Global Power Banks Market to Reach $16.1 Billion by 2026
SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Power Banks - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: May 2021
Executive Pool: 11009
Companies: 93 - Players covered include ADATA Technology Co., Ltd.; Ambrane India Pvt. Ltd.; Anker Innovations; Aukey International Ltd.; EasyAcc; Griffin Technology; Intex Technologies; iWalk; Lenovo Group Limited; myCharge; Omnicharge; Philips North America LLC; PNY Technologies, Inc.; RAVPower; Shenzhen ROMOSS Technology Co., Ltd.; Syska; TP-Link Technologies Co., Ltd.; Uimi Technology Pvt. Ltd.; UNU Electronics Inc.; Voltaic Systems; Xiaomi Corporation; ZAGG Inc. and Others.
Coverage: All major geographies and key segments
Segments: Battery Type (Lithium Ion, Lithium Polymer); Capacity (Upto 3,000 mAh, 3,001 - 8,000 mAh, 8,001 mAh -20,000 mAh, Above 20,000 mAh); Application (Smartphones, Tablets, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
ABSTRACT-
Global Power Banks Market to Reach $16.1 Billion by 2026
Power banks assist users in recharging devices with USB capability. The increasing popularity of mobile apps and social media platforms has pushed the time spend by users on mobile phones, creating strong demand for power banks. Global market for mobile phone accessories including power banks is growing at a steady rate driven by increasing sales of handheld mobile devices such as smartphones and tablets. Factors supporting growth including increasing affordability of smartphones due to decline in prices, product/technology innovations, diversification of product portfolios, and growing need for mobile phone users to effectively maintain their devices. Rapid urbanization, rapid penetration of mobile devices, rising disposable incomes, extensive distribution networks, growing sales of accessories through e-tailers, and burgeoning multi-brand retailers and distributors, particularly in emerging markets such as Asia and Latin America, are significantly driving the demand for smartphones, which in turn is spurring the sales of smartphone accessories. The power bank market is witnessing increasing influence of technological advancements and evolving consumer demand for more features. The need to stay competitive is driving vendors of portable electronics devices to incorporate new and more powerful features, while embracing new technology to keep devices streamlined and compact.
Amid the COVID-19 crisis, the global market for Power Banks estimated at US$8.5 Billion in the year 2020, is projected to reach a revised size of US$16.1 Billion by 2026, growing at a CAGR of 11.1% over the analysis period. Lithium Ion, one of the segments analyzed in the report, is projected to record 10.7% CAGR and reach US$12.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lithium Polymer segment is readjusted to a revised 12.2% CAGR for the next 7-year period. Li-ion batteries remain the most popular option among manufacturers owing to their superior energy density, conversion rates and energy capacity. The lithium-polymer (Li-polymer) battery segment's growth is driven by engagement of various smart phone manufacturers in production of power banks and higher safety of these batteries than traditional options.
The U.S. Market is Estimated at $2 Billion in 2021, While China is Forecast to Reach $3 Billion by 2026
The Power Banks market in the U.S. is estimated at US$2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$3 Billion by the year 2026 trailing a CAGR of 12.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.7% and 9.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.2% CAGR. Asia-Pacific continues to be at forefront of market expansion on account of rising population, favorable macroeconomic scenario and growing prevalence of consumer electronic and wearable devices. Rising demand for portable consumer electronic devices such as smart phones and wearable devices in countries including India, China, South Korea and Japan is creating strong growth prospects for power banks. The trend can be credited to increasing per capita incomes across developing countries and the resulting improving living standards. More
MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter
https://twitter.com/marketbytes
Journalists & Media
[email protected]
SOURCE Global Industry Analysts, Inc.
![](https://rt.prnewswire.com/rt.gif?NewsItemId=LA68725&Transmission_Id=202108101040PR_NEWS_USPR_____LA68725&DateId=20210810)
Share this article