The global power bank market is witnessing steady growth, fueled by the increasing demand for portable and reliable power sources amid rapid smartphone adoption, expansion of portable devices, and rising digitalization. Power banks serve as critical accessories for consumers and professionals alike, enabling uninterrupted device usage on the go.
Market Size 2023 – USD 19.56 billion
Market Size 2032 – USD 28.51 billion
CAGR (2024–2032) – 3.92%
👉 For detailed market insights and forecasts, request a sample report here: https://straitsresearch.com/report/power-bank-market/request-sample
Market Drivers
The proliferation of smartphones, tablets, and wearable devices globally drives the need for efficient portable power solutions. Developments in mobile working trends, outdoor activities, and travel further boost the adoption of power banks. Technological advancements leading to high-capacity, fast-charging, and lightweight power banks enhance user convenience and market appeal.
Increasing Internet penetration and online content consumption require sustained device power, increasing power bank reliance. The rising adoption of electric vehicles and portable healthcare devices also open new avenues for power bank applications.
E-commerce growth facilitates easy access and wider availability of varied power bank models, accelerating market expansion.
Market Challenges
The power bank market faces challenges such as regulatory restrictions on lithium-ion batteries concerning safety during transport and use. Quality concerns, product counterfeit issues, and lack of standardization impact consumer confidence. Price competition and commoditization limit profit margins for manufacturers.
Battery lifespan and performance degradation over multiple charge cycles also pose customer retention issues. Environmental concerns related to battery disposal and recycling are shaping market practices and regulations.
Market Segmentation
By Capacity:
- Up to 5,000mAh
- 5,000–10,000mAh (largest segment)
- Above 10,000mAh
By Charging Port:
- USB Type-A
- USB Type-C (fast growing with fast charging)
- Micro USB
- Wireless charging power banks
By Application:
- Smartphones & Tablets (dominant end-user)
- Wearables
- Laptops and Portable Electronics
- Outdoor and Sports Use
By Distribution Channel:
- Online Retail (fastest growing)
- Offline Retail (supermarkets, convenience stores, electronics stores)
By Region:
- Asia-Pacific: Largest market driven by high population and mobile device penetration.
- North America: Technologically advanced with high consumer purchasing power.
- Europe: Growing steadily with focus on quality and safety standards.
- Latin America & Middle East & Africa: Emerging markets with increasing smartphone adoption.
👉 Purchase Detailed Report Now https://straitsresearch.com/buy-now/power-bank-market
Top Players Analysis
Leading players dominating the power bank market include:
- Anker Innovations
- Xiaomi Corporation
- RAVPower
- Mophie (ZAGG Inc.)
- Samsung Electronics Co., Ltd.
- ROMOSS Technology
- Belkin International, Inc.
- Aukey
- Energizer Holdings, Inc.
- Sony Corporation
These companies invest heavily in R&D for battery technology, safety features, and charging speed optimization. Strategic partnerships with smartphone manufacturers and e-commerce platforms help expand their market reach. Emphasis on portability, design, and multi-device compatibility enhances user experience.
Conclusion
The power bank market is expected to maintain steady growth, driven by ever-increasing demand for mobility, device connectivity, and convenience. Technological innovations and consumer preferences for fast, safe, and efficient charging solutions represent key market growth levers. Manufacturers must navigate regulatory challenges and strive for sustainable, eco-friendly product development.
About Us
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
FAQ'S
Q) What is the size of the global power bank market in 2023 and its forecast for 2032?
The global power bank market size was valued at USD 19.56 Billion in 2023. It is expected to reach USD 28.51 Billion by 2032, growing at a CAGR of 3.92% during the forecast period (2024-2032).
Q) What factors are driving the power bank market growth?
Growing smartphone and portable device usage, technological advancements in fast and wireless charging, and rising demand from outdoor and travel sectors.
Q) Which power bank capacity segment shows the highest demand?
The 5,000–15,000 mAh range remains the most popular due to its balance of portability and charging capacity.
Q) What are the common charging port types in power banks?
USB Type-A and USB Type-C are predominant, with wireless charging gaining traction.
Q) Which distribution channel leads the market?
Online retail dominates because of wide selection and convenience for consumers.
