Power Bank Market Size, Share & Industry Analysis, By Type (Universal, Solar-powered, and Wireless), By Battery Type (Lithium-Ion Battery and Lithium Polymer Battery), By Battery Capacity (Below 5,000 mAh, 5,000-19,999 mAh, and 20,000 mAh and Above), and Regional Forecast, 2025-2032

The global power bank market size was valued at USD 14.74 billion in 2024. The market is projected to grow from USD 15.56 billion in 2025 to USD 23.64 billion by 2032, exhibiting a CAGR of 6.15% during the forecast period. Asia Pacific dominated the power bank market with a market share of 43.89% in 2024.

A power bank is a built-in portable battery that stores energy in chemical form through an exterior power supply such as a wall socket. These products are rectangular and slim in shape and are used to recharge battery-powered electronic items, such as earphones, smartphones, and tablets. These products have Universal Serial Bus (USB) ports for universal compatibility, and a few of them also have wirelessly charging capabilities. Furthermore, the increase in availability of high-capacity options with various ports to charge multiple devices simultaneously has attracted the large consumer base.  The increase in popularity of adventure activities, travel & tourism, and hybrid working models globally drives the product demand.

Prominent players such as Xiaomi, Lenovo, and SAMSUNG are continuously indulging in launching new & innovative products and opening new retail stores to remain competitive in the market. For instance, in April 2023, Samsung, a South Korea-based manufacturer, announced it to set up 15 premium experience stores across India by 2023. The new stores will come up at various locations such as Chennai, Kolkata, Pune, Mumbai, and Delhi.

• Asia Pacific witnessed power bank market growth from USD 6.11 Billion in 2023 to USD 6.47 Billion in 2024.

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Global Power Bank Market Snapshot & Highlights

Market Size & Forecast:

• 2024 Market Size: USD 14.74 billion
• 2025 Market Size: USD 15.56 billion
• 2032 Forecast Market Size: USD 23.64 billion
• CAGR: 6.15% from 2025–2032

Market Share:

• Asia Pacific dominated the power bank market with a 43.89% share in 2024, driven by increasing smartphone penetration, mobile gaming, hybrid work models, and rising travel & tourism across countries like China, India, and Indonesia.
• By type, universal power banks are expected to retain the largest market share in 2025 due to their cost-effectiveness, wide compatibility, and growing demand in developing countries.

Key Country Highlights:

• United States: Growth driven by high adoption of mobile devices, remote working, and fitness-tracking wearables. Compact and fast-charging options are in high demand, particularly among professionals.
• China: A major manufacturing hub and high-growth consumer market. Local players like Xiaomi and Anker are driving innovation in high-capacity and wireless products.
• India: Rising mobile usage, 5G rollout, and e-commerce growth are fueling strong demand, especially in the under-20,000 mAh category. Domestic brands like Intex are leveraging social media marketing to expand reach.
• Germany: Demand is supported by outdoor activities like hiking and camping. Consumers are favoring multi-port, durable, and eco-conscious power banks.
• Brazil: Increasing smartphone adoption, urbanization, and rising disposable income are accelerating demand for portable charging solutions in South America.

MARKET DYNAMICS

Market Drivers

Increasing Adoption of Smartphones and Tablets Globally to Fuel Market Growth

The surge in disposable income, rise in internet penetration, availability of budget-centric smartphones, and the increase in the development of telecom infrastructure, especially in developing countries, have increased the number of smartphone users. Increase in secured digital transactions, e-commerce shopping, and the rise in social media platforms has also enhanced the sales of smartphones across the globe. These factors collectively contribute to the market growth.

Furthermore, the rise in availability of features, such as high-resolution cameras, mobile handsets with built-in projectors, voice-activated assistants, and wireless battery chargers in both smartphones and tablets, results in high consumption of batteries, which directly resulted in enhancing the demand for products.

According to the GSM Association, till October 2023, around 54% of the global population owned a smartphone, and by 2027, it is estimated that there will be 8 billion smartphone connections and 6 billion unique mobile subscribers. Thus, the rise in smartphone adoption, along with the increase in internet penetration and surge in mobile gaming globally, resulted in a fast battery drain, driving the global power bank market growth.

Increasing Participation in Outdoor Activities to Propel Market Growth

The increasing participation in outdoor activities, such as trekking, hunting, camping, and fishing, triggers product demand, as it allows individuals to charge their electronic devices, such as smartphones, tablets, earphones, cameras, and GPS units, where access to electricity is limited. Furthermore, the availability of water-resistant and high-power batteries, along with the ability to replace the batteries and use them in compatible devices, provides more options and protects the environment by reducing electronic waste. Thus, the increase in the number of individuals participating in outdoor activities favors market expansion.

MARKET RESTRAINTS

Growing Trade of Counterfeit Products to Restrain Market Growth

The surge in the availability of fake or counterfeit products has become a major issue in the market. These counterfeit products are manufactured by using low-quality components that lead to unstable power output, resulting in severe damage to tablets, smartphones, and other connected devices. Furthermore, these counterfeit devices are marketed to appear similar to trusted brands, but they lack safety and quality features of genuine products, which leads to diminishing the brand image of the original product, declining sales, and affecting customer loyalty. Thus, the growing availability of fake or counterfeit products, especially in developing regions, restricts the growth of the global power bank industry.          

MARKET OPPORTUNITIES

Surge in Technological Advancement Level to Favor Market Expansion

The increase in technology levels, such as the wireless charging revolution, high-capacity options, solar-powered products, and integration of smart technology in products, triggers product demand in the market. In addition, the evolution of ultra-fast charging technology, such as USB-C Power Delivery (PD) and Qualcomm Quick Charge, has resulted in elevating the voltage of a charge without overheating the USB cable. Furthermore, products with USB-C PD can supply up to 100W of power to charge smartphones, tablets, and laptops. The Qualcomm Quick Charge can charge devices from 0% to 50% within 5 minutes with power outputs of up to 100W. Thus, the rising technological advancements in battery life and the increase in the availability of wireless products accelerate product sales globally.

MARKET CHALLENGES

Strict Government Rules and Regulations Related to Manufacturing Power Banks to Limit Market Growth

The stringent government rules and regulations for producing power banks result in diminishing innovation, enhancing cost, increasing marketing expenses, decreasing investment in research and development, and also declining the profit margin of the manufacturers. Furthermore, the continuous change in export and import policies and high taxation rules increase the cost of the product and result in pushing customers toward substitute products, which directly hampers product sales as well as market growth.

IMPACT OF COVID-19

The outbreak of the COVID-19 pandemic adversely affected the market. The implementation of lockdown measures, import and export restrictions, lack of workforce, disruption of the supply chain, shipping delays, and closure of retail outlets hampered the global market. Furthermore, the market began rising gradually in 2021, as governments across the countries initiated removing restrictions, which resulted in the enhancement of the production line.

SEGMENTATION ANALYSIS

By Type

Universal Power Banks Lead the Market Due to their Higher Adoption in Developing Countries

Based on type, the global market is segmented into universal, solar-powered, and wireless.

The universal segment dominated the market with a share of 60.21% in 2024. Universal versions, also known as standard power banks, are cost-effective and are designed to charge multiple devices simultaneously. The rising adoption of these variants in developing countries, such as India, Brazil, China, Thailand, and Vietnam, drives the segment’s growth.

The wireless segment is projected to grow with the highest CAGR over the forecast period. This type of portable product charges the phone without using a chord and is attached to charging coils to create an energy source and a battery to store power. Furthermore, these wireless products enable fast charging of devices, such as smartphones and tablets, thus enhancing user convenience.

• The universal segment is expected to hold a 60.36% share in 2024.

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By Battery Type

Lithium-Ion Batteries to Take the Lead in the Market due to Their High Battery Life Feature Over their Counterparts

Based on battery type, the market is bifurcated into lithium-ion battery and lithium-polymer battery.

The lithium-ion battery segment is predicted to dominate the global market with a market share of 72.20% during the forecast period. These batteries have a longer battery life, which makes them suitable for charging various devices multiple times. Furthermore, lithium-ion batteries have a low self-discharge rate, which enables them to retain their charge for longer periods.

The lithium-polymer battery segment is projected to grow with the highest CAGR of 7.19% during the forecast period (2025-2032). This battery is available in various shapes & designs, and it is lighter in weight as compared to other batteries. Furthermore, lithium-polymer power banks are compatible with various devices, including smartphones, earphones, and laptops.

By Battery Capacity

5,000-19,999 mAh Segment Dominates the Market Owing to the Increase in Adoption of High-Speed Charging Power Banks

Based on battery capacity, the market is segmented into Below 5,000 mAh, 5,000-19,999 mAh, and 20,000 mAh and Above.

The 5,000-19,999 mAh segmentis expected to hold the highest market share of 56.72% over the forecast period (2025-2032). The rise in awareness regarding the high-speed charging power bank for multiple devices such as smartwatches, tablets, and smartphones fuels the segment's growth. Furthermore, the increasing adoption of new products launched by manufacturers globally boosts product demand. For instance, in December 2024, Anker Innovations Co., Ltd., a China-based company, announced the launch of a 10000 mAh MagGo Power Bank 10K A1654 cum portable wireless charger in India. It is available in three colors: green, black, and blue.

Below 5,000 mAh segment is proposed to grow with the highest CAGR of 5.80% during the forecast period (2025-2032). The products in this category are lightweight, portable, and cost-effective. Furthermore, the availability of wireless products under this battery capacity fuels the segment's growth.

POWER BANK MARKET REGIONAL OUTLOOK

Geographically, the global power bank market analysis covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Asia Pacific

Asia Pacific dominated the global market with a valuation of USD 6.11 billion in 2023 and USD 6.47 billion in 2024. China is expected to expand with a valuation of USD 2.36 billion in 2025. The rise in adoption of smartphones, the growing consumer shift to remote work & learning, increasing mobile gaming, and the surge in advancement in internet penetration in countries such as China, India, Indonesia, and Thailand fuel the market growth. According to the GSM Association, in 2022, smartphone adoption in the Asia Pacific region was 76%, and it is projected to reach 94% by 2030. Thus, the rise in internet penetration in the region and the increase in mobile gaming by consumers, resulting in the fast drain of smartphone and tablet batteries, directly fuels the demand for power banks. India is set to be worth USD 0.89 billion in 2025, while Japan is expected to reach a market value of USD 1.77 billion in the same year.

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North America

North America is the third leading region and is predicted to reach a market value of USD 2.71 billion in 2025. The region is projected to grow with a considerable CAGR during the forecast period. The increase in popularity of mobile gaming in North America accelerates the sales of products that can provide a long-lasting power source. The increase in adoption of wearable technologies amongst consumers, majorly fitness-tracking devices, drives the product demand in the region.

The U.S. is the most prominent country in the North American region, owing to the increase in the availability of fast-charging, compact, and portable options. Furthermore, the rise in the use of mobile devices for professional work purposes has enhanced the demand for high-capacity products. The U.S. market is likely to hit USD 2.22 billion in 2025.

Europe

Europe is the second largest market and is expected to hit USD 4.11 billion in 2025, exhibiting a CAGR of 7.08% during the forecast period (2025-2032). Europe is expected to grow with a considerable CAGR over the forecast period. The U.K. market continues to expand, projected to acquire USD 0.58 billion in 2025. The surge in European consumers' use of tablets, smartwatches, earphones, and laptops triggers the product demand. The increase in participation of individuals in outdoor recreation activities such as rock climbing, camping, cycling, and hiking has also enhanced the demand for durable, multiple charging ports and high-capacity battery products. Germany is expected to gain USD 0.75 billion in 2025, while France is set to be valued at USD 0.48 billion in the same year.

South America

South America is the fourth leading region, estimated to be valued at USD 1.13 billion in 2025. The region is growing at a steady rate owing to factors such as a growing disposable income, a rise in smartphone & tablet users, increasing urbanization, and a rising standard of living. The increase in government investment in improving mobile infrastructure and the rise in internet penetration in countries such as Peru, Argentina, Columbia, and Brazil drive the market growth.

Middle East & Africa

Middle East & Africa is projected to grow with a substantial CAGR during the forecast period. The easy availability of the product on online and offline platforms such as brand outlets, hypermarkets, specialty stores, and department stores fuels product demand. Furthermore, the rise in social media advertisement by manufacturers also results in increasing consumer reach and brand visibility. The UAE market in this region is anticipated to acquire USD 0.13 billion in 2025.

COMPETITIVE LANDSCAPE

Key Industry Players

Key Players Focus on Geographic Expansion to Strengthen Their Market Presence

The rise in competition among key players, such as Anker Innovations Co., Ltd., AUKEY Official, and ZAGG Inc., has encouraged them to leverage their strong brand loyalty & presence and product reach to stay ahead of the competition. These prominent players are focusing on launching new product offerings, acquisitions, partnerships, and enhancing product reach to remain competitive in the global market.

LIST OF KEY POWER BANK COMPANIES PROFILED

• Xiaomi (China)
• Koninklijke Philips N.V. (Netherlands)
• Lenovo (China)
• Intex Technologies (India)
• Sony Group Corporation (Japan)
• ADATA Technology Co., Ltd. (Taiwan)
• Sunvalley Group (RAVPower)
• BBK Electronics Corp. Ltd. (Realme) (China)
• ZAGG Inc. (mophie) (U.S.)
• AUKEY Official. (China)

KEY INDUSTRY DEVELOPMENTS

• December 2024 - Stuffcool, an India-based manufacturer of consumer electronic products, announced the launch of Roam Power Bank. This product is 11cm tall and 7cm wide, and it has a 10,000 mAh battery capacity with a Type-C 20W PD port.
• December 2024 - Xiaomi, a China-based consumer electronics manufacturer, announced the launch of an 18W power bank with a battery capacity of 30,000 mAh in the European market. The product can charge three devices simultaneously via USB-A and USB-C ports.
• February 2023 - Ubon, an India-based manufacturer of neckbands, power banks, speakers, smartwatches, and headphones, announced the launch of the Ubon PB-X35 transparent power bank with a 10000 mAh battery capacity. The product has twin charging connectors (TypeC/V8) and a 2.0A output charging port. 
• January 2023 - Urbn, an Indian manufacturer of consumer electronics, announced the launch of MagTag magnetic power banks. This product comes with 5,000 mAh and 10,000 mAh battery capacity, and they are available in blue, black, and purple color variants.
• January 2023 - Ambrane India Pvt Ltd., an India-based manufacturer of consumer electronics products such as smart wearables, power banks, mobile accessories, audio, and grooming, announced the launch of a Stylo Boost power bank with a 40000 mAh battery capacity. The product contains a 65W ultra-fast charge output, which is capable of charging both laptops and smartphones.

REPORT COVERAGE

The power bank market report provides a detailed market analysis. It focuses on key aspects, such as competition landscape, companies market share, market dynamics, regional analysis, type, battery type, and battery capacity. Besides this, it offers insights into various market trends and highlights key industry developments. In addition to the factors mentioned above, the market research report encompasses several other factors that have contributed to the growth of the market in recent years.

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Report Scope & Segmentation