News

Oct 13, 2023

Portable Power Station Market Worth $1.1 Billion by 2028

CHICAGO, June 6, 2023 /PRNewswire/ -- Portable Power Station Market is projected

CHICAGO, June 6, 2023 /PRNewswire/ -- Portable Power Station Market is projected to reach USD 1.1 billion in 2028 from USD 0.5 billion in 2023 at a CAGR of 18.4% according to a new report by MarketsandMarkets™. Portable power stations are portable and compact devices that function as independent power sources. Their purpose is to store electrical energy obtained from diverse sources such as solar panels, wall outlets, or car chargers, and subsequently utilize this energy to supply power to electronic devices and appliances. These stations offer a practical and dependable solution for powering various devices during outdoor activities, camping excursions, road trips, and emergency scenarios. By eliminating the need to depend on conventional power grids or generators, portable power stations ensure that users have access to electricity wherever they are. Their compact design, user-friendly nature, and capacity to deliver clean and sustainable power have significantly increased their appeal among individuals seeking reliable and adaptable energy sources.

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Browse in-depth TOC on "Portable Power Station Market"150 - Tables45 - Figures210 - Pages

Portable Power Station Market Scope:

Report Coverage

Details

Market Size

USD 1.1 billion in 2028

Growth Rate

18.4% of CAGR

Largest Market

North America

Market Dynamics

Drivers, Restraints, Opportunities & Challenges

Forecast Period

2023-2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Portable Power Station Market by technology type, power source, sales channel, application, capacity, and region.

Geographies Covered

Asia Pacific, North America, Europe, South America, Middle East and Africa.

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Capitalize on the energy transition and renewable integration

Key Market Drivers

Increasing sales of smart electronic devices

The 200–400 Wh, by capacity, is expected to grow at the highest CAGR during the forecast period.

Based on capacity, the potable power station market has been split into 0−100 Wh, 100−200 Wh, 200−400 Wh, and 400−1,000 Wh, 1,000−1,500 Wh, and 1,500 Wh and above. Portable power stations with a capacity of 200–400 Wh are specifically designed to supply power to both small and medium-sized devices. Stations with capacity of 200−400 Wh find applications in residential power, commercial power, and outdoor environments. In residential power settings, they serve as reliable backup power sources for essential household appliances and communication devices. Similarly, in commercial power scenarios, they are utilized for charging laptops, tablets, and various other communication devices. The technologies employed in these portable power stations within the 200 Wh to 400 Wh capacity range encompass both lithium-ion and sealed lead-acid options, offering users a range of choices to meet their specific power needs.

The hybrid power segment, by power source, is expected to be the largest segment during the forecast period.

This report segments the Portable Power Station Market based on power source into two segments: hybrid power, and direct power. The hybrid power segment is expected to be the largest segment during the forecast period. The market for hybrid power is being driven by the growing emphasis on renewable energy and the reduced dependency on fossil fuels. Solar power, with its ability to be utilized in off-grid locations where direct power access is limited or non-existent, is favored for its key advantage. Portable power stations used for camping and recreational vehicle purposes are typically charged using solar energy.

North America is expected to be the largest region in the Portable Power Station Industry

North America is expected to be the largest Portable Power Station Market during the forecast period. The growth of the Portable Power Station Market in the North America region, which includes the US, Canada, and Mexico, is attributed to several factors. These include the rise in outdoor activities such as camping and recreational activities, the implementation of strict regulations regarding emission control, and the increasing inclination towards smart grid devices. The camping sector in North America, as highlighted by the World Tourism Council and Kampgrounds of America, Inc. (KOA), is characterized by its high diversity. It is observed that half of the new campers are from non-white groups, with a growing number of Asian, Hispanic, and African American outdoor enthusiasts adopting the camping lifestyle. The popularity of camping and recreational activities has been consistently increasing, as reported by The North American Camping Report, with a notable growth trend across the US. Private campgrounds in countries like the US and Canada are actively preparing for this surge in camping demand by expanding their park sites and introducing new and unique camping offerings. These include the addition of comfortable RV patio sites, glamping tents, and full-service cabins. Furthermore, the future production of lithium-ion batteries can benefit from the abundant lithium deposits found in the US.

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Key Market Players:

Some of the major players in the Portable Power Station Companies are Goal Zero (US), Jackery (US), Duracell (US), EcoFlow (US), Anker Innovations (US), and Lion Energy (US). The major strategies adopted by these players include sales contracts, agreements, alliances, partnerships, acquisitions, and expansions.

Recent Developments

In December 2022, Lion Energy entered into an agreement with ABF. Under this agreement, ABF will supply Lion Energy with high-capacity prismatic cells with 50 and 300 Ah outputs, which will be used in a variety of Lion Energy solutions, including portable solar generators and power stations.

In August 2022, Goal Zero partnered with Yeti Cycles, a leading manufacturer of high-performance mountain bikes. Goal Zero has integrated its portable solar panels and portable power banks into Yeti Cycles' bikes and accessories to provide a stable source of power for off-grid riding as part of this partnership.

In 2021, Jackery and Toyota partnered to create a portable power station for the Toyota Prius Prime. The Jackery Explorer 500 Portable Power Station is a compact and portable power solution that is compatible with the hybrid system of the Prius Prime. It is rechargeable using solar panels or an ordinary wall socket and can power a variety of gadgets, including electric automobiles.

In November 2020, EcoFlow collaborated with SunPower to provide the EcoFlow - SunPower Energy bundle. This can be used to power small electronics and can be charged in 5 to 9 hours in direct sunlight.

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