The Latin America, Middle East and Africa Power Bank Market would witness market growth of 22.0% CAGR during the forecast period (2022-2028).
Fast-moving consumer gadgets like power banks require less cash to start up a manufacturing unit. Over the forecast period, it really is anticipated that manufacturer competition would remain fierce. Currently, power banks are a necessary smartphone accessory. Additionally, the prices of power banks have decreased as a result of the rising demand for them.
Power banks' total cost of ownership is declining in the market as a result of increased demand and fierce competition. The arrival of new vendors and increased domestic production and assembly have also contributed to the drop -in power bank pricing.
Growing economies, more consumer spending power, and growing living standards are the three main drivers of the global electronics market. The low battery capacity of electronic gadgets drives the demand for power banks and propels the growth of the power bank market.
The proliferation of smartphone use is accelerating at a rapid rate around the world as a direct result of the significant developments that have been made in the field of mobile technology. The demand for smartphones has significantly increased over the past five years, which has led to an increase in the demand for smartphones in the United Arab Emirates (UAE), which mirrors the same trend. Smartphones are becoming more accessible to the general public as a result of mobile industry titans producing a plethora of new smartphone models and selling them at prices that are noticeably cheaper than in the past.
The Brazil market dominated the LAMEA Power Bank Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $464.9 million by 2028. The Argentina market is estimated to grow at a CAGR of 22.7% during (2022 - 2028). Additionally, The UAE market would experience a CAGR of 21.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Power Bank Market is Predict to reach $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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