Global Power Bank Market is expected to reach USD 32,167.56 million by 2024 from USD 6,474.80 million in 2016, at a CAGR of 22.3% in the forecast period 2017 to 2024. The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Pune, India -- (SBWire) -- 01/10/2018 --Global Power Bank Market segmented By Charge Capacity (Portable {3000 TO 5000 mAh, 5000 TO 10000 mAh}, Ultra-Portable {10000 mAh, 10000 – 15000 mAh, 15000 – 20000 mAh}, Big Charge, High Charge) , By Product Type (Portable Mobile {Solar Powered, Battery Operated, Multifunctional}, Laptop Power Bank Units, Phone Case), By Distribution Channel (Online Markets, Hypermarkets, Mobile Stores) Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa)

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Drivers: Global Power Bank Market

Some of the major factors driving the power bank market are the increase in the purchasing power, deterioration in the prices, growing usage of smart phones, tablets and laptops and technological advancements in power bank.

INCREASE IN PURCHASING POWER

The electronic gadgets have become a necessity of life, due to which there is an increase in the purchasing power of power banks. Growth in the economic development, better standard of living, digitalization, electricity shortage and advancement in the technology are some of the factors which are contributing in the rise of demand of purchasing power of power banks, which is driving the growth of the power bank market.

TECHNOLOGICAL ADVANCEMENTS

Power bank manufacturers are continuously enhancing its features due to the array of technological advancements taking place to make the product more updated, advanced and time consuming.  Enhancing advanced technologies in respect of replacement of 2 USB with 3 USB outputs, large battery life, light weighted, multi-port configuration type and many more are being done by the manufacturer.

DETERIORATION IN THE PRICES

The price of the power bank varies from brand to brand, along with its features, specification, usage, technology being used as well as the manufacturing cost. Another reason might be due to the schemes or the offers related to the products each company offers due to growing completion in order to increase their sales or to do a stock clearance. This affects the company's profitability but sometimes might affect company's sales.

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Major Players: Global Power Bank Market

Some of the major players operating in this market are


- AsusTek

- Xiaomi

- Lenovo

- Anker Technology Co. Limited

- Microsoft

- Panasonic Corporation

- Sony Corporation

- ADATA Technology Co., Ltd.

- Intex Technologies (India) Ltd.

- uNu Electronics Inc.

- Portronics and Century New Energy Battery Co. Ltd.

- Among other companies.


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