The Australia Power Banks Market, valued at around USD 177.52 million in 2023, is expected to grow significantly, reaching over USD 346.37 million by 2032. This growth is projected at a CAGR of over 7.65%.
The market’s growth is primarily driven by the increasing usage of portable electronic devices like smartphones and tablets, higher power consumption due to advanced technologies like 5G, and the need for power backup during power outages. The trend towards wireless charging power banks is also contributing to market growth.
The Australian power bank market is segmented based on capacity range, energy source, battery type, and distribution channels. This segmentation reflects the wide range of products available, catering to various consumer needs, from basic charging needs to advanced, high-capacity options.
Future growth is anticipated with the development of new battery technologies, including solar and hydrogen fuel cell-based power banks. Australia’s strategic role in the global battery supply chain, especially in mining essential battery metals like cobalt and lithium, is also expected to influence the market’s direction.