Market Overview:
According to Fortune Business Insights Global Power Bank Market size was valued at USD 14.74 billion in 2024. The market is projected to grow from USD 15.56 billion in 2025 to USD 23.64 billion by 2032, exhibiting a CAGR of 6.15% during the forecast period. Asia Pacific dominated the power bank market with a market share of 43.89% in 2024.
The global power bank market has witnessed significant growth in recent years, fueled by the widespread adoption of smartphones, tablets, wearables, and other portable electronic devices that require reliable on-the-go charging solutions. Power banks have become indispensable for today’s consumers, thanks to their compact form factors, broad device compatibility, and advanced features such as fast charging and wireless functionality. Rising demand from travelers, gamers, and remote workers continues to drive market expansion worldwide.
List of Power Bank Companies Profiled:
- Xiaomi (China)
- Koninklijke Philips N.V. (Netherlands)
- Lenovo (China)
- Intex Technologies (India)
- Sony Group Corporation (Japan)
- ADATA Technology Co., Ltd. (Taiwan)
- Sunvalley Group (RAVPower)
- BBK Electronics Corp. Ltd. (Realme) (China)
- ZAGG Inc. (mophie) (U.S.)
- AUKEY Official. (China)
Market Trends
The power bank market is rapidly evolving, influenced by changing consumer preferences and ongoing technological innovations. One of the key trends is the increasing popularity of wireless and fast-charging power banks, which offer greater convenience and efficiency. High-capacity models (20,000 mAh and above) are gaining momentum as they enable users to charge multiple devices simultaneously. There is also a growing interest in solar-powered and environmentally friendly power banks, reflecting a shift toward sustainable consumer choices. Additionally, companies are leveraging social media platforms to enhance brand visibility and engage directly with customers. The trend toward sleek, compact, and visually appealing designs caters to the preferences of urban users and consumers in emerging markets.
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Market Drivers:
The global power bank market is primarily driven by the rising adoption of smartphones, tablets, and other portable electronic devices that require frequent charging due to high battery consumption. The surge in internet penetration, increasing mobile gaming, social media usage, and digital transactions worldwide has amplified the demand for reliable and portable charging solutions. Additionally, the growth in outdoor activities such as camping, trekking, and adventure tourism, where access to electricity is limited, fuels the need for high-capacity power banks. Technological advancements, including the introduction of fast-charging, wireless charging, and solar-powered power banks, as well as the increasing affordability and availability of budget-friendly options, further contribute to the market's growth.
Regional Insights:
- Asia Pacific led the market in 2024 with a 89% share, driven by rising smartphone adoption, mobile gaming, and internet penetration.
- North America and Europe are set to witness robust growth due to the surge in outdoor activities, mobile gaming, and wearable tech adoption.
Top Growth Drivers:
📌 Rising smartphone and tablet adoption globally
📌 Growth in outdoor and adventure activities
📌 Advancements in wireless charging & high-capacity batteries
Why Read This Report?
This report provides valuable insights into the competitive landscape, key industry developments, market dynamics, trends, and growth opportunities shaping the future of the power bank market. It is a must-read for stakeholders, investors, and businesses looking to stay ahead in this evolving sector.
To know more about the market, please visit:
https://www.fortunebusinessinsights.com/power-bank-market-104425
KEY INDUSTRY DEVELOPMENTS
December 2024 - Stuffcool, an India-based manufacturer of consumer electronic products, announced the launch of Roam Power Bank. This product is 11cm tall and 7cm wide, and it has a 10,000 mAh battery capacity with a Type-C 20W PD port.
December 2024 - Xiaomi, a China-based consumer electronics manufacturer, announced the launch of an 18W power bank with a battery capacity of 30,000 mAh in the European market. The product can charge three devices simultaneously via USB-A and USB-C ports.
