Mobile Power Bank Market Growth Factors, Comprehensive Research, Analysis by Leading Companies with Forecast till 2027

Mobile Power Bank Market Overview

The power bank is used to store energy from the input source. This product has gained immense popularity due to the higher adoption of digital products. The features such as multiple sockets, fast charging, durability, portability, and low-cost fuel there is accelerating its demand among the consumers. The increased usage of consumer electronic products such as digital cameras, tablets, mobile phones, and laptops are enhancing the growth of the Mobile Power Bank Market.

Power banks are portable to control the power flow range. The rise in demand for compact electronic devices is the major reason driving the market. 

The introduction of the 4G network and the regular usage of internet services with less power consumption is propelling the global market’s demand.

The rise of smartphone users and increased sales rate of power banks on online and e-commerce platforms is accelerating the sales of the Mobile Power Bank Market.

The emerging trends of wireless charging and improved battery capacity in consumer electronic products are hampering the market growth. Besides the development of solar and hydrogen fuel-based power banks, the usage of wearable devices is expected to drive opportunities in the global market. The Mobile Power Bank Market will reach a CAGR of 24 and an estimated value of USD 25.16 Billion by 2027 in the forecast period.

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Market Segments

The Mobile Power Bank Market is segmented into product type, battery type, power rating and application.

The product type segment is categorized into Solar Power Banks, Portable Power Banks, and Battery Cases.

The battery type is divided into Lithium-ion and Lithium-Polymer. The power rating segment of the market is classified into 3,000 mAh; 3001 mAh to 8,000 mAh; 8,001 mAh to 20,000 mAh; and Above 20,000 mAh. The application section is fragmented into Smartphones, Tablets, Portable Media Devices, and others.

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Regional Analysis

The Mobile Power Bank Market is distributed in prominent geographical regions such as North America, South America, Europe, Asia Pacific and the Middle East and Africa.

Asia-Pacific holds the highest market share due to the presence of industrial players in the regions like China and India. China holds the major position, which India follows. The higher utilization of the internet and the rise in the number of smartphone users is driving the market of this region. 

North America is noticing significant growth in the market due to the high requirement for web-based administrations. Europe is noticing solid development in the Mobile Power Bank Market due to a huge number of compact gadgets integrated with the web. 

Germany has a huge number of web clients, followed by France. The higher utilization of GPS and the web expands the market’s sales.

These regions will boost the global market’s growth in the forecast period.

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Industry News

In May 2020, ADATA launched a T5000C power bank with 5,000 mAh. It features a beautifully engraved floral pattern for a refreshing spring-inspired look and a tactile feel.

In March 2020, Xiaomi launched the 10,000 mAh power bank in India. It supports up to 10 W fast wireless charging. It also supports two-way fast charging, and 18 W wired charging.

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