
Study Period | 2019 - 2030 |
Market Size (2025) | USD 20.10 Billion |
Market Size (2030) | USD 29.59 Billion |
CAGR (2025 - 2030) | 8.04 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Power Bank Market Analysis
The Power Bank Market size is estimated at USD 20.10 billion in 2025, and is expected to reach USD 29.59 billion by 2030, at a CAGR of 8.04% during the forecast period (2025-2030).
- The power bank market is demonstrating robust growth, driven by the increasing dependence on portable electronic devices such as smartphones, tablets, and laptops. The growing prevalence of remote work, outdoor activities, and travel has escalated the demand for efficient and reliable charging solutions. Advancements in technology, including fast charging, wireless charging, and higher battery capacities, are enhancing product competitiveness. The expansion of e-commerce platforms has further streamlined accessibility and boosted sales.
- Additionally, the rising adoption of energy-efficient and solar-powered power banks aligns with the preferences of environmentally conscious consumers. Emerging markets, particularly in the Asia-Pacific region, are significantly contributing to the market's rapid growth, supported by increasing smartphone penetration and urbanization.
- Moreover, with rising environmental concerns, the demand for sustainable and eco-friendly power solutions is surging. Power banks are joining this green revolution as manufacturers seek to lessen their environmental footprint. They're turning to recycled materials, biodegradable components, and advanced battery technologies. Some companies have taken the lead, crafting power banks from recycled plastics and other eco-friendly materials, thereby shrinking their products' carbon footprint. Solar charging technology is advancing, and solar-powered power banks are now enabling users to harness renewable energy for device recharges. This feature has garnered particular favor among outdoor enthusiasts and travelers.
- The presence of low-quality power banks negatively impacts the market by reducing consumer confidence and damaging brand reputation. These inferior products often lack essential safety features, creating risks such as overheating, short circuits, and explosions. The devices also demonstrate poor performance with reduced battery capacity and slow charging speeds, resulting in customer dissatisfaction. The proliferation of counterfeit and low-cost power banks affects market credibility and reduces sales of genuine, quality products.
- Macroeconomic factors significantly shape the dynamics of the power bank market. When the economy thrives, consumers have more purchasing power, boosting demand for electronics, power banks included. However, during economic downturns or recessions, spending on non-essential items, such as power banks, often declines. A robust economy usually sees a surge in demand for mobile devices and their accessories.
Power Bank Market Trends
Smartphone and Tablets to Witness Major Growth
- As modern smartphones boast high-resolution screens, powerful processors, and 5G connectivity, they increasingly support resource-intensive apps such as gaming, streaming, and navigation. This surge in capability leads to rapid battery depletion, highlighting the growing need for portable charging solutions like power banks.
- The significant smartphone penetration worldwide, notably in emerging countries, is emerging as a key driver for the demand for power banks. The global smartphone market sees a corresponding surge as consumers' lifestyles evolve. Despite rapid advancements in tablet and smartphone technology, battery capacities remain constrained, fueling a heightened demand for power banks.
- Additionally, data from GSMA reveals that North America led in smartphone adoption in 2023, boasting an 84% rate of total mobile connections. Projections indicate North America's smartphone adoption could climb to 89% by 2030, while regions such as Eurasia and Asia Pacific are poised for even more significant growth.
- Wireless power banks are becoming increasingly popular for smartphones and tablets. Market vendors are responding by introducing wireless power banks to meet the rising demand for convenient on-the-go charging. For instance, in January 2024, Urbn unveiled its latest lineup of power banks. The MagTag Magnetic Wireless power banks, available in 5,000 mAh and 10,000 mAh capacities, cater to both Android and iOS users. A standout feature of the MagTag is that it includes the MagTag ring in every box, designed to offer seamless wireless charging for both iPhones and Android devices, ensuring convenient charging.

Asia Pacific to Register Major Growth
- The growth of the power bank market in the Asia Pacific region is primarily driven by the increasing adoption of smartphones, tablets, and wearable devices, as these products necessitate reliable battery backup solutions. Furthermore, the convenience offered by power banks in ensuring uninterrupted device usage has significantly contributed to their rising demand.
- Further, the expansion of the e-commerce sector, which facilitates easy access to a wide range of power bank options, along with continuous technological advancements enhancing product efficiency and features, is strengthening the market's appeal.
- Social media platforms and influencer marketing have emerged as critical tools for promoting power banks through digital channels. These strategies are particularly effective in engaging younger demographics, fostering brand awareness, and influencing purchasing decisions.
- In 2024, IBEF projected India's e-commerce sales to grow by over 19%, boosting the market's revenue potential. The average retail e-commerce revenue per user exceeded USD 85, highlighting strong consumer spending. This growth has driven power bank sales, supported by rising demand for portable devices and accessories.
- Furthermore, the rising adoption of high-capacity devices, including tablets and laptops, is significantly driving the need for fast-charging power banks, as these devices require robust and efficient charging solutions to support their intensive usage.

Power Bank Industry Overview
The power bank market is semi-consolidated, with an array of products. However, major vendors such as GooXiaomi Corporation, Lenovo Group Limited, Panasonic Corporation, Koninklijke Philips NV, Sony Corporation, and many more are highly preferred power bank product providers across various applications in different countries.
With growing consolidation, technological advancement, and geopolitical scenarios, the studied market is fluctuating. In addition, with the increasing energy efficiency measures due to the ongoing energy crisis, the intensity of competition in the examined market is expected to continue to rise, considering their ability to invest, which results from their revenues.
Further, in a market where the sustainable competitive advantage through innovation is considerably high, the competition will only increase, considering the anticipated surge in demand from new customers. In addition, vendors expanding in the current market are further expected to increase the competition.
Power Bank Market Leaders
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Xiaomi Corporation
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Lenovo Group Limited
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Realme Mobile Telecommunications (Shenzhen) Co., Ltd.
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Panasonic Energy Co., Ltd. (Panasonic Holdings Corporation)
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Koninklijke Philips N.V.
- *Disclaimer: Major Players sorted in no particular order

Power Bank Market News
- December 2024: Xiaomi Corporation has launched its Ultra Slim Power Bank, boasting fast charging capabilities. The new Ultra Slim Power Bank from Xiaomi Corporation is equipped with a 4900 mAh battery, delivering 20 W charging for both Android and iOS devices. Additionally, it supports an 18 W input for rapid charging. Notably, its standout feature is a mere 10 mm thickness, positioning it as one of the sleekest power banks in the market.
- December 2024: Lenovo Group has introduced its Yoga Air magnetic power banks in China, now featuring MagSafe support. These new power banks, designed to be compact and lightweight, come in two affordable capacities, 3,000 mAh and 5,000 mAh. Currently, the Yoga Air Power Banks are exclusive to the Chinese market, which may lead to a potential global launch.
Power Bank Industry Segmentation
A power bank is a gadget that acts as a power reservoir for charging mobile devices such as smartphones, tablets, and others. The increase in the adoption of mobile and connected devices has augmented the demand for power banks to ensure the incessant use of these devices with sufficient power backup.
The power bank market is segmented by capacity range (500-5999mAh, 6000-9999mAh, 10,000mAh-13000mAh, and >13000mAh), charging mode (wired and wireless), application (smartphones and tablets, cameras, and laptops, other applications (smartband, wireless headset), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa).
The market size and forecasts are provided in terms of value (USD) for all the above segments.
By Capacity Range | 500-5999mAh |
6000-999mAh | |
10000mAh -13000mAh | |
> 13000mAh | |
By Charging Mode | Wired |
Wireless | |
By Application | Smartphone and Tablets |
Cameras | |
Laptops | |
Other Applications (Smart band, Wireless Headsets) | |
By Geography*** | North America |
Europe | |
Asia | |
Australia and New Zealand | |
Latin America | |
Middle East and Africa |
Power Bank Market Research Faqs
How big is the Power Bank Market?
The Power Bank Market size is expected to reach USD 20.10 billion in 2025 and grow at a CAGR of 8.04% to reach USD 29.59 billion by 2030.
What is the current Power Bank Market size?
In 2025, the Power Bank Market size is expected to reach USD 20.10 billion.
Who are the key players in Power Bank Market?
Xiaomi Corporation, Lenovo Group Limited, Realme Mobile Telecommunications (Shenzhen) Co., Ltd., Panasonic Energy Co., Ltd. (Panasonic Holdings Corporation) and Koninklijke Philips N.V. are the major companies operating in the Power Bank Market.
Which is the fastest growing region in Power Bank Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Power Bank Market?
In 2025, the Asia Pacific accounts for the largest market share in Power Bank Market.
What years does this Power Bank Market cover, and what was the market size in 2024?
In 2024, the Power Bank Market size was estimated at USD 18.48 billion. The report covers the Power Bank Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Power Bank Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Power Bank Industry Report
The global power bank market is experiencing significant growth, driven by the increasing adoption of smartphones, tablets, and other portable devices that require substantial battery power. This market growth is a result of consumers' heavy reliance on gadgets for various activities, leading to a high demand for high-capacity power banks capable of multiple charges. The industry analysis highlights that innovations by power bank manufacturers are meeting these needs with features like fast charging and compact designs.
The e-commerce sector is at the forefront of market segmentation, leveraging internet penetration to provide consumer convenience and access to a wide range of products. Additionally, there is a noticeable shift towards eco-friendly power banks that utilize renewable energy sources such as solar power, aligning with the growing environmental awareness and the needs of outdoor activities.
The Asia-Pacific region dominates the market due to its vast population and rapid digitalization, which intensifies the demand for electronic devices and power banks. The market overview indicates that the competitive landscape is highly dynamic, with numerous power bank companies striving for market dominance, fostering a highly competitive environment.
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In summary, the global power bank market is on an upward trajectory, driven by technological advancements and consumer demand. The industry outlook is promising, with continuous innovation and a focus on sustainability paving the way for future growth. For a more detailed market report, including industry statistics and market data, the report pdf from Mordor Intelligence™ is available for download. This report example offers a thorough analysis of the market trends and industry sales, providing a clear picture of the industry's current state and future prospects.