Power Bank Market Set to Reach US$20.6 Billion by 2032, Driven by Multi-functional and Wireless Charging Innovation
Power Bank Market
The North America power bank market is set to grow at a CAGR of 8.5% through 2025, driven by the rising adoption of hybrid and remote work models in the U.S.
LONDON, LONDON, UNITED KINGDOM, February 24, 2026 /EINPresswire.com/ -- According to the latest study by Persistence Market Research, the global power bank market is poised for significant growth, projected to increase from US$12.4 billion in 2025 to US$20.6 billion by 2032. With a robust compound annual growth rate (CAGR) of 7.4% during the forecast period from 2025 to 2032, the market’s expansion is being driven by the rising demand for wireless and multi-functional models, such as Ambrane's AeroSync Quad and Xiaomi's Power Bank Lite Set. The widespread adoption of Qi2-certified wireless charging solutions, exemplified by Anker's MagGo Qi2 Slim 5K, is revolutionizing the industry by providing faster, more convenient, cable-free charging options. These advancements are shaping the future of the power bank market as consumer needs evolve.
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Surge in Demand for Wireless Charging Technology
Wireless charging is rapidly emerging as one of the most prominent trends in the power bank industry. Powered by Qi2-certified technology, this innovation is transforming the user experience by providing cable-free convenience. Power banks like Anker’s MagGo Qi2 Slim 5K enable consumers to charge their devices without needing a physical connection, enhancing the speed and ease of charging. As smartphones and other electronic devices increasingly support wireless charging, more users are seeking wireless power bank solutions for their convenience and speed.
This growing preference for wireless charging aligns with the demand for quick, efficient, and hassle-free charging, especially in a mobile-first world where time is of the essence. Additionally, the integration of wireless charging into power banks allows users to eliminate the mess of tangled cables, making wireless power banks a popular choice among tech-savvy consumers. The wireless charging trend is expected to continue to accelerate, further driving the growth of the power bank market.
High-Capacity Power Banks Gaining Popularity
As consumers rely more on mobile devices for work, entertainment, and communication, there is an increasing demand for high-capacity power banks. Power banks with capacities ranging from 8001 to 20000 mAh are gaining traction, offering the perfect balance of portability and power. These devices cater to users who require extended charging capabilities, such as business travelers, outdoor enthusiasts, and heavy smartphone users.
For those seeking to charge multiple devices simultaneously or maintain power for longer periods, power banks with even higher capacities (above 20000 mAh) are becoming more common. These units provide the necessary backup for longer trips or power-intensive devices, including tablets and laptops. As the need for reliable power sources grows, consumers are willing to invest in larger, more durable power banks that ensure they are never left without charge.
Solar-Powered Power Banks: A Sustainable Solution
Another rising trend in the power bank market is the growing popularity of solar-powered units. With increasing environmental concerns and a shift towards more sustainable practices, solar power banks are becoming a key player in the market. These eco-friendly devices allow users to harness solar energy, particularly in outdoor settings like hiking, camping, or during power outages.
Solar power banks are particularly attractive to consumers who need a reliable power source in remote areas where conventional electric charging might not be available. The inclusion of solar panels makes these devices more versatile and appealing to eco-conscious users. As technology advances, solar-powered power banks are expected to become more efficient, with the market seeing an uptick in adoption driven by their environmental benefits and off-grid charging capabilities.
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Lithium-Polymer Batteries Gaining Ground
Lithium-polymer (Li-Po) batteries are becoming increasingly popular in power banks due to their slim profile, lighter weight, and high energy density. Compared to traditional lithium-ion batteries, Li-Po batteries are more flexible in design, allowing manufacturers to produce thinner, more portable devices without sacrificing power. These batteries are also known for their stability and safety, making them an ideal choice for power banks that must balance power storage with portability.
The rise in demand for compact, lightweight power banks that do not compromise on performance is driving the shift towards lithium-polymer batteries. As consumer preferences evolve toward sleek, slim designs, Li-Po batteries will continue to dominate, providing a perfect fit for modern power bank users who value both form and function.
Expanding Online Sales Channels
As online shopping becomes the preferred method of purchasing electronics, the online distribution channel for power banks is experiencing rapid growth. E-commerce platforms like Amazon, Flipkart, and Alibaba make it easier for consumers to browse a wide variety of power bank options, compare features and prices, and read user reviews before making a purchase. This convenience is leading more consumers to opt for online purchases, bypassing physical stores in favor of better deals and greater selection.
The increasing preference for online shopping is also fueling competition among manufacturers, who must differentiate their products through marketing, pricing strategies, and customer support. In addition, online platforms offer consumers the added advantage of doorstep delivery and promotions, further driving the demand for power banks in digital marketplaces.
Market Segmentation
By Capacity Range:
Up to 3000 mAh
3001 to 8000 mAh
8001 to 20000 mAh
Above 20000 mAh
By Energy Source:
Electric
Solar
By Battery Type:
Lithium-ion
Lithium Polymer
By Distribution Channel:
Online
Offline
By Region:
North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa
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Key Players in the Power Bank Market
Anker Technology Co. Ltd.
Xiaomi Corporation
Samsung SDI Co., Ltd.
RAVPower (by Sunvalley)
AUKEY
Ambrane India Private Ltd.
ASUSTeK Computer Inc.
Lenovo Group Ltd.
Sony
Otterbox
Mophie
Philips
GoalZero
Baseus
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Ajaykumar Patil
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