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Global Power Battery Pack (Power Bank) Sales Projected
to Make US$ 13.7 Billion by 2024-end
Billions of smartphone users in the world being potential customers for power battery packs or power
banks is quite plausible. Nevertheless, compelling smartphone users to own power banks will remain
contingent upon their lifestyle. A recent study conducted by Persistence Market Research indicates
that smartphone & multimedia device proliferation serves as a strong distribution network for power
bank products. According to this study, the global power battery pack market, which is currently
valued at an estimated US$ 6.3 billion, will experience substantial increment in revenues by
registering 9% CAGR and reach US$ 13.7 billion value by the end of 2024.
Key findings in the report, titled “Power Battery Pack (Power Bank) Market: Global Industry
Analysis and Forecast, 2016-2024,” predict that consumers will remain more inclined towards
power banks with higher storage capacity. Concurrently, the report estimates that about 200 million
units of power banks with 5000-7500 mAh capacity were sold globally in 2016. In the years to come,
demand for power battery packs with even higher capacity will grow robustly, compelling power bank
manufacturers to extend their product portfolio for 7500-10000 mAh and above 10000 mAh capacity
power banks. By the end of 2024, power banks with more than 10000 mAh capacity are likely to get
sold at the fastest rate across the globe.
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Similar to their prevalence today, Lithium-ion (Li-ion) power banks will remain to be the dominant
type of power battery packs being preferred by consumers. Efficiency of Li-ion batteries in charging
and transmitting power will keep factoring the growth in global demand for Li-ion power battery
packs. Through 2024, every second power bank that will be sold globally will be equipped with a Liion battery. However, popularity of Li-ion power battery packs will contested with rising preference to
Lithium-polymer (Li-polymer) power banks. By 2024-end, nearly 500 million units of Li-polymer
power battery packs are anticipated to get consumed, globally.
More than two-third of global power bank revenues amassed between 2016 and 2024 will be
accounted by smartphones and mobile phones. Prominence of mobile phones over other multimedia
devices is less likely to cease in the future. Leading smartphone manufacturers have also entered
the global power battery pack market by offering a range of power bank products, with an intention
to specifically cater to their customers. Tablets will remain second-most prominent product for use of
power battery packs. In 2016, power battery packs used by tablet users exceeded 150 million units
in volume. Over the assessment period, the report projects a healthy growth in global power bank
revenues accounted by tablets.
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http://www.persistencemarketresearch.com/market-research/portable-battery-packmarket/toc
Additional research highlights compiled in the report include:
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Global demand for high-priced power battery packs will gain traction, compared to low-priced
and mid-priced power banks
Asia-Pacific (APAC) will remain the most lucrative region for production as well as
consumption of power battery packs
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The APAC power banks market will be valued over US$ 7.8 billion by the end of 2024
Majority of key players in global power banks market, which include BYD Company Limited,
Simplo Technology Co. Ltd., Sony Corporation, and Panasonic Corporation are based in
APAC countries such as China, Taiwan and Japan
US-based power bank manufacturers such as mophie, Inc., Cheero USA, Inc., Anker
Technology Co. Limited., Energizer Holdings, Inc. and Braven LC – INCIPIO Technologies,
Inc. are playing an instrumental role in consolidating North America’s presence in global
power battery packs market
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research/portable-battery-pack-market.asp
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