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

The North America power bank market is expected to grow from US$ 3,054.52 million in 2023 to US$ 6,870.18 million by 2030. It is estimated to grow at a CAGR of 12.3% from 2023 to 2030.

Increasing Penetration of Smartphones and Other Electronic Devices and Rising Power Outrage Problems Fuel North America Power Bank Market

People are highly dependent on electricity for powering consumer electronics. Therefore, there is a need for constant and uninterrupted power supply. However, there is a surge in power outages worldwide due to changing weather conditions, storms, and aging power infrastructure. For instance,

• There is a rise in power outage cases in the US due to extreme weather conditions, storms, and snow in 2021. According to the Climate Central report in September 2022, 83% of power outages in the US between 2000 and 2021 were due to weather conditions such as wildfires and snowstorms.

Individuals and businesses seek alternative power sources to keep their smartphones, laptops, tablets, and other electronic devices functioning during blackouts. People want to ensure they have reliable power sources in case of unexpected power failures or during natural disasters. Therefore, the rising power outage issues are fueling the demand for power banks.

North America Power Bank Market Overview

The North America power bank market is segmented into the US, Canada, and Mexico. According to GSM Association, in 2021, it was estimated that the smartphone penetration rate in North America was around 81%. The association further stated that ~329 million people have subscribed to mobile services. Mobile continues to contribute to the economy, with mobile services and technologies generating 4.2% of GDP in North America in 2021. This high penetration rate can be attributed to various factors, including advanced telecommunications infrastructure, widespread internet access, and a high standard of living.

Smartphones have become an integral part of daily life for many people, serving not only as communication devices but also as tools for entertainment, productivity, and accessing various online services. With the increasing popularity of mobile applications and services, the demand for smartphones continues to grow. People spend more time on their phones, leading to higher battery consumption. Power banks offer a solution to extend the battery life and ensure uninterrupted smartphone usage. Therefore, with the increasing demand for smartphones, the production of power banks in North America is also increasing.

Various companies in North America are launching new power banks with different features. In October 2021, Omarco launched the world's smallest power bank (AirBank), a revolutionary, compact wireless power bank designed to adhere to the back of the smartphone through the power of suction cup technology. Omarco initially launched this power bank in North America and expanded the launch to Taiwan, Japan, and South Korea. Therefore, with the increasing penetration of smartphones, the demand for power banks across North America is anticipated to increase substantially.

North America Power Bank Market Revenue and Forecast to 2030 (US$ Million)

North America Power Bank Market Segmentation

The North America power bank market is segmented into capacity, battery, indicator, application, and country.

Based on capacity, the North America 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 North America power bank market in 2023.

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

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

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

Based on country, the North America power bank market is segmented into the US, Canada, and Mexico. The US dominated the share of the North America power bank market in 2023.

ADATA Technology Co., Ltd, Anker Innovations Technology Co Ltd, Lenovo Group Ltd, Sunvalleytek International Inc, Vinci Brands LLC, Zagg Inc., and Xiaomi Corp are some of the leading companies operating in the North America power bank market.