Portable Battery Pack (Power Banks) Market Growth Is Driven By the Rapid Growth of the E-Commerce Industry

Portable Battery Pack (Power Banks) Market

 The growth of the portable battery pack (power banks) market can be attributed to the rising power consumption of electronic devices due to the increasing adoption of smartphones and other electronic devices and advancements in mobile technologies. There are more than three billion smartphone users worldwide, and the number expected to rise in coming years. United States, India, and China are the countries with the highest number of smartphone users. Thus, with the increasing number of smartphones, the demand for power banks is also increasing, which in turn is driving the portable battery pack (power banks) market growth.

In September 2020, Xiaomi expanded its power bank lineup in India with the launch of Power Bank 3i series, with 10,000 mAh Capacity. This power bank offers 18W fast charging support and houses a dual input port with Type-C and micro USB port. Portable battery packs are used to charge battery powered items, such as mobile phones and other similar items that have a USB interface. Power banks convert battery voltage to 5.0 volts for the USB port. Different types of power banks (portable battery packs), such as nickel-cadmium, nickel-metal, lithium-polymer, lithium-ion battery, etc. are available in the market.

The portable battery pack (power banks) market growth is also driven by the rapid growth of the e-commerce industry, worldwide, especially in the Asia Pacific. According to the India Brand Equity Foundation (IBEF), in India, smartphone shipments reached 150 million units and 5G smartphone shipments crossed 4 million in 2020, driven by the increasing consumer demand. For instance, in October 2020, OnePlus launched Power Bank with 10,000 mAh Capacity. It is available on Amazon, Flipkart, and OnePlus exclusive offline stores. The battery supports up to 18W fast charging and allows two devices to be charged at the same time.

Thus, the advent of novel features such as fast charging and Type-C connectivity is expected to accelerate the portable battery pack (power banks) market growth. However, the advent of smartphones with larger battery capacity and increasing incidence of product piracy are major factors expected to restrain growth of the portable battery pack (power banks) market. Today, smartphone manufacturers are focused on designing smartphones with large battery capacity to meet the increasing demand for mobile phones with longer stand-by time. For instance, in April 2021, Xiaomi launched Redmi Note 10 in India with 5,000 mAh battery capacity.

https://www.coherentmarketinsights.com/market-insight/portable-battery-pack-market-3929

Location: India

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