Portable Charger Market
According to a new report published by Allied Market Research, The global portable charger market size was valued at $6.8 billion in 2021, and projected to reach $17.3 billion by 2031, with a CAGR of 9.8% from 2022 to 2031.
A portable charger, also known as a power bank, is a compact device that stores electrical energy and is used to charge electronic gadgets like smartphones, tablets, laptops, cameras, and more when you’re away from a fixed power source.
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Asia-Pacific holds a market share of 47.3% in 2021 and would continue to maintain the lead over the forecast period.
The major companies profiled in this report include Anker Innovations, Sony Europe B.V., Accutronics Ltd., Rizk National Industries LLC, Chengdu Khons Technology Co. Ltd., Omnicharge Inc., Platinet, Samsung SCI Co. Ltd., Lzen Electronics, ARD Accessories Pvt. Ltd., Belkin International Inc., Microsoft Corporation, Voltaic Systems, Xiaomi Technology, Sony Corporation, Panasonic Corporation, and GP Batteries International.
Factors such as improved consumer purchasing power, better living standards, and fast economic progress impact the market positively.
Availability of such devices with varied capacities drive the market growth, as they cater to multiple customer segments.
Rise in demand for smartphones, tablets, and other digital devices lead to surge in the portable charger market growth.
Some of the portable power banks are really heavy and bulky, which makes them impossible to carry around.
Cell phones are currently outfitted with high limit batteries and proficient chipset, which hampers the market growth.
Key Features
Battery Capacity:
Measured in milliampere-hours (mAh).
Higher capacity means more charges; common sizes range from 2,000 mAh to 30,000 mAh.
Output Ports:
Varying numbers and types (USB-A, USB-C, etc.).
Multiple ports allow charging several devices simultaneously.
Charging Speed:
Fast charging capabilities, indicated by higher output amperage (e.g., 2.1A vs. 1A).
Technologies like Quick Charge and Power Delivery enhance speed.
Size and Weight:
Compact designs are easier to carry, while larger models provide more power.
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Innovative advancements in convenient chargers, such as remote versatile chargers, provide growth opportunities for the market.
Rapidly industrialization, modernization, and spread of information through internet have led to the development of electronic appliance industry, which in-turn, has fueled the demand for portable chargers.
Growth strategies such as expansion of production capacities, acquisition, partnership, and research & innovation in the solar energy application have led to attain key developments in the global portable charger market trends.
By type. single solar plate segment held more than 50% of market share in 2021.
By Application, mobile phones and laptop segment collectively possess market share of 62.1% in 2021.
By Sales Channel, offline segment holds approximately three-forth of market share in 2021.
Advantages
Convenience: Recharge devices anytime, anywhere.
Compatibility: Works with most USB-powered devices.
Emergency Backup: Essential for travel, outdoor activities, or during power outages.
Considerations When Choosing a Portable Charger
Capacity vs. Size: Balance between portability and power.
Number of Devices: Choose based on how many devices you’ll need to charge.
Charging Technology: Look for features like fast charging for quicker recharges.
Common Use Cases
Travel: Keep phones, tablets, and earbuds charged on long flights or road trips.
Outdoor Activities: Camping, hiking, or festivals where outlets aren’t available.
Emergency Backup: Power outages or natural disasters.
Work On-the-Go: Charging laptops, cameras, or mobile hotspots.
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2, is transmitted from humans to humans.
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Covid-19 pandemic has drastically impacted almost all industries across the world. Automotive, electrical & electronics, semiconductors, aircraft, food & beverages are some of the business that is severely damaged.
