Asia Pacific Power Bank Market Forecast to 2028 - Regional Analysis - by Capacity, Battery Type, Indicator, and Application

The Asia Pacific power bank market is expected to grow from US$ 4,889.80 million in 2023 to US$ 11,933.02 million by 2030. It is estimated to grow at a CAGR of 13.6% from 2023 to 2030.

Increasing Penetration of Smartphones and Other Electronic Devices and Rising Power Outrage Problems Fuel Asia Pacific Power Bank Market

Wireless charging power banks offer the convenience of wirelessly charging compatible devices, eliminating the need for cables and adaptors. They provide a convenient solution for wireless charging-enabled devices on the go. The adoption of wireless charging technology has expanded across various device categories, including smartphones, smartwatches, and wireless earbuds. As more devices incorporate wireless charging capabilities, the demand for compatible power banks naturally increases. Wireless charging power banks enable users to charge multiple devices simultaneously, making them versatile and appealing to a broader range of consumers. Further, Wireless charging power banks often incorporate advanced safety features, such as temperature control, over-current protection, and short-circuit prevention, ensuring the safety of both the power bank and the connected devices.

Wireless charging eliminates wear and tear on charging cables, reducing the risk of cable damage and extending the overall lifespan of the power bank. These safety and durability aspects make wireless charging power banks an attractive choice for consumers. Wireless charging technology continues to evolve, offering faster charging speeds and improved efficiency. The introduction of Qi wireless charging standards has standardized compatibility across devices, which is further driving the adoption of wireless charging power banks. As advancements continue, wireless charging power banks are becoming more efficient, delivering faster and more reliable charging capabilities. As wireless charging becomes increasingly popular, the Asia Pacific Power Bank Market is witnessing intense competition among manufacturers. Many companies are introducing wireless charging power banks as part of their product offerings to stay competitive and cater to consumer demands. For instance, in October 2022, Stuffcool launched a 10,000 mAh power bank with 15 W wireless charging support. Therefore, with increasing innovation, developing new features, enhanced designs, and improved performance in wireless charging power banks is driving the Asia Pacific Power Bank Market.

Asia Pacific Power Bank Market Overview

Asia Pacific has a massive consumer market, including countries such as India, China, Japan, South Korea, and Australia. The region is known for its technological advancements and manufacturing capabilities. Many electronic manufacturers are based in the region, which has resulted in a wide variety of products being available to consumers. Major technology companies and research institutions in countries such as Japan and South Korea have contributed to innovation and development in the consumer electronic sector. In May 2023, Huawei launched new smartwatches, such as Watch Ultimate, Watch D, Watch Buds, and FreeBuds 5 earbuds. APAC has a high production rate of smartphones. Various companies in APAC are launching new smartphones with new features for customers. For example, in December 2022, brands such as Realme, Xiaomi, iQOO, and Moto unveiled new smartphones.

There is a rising health and fitness awareness trend in APAC. Consumers are becoming more conscious of their well-being and are adopting wearable devices and smartphones to monitor their physical activity, track vital signs, and manage their overall health. Fitness trackers and smartwatches with health-monitoring features have gained popularity among consumers. Also, the rapid growth of e-commerce and digital payment systems in APAC has made it easier for consumers to purchase electronic wearable devices and smartphones online. E-commerce platforms and online marketplaces have expanded access to a wide range of wearable devices, making them more accessible to regional consumers. The demand for power banks has been increasing with the rising penetration of wearable devices in APAC. Wearable devices and smartphones are designed to be compact and lightweight, which limits the size and capacity of their built-in batteries. As a result, the battery life of these devices may not be sufficient to last a full day of use. Power banks offer a convenient solution by allowing users to recharge their smartphones and wearable devices on the go, ensuring uninterrupted usage.

Asia Pacific Power Bank Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Power Bank Market Segmentation

The Asia Pacific power bank market is segmented into capacity, battery, indicator, application, and country.

Based on capacity, the Asia Pacific power bank market is segmented into 10001-15000 mAh, 15001-20000 mAh, above 20001 mAh, 5001-10000 mAh, and 1000-5000 mAh. 10001-15000 mAh segment held the largest share of the Asia Pacific power bank market in 2023.

Based on battery type, the Asia Pacific power bank market is segmented into lithium-ion battery and lithium-polymer battery. The lithium-ion battery segment held a larger share of the Asia Pacific power bank market in 2023.

Based on indicator, the Asia Pacific power bank market is segmented into LED Lighting and digital display. The LED Lighting segment held a larger share of the Asia Pacific power bank market in 2023.

Based on application, the Asia Pacific power bank market is segmented into smartphone, wearable devices, laptop, tablet, digital camera, and others. The smartphone segment held the largest share of the Asia Pacific power bank market in 2023.

Based on country, the Asia Pacific power bank market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. China dominated the Asia Pacific power bank market in 2023.

ADATA Technology Co., Ltd, Ambrane India Pvt Ltd, Anker Innovations Technology Co Ltd, ZAGG Inc, Aukey Technology Co Ltd, Intex Technologies India Ltd, Lenovo Group Ltd, and Xiaomi Corp are some of the leading companies operating in the Asia Pacific power bank market.