The global Camping Power Bank Market is estimated to be valued at US$ 654.7 Mn in 2023 and is expected to exhibit a CAGR of 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Camping power banks are portable chargers used to charge electronic devices such as smartphones, tablets, laptops and other devices when a power source is unavailable. They come equipped with lithium-ion batteries that allow for multiple charges without needing to be recharged themselves. Key advantages of camping power banks include their compact size, light weight and long battery life of up to 5,000 mAh which allows users to charge their devices multiple times without needing an external power source. The growing popularity of outdoor activities like camping and hiking has fueled the demand for reliable portable power sources.
Market key trends:
One of the key trends in the camping power bank market is the increasing demand for higher capacity power banks with long battery life. Manufacturers are focusing on developing power banks with capacities as high as 30,000 mAh which can charge laptops and other large devices multiple times. Additionally, advanced battery technology like lithium polymer is enabling manufacturers to design compact power banks without compromising on capacity. Solar charging capability is another trend gaining popularity as it allows users to recharge power banks using solar panels, increasing battery life substantially. The adoption of fast charging technology that charges devices quickly using power delivery protocols like Qualcomm Quick Charge is also growing among outdoor enthusiasts.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as the capital requirement is lower to enter the camping power bank market. However, established brands have strong foothold in the market.
Bargaining power of buyers: The bargaining power of buyers is high due to presence of numerous established brands offering similar products at competitive prices in the global camping power bank market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are numerous raw material suppliers available globally.
Threat of new substitutes: The threat of substitutes is low as camping power banks offer unique proposition of portability.
Competitive rivalry: High competition exists in the global camping power bank market due to presence of numerous international and domestic players.
Key Takeaways
Global Camping Power Bank Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing outdoor recreational activities and popularity of camping.
The North America camping power bank market accounted for largest revenue share in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to presence of major players and high spending on outdoor recreational activities in the region.
Key players operating in the camping power bank market are Anker, Duracell, EcoFlow, Goal Zero, Jackery, MAXOAK, NEXPON, Omnicharge, ORYTO, OUTXE, Pisen, RavPower, Rockpals, Samsung, Suaoki, X-DRAGON, Zendure, RIVER, Crave, Intova. Key players are focusing on new product launches integrated with advanced technologies to gain competitive edge in the market. For instance, in 2021, EcoFlow introduced EcoFlow DELTA Mini portable power station providing 1000W output.
Read More- https://www.trendingwebwire.com/camping-power-bank-market-size-share-and-demand/
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