At 11.1% CAGR, the Middle East & Africa Power Bank Market is projected to be worth US$ 1,948.72 million by 2030, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa Power Bank Market was valued at US$ 931.77 million in 2023 and is expected to reach US$ 1,948.72 million by 2030, registering a CAGR of 11.1% from 2023 to 2030. Increasing penetration of smartphones and other electronic devices and rising power outrage problems are the critical factors attributed to the Middle East & Africa power bank market.        

People are highly dependent on electricity for powering consumer electronics. Therefore, there is a need for constant and uninterrupted power supply. However, there is a surge in power outages worldwide due to changing weather conditions, storms, and aging power infrastructure. For instance, Individuals and businesses seek alternative power sources to keep their smartphones, laptops, tablets, and other electronic devices functioning during blackouts. People want to ensure they have reliable power sources in case of unexpected power failures or during natural disasters. Therefore, the rising power outage issues are fueling the demand for power banks.

On the contrary, rising installation of charging infrastructures in public places hampers the Middle East & Africa power bank market.  

Based on capacity, the Middle East & Africa 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 45.6% share of Middle East & Africa power bank market in 2023, amassing US$ 424.93 million. It is projected to garner US$ 947.39 million by 2030 to expand at 12.1% CAGR during 2023–2030.

Based on battery type, the Middle East & Africa power bank market is segmented into lithium-ion battery and lithium-polymer battery. The lithium-ion battery segment held 88.2% share of Middle East & Africa power bank market in 2023, amassing US$ 821.41 million. It is projected to garner US$ 1,707.07 million by 2030 to expand at 11.0% CAGR during 2023–2030.

Based on indicator, the Middle East & Africa power bank market is segmented into LED lighting, and digital display. The LED lighting segment held 72.2% share of Middle East & Africa power bank market in 2023, amassing US$ 672.27 million. It is projected to garner US$ 1,378.71 million by 2030 to expand at 10.8% CAGR during 2023–2030.

Based on application, the Middle East & Africa power bank market is segmented into smartphone, wearable devices, laptop, tablets, digital camera, and others. The smartphone segment held 57.1% share of Middle East & Africa power bank market in 2023, amassing US$ 531.87 million. It is projected to garner US$ 1,170.76 million by 2030 to expand at 11.9% CAGR during 2023–2030.

Based on country, the Middle East & Africa power bank market has been categorized into the Saudi Arabia, South Africa, the UAE and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 43.2% share of Middle East & Africa power bank market in 2023. It was assessed at US$ 402.22 million in 2023 and is likely to hit US$ 885.33 million by 2030, exhibiting a CAGR of 11.9% during 2023–2030.

Key players operating in the Middle East & Africa power bank market are ADATA Technology Co., Anker Innovations Technology Co Ltd, Lenovo Group, and Xiaomi Corp, among others.

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