USB Charger Market Forecast 2023 - 2030

Report ID : CBI_1056 |  Category : Semiconductor And Electronics   | Published Date:     |  Format :   ms word  ms Excel  PDF

Segments Covered :
By Product Type USB Type A, USB Type B, and USB Type C
By Charger Type Wall Charger, Portable Charger, and Car Charger
By Port One, Two, Three, Four, and Others
By Power 30W - 45W, 45W - 60W, 60W - 75W, and Above 75W
By Application Smartphone, Tablet, Laptop, Portable Speakers, and Others
By Sales Channel Online and Offline
By Geography Asia-Pacific, Europe, North America, Latin America, Middle East & Africa
Report Snapshots :
Base Year: 2022
CAGR: 9.8%
Forecast Year: 2023 - 2030
Revenue 2022: $27,395.08 Mn
Revenue 2030: $56,803.55 Mn

USB Charger Market Forecast 2023 - 2030

Market Overview :

USB Charger Market is estimated to reach over USD 56,803.55 Million by 2030 from a value of USD 27,395.08 Million in 2022, growing at a CAGR of 9.8% from 2023 to 2030.

Market Definition :

A USB charger is a device that provides power to charge electronic devices through a USB (Universal Serial Bus) connection. USB chargers are most commonly used to charge smartphones, tablets, digital cameras, portable speakers, and other portable electronic devices. The USB chargers are equipped with advanced circuitry and built-in safeguards for ensuring safe and efficient charging processes for electronic devices.

USB Charger Market :

USB Charger Market

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Market Dynamics :

USB Charger Market Dynamics

Drivers :

  • Growing consumer electronics industry is fueling the adoption of USB chargers

    The USB chargers provide a convenient charging solution, enabling users to charge the electronic devices using a single cable and USB power adapter, thus eliminating the need for multiple chargers for different devices. Additionally, the USB chargers are portable and are hence widely used to charge various consumer electronic devices including smartphones, tablets, laptops, and others. The ability of USB chargers to fast charge the devices is considered to be one of the key factors driving the demand of the chargers to power consumer electronics. Also, factors including technological advancement and increasing demand for connected devices are resulting in the growing demand for USB chargers. Thus, surging penetration of smartphones, laptops, and other consumer devices with the incorporation of advanced features is the primary factor driving the growth of the consumer electronics sector, in turn positively impacting the adoption of USB chargers. According to recent insights from the Atradius, the consumer electronics sector in Spain grew by 3.5% in 2021 in comparison to 2020. Meanwhile, recent insights from Oxford Economics state that the total output of the overall electronics sector in South Korea witnessed a YoY growth of around 21.8% in 2021 and it is estimated to witness a growth of 10.8% by the end of 2022. Therefore, attributing to factors mentioned above, growing consumer electronics industry is boosting the adoption of USB chargers globally.

  • Increasing demand for multi-port USB chargers is driving the market growth

    The multi-port USB chargers offer multiple USB ports in a single device, allowing users to charge multiple devices at the same time. The multi-port USB chargers are designed to distribute power efficiently among the connected devices. Additionally, the surge in trends towards travelling and mobility is fueling the demand for multi-port USB chargers. For instance, the Universal Travel Adapter manufactured by Cadyce comprises of fast charging USB ports. Additionally, factors including increased efficiency and productivity are driving the demand for multi-port USB chargers, in turn boosting the growth of the USB chargers market

Restraint :

  • Presence of alternative in form of wireless charging is restraining the market growth

    Wireless charging offers several advantages over traditional USB charging. The wireless chargers eliminate the need for cables and connectors, in turn enhancing the convenience and ease of use of the chargers. Additionally, regular pugging and unplugging of charging cables leads to wear and tear on the connectors and ports of the devices, this is one of the major factors fueling the adoption of wireless chargers. Moreover, the wireless chargers provide users with more flexibility in device placement without requiring the devices to be precisely aligned with charging connectors. Therefore, owing to aforementioned factors, rising adoption of wireless chargers is restraining the growth of USB charger market globally.

Opportunities :

  • Rising government initiatives to standardize charging ports provides growth opportunities

    The USB chargers offer a standardized charging interface that is compatible with a wide range of electronic devices including smartphones, tablets, smartwatches, portable speakers, and others. Several governments worldwide are implementing regulations to standardize the charging ports in order to provide universal charging solutions for small electronic devices and mobile phones. For instance, in October 2022, the European Parliament mandated equipping all types of mobile phones, cameras, and tablets sold in EU with USB Type C charging port. Thus, surge in government initiatives to standardize charging ports of electronic devices is expected to positively impact the growth of USB charger market during the forecast period.

 

USB Charger Market Report Coverage:

Report Attributes Report Details
Study Timeline 2017-2030
Market Size in 2030 USD 56,803.55 Million
CAGR (2023-2030) 9.8%
By Product Type USB Type A, USB Type B, and USB Type C
By Charger Type Wall Charger, Portable Charger, and Car Charger
By Port One, Two, Three, Four, and Others
By Power 30W - 45W, 45W - 60W, 60W - 75W, and Above 75W
By Application Smartphone, Tablet, Laptop, Portable Speakers, and Others
By Sales Channel Online and Offline
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Players Just Wireless, Huntkey, Petra Industries, LLC, Baccus Global LLC, Xiaomi, Verizon, Eaton, Inter IKEA Systems BV, NCC Corp, SDI Technologies, AT&T Inc, DB Power Limited

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Market Segmentation :

By Product Type:

Based on the type, the market is segregated into USB Type A, USB Type B, and USB Type C. The USB Type A segment accounted for the largest revenue share of 46.21% in the year 2022. USB Type A chargers are one of the most common types of chargers available and are most commonly used to charge small portable speakers, wireless headphones, wireless mouse, and other devices. The USB Type A charger comprises of a rectangular connector with a flat and elongated shape. The USB Type A chargers are cost effective as compared to other types of USB chargers, this is one of the key factors driving the demand for USB Type A chargers.

The USB Type C segment is anticipated to register the fastest CAGR growth during the forecast period. The USB type C chargers are characterized with a wide range of benefits including fast charging, symmetrical plug, reversibility, and high-power output among others. This in turn is anticipated to fuel the demand for USB Type C chargers. Further, several companies are introducing USB Type C faster chargers, which is expected to positively impact the market growth during forecast period.

Global USB Charger Market, By Product Type, 2022

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By Charger Type

Based on the charger type, the market is classified as Wall Charger, Portable Charger, and Car Charger. The wall charger segment accounted for the largest revenue share in the year 2022. The USB wall charger, also known as USB wall adapter, is a device that plugs into wall outlet to provide power for charging electronic devices. Increasing number of USB powered devices including smartwatches, smartphones, and others is fueling the demand for USB wall chargers. Additionally, factors including convenience and ease of use are driving the adoption of USB wall chargers.

The portable charger segment is anticipated to witness the fastest CAGR growth during the forecast period. The portable chargers store electrical energy to charge electronic devices. The surge in trend towards travelling is considered to be one of the key factors that is driving the demand for portable chargers. Additionally, several manufacturers are introducing portable chargers for laptops which in turn is expected to positively impact market growth during the forecast period. For instance, in August 2022 Lenovo launched a portable USB charger for charging laptops.

By Port :

Based on the ports, the market is classified into One, Two, Three, Four, and Others. The one port segment accounted for the largest revenue share in the year 2022. The one-port USB chargers are considered to be more affordable than other types of USB charger comprising of more than one port. Moreover, the surge in trend towards adoption of compact and light weight chargers is one of the key factors fueling the demand for one port USB chargers

The four-port segment is anticipated to witness the fastest CAGR growth during the forecast period. The four port USB chargers are designed to charge 4 electronic devices simultaneously at a single time. For instance, RAVPOWER manufactures 40W 8A 4-Port Desktop Charger specifically designed for charging smartphones, headphones, and power bank among other devices. Factors including multi-device charging convenience and broad device compatibility are expected to fuel the adoption of 4 port USB chargers during the forecast period.

By Power :

Based on the power, the market is categorized as 30W - 45W, 45W - 60W, 60W - 75W, and Above 75W. The 45W - 60W segment accounted for the largest revenue share in the year 2022. The 45W - 60W USB chargers are suitable for charging tablets, smartphones, gaming consoles, and other devices that require optimal performance and charging speeds. Increasing adoption of smartphones is one of the key factors driving the demand for 45W - 60W USB chargers.

The above 75W segment is anticipated to witness the fastest CAGR growth during the forecast period. The above 75W are designed to charge electronic devices that require substantial power including high-end gaming laptops among others. Surge in trend towards gaming is expected to fuel the demand for gaming laptops in turn positively impact the adoption of above 75W USB chargers during the forecast period.

By Application :

Based on the application, the market is classified as Smartphone, Tablet, Laptop, Desktop, and Others. The smartphone segment accounted for the largest revenue share in the year 2022 and is also expected to grow with fastest CAGR during the forecast period. The USB chargers for smartphones are widely used to provide a convenient and reliable charging solution. Increasing dependence on smartphones for communication, productivity, and entertainment are considered to be key factors driving the demand of USB chargers for smartphone applications. Additionally, increasing product launches of energy efficient USB chargers for smartphones is another key factor that is expected to positively impact the market growth during the forecast period. For instance, in June 2020, Samsung launched energy efficient USB chargers for smartphones.

By Sales Channel :

Based on the sales channel, the market is bifurcated into online and offline. The offline sales channel segment accounted for the largest revenue share in the year 2022. The offline sales channels for USB chargers comprises of several modes including supermarkets, hypermarkets, convenience stores, departmental stores, and others. The offline stores sell the same products of different brands, hence are preferred by consumers in order to differentiate between several brands before buying the products. Furthermore, several benefits including immediate sales, increased product visibility, local market reach, and others are fueling the adoption of offline sales channel by the manufacturing companies for USB chargers.

The online sales channel segment is anticipated to witness the fastest CAGR growth during the forecast period. The online segment includes e-commerce channels such as Amazon, Flipkart, Alibaba, and others. This segment can be used by both residential and commercial customers for purchasing USB chargers. Factors including rising internet penetration and the influence of social media are expected to boost the growth of online sales channel for USD chargers during the forecast period. For instance, as per Eurostat, by 2021, the share of EU households with internet access had risen to 92 %, 20 percentage points higher than in 2011 (72 %).

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

 
Asia Pacific USB Charger Market Size, 2022 (USD Million)

Regional Growth Insights

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Europe accounted for the largest revenue share in the year 2022 valued at USD 9,919.76 million and is projected to grow at a CAGR of 10.0% during the forecast period. The increasing adoption of smartphones is driving the growth of the USB Charger market in the region. Moreover, the surge in trend towards gaming is fueling the demand for gaming laptops in the region, in turn boosting the adoption of USB chargers.

The Asia-Pacific region is anticipated to witness the fastest CAGR of 10.3% during the forecast period. In addition, in the region, China accounted for the maximum revenue share of 28.3% in the same year. Growing demand for consumer electronics products including laptops, computers and mobile phones among others is boosting the growth of the market in the region. For instance, according to International Data Corporation (IDC), the traditional personal computer market in India witnessed a growth of 37.7% during the first quarter of 2022. Moreover, increasing government initiatives to standardize charging ports is anticipated to positively impact the market growth during the forecast period. For instance, in December 2022, the Bureau of Indian Standards (BIS)mandated the smartphones in India to be equipped with USB Type C port by 2025.

Asia Pacific USB Charger Market, By Countries (2022)

Details Countries Growth Insights

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USB Charger Market Competitive Landscape:

The USB Charger Market is highly competitive due to the presence of a large number of key players operating in the market. The report analyses detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the USB Charger market. Key players in the USB Charger market include-

Recent Developments :

  • In March 2022, Anker launched 35W UCS Type C wall charger comprising of 2 ports of 20W and 15W power delivery in India. The company has launched the products with an aim to expand its presence in the Asia Pacific region.
  • In January 2023, Belkin announced launch of eco-friendly USB chargers for iPad, Mac, and iPhone.
 

Frequently Asked Question

What is USB Charger?+

A USB charger is a device that provides power to charge electronic devices through a USB (Universal Serial Bus) connection. The USB chargers are used to charge several electronic devices including smartphones, laptops, tablets, and others.

What specific segmentation details are covered in the USB Charger Market report, and how is the dominating segment impacting the market growth?+

The report consists of segments including Product Type, Charger Type, Port, Power, Application, and Sales Channel. Each segment has key dominating sub-segment being driven by the industry trends and market dynamics. For instance, by type segment has witnessed Type A as the dominating segment in the year 2022 due to the increasing demand for reliable charging solution.

What specific segmentation details are covered in the USB Charger Market report, and how is the fastest segment anticipated to impact the market growth?+

The report consists of segments including Product Type, Charger Type, Port, Power, Application, and Sales Channel. Each segment is projected to have the fastest-growing sub-segment being fuelled by industry trends and drivers. For instance, by sales channel segment has witnessed online as the fastest-growing segment due to increasing internet penetration globally.

Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?+

The Asia-Pacific region is anticipated to witness fastest CAGR growth during the forecast period due to the increasing demand for consumer electronics in the region.