The Australia Portable Battery Pack (Power Banks) Market comprises power banks that can be used as an external source to charge small electronic devices like smartphones, tablets, portable media players and others wirelessly or with USB cables. Power banks available in the Australian market offer various charging capacities and come equipped with advanced lithium-ion batteries providing on-the-go power solution. These portable chargers are compact, lightweight and are an essential accessory for devices with batteries that do not last a full day of use. The convenience of instantly charging devices from power banks drives their demand.
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) Market are Anker Innovations, Xiaomi Corporation, Samsung Electronics Australia, Belkin Australia, Sony. Anker Innovations and Xiaomi Corporation hold a significant market share due to their wide product portfolio and competitive pricing.
The growing adoption of wireless devices has surged the demand for portable battery packs in Australia. Devices like smartphones, tablets, headphones, cameras and other portable devices require continuous power to support their extensive usage. Power banks provide uninterrupted power solution to such devices.
Expanding e-commerce platforms and online sales channels have enabled key players to penetrate untapped regional markets within Australia, driving the market growth. Additionally, vendors offer power banks integrated with advanced technologies like fast charging and wireless charging, further attracting consumers.
Market Key Trends
The rising adoption of wireless devices is a key trend in the Australia portable battery pack market. As devices become increasingly thinner and focus shifts towards more screen size and improved features, their battery life has reduced. At the same time, there is growing usage of portable devices for work, entertainment and connectivity purposes. This has generated significant demand for portable chargers that can be carried easily and provide battery back-up on-the-go. Power banks integrated with fast charging technologies have gained widespread popularity as they allow charging devices quickly.
Porter’s Analysis
Threat of new entrants: Low cost of production but high brand awareness and customer loyalty towards existing brands.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative component suppliers.
Threat of new substitutes: Threat of new substitutes is high due to technological advancement and product innovations.
Competitive rivalry: Intense competition due to presence of established players.
Geographical Regions
The Australia portable battery packs market is concentrated in region like Sydney and Melbourne. Majority of population resides in these cities with high disposable income and adoption of portable electronic devices.
The Asia Pacific region excluding Japan is the fastest growing region for Australia portable battery packs market. Countries like India, China and Southeast Asian countries are witnessing surge in sales of smartphones and other smart electronic devices driving the demand for portable battery packs in this region.
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?
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it