According to TechSci Research report, “Middle East and North Africa Power Bank Market By Type, By Capacity, By USB Ports, By Distribution Channel, By Country, Competition Forecast & Opportunities, 2013 – 2023’’, power bank market in the Middle East and North Africa (MENA) region is projected to reach $ 223 million by 2023. Key factors expected to fuel the market are rising young population, increasing number of technological advancements, anticipated recovery in services and manufacturing sectors, and growth in both inbound and outbound tourism across the region. Moreover, socio-economic developments by various major economies in the MENA region such as UAE Vision 2021, Saudi Vision 2030 and Kuwait Vision 2035 are likely to steer growth in the region’s power bank market during the forecast period.
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Anker Innovations Limited accounted for the largest market share in the Middle East and North Africa power bank market in 2017, and the company is expected to maintain its dominance through 2023, as it offers both Lithium-ion and Lithium Polymer power banks as well as a wide capacity range of power banks. Moreover, the company’s products are easily available on online portals and offline stores across the region. Of the two types of power banks, Lithium Polymer based power banks dominate the MENA power bank market, as they have a low discharge rate and are comparatively safer than Lithium-ion type. Huge demand for power banks emanates from the UAE and Saudi Arabia, mainly due to a large number of tourist arrivals in these countries. Offline distribution channel accounts for the largest market share, as it provides the user a hands-on experience of the product and retailer advice for purchasing the most preferred power bank brand.
“According to the World Travel & Tourism Council, tourism sector contributed more than $ 220 billion to the Middle East GDP in 2017. This contribution is expected to increase to around $ 365 billion by 2028, primarily backed by Expo 2020 in Dubai, Football World Cup 2022 in Qatar and various favorable government initiatives. Consequently, power bank market in the Middle East and North Africa region is expected to grow at a robust pace over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Middle East and North Africa Power Bank Market By Type, By Capacity, By USB Ports, By Distribution Channel, By Country, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of the Middle East and North Africa power bank market and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the Middle East and North Africa power bank market.