U.S. High Capacity Power Banks Market

U.S. High Capacity Power Banks Market Overview

Power bank refers to portable batteries that are designed to recharge electronic gadgets. A power bank can be charged up when power is available, and then used to charge battery-powered items including mobile phones, headphones, portable speakers, MP3 players, tablets, cameras, gaming consoles, and laptops, among other gadgets. They store energy up to their maximum capacity and then release it when connected to a different device that needs recharging. The high capacity power bank allows faster charging, a higher number of charges, and charging of devices with a bigger battery such as tablets, iPad, gaming devices, among other rechargeable electronic items.

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Major U.S. High Capacity Power Banks Market Drivers

Rapid economic developments, along with the increased consumer purchasing power, are the major factors driving the growth of the electronic market, thereby propelling the demand of high capacity power bank market in the U.S. Additionally, the growing utilization of rechargeable devices across various sectors, including robotics, security, healthcare, entertainment, construction, general business, and consumer electronics, along with the increasing demand of better battery backup among consumers are further augmenting the market growth.

Increased adoption of tablets, mobile phones, phablets, and other portable consumer electronics gadgets is anticipated to fuel the demand of high capacity power bank market. Power banks enable battery powered items to be charged on the go and provide a very convenient and easy method of charging various devices such as smartphones, laptops, and other devices. This factor is anticipated to drive the growth of the market in U.S. during the forecast period. Moreover, various benefits of high capacity power banks that include operating for several hours while supplying power, useful during power interruption, charging multiple devices at once, portability, easily rechargeable are some other factors anticipated to escalate the growth of the market during the forecast period.

The presence of major electronics companies including Intel Corporation, IBM Corporation, The Hewlett-Packard Company, Zenith Electronics, LLC, Apple, Inc., Emerson Electric Co., Dell Technologies Inc., Cisco Systems, Inc. is stimulating the market growth in U.S. In addition to this, industry players are increasingly inclined towards investing heavily in R&D activities for the development of advanced, cost-efficient, light-weight, and wireless high capacity power bank products. The development of power banks that run on renewable sources of energy, followed by the growing adoption of green energy and increasing demand for high power efficiency in industrial applications, is anticipated to offer huge growth opportunities to the market. However, high output voltages, which can damage the battery of electronic devices and delay in the shipment and manufacturing of power banks due to the outbreak of COVID-19 are the factors restraining the market growth in the U.S.

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Based on the application, the market is segmented into consumer electronics application and industrial applications. The consumer electronics application segment includes personal use, emergency, marine, backpacking, hiking & camping, and other applications such as events, hunting, and fishing. Among the consumer electronics applications, backpacking, hiking & camping is expected to grow at a higher CAGR during the forecast period primarily due to the growing use of electronic gadgets including smartphones, digital hiking maps, digital cameras, rechargeable torches, and lamps during hiking and camping. Additionally, extensive usage of smart phones for clicking pictures, navigating with the help of GPS, hotel reservations, booking flights, renting cars, and other purposes, coupled with the huge consumption of battery in these activities are highly augmenting the demand of the power banks with high capacity. Moreover, high capacity power banks offer multiple charging cycles and provide charging of multiple devices at a time, which is another reason for the growth of the segment.

The industrial applications segment includes healthcare, robotics, law enforcement, security, construction, and other applications such as fire & rescue, resource extraction, event management, photography, and telecom utility. Among the industrial applications, healthcare segment is anticipated to grow at a faster CAGR during the forecast period. This is attributed to the increasing use of high capacity power banks for recharging portable medical devices, including powered medical carts &beds, medical delivery pumps & devices, portable ultrasound machines, digital x-ray imaging, handheld dental devices, blood analyzers, and remote patient monitoring systems. In addition to this, the expansion of the healthcare sector and growing demand for high performance of medical devices during an emergency situation or on the move are further propelling the growth of the high capacity power banks market in the U.S.

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Segments covered in the Report:

The U.S. High Capacity Power Banks market has been segmented on the basis of application into consumer electronics application and industrial applications. The consumer electronics application segment includes personal use, emergency, marine, backpacking, hiking & camping, and other. The industrial applications segment includes healthcare, robotics, law enforcement, security, construction, and other applications.

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Market Segmentation

U.S. High Capacity Power Banks Market by Application

• • Consumer Electronics
    • Personal Use
    • Emergency
    • Marine
    • Backpacking, Hiking, & Camping
    • Others
  • Industrial
    • Healthcare
    • Robotics
    • Law Enforcement
    • Security
    • Construction
    • Others