Mobile Power Bank Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for portable power banks is a booming business, and it is expected to grow steadily, reaching $25.04 billion by 2025 and $37.22 billion by 2034. This represents a CAGR of 4.5% for the forecast period. This growth is being driven by the increasing reliance on portable electronic devices and the growing need for a reliable power supply. In addition, consumers are demanding more mobility and convenience, which has increased the demand for portable power banks across all age groups. The development of smart features and fast charging is a further boost to the market. Several companies, such as Anker, Xiaomi, and RAV Power, are investing heavily in research and development to offer consumers a range of solutions that meet their needs. Strategic alliances with smartphone manufacturers and the launch of eco-friendly power banks are also contributing to the market. As the market matures, these factors will continue to play a key role in driving the market and meeting the dynamic demands of consumers.

Regional Market Size

Regional Deep Dive

The Mobile Power Bank Market is experiencing significant growth in various regions, mainly driven by the increasing use of portable electronic devices and the need for continuous power supply. In North America, the market is characterized by high awareness and a strong tendency towards new charging solutions. Europe is characterized by a wide range of products, with a focus on sustainability and green products. Asia-Pacific is characterized by strong manufacturing and market penetration. The Middle East and Africa present opportunities and challenges due to the lack of developed electricity grids, while Latin America is gradually increasing its mobile device penetration, thus promoting the use of power banks.

Europe

• The European market is seeing a surge in eco-friendly power banks, with companies like EcoFlow and PowerOak leading the charge in developing solar-powered and biodegradable options, reflecting the region's commitment to sustainability.
• The European Union's stringent regulations on electronic waste are prompting manufacturers to design power banks that are easier to recycle, which is expected to enhance the market's appeal among environmentally conscious consumers.

Asia Pacific

• Asia-Pacific is home to major power bank manufacturers such as Xiaomi and Romoss, which are continuously innovating with features like fast charging and multi-device compatibility to meet the growing consumer demand.
• The emergence of a new generation of smart devices in the region and the rise in the penetration rate of smart phones are the main reasons why people buy power banks. At the same time, the government in India and other countries has also taken measures to improve electricity access, indirectly promoting the market.

Latin America

• The Latin American market is witnessing a rise in mobile device usage, particularly smartphones, which is driving the demand for power banks as consumers seek reliable charging options in areas with inconsistent electricity supply.
• Local startups are emerging in countries like Brazil and Argentina, focusing on affordable and innovative power bank solutions tailored to the needs of the region's consumers, which is expected to enhance market competition.

North America

• And now, with the rise of remote work and digital nomadism, a greater demand is being felt for portable chargers, as consumers seek a reliable charging solution for their devices on the go. For this trend, Anker and Mophie are developing high-capacity portable chargers.
• The new energy efficiency standards require manufacturers to develop more sustainable and energy-efficient products. In the United States, for example, the Department of Energy is promoting initiatives to reduce energy consumption in consumer products.

Middle East And Africa

• In the Middle East, the growing trend of outdoor activities and travel is increasing the demand for portable charging solutions, with companies like RAVPower targeting this niche market with rugged and durable power banks.
• Regulatory challenges related to import tariffs and product standards are influencing market dynamics, as local manufacturers seek to establish a foothold by producing regionally compliant power banks.

Did You Know?

“Did you know that the first portable power bank was introduced in 2001, but it wasn't until the smartphone boom in the late 2000s that the market truly began to expand?” — TechCrunch

Segmental Market Size

The mobile power supply market is growing rapidly, driven by the growing demand for portable devices. The key factors driving this market are the rise in the use of mobile phones and the growing need for uninterrupted connectivity, especially among young people and business people. Also, the growing popularity of remote working and digital nomadism has increased the need for reliable power solutions on the go. The mobile power supply market is already in a mature stage of development. The leading companies are Anker and RAVPower, which are well positioned in terms of product development and distribution. The most important markets are North America and Asia-Pacific, where there are large retail networks and e-commerce platforms to provide access to these products. The main applications are for outdoor activities, travel and emergencies, where power banks are an essential tool for maintaining device functionality. Also, the growing interest in sustainable solutions and the implementation of green energy standards are important growth drivers for the market. Fast charging and the integration of solar energy are the most important trends in this market, which will enhance the user experience and expand the scope of application.

Future Outlook

The market for mobile power banks is projected to rise from $24.76 billion in 2017 to $37.97 billion in 2025, a CAGR of 4.5%. This is mainly due to the growing demand for portable charging solutions, driven by the proliferation of mobile devices such as smartphones, tablets and wearables. The growing reliance of consumers on these devices has increased the need for reliable and efficient power sources, resulting in a higher penetration of power banks in daily life. By 2025, it is estimated that over 60% of mobile users will regularly use power banks, compared with the projected 45.6% in 2025, indicating a shift toward a greater acceptance of portable power sources. Further, the integration of solar and other alternative energy sources into mobile power banks will increase their appeal. Moreover, the introduction of smart power banks that are capable of charging other devices will appeal to both the technologically advanced and the environmentally conscious. The increasing popularity of outdoor activities and the support of government policies for the use of sustainable energy sources will also drive demand for mobile power banks that are both versatile and eco-friendly. In the future, manufacturers will have to focus on innovation and the use of sustainable materials to attract consumers with more diverse tastes, ensuring that the mobile power bank market will be dynamic and competitive.