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Portable Chargers Market Report
Portable Chargers Market Trends, Dynamics & Market Insights
The Portable Chargers Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of xx% during the forecast period.
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A portable charger is a gadget that energizes or charges a battery. It is also known as a power bank, which is a reusable battery that can be charged over and again for a few utilizations. A portable charger is mainly used to deal with frequent discharging of batteries while outing, traveling, or in the office.
Key players operating in the portable chargers market are-
Enhanced consumer purchasing power, rapid economic growth, and improved living standards are some of the key factors augmenting market growth. Also, the easy availability of such devices with varied capacities boost product consumption. Moreover, the surge in the demand for tablets, smartphones, and other digital devices results in a surge in the demand for portable chargers. In addition, innovative developments in convenient chargers, such as remote versatile chargers offer immense growth opportunities to the market players.
Based on application, the portable chargers market is categorized into mobile phones, digital cameras, MP3&MP4 devices, automotive, laptops, and others. The mobile phones segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. The wide use of data and internet services over mobile phones is likely to drain the battery power rapidly. Also, smartphones are largely equipped with batteries having a short life, which further bolsters the segment growth.
By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years. This is mainly ascribed to the strong presence of consumer electronics and product manufacturing companies in South Korea, China, Taiwan, and Japan. Also, the increasing number of smartphone users in various countries of the Asia Pacific region is, further proliferates the regional market growth.
The COVID-19 outbreak has moderately affected the portable chargers industry. The smartphone industry, which is one of the key consumers of portable chargers, is disturbed due to the COVID-19 pandemic. The shutdown of manufacturing facilities has resulted in a halt in smartphone production, and decreasing consumer expenditure and reduced movement of people outside their houses has affected the demand for portable chargers.
Here is the list of the group of customers that the portable chargers market hopes to have the greatest opportunity to convert-
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Anker Innovations (China), SONY EUROPE B.V. (UK), Accutronics Ltd. (UK), RIZK NA-TIONAL INDUSTRIES LLC. (US), Chengdu Khons Technology Co. Ltd. (China), Omnicharge Inc. (US), Platinet (Poland), SAMSUNG SDI CO. LTD. (South Korea), Lzen Electronics (India), and ARB ACCESSORIES PVT. LTD. (India) are among the key players in the portable chargers market.
Enhanced consumer purchasing power, rapid economic growth, and improved living standards are the factors driving the growth of portable chargers market.
The mobile phones segment is expected to register a healthy CAGR in the portable chargers market in the coming years.
Asia-pacific is expected to grow at the highest CAGR in the portable chargers market during the next five years.
Portable chargers vendors, Portable chargers retailers, Power bank companies, Consumer electronic companies are the target audience in the portable chargers market.
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