Global High Capacity Power Banks Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Over the last few years, there has been a rise in media consumption through handheld devices, which further requires a backup power source such as power banks to keep the devices charged. Additionally, with the increased demand for consumer devices with greater features and functionality, the market for power banks has historically experienced high growth, this is expected to fuel market expansion even during forecast period.

Global High Capacity Power Banks Market was valued at USD 4,200.0 million in 2021 and is expected to reach USD 5837.02 million by 2029, registering a CAGR of 4.20% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

A power bank is a portable charger that allows you to charge your electronic gadgets while on the go. They come in a variety of sizes, from small, pocket-sized devices to bigger, higher-capacity Power Banks, and can be used to charge smartphones, tablets, and other electronic devices. If you expect to spend a lot of time on the road, high-capacity power banks are a must-have. These monsters with capacities ranging from 25000mAh to 50000mAh can power larger gadgets like digital cameras and computers, as well as recharge your phone numerous times.

Report Scope and Market Segmentation

High Capacity Power Banks Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Decline in Price of High Capacity Power Banks

The power bank market has become extremely competitive due to the growing number of new entrants into the market. To stay competitive and expand their customer base, the corporations are lowering the pricing of their power banks. As a result, the decline in price of the power banks by the manufacturers will boost the market growth.

• Increased Utilization of High Capacity Power Banks

Tablets, smartphones, phablets, and other digital devices have seen increased demand and usage, propelling market expansion. Furthermore, businesses have embraced bring your own device (BYOD) movement, which has given rise to the concept of a mobile workforce. Moreover, owing to the nature and complexity of work in the corporate and commercial sectors, there is expected to be a large increase in demand for portable consumer devices. The increased utilization of these high capacity power banks across various sectors accelerate the market’s growth.

• Rapid Economic Growth

The increased consumer purchasing power, improved living standards and rapid economic development have all benefited the market, resulting in widespread digitalization and the widespread availability of affordable power banks.

Furthermore, the consistent use of internet services as well as the rising power consumption of electronic devices will further propel the growth rate of high capacity power banks market. Additionally, the increase in sales of power banks on online portals and the e-commerce websites will also drive market value growth. The vendors are always developing to minimize size and weight while also increasing their capacity to charge quickly, which is expected to have to bolster the growth of the market.

Opportunities

• Advancements and Trends

Furthermore, various advancements by the market players such as development of solar and hydrogen fuel-based power banks extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increase in trend of wearable devices and emerging trends toward wireless power banks will further expand the future growth of the high capacity power banks market.

Restraints/Challenges

• Low Quality of Power Banks

Many companies have entered the high capacity power bank industry that offers power banks with different pricing, and styles. However, not all high capacity power banks are of high quality, since some only last six months. The power banks of poor quality can overheat, shorten the battery life and in the worst-case situation, explode. To entice customers, they are usually priced low. A few companies employ recycled batteries, which raises the risk of an explosion. As a result, high capacity power banks with a low-quality is projected to stymie market expansion.

• Highly Competitive Market

There is an enormous amount of power bank producers on the market, there is severe competition. Each company offers a selection of power banks with different characteristics to meet the needs of their clients. This makes it difficult for a corporation to stay in business unless it updates its power bank technology on a regular basis. Manufacturers must price their power banks in line with similar power banks on the market. It is difficult for a new entry to survive and compete with established competitors in such a fiercely competitive industry, which poses as a challenge within the forecasted period.

This high capacity power banks market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the high capacity power banks market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on High Capacity Power Banks Market

The recent outbreak of coronavirus had a negative impact on the high capacity power banks market. The negative effect on the market can be attributed to the significant slowdown in many businesses' supply chains, a drop in corporate confidence, and an increase in panic among customer segments. Moreover, the pandemic's overall influence affected the manufacturing processes of various end use industries, including semiconductors and electronics, as the electronic manufacturing hubs have been temporarily shut down. This has had a significant impact on the semiconductor supply chain, resulting in material, component, and finished goods shortages. In the compound semiconductor industry, a lack of business continuity has resulted in major negative consequences on revenue, shareholder returns, and revenue, all of which are predicted to cause financial disruptions. The supply chains were severely hampered by trade obstacles and the consumer demand decreased because the people were more focused on removing non-essential expenses from their budgets. The overall production process was affected as a result of the total lockout and temporary suspension of industries.

On the flip side, with the decline in COVID cases and the various industrial manufacturing and supply operations continuation, the market is estimated to gradually gain the same pace of growth as pre-pandemic levels. The market is projected to flourish as the regulatory bodies have relaxed the enforced lockdowns, which further resumed various previously suspended and cancelled operations. The market players are also coming up with various advanced innovations and product development strategies, which will result in the market expansion.

Recent Development

• In May 2020, Gionee has introduced a new GBuddy 10,000mAh wireless power bank. In India, the newly created power bank is priced at INR 3,999 and is available for purchase on the e-commerce site Amazon India. The company had started selling the power bank for INR 1,299 as part of its debut deal.
• In June 2020, The Xiaomi has launched a Mi Power Bank 3  with 30,000mAh battery capacity, which is enough to charge the current iPhone SE more than ten times and the company's flagship Mi 10 roughly five times. Xiaomi's latest power bank is a big advance over the Power Bank 2 and features a robust build.

Global High Capacity Power Banks Market Scope

The high capacity power banks market is segmented on the basis of energy sources, battery type, charging mode, USB port, indicator, price range, application, distribution channel and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Energy Sources

• Electric
• Solar

Battery Type

• Lithium Ion Battery
• Lithium Polymer Battery

Charging Mode

• Wired
• Wireless

USB Port

• One USB Port
• Two USB Ports
• More Than Two USB Ports

Indicator

• LED Lighting
• Digital Display

Price Range

• Low
• Medium
• Premium

Application

• Smartphone
• Tablet
• Wearable Device
• Digital Camera
• Laptop
• Portable Media Device
• Others

Distribution Channel

• E-commerce
• Brick and Mortar

End Users

• Healthcare
• Robotics
• Law Enforcement
• Security
• Construction
• Others

High Capacity Power Banks Market Regional Analysis/Insights

The high capacity power banks market is analyzed and market size insights and trends are provided by country, energy sources, battery type, charging mode, USB port, indicator, price range, application, distribution channel and end users as referenced above.

The countries covered in the high capacity power banks market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Norway, Finland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Nigeria, Algeria, Angola, Ghana, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the high capacity power banks market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the surging preference for high power efficiency as well as the green energy adoption in industrial applications. U.S. high capacity power banks market presents considerable potential for manufacturers in the field of product enhancement to fulfil multi-application needs over the projected period.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rapid expansion of end-use industries within the emerging economies in the region. Moreover, the decreasing costs of mobile technology have resulted in a considerable growth in the number of smartphones in emerging economies such as India, China, and Brazil, which boosts the market growth.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and High Capacity Power Banks Market Share Analysis

The high capacity power banks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to high capacity power banks market.

Some of the major players operating in the high capacity power banks market are

• ADATA Technology Co., Ltd. (China)
• Microsoft (U.S.)
• Griffin Technology Inc. (U.S.)
• Panasonic Corporation (Japan)
• Sony Group Corporation (Japan)
• UNU Electronics Inc. (U.S)
• Syska (U.S.)
• OPPO (China)
• SAMSUNG (South Korea)
• Anker Technology (UK) Ltd., (China)
• AUKEY (China)
• Xiaomi (China)
• ADATA (Taiwan)
• RAVPower (U.S.)
• Lenovo (China)
• ZAGG Inc.  (U.S.)
• AMBRANE India (India)
• INTEX Technologies (India)
• Duracell (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• Zendure USA Inc. (U.S.)

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