PORTLAND, Oregon, October 6, 2016 /PRNewswire/ --
A new report published by Allied Market Research titled, World Power Bank Market by Product Type, Battery Type, Power Rating, and Geography: Global Opportunity Analysis and Industry Forecasts, 2014-2022, projects that the power bank market size is expected to reach $44,424 million by 2022, growing at a CAGR of 15.4% from 2016 to 2022. This is attributed to the increase in demand & usage of mobile phone power banks as well as introduction of low-priced & advanced charging power banks. Asia-Pacific is expected to be the largest market during the forecast period.
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Summary of the Power Bank Market Report can be accessed on the website at https://www.alliedmarketresearch.com/power-bank-market
By product type, portable power bank industry holds the highest market share and solar power bank is the fastest-growing sub-segment. Since many countries in LAMEA, including Ghana, Uganda, and others have weak power grids, a rapid increase in the adoption of solar power banks is anticipated.
In the battery-type segment, it is anticipated that lithium ion battery would dominate the battery power bank market compared to the lithium polymer owing to higher energy density and higher cost-to-energy ratio. However, the lithium-polymer batteries are expected to have a faster growth rate than the traditional lithium ion batteries during the forecast period owing to more flexible form factor, lighter weight, and better safety as compared to lithium-ion batteries.
"Asia-Pacific is the most lucrative region for power bank market owing to the increase in manufacturing activities of power banks in countries such as China and Japan. Moreover, Asia-Pacific is a hub of several lithium battery manufacturers," states Sonia Mutreja, Lead Analyst, Semiconductor & Electronics at AMR.
LAMEA is estimated to be the fastest growing region due to an increase in the number of smartphone users coupled with a weak power grid in this region.
Key findings of the study:
The power bank market comprises dominant players such as Microsoft Corporation, Panasonic Corporation, Sony Corporation, and others that focus on product launch, R&D, and expansion as their key strategies to strengthen their position in the market.
Summary of Similar Reports can be viewed at: https://www.alliedmarketresearch.com/semiconductor-and-electronics/
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