In 2023, the market for USB wall chargers will be worth $1.68 billion. By the end of 2033, the market for USB wall chargers is expected to be worth US$3.09 billion, growing at a CAGR of 6.3%.
The growing use of the Internet across geographies has created growth potential in the global market. The significant increase in power consumption by many electronic devices is also anticipated to increase demand for USB wall chargers. It is anticipated that increasing consumer demand for laptops, smartphones, and other electronic devices would expand the market for USB wall chargers. In the last two to five years, USB wall charger cameras have also gained popularity.
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USB Wall Charger Sales Highly Consolidated among Individual Buyers:
Fact.MR study estimates that purchase of USB wall chargers remains highly consolidated among individuals. Over 60% of the USB wall chargers were purchased by individuals in 2018.
Sales of these chargers remain comparatively lower in the commercial applications as individuals carry their personal chargers or prefer portable charger devices. However, in a bid to deliver convenience to office workers, adoption of USB wall chargers in commercial applications such as office infrastructures.
Fact.MR finds that North America continues to witness greater sales of USB wall chargers owing to greater penetration of technology and electronic gadgets. Over 4 in 10 USB wall chargers are sold in North America wherein the U.S. accounted for 80% of the North America sales.
The study also finds that APEJ will register a rapid rise in the sales of USB wall chargers wherein Greater China contributes significantly. Sales in other APEJ countries such as South Korea, Australia and New Zealand are rising rapidly on the back of rising sales of smartphones and other electronic gadgets.
Key trends:
Rising Demand for Fast Charging Technologies: One of the most significant drivers of growth in the USB wall charger market is the increasing demand for fast charging technologies. Consumers today lead fast-paced lives and require their devices to be charged quickly and efficiently. This has led to the development and adoption of various fast charging standards such as Qualcomm’s Quick Charge, USB Power Delivery (PD), and Adaptive Fast Charging.
Compatibility and Multi-Device Charging: The market’s outlook is also influenced by the growing need for chargers that are compatible with a wide range of devices. With households owning multiple smartphones, tablets, laptops, and wearables, the demand for USB wall chargers with multiple ports has surged.
Shift toward Wireless Charging: While USB wall chargers have traditionally relied on wired connections, wireless charging technology is gradually making its way into the market. As more devices incorporate wireless charging capabilities, consumers are seeking charging solutions that offer both convenience and efficiency. Wireless charging pads and stands are becoming increasingly common, providing an alternative to traditional USB chargers.
Focus on Energy Efficiency and Sustainability: In the face of growing environmental concerns, the USB wall charger market is experiencing a shift toward more energy-efficient and sustainable solutions. Manufacturers are incorporating technologies that optimize power delivery, reduce energy consumption in standby mode, and adhere to energy efficiency standards. Additionally, there’s a push toward using more environmentally friendly materials and packaging, reflecting the industry’s commitment to reducing its carbon footprint.
Competitive Landscape:
Leading suppliers of USB wall chargers are increasing their expenditure on new developments. Maintaining product standards and strengthening supply chain management systems are also some significant initiatives that are taken by market players.
Manufacturers of USB wall chargers are exploring new technologies that provide convenience to consumers. Prominent manufacturers are involved in product launches, collaborations, strategic acquisitions, etc. to gain a competitive edge in the market in the coming decade.
For instance :
• In 2021, Anker Innovations introduced gallium nitrate (GaN) II technology that includes a Nano II series charger. The product comprises 30-, 45-, & 65-watt chargers with capabilities of fast charging.
• In 2021, BG Electrical launched 30 W USB-C & USB-A integrated wall chargers. They guarantee fast charging features for laptops, tablets, and smartphones.
AUKEY, Eaton Corporation Plc, AT&T Inc., Mophie, Inc., Anker Technology Co. Limited, Mizco International Inc., Monster Store, GP Batteries International Ltd., Cyber Power Systems, Inc., Maxell Holdings Ltd., Prime Wire & Cable, Inc., Native Union, E-filliate, HGD, MyCharge, Goal Zero, EasyAcc.com, Inc., Insignia, Just Wireless, RavPower, and JS Create are prominent manufacturers of USB wall chargers.
Segmentation of USB Wall Charger Industry Research:
• By Product :
o Mini USBs
o Micro USBs
o USB-A
o USB-C
o Lightning
• By Charger Type :
o Wall Chargers
o Portable Power Banks/Docking Systems/Alarm Clocks
o Car Chargers
• By Port :
o Single Port with Single Power Output
o Multiport with Single Power Output
o Multiport with Multiport Power Output
• By Power :
o 30 W to 45 W
o 46 W to 60 W
o 61 W to 75 W
o Above 75 W
• By Application :
o Smartphones
o Tablets
o Laptops
o Desktops
• By Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa
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