In 2013, Xiaomi launched its first-generation 10,400mAh power bank.
This power bank pioneered a unibody aluminum alloy design with a sleek silver metallic finish, featured imported battery cells, and was priced at just 69 yuan.
Upon release, it quickly became a sensation, with over 10 million units shipped in its first year.
For a time, other power banks rushed to imitate it — square and slim quickly became the standard design.
More than a decade later, power banks have once again evolved in diverse directions.
At first glance, you might be surprised:
Power bank, you look so unfamiliar now.
1.New Changes
What’s new with power banks today?
First, most power banks are getting smaller.
Looking across major brands, power banks are getting tinier and more compact.
Lipstick-sized power banks and capsule-style designs have taken over the market, moving far away from the traditional rectangular metal brick.
They now resemble everyday personal items — sleek, lightweight, and easy to carry around.
The most iconic is the lipstick power bank, first introduced by Anker. Shaped like a lipstick, it comes in various colors and boasts a high aesthetic appeal. It’s portable and can be carried around with ease, making it perfect for charging while shopping without any burden.
The capsule-style power bank is a tail-insertion type, meaning it directly plugs into the interface during use, making it almost invisible. You can hold your phone and move around without worrying about it getting in the way.
Secondly, some power banks are getting larger.
The small ones are portable, while the larger ones offer greater capacity.
To meet the needs of long-lasting and high-intensity use, some power banks are getting bigger to provide larger battery capacities.
These larger power banks are characterized by ample capacity, high power, and the ability to be held with one hand.
They offer three capacity options: 200W fast charge with a 25,000mAh capacity, 130W with 20,000mAh, and 100W with 12,000mAh. These can charge three devices simultaneously. The official claim is that they can charge up to 60% in just 30 minutes, making them particularly fast.
In recent years, with the rise of camping activities, users have developed a greater demand for higher capacity power banks.
As a result, some power banks continue to grow in size.
For example, the OUKITEL Portable Power Station has a massive 2048Wh capacity and 3600W max output, capable of powering up to 5 devices simultaneously, making it ideal for outdoor equipment.
These high-capacity, high-power mobile power stations can charge electronic devices like smartphones, laptops, and digital cameras, as well as drones, projectors, and smart speakers.
Next, power banks have incorporated cutting-edge technology.
In the past, many people viewed power banks merely as battery packs that could be used to charge devices via a cable.
Now, some power banks have integrated wireless charging technology, typically found in mid-to-high-end smartphones.
For example, power banks from brands like CUKTECH, Anker, and Ugreen use graphene materials for fast heat dissipation, ensuring that the magnetic charging remains cool in wireless mode, while also providing stable fast charging when using a cable, greatly improving user convenience and charging efficiency.
Some power banks have also integrated multiple functions, such as combining with phone stands or incorporating both the charging head and charging cable into one compact device.
In the past, power banks were just plain panels.
Now, power banks are equipped with display screens that can show real-time battery levels, battery health, and other relevant information, as well as allow users to make custom configurations.
The addition of a display screen provides users with intuitive device status feedback. In the current era of multi-device charging, the screen design enhances users’ sense of control.
Lastly, some power banks are now sold at high prices.
In general, power banks are usually priced around a few dozen yuan.
The modern large-scale industrial production system has significantly reduced the price of power banks.
However, in addition to those under 100 yuan, some power banks with larger capacities, wireless charging, multiple functions, and more aesthetically designed appearances are now being sold at high prices.
For example, the “Anker Prime 250W 27650mAh power bank” is priced at RMB 1199, and with the magnetic charging base, the total price exceeds RMB 2000.
A price of 2000 yuan breaks through the traditional price ceiling for power banks.
The continuous innovation in power banks has brought a sense of freshness to consumers.
2. New Trends
Why have power banks become so diverse in shape?
The main driver is market demand.
Where there is demand, there is a market, and where there is a market, there is supply.
Nowadays, most people rely on electronic devices such as smartphones, tablets, and laptops for work, study, and entertainment, leading to an increase in the number of personal devices and a deeper reliance on electronic products.
Taking smartphones as an example, in China, the average daily usage time of smartphones has increased from 63 minutes in 2014 to 328 minutes in 2024, with a compound annual growth rate of 17.9% over the past ten years.
The average daily smartphone usage time in China in 2014 and 2024.
The intensity of smartphone usage is increasing, and the battery gap is widening.
Power banks have become an instant solution to address the battery life issue of mobile devices. “Worrying about running out of battery” has become the biggest pain point for consumers.
As a result, although the power bank market may seem saturated, the market size in China continues to grow at an annual rate of 28%.
The growth in market demand leads to continuous upgrades in consumer needs.
Power banks need to be easily portable in pockets or bags, while also meeting the power requirements for travel and outdoor activities at any time and anywhere
Especially with the younger demographic of electronic consumers, new demands have emerged.
According to iiMedia Research, the primary consumer group for electronic products is young people, mostly between 22 and 40 years old, accounting for 82.5%.
Compact and stylish power banks are increasingly popular with the younger generation, quickly becoming “social must-haves.”
Overall, consumers expect power banks to be small in size, large in battery capacity, fast in charging speed, multifunctional, and safe.
Innovations in materials and technology have also provided continuous momentum for power bank development.
Breakthroughs in third-generation semiconductor materials (GaN, SiC) and the integration of Artificial Intelligence of Things (AIoT) technology with intelligent energy management have played a central role.
Gallium Nitride (GaN), with its high power density, low loss, and high-frequency characteristics, allows for efficient and fast charging while significantly reducing size.
Silicon Carbide (SiC), due to its high voltage, high power density, and high-temperature resistance, enables power banks to deliver strong charging capabilities even in a smaller form factor.
Power bank using Gallium Nitride (GaN) technology.
New batteries such as lithium polymer batteries also have advantages in energy density.
These new technologies and materials allow power banks to have strong performance while being smaller and lighter in form.
The integration of AIoT technology has brought revolutionary changes to the intelligent management and energy optimization of power banks.
Artificial Intelligence of Things (AIoT), by integrating artificial intelligence, the Internet of Things, and cloud computing technologies, enables real-time monitoring and intelligent regulation of the charging and discharging process, as well as full lifecycle management of the battery.
Its core value lies in dynamically adjusting the charging and discharging parameters through real-time data collection and algorithm optimization, effectively suppressing battery aging factors, and enhancing both the safety and durability of the energy storage system.
The integration of AIoT technology has comprehensively improved the intelligence level of charging infrastructure and has expanded into more fields.
As the market demands more adaptability in power sources for different scenarios, cross-industry integration and expansion into new application areas has become an inevitable trend.
Mobile power sources are no longer just tools for charging single devices; they have deepened their integration with smart homes, automobiles, healthcare, and other fields.
For example, “car power banks” can provide temporary power support when electric vehicles run low on battery during travel, helping the vehicle continue to drive to the nearest charging station.
In outdoor medical rescue, portable power sources can supply power to devices such as portable ECG machines and blood glucose meters, ensuring the normal operation of these devices.
The changing demands and advancements in technology are driving continuous innovation in power banks.
3. New Future
Research shows that the global portable power bank market was valued at approximately $3.29 billion in 2023, and is expected to reach $3.41 billion by 2030, with a compound annual growth rate (CAGR) of 1.2% from 2024 to 2030.
Charging is a basic need, but the growth rate of power banks is gradually slowing down, and the industry is entering a phase of competition within existing market shares.
The overall market size of power banks in China grew rapidly from about 124.28 billion yuan in 2018 to over 300 billion yuan in 2023.
As the market expands, more and more brands’ power banks are becoming similar in terms of design and basic functions.
Product homogenization has directly led to price wars, severely compressing profit margins and further hindering the stable development of the industry.
To stand out, it is necessary to invest more in technological innovation and expand differentiated competitive advantages.
This is the underlying logic behind the ever-changing forms of power banks.
Tech companies like Anker have already reaped the benefits of innovation.
The first power bank to sell over 100 million units was Anker’s “lipstick power bank.”
At that time, Anker realized that many power banks on the market were designed to be too bulky in order to ensure large storage capacity, making them inconvenient for women to carry. So, they designed a compact power bank based on the shape of a lipstick.
This power bank topped Amazon’s category sales for several years in a row, and soon other brands followed suit by launching even smaller power banks.
Consumer behavior is the most direct form of voting on product concepts.
Compared to the increasingly saturated domestic market, overseas markets offer much greater development potential.
Expanding abroad to seek growth is a common strategy for breaking the deadlock.
As a cross-border brand, Anker set its sights on international markets as early as 2011. From 2019 to the present, Anker has completed a global multi-category channel layout, with its business spanning 146 countries and regions.
According to its financial report, Anker’s revenue in 2023 was 17.507 billion yuan, with a net profit of 1.615 billion yuan. Overseas revenue accounted for 96%, and charging-related business revenue accounted for 49%.
Unlike Anker’s cross-border roots, UGREEN Technology successfully transformed from OEM manufacturing to a listed company.
Starting its overseas expansion ten years ago, today, UGREEN’s foreign markets have become key to its continued growth.
UGREEN’s success in overseas markets is attributed to its localization strategy, where the company adjusts its product strategies and promotional methods according to cultural differences and consumer needs in different regions.
ROMOSS, having been deeply involved in the industry for 12 years, has also achieved outstanding performance in overseas markets.
In South Africa, ROMOSS has topped the online market sales for five consecutive years; in the Philippines, ROMOSS products are also very popular, often becoming the top seller on platforms like Shopee and TikTok Shop.
A small power bank is also a big business.
Source：正解局
