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The portable power station market is estimated to grow at a CAGR of 8.59% between 2022 and 2027. The size of the market is forecast to increase by USD 179.21 million. The growth of the market depends on several factors, including the growing demand for uninterrupted and reliable power during power outages, the declining lithium-ion battery prices, and the high prevalence of tourism.
This report extensively covers market segmentation by application (off-grid power, emergency power, and automotive), technology (lithium-ion and sealed lead-acid), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global portable power station market as a part of the global renewable electricity market. The parent market, the global renewable electricity market, covers companies engaged in the generation and distribution of electricity using renewable sources. The growth of the global renewable electricity market will be driven by factors such as supporting policies and targets for the deployment of renewable power, declining costs of renewable energy technologies, increasing demand for renewable power due to environmental concerns, and technological advances. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growing demand for uninterrupted and reliable power during power outages is notably driving the portable power station market growth, although factors such as long charging times for solar-powered portable power stations may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
Key Portable Power Station Market Driver
The growing demand for uninterrupted and reliable power during power outages is notably driving the portable power station market growth. Rising instances of natural disasters have resulted in the demand for uninterrupted and reliable power systems. Portable power systems are crucial in these situations as they provide emergency power to hospitals and emergency shelters. For instance, in January 2020, an earthquake of magnitude-6.4 affected Puerto Rico, US, which led to a large-scale power outage. Also, in March 2019, a power outage affected around 18 states in Venezuela. Such situations have increased the demand for uninterrupted power systems.
Natural disasters increase the demand for power accessories, such as fuel tanks, load banks, cables, and transformers, which are generally offered by vendors in bundled packages as complete power solutions. Thus, the growing demand for uninterrupted and reliable power during power outages will increase the demand for portable power stations, which, in turn, will boost the growth of the market in focus during the forecast period.
Key Portable Power Station Market Trend
Growing participation in outdoor and camping activities is a key trend in the portable power station market growth. Due to increased participation in outdoor recreational activities, government support for building more campsites is significantly rising. Moreover, advancements in technology are fueling the demand for camping lights and lanterns, which is accelerating the need for portable power stations for charging these light sources. The growing inclination for outdoor and camping activities among people has also spurred the demand for flashlights and lighting systems, which drives the demand for portable power systems.
The rising number of campsites globally is also expected to fuel the growth of the global portable power station market during the forecast period. In addition, rising awareness about outdoor recreational activities among the population enhances the demand for camping and outdoor activities. This also leads to the rising use of lumen camping lights and lanterns. Such factors will support the growth of the global portable power station market during the forecast period.
Key Portable Power Station Market Challenge
Factors such as long charging times for solar-powered portable power stations may impede the portable power station market growth. The major challenge that is hampering the use of portable power stations is their long charging times. Most portable power station models require hours of charging and cannot supply the same power as portable power generators. Moreover, portable power stations are also more expensive than portable generators, which results in an increasing preference for portable generators over portable power stations.
Solar-powered portable power stations also require solar energy to charge the batteries. However, extreme weather conditions such as heavy rainfall or storms can negatively impact the charging of portable power stations and may increase the charging time. Such factors will hinder the growth of the global portable power station market during the forecast period.
Key Portable Power Station Market Customer Landscape
Our analysis of the lifecycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, Saudi Arabia, China, Australia, and Germany. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Portable Power Station Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
AIMTOM Co. Ltd. - The company offers portable power stations such as the Rebel 440 Power Station and the PowerPal X Portable power station.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the off-grid power segment will be significant during the forecast period. Off-grid power, also known as remote microgrids, has found applications mostly in villages and remote areas where grid-connected power is not accessible or is available only for a limited number of hours. It is expected that the majority of the growing power demand from remote villages will be met by off-grid power systems, as there is a significant increase in demand for electricity compared to the expansion rate of conventional electricity grids.
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The off-grid power segment showed a gradual increase in market share with USD 174.57 million in 2017 and continued to grow by 2021. Portable power stations will likely remain an integral part of remote microgrids. The multi-year decline in the cost of solar panels, coupled with advances in energy storage, is allowing clean energy microgrids to reach people where investments in conventional grids are not feasible. Energy storage systems are being added to microgrids to reduce fuel costs, meet the peak loads instead of scaling up the generator capacity rating, and aid diesel generators in working at a higher efficiency level. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of portable power stations, which is driven by an increase in the global demand for portable power stations.
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APAC is projected to contribute 36% of the market's growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Developing countries in APAC are registering rapid industrialization and urbanization. The population in this region is increasing at a higher rate than that in developed countries. As a result, the demand for electricity is increasing. Poor power infrastructure in Asian countries causes frequent power outages, which increases the demand for portable power stations for power backup. Thus, the growth of the portable power station market in APAC can be attributed to the increasing demand for electricity from residential, commercial, and several small-scale industries. Some of the major markets in APAC are China, India, Bangladesh, Indonesia, Myanmar, South Korea, Thailand, Singapore, and Australia, where the demand for portable power stations is high.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The COVID-19 pandemic in 2020 negatively affected many countries in the region, such as China, India, South Korea, and Japan. Many countries in APAC announced nationwide lockdowns to mitigate the threat of COVID-19, which resulted in the temporary closure of industries, construction activities, and other power station activities. The temporary closure of the above sectors led to a decline in the adoption of portable power stations among end-users. However, large-scale vaccination drives, the easing of lockdown restrictions, and the resumption of supply chain operations helped the market recover to a certain extent in 2021. Moreover, a rise in construction activities and a growing supply-demand imbalance for electricity in developing countries such as India will boost the growth of the regional portable power station market during the forecast period.
Our report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application, technology, and region.
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Portable Power Station Market Scope |
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Report Coverage |
Details |
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Page number |
158 |
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Base year |
2022 |
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Historical year |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.59% |
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Market growth 2023-2027 |
USD 179.21 million |
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Market structure |
Fragmented |
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YoY growth (%) |
8.08 |
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Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
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Performing market contribution |
APAC at 36% |
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Key consumer countries |
US, Saudi Arabia, China, Australia, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
AIMTOM Co. Ltd., Allpowers Industrial International, Anker Technology UK Ltd., Bluetti Power Inc., ChargeTech Inc., Drow Enterprise Co. Ltd., EcoFlow Inc., Energizer Holdings Inc., Fanttik Inc., Goal Zero LLC, GoSun, Jackery Inc., Klein Tools Inc., Li Power (Shenzhen) Technology Co. Ltd., Lion Energy, Midland Radio Corp., Milwaukee Electric Tool Corporation, ROCKSOLAR, The Duracell Co., and TogoPower |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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