by Portable battery packs, also known as power banks, are portable charging devices that have built-in rechargeable batteries. They are utilized to charge smartphones, tablets, cameras, and other electronic devices wirelessly or through USB ports. Power banks deliver convenient emergency charging on-the-go for smart devices. The increasing use of smart devices such as smartphones, tablets, and portable gaming consoles along with the availability of high-speed internet via 4G and 5G networks has boosted mobile data consumption, draining battery life faster. This is prompting users to opt for power banks for charging purposes externally.
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.
The key opportunities in the Australia Portable Battery Pack (Power Banks) Market include increasing demand for portable chargers from youth and millennial population, rising sales through online retail channels, and growing popularity of solar-powered battery packs.
The portable battery pack market in Australia is anticipated to witness significant growth with global players expanding their footprint through strategic partnerships and collaborations with local distribution networks to leverage the vast lucrative opportunities in the region.
Market Drivers
The major driver propelling the Australia portable battery pack industry is the increasing adoption of smart electronic devices such as smartphones, laptops, tablets, and smart wearables. The growing dependence on these gadgets for day-to-day activities has augmented the need for portable charging devices among consumers. Additionally, the hectic schedules and busy lifestyles of Australian consumers are encouraging the sales of power banks to ensure connectivity and productivity even while travelling or commuting.
PEST Analysis
Political: The Australian government’s favorable policies regarding renewable energy and promotion of electric vehicles are driving the portable battery packs market. It aims to improve energy security and reduce dependence on fossil fuels.
Economic: Australians are increasingly adopting energy-efficient devices as disposable incomes rise. Portable battery packs supplement unpredictable power sources and help increase productivity while traveling for work or leisure.
Social: Younger generations are more environmentally conscious and inclined towards sustainable technologies. Portable battery packs support green lifestyles and enable extended usage of electronic gadgets without worrying about power sources.
Technological: Advances in battery chemistry, charging speeds and capacity allow portable battery packs to fully charge large devices multiple times. Dual and triple output USB ports along with wireless/QC charging standards enhance convenience. Lithium-ion packs are becoming safer and more durable.
Geographical Regions With Highest Market Value
More than 65% of the Australia portable battery packs market value is concentrated in densely populated coastal regions like Sydney, Melbourne, Brisbane and Perth. Higher disposable incomes, modern infrastructure and widespread internet access make urban residents strong adopters of portable battery packs.
Fastest Growing Geographical Region
Regional and rural Australia is expected to be the fastest growing region for portable battery packs market during the forecast period. Growing adoption of electric vehicles, solar panels and efforts to provide reliable power access will drive demand. Mobile workers engaged in agriculture, mining and construction frequently need portable battery packs to keep their tools and devices operational anywhere.
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?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Priya Pandey
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