Power Bank Rental Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

The global power bank rental market is projected to reach USD 9,378.5 million by 2030. The power bank rental industry consists of companies that rent or lease power bank to consumers on hour-term, day-term or rent-to-own basis. The number of companies in the power bank rental (PBR) has increased rapidly over the past five years, partly reflecting growing consumer interest in power bank on rent services. Since the early 2017s, the power bank rental has been one of the fastest growing sub-sectors of the sharing economy market.

Increasing disposable income, growing glueyness of users to their smartphone and unwillingness to carry their power bank are some of key factors driving the growth of power bank rental market. Since 2014, more than 150 startups are founded to rent power banks across the globe. Also, the rising adoption of new smartphone technologies including 5G and increasing smartphone usage intensity is also anticipated to further increase demand for power bank rental services.

Millennials and Generation Z are major consumers of power bank rental as a service owing to their high usage hours of smartphone and willingness to pay for power bank rental service. This makes India and China one of the most lucrative countries for power bank rental service. In addition to this, increasing number of working youths, and rising urbanization are supporting the growth of power bank rental as a service in India and China market.

China held the largest share of the power rental market in 2021 and is projected to grow at 52.7% from 2022 to 2030. The growth of the power rental market in the region is driven by the increasing dependency on smartphones. The performance of the China market is forecast to follow a similar pattern with an anticipated CAGR of 41.3% for the five- year period 2022-2030, which is expected to drive the market to a value of USD 8.3 billion by the end of 2030. Comparatively, the US and European markets will grow with CAGRs of 80.5% and 63.0% respectively, over the same period.  In 2022, this market felt the colossal impact of the COVID-19 pandemic. The various travel restrictions and lockdowns implemented across the world in the wake of COVID-19 have had a serious impact on the power rental industry. However, it got back to recovery by end of Q2 2021. 

The power bank market is highly competitive, with both big and small players present in the market. This segment studies growth strategies adopted by the market players to expand their global presence and increase their market share. Product launches & developments, and partnerships are among the major strategies adopted by market players to achieve growth in the power bank market. The key players contributing to the power rental market are Xiaodian, Energy Monster, Laidian, RedShare, ChargedUp, Powerqube, PowerNow, Spykke, A3Charge, among others. Leading companies are engaged in fierce competition to increase and protect their market share.

Rivalry should tensed throughout the forecast period because the number of power bank for rental and locations is expected to continue growing more fastly than market value, meaning margins will be under much pressure. However, projected high economic growth of China and India might ease rivalry.

Prior to the pandemic, consistent revenue growth enticed new entrants to enter the industry, while the industry's operators significantly expanded their overseas footprints. For example, Brezze, a Singapore based power bank rental company, expanded their footprints in United States.

POWER BANK RENTAL INVESTORS

Power bank rental startups investment and development are funded in a variety of ways. Passive capital investors such as institutional or angel investors – mainly sharing economy investors - are typically less dependent on the debt markets and primarily obtain investment with equity from their clients. In the case of power bank rental, many investors have created dedicated funds from which ‘seed capital’ is drawn to leverage further investment in large-scale programs. Some investors have not created specialist sharing economy funds but have funds also used for promising and high growth startups. Some investors are looking at power bank rental as a hot vertical and investing significantly. An example of this is investors in China has invested USD 174 Million within 40 days in 2017. Mostly, however, investors are funding in Seed A and Seed B, and forward fund entire to power bank rental developments. Through investing, investors are forming relationship with power bank rental startups in order not to be left out of sharing economy investment opportunity.

From 2016-17, the ‘first wave’ of investment management companies in China includes those such as; Sequoia Capital, Banyan Capital, IDG, Sunwoda, Light Speed China Partners, SIG, and Redpoint Ventures. Since then, the growth potential of the China power bank rental continues to attract many new market entrants, primarily from Asia but also North America.

REPORT DESCRIPTION

Power bank rental report provides market analysis of this industry including market drivers, key players, industry structure and dynamics, business strategies for success, and threats or opportunities. This report also covers investment in power bank rental and list of leading & potential investors. It also offers market share analysis of leading companies in power bank rental industry.

This report focuses on the power bank rental sector (PBR) – which encompasses the supply and demand for power bank at market rents. These are provided by at various locations which includes:

·         Cafes and Restaurants

·         Bars and Clubs

·         Retail and Shopping Centers

·         Commercial Spaces

·         Other venues

We have excluded power rental, which is the covered in another research report on Global power rental market. A general trend towards power bank rental has been driven by a combination of growing penetration of smartphones, constant smartphone evolution leading to higher battery consumption and willingness of users to pay for mobile device charging service, which has opened revenue opportunities into power bank rent - particularly among younger age groups.

In addition, low price of service has also attracted users to use this service. In the context of the supply side, the power bank rental companies are increasingly focused on providing high quality user experience in order to acquire and retain customers. The PBR competitive landscape is going through a period of rapid change. High incremental dollar revenue growth of power bank rental has led opening of a large number of startups. The PBR users is forecast to expand by more than 600 million users over the next 5 years driven primarily by the millennial demographic which sees appeal in using sharing economy products rather than owning it.

MARKET SEGMENTATION

By Pricing Plan

·         Pay as you go

·         Quarterly/Annual Membership

By Partners

·         Commercial Spaces

·         Retail and Shopping Centers

·         Bars and Clubs

·         Others

By Region

·         North America

·         Europe

·         Asia Pacific

·         South America

·         Middle East & Africa

The power bank rental research report includes:

·         Analysis of demand trends

·         Market size and five year forecasts of market trend and growth

·         Detailed segmentation of global and regional market

·         Company profiles of major players

·         Consumer profile analysis

Why buy this report?

·         Inform your marketing, brand, strategy and market development, sales and supply functions

·         Track key industry trends, opportunities and threats

·         Gain competitive intelligence about market leaders

·         Create resilient market entry and expansion strategies