The Asia Pacific Power Bank Market would witness market growth of 18.9% CAGR during the forecast period (2022-2028).
When users are on the go, a power bank can be used to recharge the battery-operated devices. A power bank can range in size from pocket-sized to larger and has a higher capacity. Most likely, a power bank can charge it if the user can connect it to a wall outlet to charge.
Advances in technology and the quick expansion of online retail platforms are to blame for the rise in energy usage of electronic devices. The rise in internet usage and the insufficient battery life of smartphones as well as other portable consumer electronics are expected to continue to be the main drivers of power bank sales.
The market is also growing as a result of power banks' low prices. As a result of an increase in the local manufacture and assembly of battery chargers, as well as the arrival of new suppliers, prices have fallen. Additionally, power banks are priced competitively due to the intense competition among manufacturers.
China is already one of the leading nations in the world when it comes to the production of smartphones, and experts anticipate that it will continue to show tremendous growth in the past few years. China is home to many different smartphone companies, including Realme, Huawei, Xiaomi, Honor, OnePlus, Oppo, and Vivo. As a result of the rapid rollout of the technology, China is considered to be one of the world's leaders in the adoption of 5G. In China, the adoption of 5G technology is being pushed forward by a combination of rapid network deployment and a mature device ecosystem.
The China market dominated the Asia Pacific Power Bank Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,359.7 million by 2028. The Japan market is experiencing a CAGR of 18.2% during (2022 - 2028). Additionally, The India market would display a CAGR of 19.7% during (2022 - 2028).
Based on Capacity Range, the market is segmented into 8,001 mAh-20,000 mAh, Up to 3,000 mAh, 3,001 mAh-8,000 mAh, and Above 20,000 mAh. Based on Energy Source, the market is segmented into Electric and Solar. Based on Battery Type, the market is segmented into Lithium-ion and Lithium Polymer. Based on Distribution Channel, the market is segmented into E-commerce and Brick & Mortar. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Power Bank Market is Projected to reach USD 22.8 Billion by 2028, at a CAGR of 18.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Xiaomi Corporation, Microsoft Corporation, Panasonic Corporation, Sony Corporation, Lenovo Group Limited, ASUSTeK Computer Inc., Intex Technologies, Anker Innovations Co. Ltd., Ambrane India Pvt Ltd., and ADATA Technology Co., Ltd.
By Capacity Range
By Energy Source
By Battery Type
By Distribution Channel
By Country
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