Power banks are mainly based on lithium-ion and lithium-polymer based batteries. It has been estimated that ~80% of power banks currently available in the market are based on lithium-ion based batteries. LG Chem Ltd. (South Korea) and Samsung SDI co. Ltd. (South Korea) among others are two such companies which provide lithium batteries for power bank.
Asia-Pacific accounted for a high market share of ~49% of the studied market in 2014 and is expected to maintain this trend during the forecast period. The power bank market in Europe is expected to account for a share of ~22% by 2020 and is expected to grow at a CAGR of 24.4% between 2015 and 2020.
Power Bank Market
Samsung SDI Co. Ltd. (South Korea) is involved in the development of lithium-ion batteries. It offers small sized and automotive batteries along with energy storage systems. It ventured into battery development in 2000 and has established itself as major company in the development of battery technology. Manufacturing execution systems have also been implemented by Samsung SDI so as to better manage the product quality and the process of automated battery manufacturing. The company manufactures batteries in countries such as South Korea, China, Malaysia, and Vietnam. Apart from batteries for other electronics devices, it also offers batteries for power banks. These batteries have the longest battery life and are considered to have superior safety and quality.
The power bank market is expected to grow at a high CAGR of 28.4% between 2015 and 2020. The market for power banks used in smartphones and tablets is expected to grow at a high CAGR of 24.2% and 22.9% respectively, between 2015 and 2020. Power banks with a capacity range between 9500mAh and 12499mAh account for a high market share; however, the market for power banks with a capacity range of more than 12499mAh is expected to grow at a high CAGR between 2015 and 2020. Asia-Pacific is expected to account for a major market share of ~43% of the studied market by 2020 and is expected to grow at a CAGR of 22.3% between 2015 and 2020.
LG Chem Ltd. (South Korea) provides lithium batteries for various electronics devices. Apart from batteries for power banks, it also provides batteries for devices such as smartphones, laptops, tablets, power tools, garden tools, e-bikes, digital cameras, power banks, vacuum cleaners, and wearable devices. The company started developing lithium-ion batteries in 1999 and later became one of the major companies in the battery business. LG Chem develops three types of batteries, that is, cylindrical, prismatic, and lithium-ion polymer. Prismatic and lithium-polymer are two batteries which are mainly used in power banks. Prismatic batteries provided by LG Chem are thinner in size and are available in various sizes and capacities for various applications. Lithium-polymer batteries tend to be thinner than prismatic batteries and are developed in various shapes such as stepped battery and curved battery. This has become possible by applying the ‘Stack and Folding’ technology, patented by LG Chem.
Other companies involved in the development of batteries for power banks include Sony Energy Devices Co. (Japan), LiPol Battery Co., Ltd. (China), and China BAK Battery, Inc. (China). These companies provide both lithium-ion and lithium-polymer based batteries for various applications which also include power banks.
