Asia-Pacific Power Bank Market by Battery Capacity (Upto 5000 mAh, 5001-10000 mAh, 10001-20000 mAh, Above 20000 mAh), by Battery Type (Lithium-ion (Li-ion) and Lithium-Polymer (Li-Po)), by Portability (Mini Power Banks, Compact Power Banks, and Larger High Capacity Power Banks), by Charging Technology Type (MagSafe or Wireless Charging Support and Standard Charging Support), by Number of Ports (1 to 2 Ports, 3 to 5 Ports, and More than 5 Ports), by Design (Standard Power Banks and Rugged Power Banks), by Display technology (Power Banks with Display Technology and Power Banks without Display Technology), by Compatibility (Universal Power Banks and Device Specific Power Banks), by Power Output (Less Than 15W, 15W-65W, 66W-200W, and More than 200W), and by Distribution Channel (E-commerce Or Online and Offline) – Opportunity Analysis and Industry Forecast, 2024 – 2030
Industry: Retail and Consumer | Publish Date: 19-Mar-2024 | No of Pages: 308 | No. of Tables: 334 | No. of Figures: 229 | Format: PDF | Report Code : N/A
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Market Definition
Asia-Pacific Power Bank Market size was valued at USD 848.83 million in 2023, and is predicted to reach USD 997.19 million by 2030, with a CAGR of 1.9% from 2024 to 2030.
The power bank industry is dedicated to designing, manufacturing, and distributing portable charging devices. These devices, typically equipped with lithium-ion or lithium-polymer batteries, are engineered to store electrical energy and provide on-the-go charging for many portable electronic devices such as smartphones, tablets, digital cameras, and laptops. The industry has evolved rapidly, responding to the increasing reliance on mobile devices and the consequent need for portable power solutions.
The advantages of power banks are numerous and significant. Their primary benefit lies in their portability, allowing users to charge electronic devices without a stationary power source. This feature mainly benefits people who travel frequently or engage in outdoor activities. Moreover, power banks are designed to be compact and lightweight, enhancing their convenience.
Additionally, modern power banks are available in various capacities, enabling them to store enough energy to charge multiple devices or provide several charges to a single device, which is especially useful during extended periods away from traditional power sources.
However, the environmental impact of these devices, particularly the production and disposal of lithium batteries, is a concern, necessitating proper recycling and disposal methods to minimize their ecological footprint.
Increasing Demand for Consumer Electronics Fuels Power Bank Market Growth
The region's dominance in the power bank market is driven by the hub for consumer electronics research and development (R&D) and manufacturing. Countries such as China have extensive manufacturing capabilities and relatively low labor costs, making them global leaders in electronics exports. This manufacturing prowess directly correlates with the demand for efficient power bank solutions, bolstering the market through ongoing advancements in consumer electronics.
Rapid Expansion of the E-Commerce Sector Boosts Demand for Power Banks
The rapid expansion of the e-commerce sector across the Asia Pacific region further fuels the demand for power banks. Online retail platforms have made a wide range of power bank products accessible, allowing consumers to compare and purchase products conveniently. This ease of access, combined with the ability to compare a variety of products, has significantly contributed to the growth of the power bank market in the region.
Environmental Challenges Restricting Power Bank Market Growth
The growth of the power bank market is being hindered by its environmental impact, primarily stemming from the production and disposal of lithium batteries. The manufacturing process of lithium-ion batteries involves toxic metals and significant energy consumption, leading to greenhouse gas emissions.
Innovations in Battery Technology to Create Future Market Prospects for Power Banks
Growing technological innovations in battery technology, particularly with the development and incorporation of graphene batteries is poised to create ample opportunities for the power bank market in the future. Graphene, known for its superior conductivity exceeding that of copper, is emerging as a revolutionary material in the field of energy storage and transmission. The application of graphene in power bank technology significantly enhances their potential, distinguishing them from traditional lithium-ion counterparts. Graphene-based power banks demonstrate a markedly extended lifespan, a pivotal attribute for consumer electronics.
This technological evolution is not only expected to elevate the performance standards of power banks but also introduces an element of sustainability and cost-effectiveness. The integration of graphene batteries is thus not merely an advancement in battery technology, but also represents a paradigm shift in the power bank market, setting new benchmarks for efficiency, sustainability, and user convenience.
China Holds the Dominant Market Share in the Asia-Pacific Market
China's consumer electronics research and development (R&D) leadership significantly impacts the power bank industry. The country's extensive manufacturing capabilities and relatively low labor costs make it a global leader in electronics exports.
In 2021, China accounted for 27.4% of the global electronics market, exporting USD 671.5 billion worth of devices, including smartphones and laptops. This dominant market share is crucial in shaping China's power bank industry. The demand for rapid and efficient charging solutions directly correlates with the nation's supremacy in electronic manufacturing. As a result, China's power banks market is continuously bolstered by the ongoing advancements and innovations in the consumer electronics sector.
India is Expected to Show Steady Growth in the Asia-Pacific Power Bank Market
India's power bank market is also driven by the latest advancements in technology and the development of innovative products. For instance, in December 2023, Urbn launched the Urbn Nano Series Power bank in India, touted as the world's smallest power bank. The device supports up to 22.5W charging and offers triple charging slots, including one USB-A and two Type-C ports. Such innovations cater to the evolving needs of consumers who seek compact, efficient, and high-capacity charging solutions.
Competitive Landscape
The Asia-Pacific Power Bank industry includes several market players such as Anker Innovations Co. Ltd., Xiaomi Corporation, Samsung Electronics Co., Ltd., Guangdong Oppo Mobile Telecommunications Corp., Ltd. (Realme, OnePlus), Lenovo Group Limited, Zagg Inc. (Mophie), Belkin International, Inc., Ambrane India Pvt Ltd., Baseus, Veger Power Inc.
Asia-Pacific Power Bank Market Key Segments
By Battery Capacity
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Up to 5,000 mAh
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5,001 to 10,000 mAh
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10,001 to 20,000 mAh
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Above 20,000 mAh
By Battery Type
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Lithium-Ion (Li-Ion)
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Lithium-Polymer (Li-Po)
By Portability
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Mini Power Banks
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Compact Power Banks
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Large High-Capacity Power Banks
By Charging Technology Type
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Magsafe or Wireless Charging Support
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Standard Charging Support
By Number of Ports
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1 to 2 Ports
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3 to 5 Ports
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More than 5 ports
By Design
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Standard Power Banks
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Rugged Power Banks
By Display Technology
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Power Banks with Display Technology
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Power Banks without Display Technology
By Compatibility
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Universal Power Banks
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Device-Specific Power Banks
By Power Output
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Less than 15W
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15-65W
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66 to 200W
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More than 200W
By Distribution Channel
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E-commerce or Online
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Offline
By Region
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Asia-Pacific
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China
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Japan
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India
-
Australia
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South Korea
-
Taiwan
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Singapore
-
Thailand
-
Indonesia
-
Rest of Asia-Pacific
-
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 848.83 Million |
|
Revenue Forecast in 2030 |
USD 997.19 Million |
|
Growth Rate |
CAGR of 1.9% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Countries Covered |
9 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Anker Innovations Co. Ltd.
-
Xiaomi Corporation
-
Samsung Electronics Co., Ltd.
-
Guangdong Oppo Mobile Telecommunications Corp., Ltd. (Realme, OnePlus)
-
Lenovo Group Limited
-
Zagg Inc. (Mophie)
-
Belkin International, Inc.
-
Ambrane India Pvt Ltd.
-
Baseus
-
Veger Power Inc.
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