of mobile applications and services, the demand for smartphones is on the rise. The United States boasts one of the world's largest smartphone markets, with over 310 million smartphone users as of 2023. As people spend more time on their phones, battery consumption increases, leading to a need for solutions to extend battery life and ensure uninterrupted usage. Consequently, the production of power banks in North America is also experiencing growth in response to the increasing demand for smartphones.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PORTABLE CHARGER MARKET SHARE BY REGION 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Portable Charger Market accounts for the second-largest market share as individuals transitioned to remote lifestyles, and increased demand for reliable power sources arose, which partially offset the downturn in the market. In the European Union (EU) in 2022, half of the enterprises with 10 or more employees or self-employed individuals conducted remote meetings via the Internet. Among EU member states, there was considerable variation in the percentage of enterprises utilizing this feature, with the highest shares observed in Sweden (79.4%) and Finland (78.5%), followed by Denmark (78.0%), Malta (68.3%), and Ireland (63.6%). The crisis spurred innovation, leading some manufacturers to diversify their product lines to address emerging needs, such as portable chargers with enhanced features for remote productivity. Further, the German Portable Charger Market held the largest market share, and the UK Portable Charger Market was the fastest-growing market in the European region
The Asia-Pacific Portable Charger Market is expected to grow at the fastest CAGR from 2024 to 2032. India and China play significant roles in the Asia-Pacific region due to their large populations and increasing utilization of electronic devices, which has consequently heightened the demand for portable chargers. In China, fixed-asset investment in the electronic information manufacturing industry increased by 9.3% year-on-year in 2023, outpacing the overall industry growth by 0.3 percentage points, according to the Ministry of Industry and Information Technology. Major companies in this sector saw a 3.4% yearly increase in industrial added value, with a notable 9.6% climb in December alone compared to the same period in 2022. Among the key products, mobile phone output rose by 6.9% year-on-year to 1.57 billion units, with smartphones increasing by 1.9% to 1.14 billion units. The presence of developing countries in the region, coupled with the need for technological advancement, has further driven the demand for portable chargers. Moreover, China’s Portable Charger Market held the largest market share, and the Indian Portable Charger Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Portable Charger market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Portable Charger industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Portable Charger industry to benefit clients and increase the market sector. In recent years, the Portable Charger industry has offered some of the most significant advantages to the consumer electronics market. Major players in the Portable Charger Market, including Anker Innovations, Sony Europe B.V., Accutronics Ltd., Rizk National Industries LLC, Chengdu Khons Technology Co. Ltd., Omnicharge Inc., Platinet, Samsung SCI Co. Ltd., Lzen Electronics, ARD Accessories Pvt. Ltd is attempting to increase market demand by investing in research and development operations.
Anker stands as the global leader in charging technology, covering wireless charging, car charging, and top-selling portable and wall chargers. Pioneering Power Delivery technology, Anker facilitates the rapid charging of phones, tablets, and laptops at unprecedented speeds. Anker has been ranked as the top mobile charging brand worldwide for three consecutive years: 2020, 2021, and 2022. This ranking is based on retail value sales and considers brands whose mobile phone charging products contribute to more than 75% of their retail sales. Mobile phone charging products encompass chargers, wireless chargers, power banks, and charging cables, which can also be utilized for other consumer electronics devices.
Platinet operates as an international company experiencing rapid growth in various sectors, including consumer electronics, storage media, wireless technologies, mobile devices, and computer accessories. Renowned for producing and distributing high-quality electronics, Platinet holds a leading position among Poland's largest exporters. With a track record spanning over a decade, Platinet has established efficient business standards enabling global operations and management of a portfolio exceeding 3,000 products. With headquarters in Europe, the USA, and China, Platinet maintains a strong global presence, providing stability for both the company and its clients. Platinet's offices are strategically located in key countries worldwide, including Shenzhen (China), Hong Kong, New York, and Bucharest, with European headquarters in Krakow. The European logistic center, situated in Poland at the geographical heart of Europe, ensures swift delivery services.
May 2020: ADATA introduced the T5000C power bank, boasting a 5,000 mAh power capacity. It showcases an intricately engraved floral pattern, evoking a refreshing spring-inspired aesthetic and offering a satisfying tactile experience.
March 2020: Xiaomi introduced its 10,000 mAh wireless power bank in India, which is capable of supporting up to 10W fast wireless charging. The power bank also facilitates two-way fast charging, along with 18W wired charging capabilities.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 7251.2 Billion |
| Market Size 2023 | USD 7998.0 Billion |
| Market Size 2032 | USD 17522.2 Billion |
| Compound Annual Growth Rate (CAGR) | 10.30% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Sales Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Anker Innovations, Sony Europe B.V., Accutronics Ltd., Rizk National Industries LLC, Chengdu Khons Technology Co. Ltd., Omnicharge Inc., Platinet, Samsung SCI Co. Ltd., Lzen Electronics, ARD Accessories Pvt. Ltd |
| Key Market Opportunities | Development of solar and hydrogen fuel cell-based power banks |
| Key Market Dynamics | Increased utilization of electronic appliances |
Frequently Asked Questions (FAQ) :
The Portable Charger Market size was valued at USD 7998.0 Billion in 2023.
The Portable Charger Market is projected to grow at a CAGR of 10.30% during the forecast period 2024-2032.
North America had the largest share of the global market
The key players in the market are Anker Innovations, Sony Europe B.V., Accutronics Ltd., Rizk National Industries LLC, Chengdu Khons Technology Co. Ltd., Omnicharge Inc., Platinet, Samsung SCI Co. Ltd., Lzen Electronics, ARD Accessories Pvt. Ltd
The Single solar plate segment dominated the market in 2023.
The offline segment had the largest share of the global market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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