According to a new market report published by Credence Research, Inc., “North America High Capacity Power Banks Market (Exceeding 20,000 mAh) (By End-use Application (Consumer (Personal and Outdoor Applications), Industrial (Disaster Preparedness, Fire Rescue, Resource Extraction, Law Enforcement, Construction, Foreign Aid, Healthcare, Robotics, Events, and Other Applications)), By Product Type (Portable Power Banks, Solar Power Banks), By Power Rating (20,000 mAh – 80,000 mAh and Above 80,000 mAh)) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the high capacity power banks market in North America is expected to witness grow at a CAGR of 18.3% during the forecast period 2016 to 2023.
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The High Capacity Power Bank is a battery charging device used for charging a rechargeable battery or secondary cell with a high power rating. Demand for high-capacity power banks in North America is supported by rising power outages and blackouts that hinder overall output and profits in the industrial and commercial sectors. The need for uninterrupted power supply, coupled with the drive towards green energy products, is expected to support the demand for high-capacity power banks over fuel-powered generators in industrial applications.
Improved living standards, increased consumer disposable incomes and the evolving digital habits of consumers have provided a large base of consumers with two or more electronic gadgets operated by batteries, thus boosting demand for high-capacity power banks. The lack of awareness among end-users, coupled with the availability of established substitutes, has hindered the absorption of high-capacity power banks in North America.
The market for high capacity power banks is highly consolidated. The leading four manufacturers accounted for the major chunk of the North America market revenue share in 2015. In order to sustain and compete, manufacturers are required to focus on product enhancement and innovation. An established and robust distribution channel is requisite and manufacturers in the region are focusing on strengthening their marketing and distribution channels to improve product penetration and market position.
Since power banks are generally considered as a consumer product, the manufacturers must focus on positioning and marketing these products for industrial and commercial applications. Some of the leading and promising high capacity power bank manufacturers identified in the research study includes Goal Zero Corporation, Gridless Power Corporation, Limefuel LLC., Sony Corporation, Anker, and IEC Technology LLC among others.