India Power Bank Market By Type (Lithium-ion & Lithium Polymer), By Capacity (Up to 4000 mAh, 4001 - 8000 mAh, 8001 - 12000 mAh & Above 12000 mAh), By USB Ports (One Port, Two Ports, & Three Ports & Above), By Distribution Channel (Online Vs. Offline), By Energy Source (Electric, Solar), By Price Range (Low, Mid-Range and Premium Range), By End User (Consumer Power Banks and Industrial Power Banks

The India Power Bank Market is expected to increase during the forecast period, owing the increasing usage of smartphones and tablets and reduction in the prices of power banks. The market growth might be restricted due to enhanced battery capacity of electronic devices.

Power Banks are portable devices that use circuitry to control any power in and power out for charging phones, cameras, laptop computers, etc. They are charged up using a USB charger when power is found at, and then used to charge battery powered items like mobile phones and a host of other devices that would normally use a USB charger. Power banks offer several benefits that include multiple sockets, compatibility to all brands and other gadgets, high charging capacity, low cost and usefulness during power interruptions.

Increase Demand for Solar and Hydrogen Fuel Cells based Power Banks

Energy, being the very crucial issue in today’s world, is transforming its shape from the non-renewable sources to various renewable sources because of the two issues using non-renewable sources. Among them, one is the deterioration of the environment and second is the fast consumption of non-renewable resources. Direct electricity is not the only source of power for power banks. Apart from electric power banks, various companies are manufacturing power banks, powered by solar and/or hydrogen fuel cells.

For instance, Uimi Technology Private limited and Elixier Tech Innovatis LLP, are among the market players that offer solar power banks. Solar power banks are an effective solution during power outages. Solar power banks are excellent solutions that utilize renewable sources of energy and can function without interruption. It does not contribute to environment pollution and is user-friendly. These factors are expected to increase the adoption of solar power banks.

Declining Prices of the Power Banks Drives the Market Growth

The existence of several competitors and the rising number of new market entrants make the Indian power bank industry a very competitive one. In order to boost their customer base and stay competitive in the market, businesses are lowering the prices of their power banks. Additionally, manufacturers are concentrating on incorporating new technologies into their power banks, which has resulted in lower power bank pricing, supporting the market's expansion in the upcoming years.

Rising Demand for Smartphones

There has been a huge boost from the Indian government to encourage smartphone companies to make phones in India. The government’s focus has been to make India a manufacturing hub and has taken various initiatives in this direction. The Production Linked Incentive (PLI) scheme for mobile handsets proved to be an accelerator for local manufacturing. Therefore, as the demand for smartphones in India has been increased as a result of local manufacturing, the demand for power banks has also increased.

Market Segments

Power Bank Market is segmented into by type, by capacity, by USB ports, by distribution channel, by energy source, by price range, by end user and by region. Based on Type, the market is segmented into Lithium-ion & Lithium Polymer. Based on Capacity, the market is segmented into Up to 4000 mAh, 4001 - 8000 mAh, 8001 - 12000 mAh & Above 12000 mAh. Based on USB Ports, the market is segmented into One Port, Two Ports, & Three Ports & Above. Based on Distribution Channel, the market is segmented into Online and Offline. Based on Energy Source, the market is segmented into Electric and Solar. Based on Price Range, the market is segmented into Low, Mid-Range and Premium Range. Based on End User, the market is segmented into Consumer Power Banks and Industrial Power Banks.

Market Players

India Power Bank Market players include Intex Technologies (India) Ltd., Xiaomi Technology India Private Limited, Lenovo (India) Private Limited, Zebronics India Pvt. Ltd., Ambrane India Pvt. Ltd., Philips India Limited, SSK Group, Portronics Digital Private Limited, Sony India Private Limited, Best It World (India) Private Limited

Recent Developments

• In 2019, government of India plans to reduce dependence on China in producing power banks. To achieve this, government plans to open a design hub in Noida for indigenous power banks and this will be run in collaboration with the Centre for Development of Advanced Computing.
• In April 2022, India is setting up a first of its kind standalone renewable battery power bank envisaging and investment of USD 246.6 million to make green available on tap for grid operators and DISCOM.