Power Bank Market Regional Analysis

The Asia-Pacific region dominates the global power bank market due to growing population and large scale digitization. The extensive adoption of smart-phones and tablets in emerging markets like China and India due to improvement in living standards and rise in income. The no. of smartphone users in China increased from 0.96 billion in 2020 to 1.03 billion in 2021.

The North America region is expected to witness a growth rate at 21.5% between 2022-2028 due to improved connectivity of various electronics devices/smart accessories. The countries where growth can be seen include the U.S, Canada and Mexico. According to research, in the U.S. There are 294.15 million smartphone users, of which, 85% of adults use smartphones. The USA has the maximum number of smartphone users in the region of about 274 million.

Europe region the market is growing at a prodigious rate of 23.6% due to rise in the utilization of the power banks because of the increasing acceptance of smartphones, laptops and other smart electronics. The UK, Germany and Russia dominate the market in that region.