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Global Power Banks Market to Expand at Impressive 25.90% CAGR till 2022, Driven by Growing Use of Mobile Devices

Albany, NY, May 06, 2016 (GLOBE NEWSWIRE) -- A featured report from Transparency Market Research on the global power banks market offers key insights into the market. This report is titled, “Power Banks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022”. According to this report, the global power banks market is projected to expand a strong CAGR of 25.90% during the forecast period from 2014 to 2022. In 2013, the global power banks market was worth more than US$7.3 bn and by 2022, the market is projected to be worth over US$36.1 bn.

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The global power banks market is driven by the rising demand for and use of mobile devices. In addition to this, the global power banks market is propelled by the rising number of innovative power banks with elevated functionality, the growing broadband and wireless services penetration, increasing number of new stylish power banks on the horizon, and rising introduction of safety standards. Two other key trends shaping the global power banks market are the growing focus on creating products that complement the modern lifestyle of consumers and the increasing number of smartphone companies partnering with OEMs to certify power banks according to their standards.

On the basis of product, the global power banks market is divided into solar, battery case, and portable. In 2013, the global power banks market was led by the portable power banks segment, both in terms of revenue and unit shipments. The elevated functionality and convenience offered by these power banks over others is driving their popularity.

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By power rating (capacity), the global power banks market is segmented into 3,001 mAh - 8,000 mAh, below 3,000 mAh, 8,001 mAh - 20,000 mAh, and above 20, 000 mAh. In 2013, the segment of 3,001 mAh - 8,000 mAh dominated the market in terms of revenue, while the below 3,000 mAh dominated the market in terms of unit shipments. Affordable power banks featuring battery capacity up to 3,000 mAh are projected to represent the largest share in terms of volume in the global power banks market during the forecast period.

According to the type of battery, the global power banks market is divided into lithium-polymer and lithium-ion. In 2013, the lithium-ion segment held a substantial share of nearly 86% in the global power banks market.Region-wise, the global power banks market is classified into Latin America, the Middle East and Africa, Asia Pacific, Europe, and North America. Revenue-wise, the North America segment held a dominant share of nearly 43% in the global power banks market in 2013. In developed regions such as North America and Western Europe, the global power banks market has witnessed a rise in demand for lithium-polymer power banks due to their slimness, safety, and light weight over lithium-ion power banks.

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Two trends generating good growth opportunities for companies in the market are customization of power banks and strategic partnership with e-commerce firms. Some of the key players operating in the global power banks market are Hitachi Maxell, mophie, Limefuel, Anker, Sony Corporation, Panasonic Corporation, and Samsung Electronics.

Market Segmentation of Global Power Banks Market:

Global Power Banks Market, by Product Type

  • Portable
  • Battery case
  • Solar

Global Power Banks Market, By Power Ratings (Capacity)

  • Below 3,000 mAh
  • 3,001 mAh – 8,000 mAh
  • 8,001 mAh – 20,000 mAh
  • Above 20,000 mAh

Global Power Banks Market, By Type of Battery

  • Lithium-ion
  • Lithium-polymer

Global Power Banks Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle-East and Africa
  • Latin America

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Source:Transparency Market Research