Camping Power Bank Market is Estimated To Witness High Growth Owing To Increasing Popularity Of Outdoor Activities
Camping Power Bank Market is Estimated To Witness High Growth Owing To Increasing Popularity Of Outdoor Activities
Camping Power Bank Market

The Camping Power Bank Market is estimated to be valued at US$ 654.7 million in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
A power bank, also known as a portable charger or mobile charger, is a portable external battery that can be used to charge mobile phones, tablets, portable media players, and other portable electronics through a USB port. Camping power banks provide power to campings and other electronic devices when an AC outlet is unavailable or during power outages. They allow users to charge their phones multiple times on the go.

Market key trends:
One of the key trends driving the growth of the camping power bank market is the increasing popularity of outdoor activities such as camping, hiking, and picnicking. As outdoor activities require people to remain untethered to a power source for prolonged periods of time, camping power banks enable users to keep their phones charged while enjoying outdoor adventures away from home. In addition, frequent power outages and uncertainties in electricity supply have heightened the demand for portable charging solutions like camping power banks that can power devices in emergencies. The rising trend of digitization across industries has also led to increasing camping and phablet use, driving the need for mobile charging solutions.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate as the camping power bank market requires substantial R&D investment and infrastructure to develop new products.

Bargaining power of buyers: The bargaining power of buyers is high as camping power banks are commoditized and buyers have many supplier options.

Bargaining power of suppliers: The bargaining power of suppliers is low as there are many component manufacturers for camping power banks.

Threat of new substitutes: The threat of new substitutes is moderate as solar panels and fuel cells pose a potential threat.

Competitive rivalry: Intense.

SWOT Analysis

Strengths: Large brand recognition and R&D capabilities of key players. High demand for portable power solutions.

Weaknesses: Fluctuating raw material prices affect margins. Dependence on a few key customers for major revenue share.

Opportunities: Growing popularity of outdoor activities and eco-friendly products. Emerging markets offer significant untapped potential.

Threats: Trade barriers and regulations around lithium-ion batteries. Increased competition from local manufacturers.

Key Takeaways

The global Camping Power Bank Market Size is expected to witness high growth, exhibiting a CAGR of 12.3% over the forecast period, due to increasing participation in outdoor activities. The US dominates the North America region with a market share of over 80% in 2023.

Regionally, Asia Pacific is expected to grow the fastest over the forecast period owing to rapid urbanization, rising disposable incomes and growing popularity of outdoor recreational activities in countries like China and India.

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. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.

Read more @ https://www.insightprobing.com/camping-power-bank-market-driven-by-increasing-outdoor-activities-and-growth/

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