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Portable Power Bank Statistics 2024: By Market Share, Region, and Technology

Portable Power Bank Statistics 2024: By Market Share, Region, and Technology
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In the past few years, portable power banks have become more and more famous, which has had a big effect on the market. The portable power bank market is projected to grow a lot, reaching about $13.87 billion by the end of 2023 and about $19.21 billion by the end of 2030, according to reports. This growth is due to more people around the world getting cell phones and tablets.

One of the main things that makes portable power banks popular is that they can charge quickly and have sizes between 10,000mAh and 20,000mAh. This makes sure that people can quickly and easily charge their gadgets, even when they’re out and about.

Experts in the field think that the number of companies that make wireless charging power banks will grow by a huge amount in the coming years. This trend shows how portable power options are becoming more important and how this industry is always coming up with new ideas.

These numbers show how quickly the power bank business is growing around the world. It is expected that the demand for portable power banks will continue to rise as more people get mobile phones and need easy ways to charge them.

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As of 2023, Future Market Insights says the global market for portable power banks will be worth about $16.89 billion. The industry is projected to reach a huge $55.34 billion by the end of 2033, with a Compound Annual Growth Rate (CAGR) of 12.6% from 2023 to 2033. This growth trend is set to continue.

According to Global News Wire, the market share for power banks will be $12.54 billion in 2023, which is a big jump from previous years. Overall, the market for this industry is expected to grow at a rate of 6.3% per year from 2023 to 2031.

In 2023, the Asia-Pacific area will have a huge 65% share of the global market, making it the market leader. Statista reported in 2023 that MAXAOK power banks have the largest battery capacity in the world, at 50,000mAh.

The United States is expected to have the biggest market, worth about $8.57 billion, thanks to a CAGR of 11.3% from 2023 to 2033. Reports from 2023 say that lithium-ion batteries will be the most common type of technology in portable power banks.

It is also expected that the global market for lithium-ion batteries will be bigger than $54.4 billion by 2023. This shows how important these batteries are for powering portable devices and helping the power bank business grow.

What is a Portable Power Bank?

Power banks, which are also called portable batteries or chargers, are important devices that come in a case and help electronic devices like smartphones, smartwatches, tablets, and computers last longer by giving them more charging options when they need them. They come in different shapes and sizes, from small enough to fit in your pocket to big enough to hold a lot of things.

The portable power bank market is expected to grow a lot, according to Vantage Market Research. It will reach an estimated $26.35 billion in 2030. From 2023 to 2030, this growth is expected to have a Compound Annual Growth Rate (CAGR) of 10.20%. This shows that people around the world want portable charging options more and more.

Power banks are useful because they let people charge their gadgets while they’re on the go without having to worry about running out of power. They are made to be easy to use and come in stylish looks to fit a wide range of tastes and lives.

As long as people use electronics for work, communication, pleasure, and other things, the need for portable power banks that work well and are reliable is likely to keep growing. This trend shows how important power banks are for improving the user experience and making sure that devices can be used without interruption. In today’s digital world, they are an essential item.

Advantages of Portable Power Bank

  • Portable power banks are very important for keeping electronics’ batteries charged for longer, especially since so many people today depend on smart devices for many things.
  • These power banks are very useful because they can be used with smartphones, smartwatches, laptops, PCs, and many other electronic devices. They are essential for modern life.
  • Their usefulness is especially clear when doing things outside or on long flights, where keeping connected is important. These are great for taking in pockets, handbags, or backpacks without adding a lot of bulk because they are small, light, and easy to move around.
  • One of the best things about power banks is that they can quickly charge multiple devices at the same time. They also work with many different devices, last a long time, and don’t cost a lot of money, making them affordable options for charging while you’re on the go.
  • As you can see, portable power banks let users stay charged up whenever and wherever they want. This means that users can keep connecting and using their devices without interruptions, making them must-haves for today’s tech-savvy people.

Facts on Portable Power Bank

  • Market study shows that a significant 65% of college students choose to buy portable power banks, which shows how popular they are among young people.
  • As of late, a lot of power bank makers are focusing on giving their products Type-C USB connectivity to meet the wants of tech-savvy users who are always on the go.
  • The portable power bank business is growing because more people want them in industries like smartphones, automotive technology, and companies that make electronics. This shows how widely portable charging solutions are used.
  • Portable power banks come with different battery capacities, from 1,000mAh to over 10,000mAh, so users can choose the one that best fits their charging needs.
  • According to Vantage Market Research, lithium-ion cells are the best type of portable power bank because they can be charged more than 500 times, making them lasting and reliable.
  • The RAVPower Portable Charger External Battery Pack is a great example. It has Qualcomm Quick Charge 3.0 technology and a capacity of about 20,800mAh, so it can charge multiple devices quickly and efficiently.

General Statistics

The graph shows a study that says the global market share for portable power banks will reach $12.54 billion in 2023. With a Compound Annual Growth Rate (CAGR) of 8.40% from 2023 to 2028, this number is expected to grow a lot and reach $18.77 billion by the end of 2028.

Within each region, growth rates vary. The Asia-Pacific area is growing the fastest, while North America is growing the most rapidly in 2023.

Lenovo, Panasonic, Philips, MI, and RealMe are some of the biggest names in the portable power bank business. Their goods are known for being reliable and innovative.

The 10,001mAh to 20,000mAh range is the most popular product type in the industry, making up more than 80% of the market share. This shows that customers want power banks with more storage space.

In 2023, MI, Romoss, Anker, Sunvalley, and Samsung are the top five makers in the world. Together, they control more than 10% of the market, showing how strong they are in the business.

Portable Power Bank Statistics by Country

In 2023, North America takes over as the biggest market for portable power banks in the world. China, on the other hand, is expected to have the biggest part of the market, with more than $14.03 billion expected to be made with a Compound Annual Growth Rate (CAGR) of 14.1% from 2023 to 2033.

The United States is expected to have the second-largest market value, reaching about $8.57 billion with a CAGR of 11.3% over the same time period. This shows how important it is to the business.

The market for portable power banks is projected to reach $1.44 billion by 2033, with sales likely to keep going up in Europe, especially in the UK. With a compound annual growth rate (CAGR) of 10.9% over the next few years, this growth shows that the market in the area is doing very well.

Portable Power Bank Statistics by Region

In 2023, the Asia-Pacific area is expected to have a huge 65% share of the portable power bank market, making it the biggest market in the world. North America and Europe come in close behind, with each having 15% of the market, showing how important they are to the business.

Middle Eastern and African countries, on the other hand, only have a small share (about 7%), and Latin America has a small share (about 4%). Even though these areas have smaller shares, the global market for portable power banks is still spread out in a variety of ways.

Portable Power Bank Statistics by Technology

Researchers at Grand View Research say that by 2023, the world market for lithium-ion batteries will have grown to about $54.4 billion. The growth rate that will happen each year from 2024 to 2030 is expected to be an amazing 20.3%. This means that there is a huge rise in the need for lithium-ion batteries in many different fields. This is because more people are buying electric cars, renewable energy storage solutions are getting better, and the consumer electronics market is growing.

The graph shows how the world market for lithium-ion battery makers was split from January to August 2023. With a 36.9% share, CATL was the clear leader. Aside from these big names, BYD has 15.9% of the market, LG Energy Solution has 14.2%, Panasonic has 7.1%, SK On has 5.1%, CALB has 4.7%, Samsung SDI has 4.1%, Gotion High-tech and Eve Energy each have 2.1%, and Sunwoda has 1.4%.

Industry ARC studies also say that the lithium-ion battery market will grow at a rate of 7.1% per year from 2022 to 2027, reaching $6.5 billion by the end of 2027. This growth is caused by rising demand in many areas, including technology, energy storage systems, and cars.

Research Nester, on the other hand, says that Nickel Cadmium Batteries will have a market worth $2 billion by the end of 2035, growing at a rate of 3% per year from 2023 to 2035. This shows that people will always need different kinds of batteries and that the battery market is always changing.

Types of Portable Power Banks

Best for climbing: The Goal Zero Flip 24 Power Bank is a great choice for road trips that involve climbing. It is small and light, and it’s made to provide reliable power to keep your gadgets charged while you’re out in nature.

What’s the Best Power Bank for camping? The BioLite Charge 80 PD Power Bank is the best choice for people who love camping. It’s great for keeping your devices charged on long hikes in remote areas because it has a large volume and can charge quickly.

You can camp in your car with the Goal Zero Yeti 200X portable power station.
The Goal Zero Yeti 200X Portable Power Station is great for car camping because it has enough power to run your important electronics and tools while you’re out having fun. It’s easy to use, effective, and small.

It’s best for large groups to camp in cars with the Goal Zero Yeti 500X portable power station.
You should get the Goal Zero Yeti 500X Portable Power Station if you want to go car camping with a lot of people. With its large volume and multiple output ports, it can charge more than one device at the same time.

BioLite BaseCharge 1500 (Best for Long Trips): The BioLite BaseCharge 1500 is designed for long trips where stable power is very important. Its large volume and sturdy construction make it perfect for long trips outside, keeping your devices charged when you need them the most.

The EcoFlow DELTA max Portable Power Station is the best for situations. It makes life much easier when power goes out. As a backup power source, it reliably powers important things like lights, phones, and medical equipment, giving you peace of mind in case of accidents or sudden power outages.

Conclusion

Today’s world is very tech-focused, and the broad use of smartphones around the world is massively expanding the market for portable power banks. These amazing gadgets are very important for keeping our smartphones charged, which lets us use them for longer periods of time when we’re on the go.

A big benefit of portable power banks is that they can charge a phone up to three times faster than regular chargers. Users won’t have to worry about running out of battery power during the day because of this improved capacity.

Technology improvements have also led to the creation of power banks that can charge very quickly. Fast charging of smartphones and other electronics with these devices saves time and allows for continued use.

Additionally, current power banks have multiple USB ports that let users charge multiple devices at the same time. Anyone who needs to charge their phone, tablet, or other electronic device on the go will appreciate this flexibility.

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