Get Power Banks for the Mobile Devices and Enjoy Using for a Long Time

Power bank is a portable or compact source of charging (with in-built battery) that charges digital gadgets such as smartphones, laptops, tablets, phablets, and Mp3 player. Social mobile applications enabled by internet, and other services such as video streaming consumes high power and in turn swiftly drains the battery of gadgets. Growing use of smartphone for various application has fostered the adoption of power banks, and with increasing number of smartphone, the traction in the adoption of power banks is anticipated to continue over the forecast period.

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The global power banks market is classified on the basis of product type as phone charging case (battery case), portable power banks (excluding solar power banks) and solar power banks. In 2013, portable power banks segment dominated the global power banks market in the terms of revenue and unit shipments. With increasing functionality and convenience offered by these power banks over other types, this segment is expected to retain its dominance throughout the forecast period. On the basis of power rating, the market is segmented as: power banks up to 3,000mAh, 3,001 – 8,000mAh, 8,001 – 20,000mAh and above 20,000mAh. In 2013, power banks segment with power rating of 3,001 – 8,000mAh dominated the global power banks market in terms of revenue. The growth was mainly driven by the adoption of these power banks in the matured economies such as Western Europe and North America. Large number of consumer base in these regions with two or more gadgets mostly prefer to have a cost effective power banks which can charge two smart gadgets simultaneously. Power banks market is also segmented based on the type of battery (it consists) as Li-ion and Li-polymer power banks. In 2013, Li-ion power banks accounted for major share accounting almost 86% of the global power banks market in terms of unit shipments.

Increasing smartphone and tablet penetration is driving the adoption of power banks globally. High speed mobile internet networks consumes more power and drains battery. This in turn has propelled the need of power for smartphones and tablets. Emerging regions such as China and India are expected to have significant revenue opportunity during the forecast period. The growths is primarily attributed to increasing penetration of smartphone and high speed mobile internet in these regions. In addition, increasing competition among regional and global players is expected to observe decrease in the average selling prices for power banks over the forecast period. This is expected to witness increase in the adoption of power banks in the price sensitive region; however adversely impacting the profitability of major players. Innovation is differentiating factor among various products (power banks) in the market. Introduction of safety standards in the power banks is boosting the adoption of innovative and quality power banks. Vendors are providing customized power banks with enhanced aesthetics to obtain competitive edge. Competitive pressure to offer quality products at low price is one of the significant challenges for vendors in this market. Moreover, advancements in the smartphones such as solar panel fixed over smartphone screens which charges smartphones when exposed to direct sunlight is expected to impact the procurement of power banks market in the long run.

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 The power banks market is highly fragmented with many regional and global players in the market. In order to sustain in the competitive environment, vendors are offering low cost uncertified power banks in price sensitive regions such as Middle-East and Africa (MEA) and Asia Pacific. Low or no awareness about the safety standards associated with the power banks is propelling the demand for uncertified power banks in these regions. Currently, North America dominates the global power banks market in terms of revenue; however, increasing smartphones penetration in Asia Pacific is expected to bolster the growth of power banks market in Asia Pacific during the forecast period.

Increased Use of Consumer Electronics makes Power Banks Market to Expand at CAGR of 25.9% till 2022

 Power Banks Market

 Power banks are external batteries that are portable and compact and can be used for charging laptops, tablets, MP3 players, or smartphones. Power banks are useful devices that can be used while traveling, when the batteries on mobile devices are exhausted. Power banks allow the storage of electrical energy for later use and can also be used to charge cameras, GPS systems, portable speakers, or other USB-charged devices.The global power bank market is expected to develop in terms of volume at a strong CAGR of 25.9% during 2014 to 2022. The growing use of the internet, particularly services such as video streaming, and mobile applications drains batteries faster. Hence, the use of power banks has increased globally.Technologically advanced consumer electronics devices are available at relatively low rates in regions where pricing is a deciding factor for sales. Hence, the increased sales of electronic devices is a major market driver for power banks.

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Customized Power Banks with Advanced Features Boosting Market Expansion

Power bank manufacturers are creating products that complement the consumer’s lifestyle needs with such features as LCD displays and remote app control. Various types of power banks such as solar charged power banks, universal power banks, and customized power banks can match any configuration to suit the user’s particular needs. Smartphone companies are also increasingly partnering with OEMs and certifying power banks that meet their standards. All these factors are pushing the market for power banks across the world.

Segments of the global power banks market based on product type are portable power banks (excluding solar power banks), solar power banks, and phone charging cases (battery case). The portable power bank segment had the largest share in 2013 in terms of revenue, and is expected to continue the dominance from 2014 to 2022.

Li-ion, Portable Power Banks to Dominate Global Power Banks Market

On the basis of type of battery, the global power banks market is segmented into Li-polymer power banks and Li-ion power banks. In 2013, Li-ion power banks had the major market share, accounting for 86% of total unit shipments in the global power banks market.

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The segmentation of the global power banks market based on power rating is 3,001 mAh-8,000 mAh, 8,001 mAh-20,000 mAh, up to 3,000 mAh, and above 20,000 mAh. The 3,001 mAh-8,000 mAh rating power banks had the highest revenue in 2013 in the power banks market and are anticipated to continue to dominate demand from the market over the next few years. A large consumer base owning more than one gadget in the mature economies in Western Europe and North America is helping the market for portable power banks.

Considerable escalation in the use of mobile devices and expansion of wireless services (3G and 4G) is also among the factors responsible for the growth of the global power banks market. Intensified online retailing and reduced prices for power banks are fueling the power banks market worldwide. Emerging economies such as China, India, and Brazil are being viewed as markets with a high potential by resellers, OEMs, and distributors. The key market players in the power banks market are MiPow Limited, Mophie, Inc., Hitachi Maxell, Ltd., Limefuel LLC, Xtorm BV, EassyAcc.com, Inc., Sony Corporation, Panasonic Corporation, Apacer Technologies, Inc., GP Batteries International Ltd Samsung Electronics Co. Ltd., and Anker, among others.

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Industrial/B2B Segment to Dominate North America Power Banks Market

 Power Banks Market

The North America power banks market is expected to show notable growth in the coming few years. The growing number of blackouts and power outages in this region is driving the market for high capacity power backup solutions. According to the data for the period from 1984 to 2006 acquired from the North American Electric Reliability Council (NERC), the frequency of major blackouts in the U.S. has not reduced over time. Statistics show that there is a significant growth in blackout frequency at peak hours of the day, particularly during late summer and mid-winter months.

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This growing number of power outages in the North America region has in turn shaped the investment and policy decisions in the electricity industry. However, although the growing number of power outages is one of the primary factors driving the North America power banks market, there are several other factors that are expected to impact the growth of this market.

According to Transparency Market Research, the North America power banks market will expand at a CAGR of 18.6% during the forecast period from 2015 to 2022. Application-wise, the North America power banks market is classified into consumer electronics and industrial/B2B. The industrial/B2B segment dominated the North America power banks market in 2014 and held a share of 64.3%. This segment is projected to continue its dominance in the coming few years. During the forecast period, industrial applications, including resource extraction, healthcare, and foreign aid will record higher growth rates.

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Industrial/B2B was the largest end-use segment, accounting for 64.3% of the overall revenue of the power banks market in North America in 2014. The segment is expected to remain the dominant application segment in terms of revenue throughout the forecast period, witnessing strong growth especially in the first half of the forecast period. Over the forecast period from 2015 to 2022, industrial applications including healthcare, resource extraction, and foreign aid is expected to record higher growth rates, each expected to expand at a CAGR of approximately 19.3% over the forecast period. Power banks with capacities ranging from 20,000 mAh to 80,000 mAh accounted for the majority of the market revenue in 2014, and are expected to exhibit comparatively robust growth over the forecast period owing to collective demand from industrial and consumer spaces. In terms of product type, the power banks market in North America was dominated by the portable power banks segment in 2014. However, over the forecast period, their solar equivalents are expected to witness the highest growth, acquiring 42.1% of market revenue by 2022. The high-capacity power banks segment in North America is nascent. Major industry participants include Gridless Power Corporation, Goal Zero Corporation, Anker, Limefuel, LLC, Sony Corporation, and IEC Technology, LLC.