Albany, NY -- (SBWIRE) -- 06/14/2018 -- Power banks are products that are used to place energy into rechargeable batteries or secondary cells through electric current or solar energy. Such products are portable in nature and can provide charge to electric devices without a power socket. Growing usage of gadgets and constant demand for frequent charging options has resulted in the rise in demand for power banks over the years. Power banks are generally used outdoors specially while travelling; hence quick and fast recharge of devices is one of the prime requirements of consumers. Additionally, some consumers travel for longer durations and need to charge their devices multiple times or have multiple devices, resulting in the rise in demand for power banks in recent years. Younger population are inclined toward using laptops rather than desktops and using cell phones for various other purposes, thus resulting in higher demand for convenient charging solutions. A strong distribution network also plays an important role in the global power banks market.

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In this report, the power banks market has been segmented on the basis of product type into portable power banks, solar power banks, and phone charging cases. Portable power banks dominated the market owing to the rise in adoption of power banks over the years. However, solar power banks are expected to witness the fastest growth rate during the forecast period. On the basis of power rating, the market has been segmented into up to 3,000 mAh, 3001 mAh to 8000 mAh, 8001 mAh to 20,000 mAh, and above 20,000 mAh. The market has been further segmented on the basis of different port types, applications, and distribution channels. On the basis of different port types, the market has been segmented into two and more than two. Power banks with multiple ports dominated the market due to the rising number of gadgets used by people across the globe. On the basis of application, the market has been segmented into industrial and consumer electronics. By distribution channel, the market has been segmented into online distribution channel and offline distribution channel. Offline distribution channel has been further segmented into supermarkets and hypermarkets, exclusive stores, multi-brand retail stores and others. Online distribution channel is expected to witness the fastest growth during the forecast period

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