29 Feb 2016 02:02:53
Industrial/B2B Segment to Dominate North America Power Banks Market
The North America power banks market is expected to show notable growth in the coming few years. The growing number of blackouts and power outages in this region is driving the market for high capacity power backup solutions. According to the data for the period from 1984 to 2006 acquired from the North American Electric Reliability Council (NERC), the frequency of major blackouts in the U.S. has not reduced over time. Statistics show that there is a significant growth in blackout frequency at peak hours of the day, particularly during late summer and mid-winter months.
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This growing number of power outages in the North America region has in turn shaped the investment and policy decisions in the electricity industry. However, although the growing number of power outages is one of the primary factors driving the North America power banks market, there are several other factors that are expected to impact the growth of this market.
According to Transparency Market Research, the North America power banks market will expand at a CAGR of 18.6% during the forecast period from 2015 to 2022. Application-wise, the North America power banks market is classified into consumer electronics and industrial/B2B. The industrial/B2B segment dominated the North America power banks market in 2014 and held a share of 64.3%. This segment is projected to continue its dominance in the coming few years. During the forecast period, industrial applications, including resource extraction, healthcare, and foreign aid will record higher growth rates.
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Industrial/B2B was the largest end-use segment, accounting for 64.3% of the overall revenue of the power banks market in North America in 2014. The segment is expected to remain the dominant application segment in terms of revenue throughout the forecast period, witnessing strong growth especially in the first half of the forecast period. Over the forecast period from 2015 to 2022, industrial applications including healthcare, resource extraction, and foreign aid is expected to record higher growth rates, each expected to expand at a CAGR of approximately 19.3% over the forecast period. Power banks with capacities ranging from 20,000 mAh to 80,000 mAh accounted for the majority of the market revenue in 2014, and are expected to exhibit comparatively robust growth over the forecast period owing to collective demand from industrial and consumer spaces. In terms of product type, the power banks market in North America was dominated by the portable power banks segment in 2014. However, over the forecast period, their solar equivalents are expected to witness the highest growth, acquiring 42.1% of market revenue by 2022. The high-capacity power banks segment in North America is nascent. Major industry participants include Gridless Power Corporation, Goal Zero Corporation, Anker, Limefuel, LLC, Sony Corporation, and IEC Technology, LLC.