“The power bank market is expected to have a huge growth potential. The number of players offering power banks has increased, thereby intensifying the competition in the market. Proliferation of e-commerce has also supported the players by providing direct access to the consumer, which has enabled a few players to offer power banks directly to consumers through their respective websites. Some of the companies who have recently introduced power banks in the market include Microsoft Co. (U.S.), Xiaomi (China), and Oneplus (China). The majority of power banks available in the market are based on batteries provided by companies such as China BAK Battery, Inc. (China), LG Chem Ltd. (South Korea), and Samsung SDI Co. Ltd. (South Korea) among others.
The power bank market has been segmented based on the capacity range, number of USB port, energy source, technology, application, and region. Currently, most of the consumers possess more than one electronic device. Therefore, they require a portable source of power which can recharge multiple devices simultaneously. The power bank market has been segmented based on the number of USB ports and has further been split into one, two, three or four USB port based power banks. The price of power banks increases with the increase in the number of USB ports offered. Currently, power banks with two USB ports hold a higher market share and this trend is expected to continue during the forecast period. However, the market for power banks with more than two USB ports is expected to grow at a high CAGR of ~30% between 2015 and 2020.
The studied market has been segmented based on energy source into power grids and solar & hydrogen. Currently, power grids are the main source of power for most of the power banks available in the market; however, market players have also developed a power bank which can be powered by alternative sources of energy such as solar and hydrogen. Sandberg A/S (Denmark) and Ravin Group (India) among others are some of the players who are developing solar power based power banks. Intelligent Energy Ltd. (U.K.) has introduced hydrogen fuel cell powered power banks which are being marketed as ’Upp’. Upp uses a reusable fuel cartridge which can recharge five smartphones and each cartridge has a life of nine years.
This report on the power bank market provides a detailed analysis of market dynamics which include drivers, restraints, opportunities, and challenges. The Porters five forces analysis has been included in the report with a description of its forces and their respective impact on the power bank market. Value chain analysis has also been included in the report. It has been estimated that the majority of companies which develop power banks along with batteries are located in the Asia-Pacific region. Asia-Pacific accounts for a major market share of ~45% of the power bank market and is expected to maintain this trend during the forecast period. Some of the companies present in the power bank market include Advantage Computers (I) Pvt. Ltd. (India), Anker. (U.S.), China BAK Battery, Inc. (China), LG Chem Ltd. (South Korea), Microsoft corporation (U.S.), Mophie Inc. (U.S.), OnePlus (China), Panasonic Corporation (Japan), Samsung SDI Co. Ltd. (South Korea), Sony Corporation (Japan), uNu Electronics INC. (U.S.), and Xiaomi Technology Co., Ltd (China).
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