Power bank market expected to double in value by 2032 due to smartphone and remote work growth.

From GlobeNewswire: 2025-02-19 09:30:00

The Power Bank Market was valued at $15.22 billion in 2023 and is expected to reach $30.90 billion by 2032, growing at a CAGR of 8.21% during 2024-2032. The rise of smartphones and remote working has driven demand for portable charging solutions, with key players like Anker, Xiaomi, and RAVPower leading the market. Electric power banks currently lead the market, but solar power banks are expected to grow rapidly, catering to outdoor enthusiasts. Lithium-ion power banks dominate the market, but lithium-polymer power banks are the fastest-growing segment due to their lightweight and flexible design. E-commerce is the dominant distribution channel for power banks, with brick and mortar stores experiencing the fastest growth. Consumers are showing a preference for browsing and price comparison on Amazon and official brand websites for power bank shopping. Brick & Mortar stores are also seeing growth, with consumers returning for immediate purchases and a hands-on experience with products. The Power Bank Market is segmented by capacity range, energy source, battery type, and distribution channel.

In 2023, the Asia-Pacific region led the power bank market with a 51% share, driven by high smartphone adoption rates and the presence of major brands like Xiaomi and Anker. North America is expected to see rapid growth from 2024 to 2032, with a CAGR of 8.77%, due to increasing demand for mobile devices.

The Power Bank Market report includes sections on market dynamics, statistical insights, competitive landscape, regional analysis, company profiles, and more. SNS Insider is a leading market research agency providing clients with up-to-date market data and insights to make informed decisions. Visit the link for complete research insights on the Power Bank Market.



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