Portable Power Station Market Business Insights, Strategies, Forecast By 2030
Research Reports
Oct 06, 2023
Portable Power Station Industry Insights:
Portable Power Station Market Revenue will reach USD 735.88 Million, with a CAGR of 8.14% during the period 2023-2030.
Electricity may be captured, stored, and supplied sustainably with the help of portable power plants. Incorporating renewable energy sources into mobile power plants is feasible. Portable power stations provide instantaneous, plug-and-play electricity. Energy may be supplemented with the help of portable power stations.
There has been a meteoric rise in the popularity of high-tech gadgets worldwide. The need for mobile generators has risen as a result. There has been an increase in the requirement for Portable Power Stations because of the growing number of uses that need constant electricity. The primary reasons expected to generate chances for the Portable Electricity Station Market throughout the forthcoming period are the quick expansion in the use of smart grid services, the growing utilization of power in distant places, and the tendency toward renewable energy sources.
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The Portable Power Station Market has suffered due to the COVID-19 pandemic. Worldwide, most nations went into lockdown. There were severe limits on travel. Thus people spent much less money on leisure activities. Portable power stations saw a dramatic drop in demand as more individuals spent more time at home. The recent COVID-19 epidemic impacted the supply of raw materials for this industry. The Portable Power Station Market suffered from snags such as temporary factory shutdowns, a lack of skilled labor, and supply chain issues.
Key Players
- Goal Zero (US)
- Jackery (US)
- Lion Energy (US)
- Ecoflow (US)
- Li Power (Shenzhen) Technology (China)
- ChargeTech (US)
- Midland (US)
- Duracell (US)
- Drow Enterprise (China)
- Scott Electric (US)
- Suaoki (Japan)
- Milwaukee Electric Tool (US)
Portable Power Station Market Drivers:
Emergency Preparedness: Natural disasters and power outages are becoming more frequent. Portable power stations serve as a valuable asset for emergency preparedness, ensuring individuals have access to electricity for communication, medical devices, and essential appliances during crises.
Advancements in Battery Technology: Ongoing advancements in battery technology have led to improved energy storage capacities, longer battery life, and faster charging times for portable power stations. These technological enhancements are making these devices more efficient and appealing to consumers.
COVID-19 Impact on Portable Power Station Market:
Supply Chain Disruptions: The pandemic disrupted global supply chains, causing delays in the production and distribution of portable power stations. Many manufacturers faced challenges sourcing components, which led to product shortages and increased prices.
Impact on Trade and Imports: International trade restrictions and lockdowns in various countries affected the import and export of portable power stations, further complicating supply chain issues.
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Market Segmentation:
There is a huge portable power stations market worldwide. It is broken down into submarkets determined by factors such as where they are utilized and the industries they serve.
In 2020, lithium-ion portable power stations accounted for the lion’s market share, and this category is forecast to expand at the fastest rate throughout the forecast period. Lithium-ion batteries are becoming more widely available and affordable in Europe, North America, and the Asia Pacific.
The sealed lead acid segment is expected to grow slower than the lithium-ion segment. Because of its extended lifespan and minimal maintenance requirements, lithium-ion batteries will be increasingly in demand over the next few years because of their widespread use in portable power stations.
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Regional Classification:
As a result of the increasing demand for consumer electronics, North America is predicted to have the largest market share of portable power stations worldwide. The expansion of the outdoor recreation industry is also anticipated to contribute to market growth. Furthermore, shifting consumer tastes and rising interest in cutting-edge commodities could drive market expansion.
The increasing prevalence of power disruptions in emerging nations has elevated Asia-Pacific to the position of second-largest market shareholder. In addition, the increase in tourism has resulted in a need for more mobile power options to be implemented in the area. The increasing need for backup systems is also expected to contribute to the expansion of the market.
Industry News
Bluetti released the EB 70, a portable power station with a 716 Wh lithium battery, in April 2021 for USD 499. The EB 70 has 12 power outlets suitable for use with electronic gadgets, kitchen appliances, small space heaters, and small refrigerators. It may be used in various situations, including camping, RVing, traveling, and in-house crises.
Duracell’s Power Source 1440 W, a portable battery generator that releases clean, gas-free, odorless powder, was released in January 2021. When the power goes out, it seamlessly switches from AC to its internal battery, making it perfect for mission-critical equipment.
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