Power Bank Market Size & Share | Industry Analysis Report, 2018-2022

The power bank market is expected to be valued at USD 25.16 billion by 2022, at a CAGR of 21.2% between 2017 and 2022. The growth of this market is propelled by the increasing usage of electronic devices such as smartphones and tablets, increased power consumption of electronic devices due to technological advancements, and electric outage in certain countries.

The capacity range of 9500–12499mAh accounted for the largest share of the power bank market in 2016. The rising adoption of power banks that are capable of charging a device several times is expected to drive the growth of the market for power banks with a capacity range of 9500–12499mAh.

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The power bank market for more than two USB ports is expected to grow at a high rate between 2017 and 2022. Consumers demand for power banks with three or four USB ports as they are capable of charging three to four devices, simultaneously. Moreover, these devices are now available with higher capacities; this has increased the demand for power banks with three or four USB ports.

Power banks that derive power from electric power grids accounted for a major market share in 2016. The benefits offered by these devices such as easy accessibility, low prices, lightweight, compact size, and suitability for charging any portable electronic devices are contributing to the increasing the demand for electric-based power banks.

Lithium ion batteries held the largest size of the power bank market in 2016. Li-ion batteries offer various advantages such as high energy density, relatively low self-discharging, and low maintenance. The power bank market for lithium polymer batteries is expected to grow at a high rate between 2017 and 2022. Lithium polymer batteries are moldable, lightweight, and come in a flat shape; these factors enable electronic device manufacturers to develop thin and compact electronic devices. These batteries are preferred as they are light in weight and have a flexible form factor, and are safer than other batteries.

Smartphones hold the largest size of the power bank market; the market for smartphones is expected to grow at a high rate between 2017 and 2022. The increasing penetration of smartphones, along with the extensive use of Internet services, is draining the battery power of smartphones rapidly. Hence, the demand for power banks to run smartphones for a longer duration is increasing in the market.

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