The
power
bank market is expected to be
valued at USD 25.16 billion by 2022, at a CAGR of 21.2% between 2017 and 2022.
The growth of this market is propelled by the increasing usage of electronic
devices such as smartphones and tablets, increased power consumption of electronic
devices due to technological advancements, and electric outage in certain
countries.
The
capacity range of 9500–12499mAh accounted for the largest share of the power
bank market in 2016. The rising adoption of power banks that are capable of
charging a device several times is expected to drive the growth of the market
for power banks with a capacity range of 9500–12499mAh.
The
power bank market for more than two USB ports is expected to grow at a high
rate between 2017 and 2022. Consumers demand for power banks with three or four
USB ports as they are capable of charging three to four devices,
simultaneously. Moreover, these devices are now available with higher
capacities; this has increased the demand for power banks with three or four
USB ports.
Power
banks that derive power from electric power grids accounted for a major market
share in 2016. The benefits offered by these devices such as easy
accessibility, low prices, lightweight, compact size, and suitability for
charging any portable electronic devices are contributing to the increasing the
demand for electric-based power banks.
Lithium
ion batteries held the largest size of the power bank market in 2016. Li-ion
batteries offer various advantages such as high energy density, relatively low
self-discharging, and low maintenance. The power bank market for lithium
polymer batteries is expected to grow at a high rate between 2017 and 2022.
Lithium polymer batteries are moldable, lightweight, and come in a flat shape;
these factors enable electronic device manufacturers to develop thin and
compact electronic devices. These batteries are preferred as they are light in
weight and have a flexible form factor, and are safer than other batteries.
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