Mobile Power Banks Producers and Mobile Power Banks Market Trend
The global mobile power banks market has witnessed unprecedented growth over the past five years, according to HDIN Research. These portable chargers, designed to store energy and primarily used for recharging consumer electronic devices such as wireless phones and laptops, have become an essential companion for tech-savvy individuals worldwide.
From 2018 to 2023, the global mobile power banks market has experienced remarkable expansion, with its market size skyrocketing from $1.7 billion to an astounding $17.5 billion, representing an impressive Compound Annual Growth Rate (CAGR) of 59.4%. The surge in demand can be attributed to the ever-increasing power requirements of modern consumer electronics as their performance capabilities continue to improve.
Analysts predict that this trend will persist, forecasting that the global mobile power banks market will reach $28.2 billion by 2028, with a CAGR of 10.0% from 2023 to 2028. This growth is expected to be driven by the incessant thirst for power in smart devices such as smartphones, tablets, laptops, and wearables.
In terms of regional market distribution, the Asia-Pacific region emerges as the dominant consumer market, commanding a substantial 51% market share. Following closely behind are Europe at 19%, North America at 15%, South America at 10%, and the Middle East and Africa (MEA) at 5%.
The mobile power banks industry encompasses a comprehensive supply chain. Upstream components include battery cells, integrated circuit (IC) chips, and connectors. Downstream, the applications span across a wide range of electronic devices, catering to the charging needs of smartphones, tablets, laptops, and wearable gadgets.
As the world embraces an increasingly digital lifestyle, the mobile power banks market is expected to maintain its impressive growth trajectory. These portable chargers have become an indispensable accessory for users seeking to stay connected and powered up while on the go. With innovations in battery technology and a growing demand for energy-efficient charging solutions, the mobile power banks industry is poised for an electrifying future.