The Global Mobile Power Bank Market is expected to grow at a 4.50% CAGR and is estimated to be worth USD 28.5 Billion by the end of 2030.
The Mobile Power Bank Market is anticipated to grow quickly, avouching rising sales of mobile devices like Smartphone & tablets and Smartphone accessories. Also, dropping prices of Smartphone are expected to impact market growth. The boost in the popularity of Smartphone among consumers can be ascribed to the changing lifestyle of consumers. This is likely to remain a major driving factor for the global power bank market.
The amplifying infiltration of cell phones, alongside Internet administrations’ broad utilization, is exhausting the battery force of cell phones quickly. Hereafter, the interest in power banks to run cell phones for a more drawn-out term is developing on the outlook.
The growth in demand and strong competition in the market is performing in the reducing cost of possession of power banks in the worldwide market. Additionally, rising domestic production & assembly and the entry of new vendors have added to the decline in the prices of power banks. Growing economies evolved consumer purchasing power, and upgraded living standards are significant pillars of the rising electronics market. As electronic devices approach with a low battery capacity, demand for the power bank spurs up, while shooting up the market growth for the power bank widely.
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Regional Analysis
The Global Mobile Power Bank Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific region led the global market in 2019. Growing population, large-scale digitization, accessibility of affordable power banks, and penetration of commerce in the electronics industry run the adoption of power banks in the region. The Asia Pacific market is anticipated to witness an expressive gain in revenue share over the forecast period owing to the rising number of users of electronic devices and the ensuing rise in demand for power banks.
North America is another emphatic market for mobile power banks. The escalating demand for advanced mobile power banks and the accelerating adoption of advanced energy storage technologies result in significant opportunities in the market.
Europe is counted upon to enlist solid development in the Mobile Power bank Market because of the huge no. of compact gadgets associated with the web. Germany has the biggest no. of web clients, succeeded by the United Kingdom and France. The substantial utilization of GPS and fast web, Wi-Fi varieties burn-through batteries have several outcomes in expanding the Mobile Power Bank market.
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Market Segmentation
The Global Mobile Power Bank Market is segmented based on the following by;
Capacity Range
Energy Source
Battery Type
Application
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Key Players
The Global Mobile Power Bank Market key players are-
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