At 10.3% CAGR, the South & Central America Power Bank Market is projected to be worth US$ 1,065.64 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America Power Bank Market was valued at US$ 535.56 million in 2023 and is expected to reach US$ 1,065.64 million by 2030, registering a CAGR of 10.3% from 2023 to 2030. Increasing penetration of smartphones and other electronic devices and rising power outrage problems are the critical factors attributed to the South & Central America power bank market.     

Wireless charging power banks offer the convenience of wirelessly charging compatible devices, eliminating the need for cables and adaptors. They provide a convenient solution for wireless charging-enabled devices on the go. The adoption of wireless charging technology has expanded across various device categories, including smartphones, smartwatches, and wireless earbuds. As more devices incorporate wireless charging capabilities, the demand for compatible power banks naturally increases. Wireless charging power banks enable users to charge multiple devices simultaneously, making them versatile and appealing to a broader range of consumers. Further, Wireless charging power banks often incorporate advanced safety features, such as temperature control, over-current protection, and short-circuit prevention, ensuring the safety of both the power bank and the connected devices.

Wireless charging eliminates wear and tear on charging cables, reducing the risk of cable damage and extending the overall lifespan of the power bank. These safety and durability aspects make wireless charging power banks an attractive choice for consumers. Wireless charging technology continues to evolve, offering faster charging speeds and improved efficiency. The introduction of Qi wireless charging standards has standardized compatibility across devices, which is further driving the adoption of wireless charging power banks. As advancements continue, wireless charging power banks are becoming more efficient, delivering faster and more reliable charging capabilities. As wireless charging becomes increasingly popular, the South & Central America Power Bank Market is witnessing intense competition among manufacturers. Many companies are introducing wireless charging power banks as part of their product offerings to stay competitive and cater to consumer demands. For instance, in October 2022, Stuff cool launched a 10,000 mAh power bank with 15 W wireless charging support. Therefore, with increasing innovation, developing new features, enhanced designs, and improved performance in wireless charging power banks is driving the South & Central America Power Bank Market.

On the contrary, rising installation of charging infrastructures in public places hampers the South & Central America Power Bank Market.  

Based on capacity, the South & Central America 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 48.4% share of South & Central America Power Bank Market in 2023, amassing US$ 258.99 million. It is projected to garner US$ 544.33 million by 2030 to expand at 11.2% CAGR during 2023–2030.

Based on battery type, the South & Central America power bank market is segmented into lithium-ion battery and lithium-polymer battery. The lithium-ion battery segment held 89.2% share of South & Central America power bank market in 2023, amassing US$ 477.51 million. It is projected to garner US$ 944.64 million by 2030 to expand at 10.2% CAGR during 2023–2030.

Based on indicator, the South & Central America power bank market is segmented into LED lighting and digital display. The LED lighting segment held 74.3% share of South & Central America Power Bank Market in 2023, amassing US$ 397.70 million. It is projected to garner US$ 777.50 million by 2030 to expand at 10.1% CAGR during 2023–2030.

Based on application, the South & Central America power bank market is segmented into smartphone, wearable devices, laptop, tablets, digital camera, and others. The smartphone segment held 56.8% share of South & Central America Power Bank Market in 2023, amassing US$ 304.43 million. It is projected to garner US$ 641.64 million by 2030 to expand at 11.2% CAGR during 2023–2030.

Based on country, the South & Central America Power Bank Market has been categorized into the Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the China captured 66.9% share of South & Central America Power Bank Market in 2023. It was assessed at US$ 358.22 million in 2023 and is likely to hit US$ 741.43 million by 2030, exhibiting a CAGR of 11.0% during 2023–2030.

Key players operating in the South & Central America Power Bank Market are ADATA Technology Co., Ltd, Anker Innovations Technology Co Ltd, Lenovo Group Ltd, and Xiaomi Corp, among others.

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