Global Portable Charger Market Is Estimated To Witness High Growth Owing To Growing Use Of Smartphones And Reduction In Process Of Portable Power Banks

 

Portable Charger Market

Overview:

A Portable Charger is a rechargeable battery-powered power pack that extends the use of a mobile phone or other mobile device without the need for a power outlet. Also known as a power bank, pocket power cell, fuel bank or back-up charging device. It helps customers stay connected to friends and family and work even when they can't plug into an electrical socket. Portable chargers are useful for those who travel and spend a lot of time away from home or the office. They are great for airplane rides, where outlets are not always available, and road trips, where it may be difficult to find a place to charge a phone or tablet. There are many types of power banks on the market, with a wide variety of capacities and capabilities. Some of them are designed with a slim, compact profile for easy portability. Others are larger, with enough space to fit a laptop or some tablets. Most of them have an LED indicator light to show the state of charge. Some have a USB port for connecting a cable to a compatible mobile device, while others are made with a power inlet that supports alligator-clip cables.

Market Dynamics:

Rising product launches are estimated to augment growth of the global Portable Charger Market during the forecast period. For instance, a mobile accessories brand in India, Ambrane, expanded their lineup of mobile accessories, in August 2022. They have added wireless power bank Aerosync PB-10 to their product portfolio. Moreover, easy availability of low-quality power banks is anticipated to restrain growth of the global portable charger market during the forecast period.

Impact of COVID-19:

The pandemic impacted several industries globally. Governments had to impose strict regulations and lockdowns in many regions. This led to halting manufacturing activities and disruptions in supply chain. Many electronics manufacturing facilities were shut down in order to prevent the transmission of the virus. These restrictions affected supply chain of semiconductor market and also resulted in creating shortages of raw materials. This had a negative impact on the growth of the global Portable Charger Market. However, the market is estimated to witness growth in the post-pandemic era, as several restrictions have been relaxed.  All trade activities are resuming and business is finally gaining momentum.

Key Takeaways:

The global Portable Charger Market is expected to witness robust growth, exhibiting CAGR of 9.8 % over the forecast period, due to increasing acquisitions by key players. For instance, in May 2021, Xiaomi Group acquired a 50.09% stake in Zimi, for $205 million. Xiaomi already possessed49.91% stake in the company and this acquisition makes Zimi a fully-owned subsidiary of Xiaomi.

Asia Pacific is anticipated to witness robust growth in the global portable charger market during the forecast period, due to growing digitization, and rising penetration of e-commerce in the electronics sector.

Key players active in the global Portable Charger Market are Voltaic Systems, Anker Innovations, Panasonic Corporation, Sony Europe B.V., Sony Corporation, Xiaomi Technology, Accutronics Ltd., Voltaic Systems, Rizk National Industries LLC, Microsoft Corporation, Chengdu Khons Technology Co. Ltd., Belkin International Inc., Omnicharge Inc., ARD Accessories Pvt. Ltd., Platinet, Lzen Electronics, and Samsung SCI Co. Ltd.

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