At 12.3% CAGR, the North America Power Bank Market is projected to be worth US$ 6,870.18 million by 2030, says Business Market Insights

According to Business Market Insights research, the North America power bank market was valued at US$ 3,054.52 million in 2023 and is expected to reach US$ 6,870.18 million by 2030, registering a CAGR of 12.3% from 2023 to 2030. Increasing penetration of smartphones and other electronic devices and rising power outrage problems are the critical factors attributed to the North America power bank market. 

Mobile devices have become an integral part of today’s life. Portable devices such as tablets, laptops, and smartphones and wearable technologies, including smartwatches, offer many communication features, such as voice/video calls and texts. In addition, smartphone applications are now common on mobile devices, supporting various activities such as tracking health and fitness-related information, obtaining directions, shopping, and banking. However, with all this use comes one major problem: battery life. To keep these devices charged on the go, consumers need a reliable and convenient charging solution, i.e., power banks. The demand for power banks is increasing due to the rise in the adoption of smartphones globally.

Nowadays, Android smartphones have much bigger batteries than devices from six or seven years ago, with 5,000 mAh batteries. Bigger batteries do not necessarily mean that power banks and portable chargers are not important anymore. Power banks are portable charging devices that can charge smartphones or other devices with a USB port. Power banks can also charge Bluetooth speakers, headphones, etc. In today’s world, power banks are becoming necessary with the increasing penetration of smartphones and other electronics. The main reason for increased power bank sales is the fast and rapid charging it provides. A power bank is a must for everyone who needs to travel constantly and to a normal household where you may not get a free plug point every time to charge smartphones or other electronics. With the increasing penetration of smartphones and other electronics, various companies are launching power banks with different capacities. For instance, in August 2021, the mobile accessories brand “Ambrane” expanded its power bank lineup by launching three devices: Stylo 10K, Stylo 20K, and Stylo Pro. These power banks come with a USB Type-C port and come equipped with quick charge 3.0. Therefore, the increasing penetration of smartphones and other electronic devices such as tablets, laptops, and wearables are driving the North America power bank market.

On the contrary, rising installation of charging infrastructures in public places hampers the North America power bank market.  

Based on capacity, the North 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 47.8% share of North America power bank market in 2023, amassing US$ 1,461.44 million. It is projected to garner US$ 3,464.07 million by 2030 to expand at 13.1% CAGR during 2023–2030.

Based on battery type, the North America power bank market is segmented into lithium-ion battery and lithium-polymer battery. The lithium-ion battery segment held 86.8% share of North America power bank market in 2023, amassing US$ 2,651.38 million. It is projected to garner US$ 5,921.23 million by 2030 to expand at 12.2% CAGR during 2023–2030.

Based on indicator, the North America power bank market is segmented into LED lighting and digital display. The LED lighting segment held 69.6% share of North America power bank market in 2023, amassing US$ 2,126.67 million. It is projected to garner US$ 4,678.62 million by 2030 to expand at 11.9% CAGR during 2023–2030.

Based on application, the North America power bank market is segmented into smartphone, wearable devices, laptop, tablets, digital camera, and others. The smartphone segment held 51.2% share of North America power bank market in 2023, amassing US$ 1,563.23 million. It is projected to garner US$ 3,758.99 million by 2030 to expand at 13.4% CAGR during 2023–2030.

Based on country, the North America power bank market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.1% share of North America power bank market in 2023. It was assessed at US$ 2,477.03 million in 2023 and is likely to hit US$ 5,650.14 million by 2030, exhibiting a CAGR of 12.5% during 2023–2030.

Key players operating in the North America power bank market are ADATA Technology Co., Ltd, Anker Innovations Technology Co Ltd, Vinci Brands LLC, Zagg Inc., Lenovo Groups Ltd, Sunvalleytek International Inc, and Xiaomi Corp, among others.

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