At 13.6% CAGR, the Asia Pacific Power Bank Market is projected to be worth US$ 11,933.02 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific power bank market was valued at US$ 4,889.80 million in 2023 and is expected to reach US$ 11,933.02 million by 2030, registering a CAGR of 13.6% from 2023 to 2030. Increasing penetration of smartphones and other electronic devices and rising power outrage problems are the critical factors attributed to the Asia Pacific power bank market.       

The growing focus on environmental sustainability has led to the emergence of eco-friendly power banks. One of the essential benefits of using solar power banks is that they are environmentally friendly and can help reduce and greenify power consumption when charging electronic devices. As a result, people can save some money on their monthly electrical bills. Solar power banks are also safe to bring anywhere people want to carry. Another benefit of using solar power banks is that they are compatible with almost all types of phones and other electronic devices.

The rising popularity of electronic devices, such as smartphones, tablets, laptops, and wearable gadgets, has created a need for portable charging options. Eco-conscious consumers who prefer using energy-efficient and sustainable devices are likely to invest in power banks that align with their environmental values. Power banks enable users to charge their devices on the go, reducing the reliance on traditional power outlets and minimizing energy waste. Power banks are particularly valuable in off-grid or remote areas where access to electricity infrastructure is limited or unreliable. In such regions, eco-friendly power solutions, such as solar-powered or hand-cranked power banks, are becoming increasingly popular. These devices can harness renewable energy sources to charge and store energy, providing sustainable power options for users in rural or underserved communities.

With the growing environmental concerns, consumers actively seek products and brands demonstrating a sustainability commitment. Power banks that are marketed as eco-friendly or made from recycled materials can attract environmentally conscious buyers. Manufacturers and retailers recognize the importance of incorporating sustainability into their offerings to enhance their brand reputation and appeal to a broader customer base. Various market players are launching new eco-friendly power banks. For instance, in November 2021, USB2U launched new recycled power banks. This removes the need to cause further environmental damage by creating the material from scratch and gives otherwise redundant goods a new purpose and form.

On the contrary, rising installation of charging infrastructures in public places hampers the Asia Pacific Power Bank Market.  

Based on capacity, the Asia Pacific power bank market is segmented into 10001-15000 mAh, 15001-20000 mAh, above 20001 mAh, 5001-1000 mAh, and 1000-5000 mAh. The 10001-15000 mAh segment held 50.5% share of Asia Pacific power bank market in 2023, amassing US$ 2,471.34 million. It is projected to garner US$ 6,323.09 million by 2030 to expand at 14.4% CAGR during 2023–2030.

Based on battery type, the Asia Pacific power bank market is segmented into lithium-ion battery, and lithium-polymer battery. The lithium-ion battery segment held 83.4% share of Asia Pacific power bank market in 2023, amassing US$ 4,077.57 million. It is projected to garner US$ 9,857.33 million by 2030 to expand at 13.4% CAGR during 2023–2030.

Based on indicator, the Asia Pacific power bank market is segmented into LED lighting and digital display. The LED lighting segment held 64.0% share of Asia Pacific power bank market in 2023, amassing US$ 3,130.34 million. It is projected to garner US$ 7,396.24 million by 2030 to expand at 13.1% CAGR during 2023–2030.

Based on application, the Asia Pacific power bank market is segmented into smartphone, wearable devices, laptop, tablets, digital camera, and others. The smartphone segment held 49.5% share of Asia Pacific power bank market in 2023, amassing US$ 2,420.32 million. It is projected to garner US$ 6,348.55 million by 2030 to expand at 14.8% CAGR during 2023–2030.

Based on country, the Asia Pacific power bank market has been categorized into the China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 42.1% share of Asia Pacific power bank market in 2023. It was assessed at US$ 2,058.81 million in 2023 and is likely to hit US$ 5,419.10 million by 2030, exhibiting a CAGR of 14.8% during 2023–2030.

Key players operating in the Asia Pacific power bank market are ADATA Technology Co., Ltd, Ambrane India Pvt Ltd, Anker Innovations Technology Co Ltd, ZAGG Inc, Aukey Technology Co Ltd, Intex Technologies India Ltd, Lenovo Group Ltd, and Xiaomi Corp, among others.

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