Power Banks Market Expected to Surpass US$ 20.6 Bn by 2032 Driven by Growing Dependence on Mobile Devices Globally

The global power banks market is witnessing robust growth, projected to reach a market value of US$ 20.6 Bn by 2032, up from an estimated US$ 12.4 Bn in 2025. This reflects a steady CAGR of 7.4% during the forecast period. A surge in smartphone users and an expanding population of outdoor enthusiasts are key growth drivers for the market. Rising reliance on mobile and portable electronics, including smartphones, tablets, and laptops, is boosting the demand for power banks that ensure continuous power supply on the go.

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Among all segments, power banks with a capacity range of 8,001 to 20,000 mAh are expected to dominate, accounting for 69% market share in 2025. North America is projected to be the leading geographical region, holding a 26% share by 2025. This dominance is attributed to high smartphone penetration, strong infrastructure, and a large base of consumers engaged in remote work and outdoor activities.

Key Highlights from the Report

➤ Rising smartphone penetration in low-electrification regions is driving demand for power banks.
➤ Increasing popularity of outdoor activities fuels demand for portable and solar-powered power banks.
➤ Wireless charging innovations are boosting demand for premium, high-tech power banks.
➤ North America shows fastest growth due to hybrid work culture and high mobile device usage.
➤ Online retail is emerging as a major distribution channel, projected to hold 53% share in 2025.
➤ The 8,001 to 20,000 mAh capacity segment continues to dominate due to optimal balance of portability and performance.

Market Segmentation

The power banks market is segmented based on capacity range, energy source, battery type, and distribution channel. In terms of capacity, the 8,001 to 20,000 mAh segment remains dominant, offering a balanced mix of charging cycles, compact size, and affordability. The segment above 20,000 mAh is gaining traction among heavy users, gamers, and travelers requiring multiple charges or the ability to charge several devices simultaneously.

By energy source, electric-powered power banks continue to lead, but solar-powered models are expected to witness the highest CAGR of 17.1% through 2032. These appeal especially to eco-conscious users and outdoor enthusiasts. Regarding battery type, lithium-ion remains the preferred option due to its high energy density and durability, though lithium polymer variants are growing in popularity for their slim design and safety features. Online channels dominate distribution, providing consumers with convenient access to product comparisons and a broader range of models.

Regional Insights

North America is set to lead the global power banks market, driven by high smartphone adoption, particularly in the U.S., where penetration has reached around 89%. The region's hybrid work model, strong retail infrastructure, and affinity for premium gadgets also contribute to this growth. South Asia and Oceania are rising as high-growth regions, supported by increasing smartphone usage, digital literacy, and demand for affordable charging solutions.

Europe continues to hold a strong position with widespread use of mobile gadgets, while Latin America and Sub-Saharan Africa present emerging opportunities for solar-powered and low-cost power banks due to limited electricity access. East Asia, led by China and Japan, benefits from strong manufacturing bases and tech-savvy consumers, bolstering both demand and innovation in the sector.

Market Drivers

A key driver of the power banks market is the increasing number of global smartphone users, which surpassed 6.8 billion in 2024. With average screen time now exceeding 4 hours per day, users are turning to power banks to ensure continuous device usage, especially during travel or long work hours. Further, adventure tourism and outdoor activities have significantly risen, particularly among millennials and Gen Z, necessitating reliable power backup for GPS, smartphones, and cameras. These shifts in lifestyle and tech adoption patterns are fueling sustained demand.

Additionally, the rise of hybrid and remote work models has elevated the need for portable power sources. Professionals require continuous device usage across multiple locations, increasing dependence on power banks. The growing prevalence of high-drain applications like gaming and video streaming also accentuates the need for reliable backup charging solutions.

Market Restraints

Despite rapid growth, the power banks market faces challenges such as low energy efficiency in wireless charging models. Wireless power banks typically suffer from up to 30% energy loss during transmission, increasing electricity consumption and environmental impact. This inefficiency may deter eco-conscious consumers, especially as sustainability becomes a purchasing criterion.

Moreover, high-end models with advanced features often come at premium prices, limiting accessibility in price-sensitive markets. Manufacturing cost fluctuations and supply chain disruptions can also impact pricing and availability. Lastly, competition from emerging technologies like integrated fast-charging battery systems in devices may pose a threat to traditional power bank usage.

Market Opportunities

The growing adoption of wearable devices like smartwatches, fitness trackers, and health monitors presents a new frontier for power banks. These devices have limited battery lives and benefit from compact, multi-port, or wireless power banks. The expansion of IoT applications, especially in smart home systems and remote monitoring tools, also drives demand for auxiliary charging solutions.

Moreover, the declining cost of solar panels has made solar-powered power banks more affordable, opening up new markets in remote and low-income areas. Innovative designs, such as foldable solar panels and rugged, waterproof casings, are tailored for adventure seekers. Enhanced AI-powered power management systems and fast-charging innovations further position the market for expansion.

Frequently Asked Questions (FAQs)

◆ How big is the power banks market in 2025 and what is its growth outlook?
◆ What is the projected CAGR of the power banks market through 2032?
◆ Which region is estimated to dominate the power banks industry through the forecast period?
◆ Who are the key players in the global market for power banks?
◆ What is the market forecast for the power banks industry by 2032?

Company Insights

• Anker Technology Co. Ltd.
• Xiaomi Corporation
• Samsung SDI Co., Ltd
• RAVPower (by Sunvalley)
• AUKEY
• Ambrane India Private Ltd.
• ASUSTeK Computer Inc.
• Lenovo Group Ltd.
• Sony
• Otterbox
• Mophie
• Philips
• GoalZero
• Baseus

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This release was published on openPR.