Portable battery packs, also known as power banks, are portable charging devices that allow users to charge their mobile devices such as smartphones, tablets, or other portable electronics on-the-go. Power banks are useful for people who use their device heavily and need an extra power boost during the day. They are available in various sizes and capacities to suit different user requirements. Power banks come equipped with lithium-ion polymer batteries that offer high energy density, long lifecycles, and safe recharging capabilities. The growing adoption of smartphones, tablets, and other portable devices along with hectic lifestyle of people are driving the demand for power banks in Australia.
The Australia Portable Battery Pack (Power Banks) Market is estimated to be valued at US$ 177.52 Mn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia Portable Battery Pack (Power Banks) are Anker Innovations, Xiaomi Corporation, Samsung Electronics Australia, Belkin Australia, and Sony. Anker Innovations dominates the Australia power bank market with a wide range of power banks at affordable prices. Xiaomi Corporation also has a strong presence in the country owing to its popular Redmi series smartphones which are complemented by power banks from the company.
The Australian power bank market offers significant opportunities for branded and generic manufacturers to expand their product lines. There is high demand for power banks with higher battery capacities of over 20,000mAh, fast charging capabilities, lightweight designs for frequent travelers, as well as multiport models that can charge multiple devices simultaneously.
Several power bank companies are focusing on global expansion strategies and see Australia as an attractive market. Xiaomi Corporation aims to increase its retail footprint across the country. Anker is widening its product portfolio beyond basic power banks to wireless chargers and audio products. Belkin is expanding its retail presence through partnerships with major electronic stores. Sony also eyes growth through its high-end power bank models targeted towards tech-savvy users.
Market Drivers
The proliferation of smartphones, tablets, and portable devices that require frequent charging is a key driver boosting the Australia power bank market. According to recent data, over 80% of Australians own a smartphone. The intense usage of such devices for checking social media, online video streaming, gaming etc. spurs demand for portable chargers. Additionally, the busy lifestyles of modern Australians leave little time for fixed charging solutions at home or office, making power banks indispensable.
Market Restraints
Availability of low-quality fake and uncertified power banks poses a restraint for the Australia power bank market. Such counterfeit replicas are not only unsafe but also tarnish the reputation of established brands. Strict compliance with product quality standards increases costs for reputed manufacturers initially and adversely affects pricing competitiveness. Additionally, price-sensitive consumers may opt for inferior counterfeits over genuine models, posing a revenue restraint. Mandatory adoption of certified inputs and production processes could help address this challenge.
Segment Analysis
The Australia Portable Battery Pack (Power Banks) Market is dominated by portable chargers with USB ports. Portable chargers with multiple USB ports allow charging of multiple devices simultaneously which is very convenient for users. They held around 45% of the market share as many people nowadays own more than one portable electronic device like smartphone, smart watch, earphones etc. and need to charge them when away from access to power outlets. Portable battery packs with quick charge technology is another fast growing segment. They come with advanced charging technology that reduces charging time significantly. People prefer them to charge phones quickly in emergency situations.
Global Analysis
The Asia Pacific region is the fastest growing as well as the dominating region in the Australia portable battery pack market. Countries like Australia, India and China have seen rising disposable incomes and adoption of portable electronic devices is higher in this region. High dependence on smartphones and other battery operated items for communication, entertainment and work makes people more inclined to purchase portable chargers. North America follows APAC in terms of market share due to developed economies, high awareness and frequent outdoor activities there that require portable power sources. However, growth rate is higher in developing Asian markets. Key players focus on these regions through varied pricing and customization as per regional preferences to grab more shares.
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What Are The Key Data Covered In This Australia Portable Battery Pack (Power Banks) Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Portable Battery Pack (Power Banks) Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Portable Battery Pack (Power Banks) Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Portable Battery Pack (Power Banks) Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Portable Battery Pack (Power Banks) Market vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Portable Battery Pack (Power Banks) Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Portable Battery Pack (Power Banks) Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Portable Battery Pack (Power Banks) Market’s distributors, traders, and dealers?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it