Portable Battery Pack (Power Banks) Market Analysis | Coherent Market Insights

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PORTABLE BATTERY PACK (POWER BANKS) MARKET
ANALYSIS

• Portable Battery Pack (Power Banks) Market, By
  Battery Type (Li-ion (Lithium ion) Battery,
  Li-polymer (Lithium-Polymer) Battery,Nickel Metal
  Hydride Battery and Ni-Cd (Nickel Cadmium)
  Battery), By Capacity Segment (1,000 mAh to 2,500
  mAh, 2,500 to 5,000 mAh, 5,000 to 7,500 mAh,
  7,500 to 10,000 mAh and Above 10,000 mAh), By
  Product Type (Mobile Phones, Tablets and Others
  (portable media players and other electronic
  devices), By Price Range (Low, Mid and High) and
  by Region (North America, Latin America, Europe,
  Asia Pacific, Middle East and Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020 -
  2027

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• The global Portable Battery Pack (Power Banks)
  market was valued at US 877 Mn in 2019 and is
  forecast to reach a value of US 1638.9
  Mn by 2027 at a CAGR of 8.0 between 2020 and
  2027.

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Market Drivers

• Increasing disposable income and rising global
  population is expected to drive growth of the
  global portable battery pack (power banks) market
  during the forecast period
• The disposable income of consumers in developed,
  as well as emerging economies, has been on a
  rise. As a result of this, consumers are shifting
  towards advanced mobile accessories such as
  headphones and power banks. According to Coherent
  Market Insights analysis, in 2015, global
  disposable income increased by 3.1 as compared
  to 2014. Furthermore, global population is
  increasing rapidly, especially in emerging
  regions such as MEA and Asia Pacific. According
  to the United Nations (UN), global population is
  expected to increase from 7.2 Bn in 2013 to 9.6
  billion by 2050. Thus, these factors are expected
  to drive growth of the global portable battery
  pack (power banks) market during the forecast
  period.

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• Presence of robust distribution network is
  expected to propel the global portable battery
  pack (power banks) market growth over the
  forecast period
• Key market players in the market are focused on
  establishing robust distribution channels such as
  multi-brand distributors and retailers of mobile
  accessories, in order to better cater to
  customers. Such distribution channels help market
  players to gain a competitive advantage in the
  market. Furthermore, online retailing is becoming
  the most popular distribution channel in emerging
  markets such as China, Indonesia, Brazil, and
  Russia. According to Coherent Market Insights
  analysis, in Asia, e-commerce sales have
  demonstrated a growth of 36 reaching US 615 Bn
  in 2014 as compared to that in 2013. Therefore,
  these factors are expected to drive growth of the
  market during the forecast period.

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Portable Battery Pack (Power Banks) Market -
Impact of Coronavirus (Covid-19) Pandemic

• COVID-19 Pandemic have adversely affected the
  economies of various countries around the globe.
  According to the International Monetary fund
  Analysis, the global economy is expected to
  shrink down by 3 percent in the year 2020
  compared to year 2019. Due to the reduction in
  the size of global economy the spending or
  purchasing power of people also decreases. Owing
  to the reduced purchasing power, the COVID-19
  pandemic is expected to hamper the growth the
  market in the year 2020.

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• Asia Pacific held dominant position in the global
  Portable Battery Pack (Power Banks) market
  in 2019, accounting for 64.7 share in terms of
  value, followed by North America and Europe
  respectively
• Figure 1 Global Portable Battery Pack (Power
  Banks) Market Share () in terms of Value, By
  Region, 2019

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Market Restraints

• Advent of smartphones with larger battery
  capacity is expected to hamper the global
  portable battery pack (power banks) market growth
  over the forecast period
• Many smartphone manufacturers in the market such
  as Samsung, Apple, and Xiaomi are focused on
  designing smartphones with large battery
  capacity, in order to cater to rising demand for
  smartphones with longer stand-by time.
  Furthermore, electronic component manufacturers
  are introducing chipsets that are
  energy-efficient. This, in turn, is expected to
  hinder the demand for power banks and thereby
  hamper the market growth over the forecast
  period.
• Constant threat of piracy is expected to restrain
  growth of the global portable battery pack
  (power banks) market during the forecast period
• Piracy remains a major threat to electronic
  products, including power banks. The material
  used in production of counterfeit power banks is
  of low quality with less durability. Although the
  overall quality of these products is very low,
  they are offered at competitive prices, thus
  gaining traction among consumers. Consumers in
  China and India are highly inclined towards such
  products. Therefore, these factors are expected
  to restrain growth of the global portable battery
  pack (power banks) market during the forecast
  period.

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Market Opportunities

• Growing focus on introducing power banks with
  higher capacity can present lucrative business
  opportunities
• Few power bank manufacturers focus on
  introducing higher capacity (above 7,500 mAh)
  power banks in order to cater to growing demand
  for such products, across the globe. For
  instance, in December 2016, Xiaomi Inc. launched
  Mi Mobile Power Bank 2, which is a 20,000mAh
  portable charger, in order to expand its
  higher-capacity power bank product portfolio.
• Increasing emphasis of manufacturers on
  manufacturing power bank products across the
  globe to pose major growth opportunities
• Few smartphone manufacturers such as Xiaomi Inc.
  and OnePlus are focusing on entering into the
  power bank market in order to cater to growing
  demand for such accessories across the globe.

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• Figure 2 Global Portable Battery Pack (Power
  Banks) Market Value (US Mn), 2017 - 2027

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Market Trends

• Advent of novel features such as fast charging
  and Type-C USB connectivity
• Various power bank manufacturers are focusing on
  introducing support for USB Type-C connectivity,
  along with existing micro USB connectivity, and
  fast charging features in their devices. For
  instance, in January 2017, Foto Electric Supply
  Co., Inc. introduced SpeedBank power bank series
  in order to enhance its power bank portfolio.
  With the aid of these products, a smartphone can
  be charged up to 80 of the total battery
  capacity in 30 minutes.
• Growing focus on form factor is another major
  trend
• Certain power bank manufacturers lay emphasis on
  developing and introducing power banks with a
  sleek form factor, which are light in weight and
  smaller in size. Li-Polymer (Lithium-Polymer)
  battery offers such properties that make it
  lucrative for power bank manufacturers to
  downsize their products. For instance, in July
  2016, Portronics Digital Pvt. Ltd. launched
  PowerNote, which is a slim and lightweight
  lithium-polymer-based 16000mAh power bank, in
  order to enhance its product portfolio.

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Competitive Section

• Key players operating in the global portable
  battery pack (power banks) market are BYD Company
  Limited, mophie, Inc., Energizer Holdings, Inc.,
  Cheero USA, Inc., Simplo Technology Co. Ltd.,
  Braven LC, Simplo Technology Co. Ltd., Anker
  Technology Co. Limited, Sony Corporation, Xiaomi,
  and Panasonic Corporation.

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Key Developments

• Major companies in the market are focused on
  product launches, in order to gain a competitive
  edge in the market. For instance, in February
  2019, Anker Technology Co. Limited introduced new
  power banks PowerPort Atom PD2 and PowerCore
  10,000 mAh AD.
• Key players are involved in product development,
  in order to expand the product portfolio. For
  instance, in June 2020, Xiaomi introduced MI
  power bank 2I with 10,000mAh.

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