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New product launches on the roll, power banks industry to grow significantly

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Power Bank

The advent of new technologies in consumer electronics and surge in penetration of internet services have raised the demand for smartphones, tablets, and other gadgets. The trend of digitalization has complemented the growth of demand. Due to the significant increase in usage of these gadgets, the demand for power banks has increased significantly. Technological advancements have made leaps with which market players have been offering power banks with the highest capabilities. In addition, two or three USB ports have been offered to the device, so that multiple devices can be charged. Another area in which the market players have made a leap is safety. They have included multiple protection layers for protection against short circuit, overvoltage, and others. The competition is heating up in the industry with tech giants and other players have been launching new products with advanced capabilities.

Leading companies have launched their new products and the competition is getting fiercer than before. Tech giants such as Xiaomi, Realme, and others have launched the products with different specifications and capacities. Xiaomi launched its Mi Power Bank 3 50W that supports fast charging of 50W. Supporting super flash charging, it has a battery capacity of 20,000mAh capacity. The striking feature of the device is two USB Type-A ports and one USB Type-C port, allowing three devices to charge simultaneously. This is equipped with the same cylindrical design language that the previous versions had. Moreover, the company also launched 30W Mi Charge Turbo wireless charging stand with an ergonomic vertical tilt design frame. It complies with Qi charging standards and contains a built-in fan for keeping everything cool inside. Its new air duct design offers faster heat dissipation.

In competition, Realme launched its power bank in India. It has a battery capacity of 10,000mAh and weight of 230 grams. It provides bidirectional fast charging of 18w. Equipped with USB Type-A and USB Type-C ports, the device enables multiple devices to charge. Moreover, 12 layers of circuit protection have been included. Commenting on the new launch, Madhav Sheth, the CEO of Realme India, outlined that its power banks with fast charging feature has its trademark design. It also imbibes the motto of the company, stays real.

Along with new products, companies have been offering innovative services. Charging stations have become omnipresent with the huge smartphone user base and massive adoption of mobile payments. Service providers have begun installing power banks at restaurants and cafes. The demand for power banks is ever-growing. According to the report by Allied Market Research, the global power bank market is expected to reach $19.40 billion by 2025. Following are some of the activities taking place in the industry across the world:

Not only the giants but also companies such as Anker and VingaJoy have also made its presence in the international market with their new products. Anker launches its PowerCore+ 26800 PD with a huge battery capacity of 26,800mAh. Boasting three outlets, two 15W USB-A ports and a 30W USB-C PD port, it can also charge a MacBook or a USB-C compatible laptop. The product comes with a compatible cable along with a 30W charger for charging the battery and other USB-C devices including phone, tablet, or laptop. In another news, VingaJoy launches VB-10090, a 10,000mAh power bank in India. Bosting two charging ports, it also weighs 170 grams. The new product has lithium polymer cells and can be fully charged in six hours with 2A wall charger. It has six-layer protection against voltage overloads, short circuits, and overheating and wrong insertion. Moreover, a digital display provides a battery indication. A flashlight can help during traveling. With the launch of power banks of the same capacities by Realme and Xiaomi, it will be interesting to see if the additional features of digital display and flashlight would be influencing factors for VingaJoy.

Along with offering new products, market players have been upgrading their products to suit the growing needs of customers. RAVPower, a leader in charging products, launched the upgraded version of 18W 20000mAh PB172 power bank. This upgraded version offers powerful 18W PD and QC outputs along with comprehensive safety features. In addition to short circuit protection, overcurrent protection, and over-discharge protection, the upgraded version provides NTC protection and MCU safety.

Determining the need for power banks and finding new streams for boosting revenue, China’s largest on-demand services provider Meituan Dianping plans to enter the power bank sharing business. The firm will offer an undisclosed number of power bank sharing stations across various parts of the country. However, the power banks will be having “Meituan Yellow” color scheme used in the logo of the company. The company abandoned the power bank sharing business due to lack of momentum with its other businesses. The power banks were rolled out in cafes and restaurants in various cities.

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