According to a new report, titled, “Power Bank Market Insights, Trends, Opportunity & Forecast, 2022–2027,” Power Bank market size is anticipated to at a witness single digit growth during forecast period i.e. 2022-2027.

The Power Bank Market is forecasted to thrive at 21.5% CAGR to reach notable market value by the end of 2025. The power bank is an electronic portable battery charging device by which the user can charge their electronic devices such as, laptops, mobile phones, tablets, digital cameras and others anywhere at any time. It is a portable device and offers a more convenient option as compared to another wired plug-in charger. The power bank uses an electric power grid or solar energy to charge these devices.

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The global Power Bank market is predicted to develop due to the use of Power Bank in paints, plating chemicals, and catalysts. Furthermore, alloys, catalysts, pigments, magnets, and soaps all need cobalt carbonate. It’s utilized as a dietary supplement because it’s a necessary component for good health. Power Bank is also frequently utilized as a cathode material in batteries, cars, and electronic gadgets. Due to the alloy’s excellent heat resistant qualities, it’s also employed in the repair of alloys used in jet engines.

COVID-19’s Effects

Over the last 18 months, almost every industry on the planet has suffered a setback. This is due to major disruptions in their manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other restrictions imposed by governments around the world. The global Power Bank market is no exception. Furthermore, consumer demand has decreased as people have been more focused on removing non-essential expenses from their budgets as the general economic situation of most people has been badly impacted by the outbreak. The revenue trajectory of the worldwide Power Bank market is likely to be hampered by the aforementioned factors throughout the forecast period. The global Power Bank market, on the other hand, is predicted to rebound as separate regulatory bodies begin to relax these imposed restrictions.

The report investigates North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa in terms of geography. With growing demand in emerging economies such as India and China, the Asia-Pacific region has the greatest proportion of the Power Bank market. Due to its rising applications in the vehicle sector, Europe is a close second. In the foreseeable future, North American and Latin American markets are expected to see significant expansion.

Global Power Bank market analysed across different geographies i.e. North America (U.S. & Canada), Europe (Germany, United Kingdom, Italy, Spain, Russia, France and Rest of Europe), Asia Pacific (China, India, Japan, Indonesia, Taiwan, South Korea, Australia, New Zealand), Latin America (Brazil, Mexico, Argentina) & Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa).

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Market Segmentation

By Applications

– Mobile Phones

– Tablets

– Digital Cameras

– Others

By Capacity

– Pocket Sized Power Bank

– Compact Power Bank

– High Capacity Power Bank

– Others

By Distribution Channel

– Online store

– Offline store

– Supermarket/Hypermarket

– Retail Stores

– Other Offline Stores

By Battery Type

– Lithium Ion Batteries

– Lithium Polymer Batteries

By Price Range

– High

– Medium

– low

By USB Output

– Single Ports

– Dual Ports

– More than two Ports

By Energy Source

– Electric

– Solar

Companies Profiled in Report

Some of the key players major Power Bank market companies profiled in the report include:

– Anker Technology
– Zagg Incorporation
– MilPow Limited
– RAVPOWER
– Griffin Technology
– Adata Technology
– Belkin International Incorporation
– Incipio LLC
– Xiaomi Corporation
– Intex Technology
– Other Major & Niche Players

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