USB Charger Market

USB Charger Market Outlook (2023 to 2033)

As per the latest study by Fact.MR, the global USB charger market is estimated at US$ 28.1 billion in 2023 and is forecasted to expand at a CAGR of 6.6% to reach a size of US$ 53.3 billion by the end of 2033.

USB chargers are power adapters that help convert AC power into DC power to charge USB-compatible devices. There has been a huge demand for electronic devices such as mobiles, laptops, tablets, and battery devices, which, in turn, is driving market growth. Each device has a limited battery life, which creates the need for USB chargers.

Rapid technological advancements are taking place in the field of electronics. Projections are that type C chargers with exhibit high demand growth over the next ten years. Manufacturers are constantly focusing on innovation to widen their product portfolios and capture new markets.

Report Attributes	Details
USB Charger Market Size (2022A)	US$ 26.5 Billion
Estimated Market Value (2023E)	US$ 28.1 Billion
Forecasted Market Value (2033F)	US$ 53.3 Billion
Global Market Growth Rate (2023 to 2033)	6.6% CAGR
China Market Share (2023)	21.09%
United States Market Growth Rate (2023 to 2033)	3.9% CAGR
Key Companies Profiled	AT&T Inc. Eaton Corporation Plc. GP Batteries International Ltd. Maxell Holding Ltd. Anker Technology Co. Ltd. Cyber Power Systems, Inc. AUKEY Mizco International Inc. Mophie, Inc. Prime Wire& Cable, Inc. Others

Demand Analysis of USB Chargers (2018 to 2022) vs. Market Projections (2023 to 2033)

The market for USB chargers and portable power banks is forecasted to expand at a CAGR of 6.6% during the forecast period (2023 to 2033, according to Fact.MR, a market research and competitive intelligence provider. This is much higher than the rate at which it grew over the historical years of 2018 to 2022, which was 2.8%.

The concept of USB chargers originated in the early 2000s with advancements in electronics. Initially, USB 1.1 had limited charging capacity. Technological advancements led to the introduction of USB 2.0 and USB PD, capable of supplying up to 100 watts. The market is poised for rapid growth due to the evolution of charging technologies and the emergence of advanced electronic devices.

• Short Term (2023 to 2026): Increase in demand for portable electronic devices such as laptops, mobile phones, tablets, and many others is anticipated to drive market expansion in the short term.
• Medium Term (2026 to 2029): In the medium term, the global USB charger market is projected to progress at a significant pace with advancements in IoT (Internet of Things). IoT involves devices embedded with sensors and software, which when interconnected, exchange data over the Internet. IoT is widely applicable across industries like manufacturing, healthcare, and transportation.
• Long Term (2029 to 2033): Advancements in technology and growing ever-demand for wireless charging devices are projected to drive market growth in the long term. Consumers have started preferring wireless charging options owing to factors such as convenience, reduction in clutter, durability, and sustainability. This is going to drive the market in the long term.

What are the Dynamics Influencing the Sales of USB Chargers?

“Faster Charging Capability and Multi-device Support of Advanced USB Chargers”

In recent times, there has been a surge in demand for portable electronic devices such as mobile phones, laptops, and chargers. However, these devices have limited battery life. To extend the battery life, manufacturers are constantly focusing on capturing the market with innovative USB chargers to meet consumers’ demands.

Advancements in technology have helped launch USB Power Delivery (USB-PD), a charging standard that offers a significantly enhanced power supply compared to traditional chargers used in the past. Advanced USB chargers power up portable devices more rapidly, accommodate several devices, and exhibit greater compatibility. Consequently, they are anticipated to garner market traction.

“High Demand for IoT Devices across the World”

The world is moving into the age of artificial intelligence, and the Internet of Things (IoT) is a prominent trend. IoT involves physical objects embedded with software and sensors, connected to other devices for data transfer over the internet.

IoT finds applications in households and industries, encompassing devices like fitness trackers, wearables, smart speakers, thermostats, industrial sensors, and more. Utilization of USB chargers in IoT is poised for rapid market growth due to their standardization, versatility, and efficiency in the forecasted period.

What Can Become a Potential Barrier to Market Expansion?

“Increasing Focus on Developing Quantum Charging Technologies”

Quantum charging is evolving technological advancements. In this type of charging, the concept of quantum mechanics is applied where two objects are linked with the same fate even though kept at a larger distance. Companies are heavily investing in R&D to transfer energies between batteries to other portable devices. This may pose a barrier to the market in the coming decades.

Country-wise Insights

Why is China a Key Market for USB Charger Manufacturers?

“Well-established Electronics Manufacturing Facilities”

China accounts for a huge global market share of 21.09%, with the market having reached a value of US$ 6.4 billion in 2023.

China leads the rest of the world in the manufacturing of electronic devices. Electronic devices have limited battery life and thus generate a need for chargers. Increasing disposable income in China is stimulating demand for advanced portable electronic devices. This in turn is aiding market expansion in China.

Why is the United States Market Expanding Steadily?

“High Sales of Laptops, Tablets, and Mobile Phones for Professional and Educational Purposes”

The market for USB chargers in the United States is projected to expand at 3.9% CAGR between 2023 and 2033. The U.S. accounts for 14.2% share of the global market in 2023.

Since the outbreak of COVID-19, mobile phone ownership has rapidly increased across the world, especially in the United States. This is attributed to various factors, including the remote work concept, the prevalence of online teaching and learning, online businesses, and various other activities. Thus, demand for laptops, tablets, and mobile phones has increased for both professional and educational purposes. This has led to the high demand for USB chargers in the country.

Category-wise Insights

Which Type of USB Charger Accounts for Higher Demand?

“Steady Demand Growth for USB Type C Chargers”

Based on product type, the market is classified into USB type A chargers, USB type B chargers, and USB type C chargers. Type C USB chargers are in high demand across the world at present. The USB-C charger segment accounts for a value share of 53.2% of the global market in 2023 and is projected to expand at 6.9% CAGR through 2033.

Manufacturers are working toward a universal charger, the Type C charger, which is compatible with mobile phones, laptops, and tablets. This is anticipated to have a positive outlook for USB type C charger manufacturers in the decades to come.

For Which Devices are USB Chargers Most Extensively Utilized?

“Increased Utilization of USB Charger to Power-Up Mobile Phones”

The mobile phones application segment accounts for 51.2% market share at present and is forecasted to expand at 6.8% CAGR between 2023 and 2033.

There has been a rapid rise in smartphone ownership in recent times, which has driven up the demand for smartphone chargers. People have become dependent on these devices because of more screen time for various reasons such as educational purposes, remote working conditions, and watching videos, which necessitate battery consumption. Consequently, the devices experience premature battery depletion, necessitating the use of USB chargers to prolong the life of these electronic devices.

Competition Landscape

AT&T Inc., Eaton Corporation Plc., GP Batteries International Ltd., Maxell Holding Ltd., Anker Technology Co. Ltd, Cyber Power Systems, Inc., AUKEY, Mizco International Inc., Mophie, Inc., and Prime Wire & Cable, Inc. are the leading market players manufacturing USB chargers and wireless charging pads.

To introduce improved market applications, manufacturers are investing in research and development, focusing on different marketing strategies, strengthening their distribution channels, and widening their product portfolios. Also, companies are looking forward to strategic partnerships to sustain in the long run. The main aim lies in creating new products that will be cost-effective, ensure better quality, sustainable, durable, and meet the growing consumer needs. Leading products in the market besides USB chargers are laptop chargers, USB wall chargers, USB charging cables, USB charging stations, and USB adapters.

Fact.MR has provided detailed information about the price points of key manufacturers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of USB Charger Market Research

• By Product Type :

  • USB Type A
  • USB Type B
  • USB Type C
    • With PD
    • Without PD

• By Charger Type :

  • Wall Chargers
  • Portable Power Banks/Docking Systems/Alarm Clocks
  • Car Chargers

• By Port :

  • One
  • Two
  • Three
  • Four
  • Others

• By Power :

  • Up to 30W
  • 30W to 45W
  • 45W to 60W
  • 60W to 75W
  • Above 75W

• By Application :

  • Smartphones
  • Tablets
  • Laptops
  • Desktops
  • Others (Speakers, Cameras, etc.)

• By Multi-Port :

  • Multi-Port with Fixed Power
  • Multi-Port with Variable Power
    • Same Port with Variable Power
    • Different Port with Variable Power

• By Distribution Channel :

  • Online
  • Offline
    • Organized
    • Unorganized

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa