Transparency Market Research

Rising Use of Handheld Electronic Devices to Drive Global Power Banks Market

Power Banks Market (Portable Power Banks, Battery Cases, Solar Power Banks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022


Albany, NY -- (SBWIRE) -- 09/10/2015 -- Increasing use of on-the-go electronic devices drives the outrageous demand for external batteries, enabling the power banks market to grow at a whopping 25.9% CAGR from 2014 to 2022, states a new market study from Transparency Market Research (TMR). The report, titled "Power Banks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022", states that the global power banks market, valued at US$7.36 billion in 2013, is expected to be valued at US$36.15 billion by 2022.By volume, in 2013, 334.2 million unit power banks were shipped. In the same year, North America contributed the largest revenue, accounting for almost 43% of the market, adds the report.

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Widespread and growing use of electronics such as smartphones, laptops, tablets, and other devices has led to increasing demand for external battery sources. This is one of the main reasons cited for the growing demand for power banks. Consistent advancement in broadband technology, with the availability of 3G and 4G wireless services, is fostering demand for electronics, which in turn is benefitting the power banks market.In addition, consistent technological advancements in consumer electronics combined with decreasing prices in price-sensitive regions is augmenting growth of the power banks market.

Growth of the e-commerce sector is regarded as a significant factor for the expansion of the power banks market. Leading companies in the market are focusing on strengthening their distribution channels to reach out to remote locations. To leverage the opportunities available in the power banks market, OEMs are developing low-cost products manufactured mainly in regions that have low labor costs and adopting multi channel retailing to reach out to a large number of consumers.According to the report, of late, lithium-polymer power banks have witnessed substantial demand in the developed economies of North America and Western Europe of late. This is mainly due to their features such as light weight, slimness, and safety in comparison to lithium-ion power banks.However, Asia Pacific is expected to exhibit the fastest growth in the power banks market due to low prices of power banks in South Korea, Indonesia, India, and China.

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In the emerging economies in Asia Pacific, Latin America, the Middle East, and Africa, lithium-ion power banks that are low in price will benefit the overall power banks market.In 2013, the 3001 mAh-8000 mAh battery capacity power banks segment contributed the largest revenue to the market. Power banks with a battery capacity of 3001 mAh-8000 mAh witnessed high demand due to growing ownership of high-end smartphones and the trend of owning multiple gadgets. The price of power banks with a battery capacity of 2200 mAh can be thrice as much as other power banks, since these power banks are majorly used to charge high-end smartphones, which has been a major revenue contributor to the overall market.However, 3,000 mAh power banks dominated the market for power banks. They are also expected to be the largest segment, by volume, in the forecast period, due to the low prices of these power banks.

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Market Segmentation of Global Power Banks Market:

Global Power Banks Market, by Product Type
Battery case
Global Power Banks Market, By Power Ratings (Capacity)
Below 3,000 mAh
3,001 mAh – 8,000 mAh
8,001 mAh – 20,000 mAh
Above 20,000 mAh
Global Power Banks Market, By Type of Battery
Global Power Banks Market, By Geography
North America
Asia Pacific
Middle-East and Africa
Latin America?

Key Questions This Study Will Answer:

What is the market size and potential for Power Banks Market products?
Which segment of Power Banks Market is growing the fastest? How long will it continue to grow, and at what rate?
What is the greatest challenge faced by the Power Banks Market and how can it be overcome?
Are the products and services offered currently meeting customer needs, or are there additional developments needed?

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About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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