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The portable power station market is estimated to increase by USD 179.21 million and grow at a CAGR of 8.59% between 2022 and 2027. The market's expansion hinges on various factors, notably the increasing need for uninterrupted and dependable power supply amidst frequent power outages, the decreasing costs of lithium-ion batteries, and the thriving tourism industry. However, challenges persist, encompassing extended charging durations of solar-powered portable power stations, strict government mandates regarding battery disposal, and the existence of alternative solutions. The rising demand for continuous power solutions underscores the market's growth trajectory, driven by both commercial and residential consumers seeking reliable energy sources. Simultaneously, the reduction in lithium-ion battery prices stimulates market competitiveness, making energy storage solutions more accessible to a wider consumer base. Yet, overcoming obstacles such as prolonged charging times and regulatory compliance demands strategic initiatives and innovative approaches to sustain market momentum amidst evolving consumer needs and regulatory landscapes.
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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.
The Portable Power Station market has experienced significant growth in recent years, driven by the increasing demand for outdoor activities, work-life balance, and consumer electronics. With the rise of DIY projects, campers, and tailgaters, the need for reliable power sources, especially in remote locations, has become essential. Gas generators have traditionally been the go-to solution; however, technological advances in smart devices and wireless networks have led to an increased preference for smart electronic equipment that can be powered by portable power stations. Millennials, Gen X, and Gen Z are leading this trend, as they prioritize low-carbon energy systems and renewable energies. Global governments are also promoting the use of portable power stations for around-the-home use, lodgings, inns, resorts, caravans, camps, and fishing and climbing expeditions. The "push" strategy of manufacturers to introduce innovative and efficient portable power stations has further fueled product demand. With battery technology continuously evolving, portable power stations are becoming an indispensable part of modern life. 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.
The growing demand for uninterrupted and reliable power during power outages is notably driving the 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.
In today's world, extreme conditions such as earthquakes, storms, and lightning have led to an increased number of power failures and outages. These events, which include hurricanes Michael and Florence in the US and super typhoons Yutu and Mangkhut in the Pacific region, have highlighted the vulnerability of centralized power grids. Consequently, there is a growing demand for portable power stations to ensure uninterrupted power supply for essential devices like laptops during such crises. Portable power plants offer a reliable and efficient solution for continuous electric supply in the face of power outages caused by natural disasters.
Significant Portable Power Station Market Trend
Growing participation in outdoor and camping activities is a key trend in the 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 Portable Power Station market is experiencing significant growth due to the surge in outdoor recreational activities, particularly camping. With the increasing use of laptops and other electronic devices during camping trips, the need for reliable power sources has become essential. Power failures and outages, often caused by extreme conditions such as earthquakes, storms, and lightning, necessitate the use of portable power plants. The growing number of campsites globally is further fueling market expansion. For instance, the Croatian Camping Union lists over 300 campsites in Croatia, highlighting the demand for portable power solutions to support lighting systems and charging devices. Such factors will support the growth of the global portable power station market during the forecast period.
Factors such as long charging times for solar-powered portable power stations may impede the portable power station market growth. The portable power station market faces significant obstacles, primarily the prolonged charging duration. With most models taking hours to charge and offering less power than portable generators, their adoption has been limited. The high costs associated with portable power stations further exacerbate this issue. Solar-powered portable power plants are an alternative, but they are susceptible to the effects of extreme conditions such as heavy rainfall, storms, earthquakes, and lightning, which can increase charging times and hinder market growth during power failures and outages.
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 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
Companies 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 companies, 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. The portable power station market is experiencing significant growth due to the increasing demand for low-cost energy storage solutions. Lithium-ion batteries, driven by the lithium market, are a key component in this sector. Energy storage cells are assembled and packaged for use in portable power stations, which find applications in various industries. Restraining factors include the high cost of compact diesel and fuel generators, but the market is expected to expand due to the growing popularity of portable power stations in camping areas, sports vehicles, troop deployments, RVs, and campervans. Energy-intensive appliances such as water heaters, satellite T and internet switches, coolers, telephones, workstations, portable generators, microwaves, fans, electric pots, toaster ovens, and capacity expansion in off-grid power and emergency/backup power segments are driving the market.
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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. Portable power stations are also used for outdoor recreational activities and powering smartphones and tablets. The off-grid power segment and emergency/backup segment are expected to dominate the market. 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.
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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.
The portable power station market in Asia Pacific (APAC) is experiencing significant growth due to the increasing demand for low-cost energy storage solutions in response to urbanization and population growth. This demand is driven by the need for electricity in residential, commercial, and small-scale industrial sectors, as well as for energy-intensive appliances and off-grid power applications. Lithium-ion batteries, a key component of portable power stations, are in high demand due to their compact size, long life, and high energy density. The lithium market is expected to grow in tandem with the portable power station market. Restraining factors for market growth include the high cost of lithium-ion batteries and the availability of alternative power sources such as compact diesel and fuel generators. However, the increasing popularity of portable power stations for outdoor recreational activities, emergency backup power, and powering electronics such as smartphones and tablets is expected to drive market growth. Applications include camping areas, sports vehicles, RVs, campervans, and powering energy-intensive appliances such as water heaters, satellite T, internet switches, coolers, telephones, workstations, portable generators, microwaves, fans, electric pots, toaster ovens, and capacity up to 20 kW. The off-grid power segment and emergency/backup segment are expected to dominate the market.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
Market Analyst Overview
In the contemporary world, the reliance on electronic devices has significantly increased, leading to an escalating demand for portable power solutions. Enter the Portable Power Station market, a burgeoning industry that offers consumers the convenience of having a power source on-the-go. These devices, equipped with lithium batteries and capable of delivering Consumers, Markets, Power, Technology, and Devices (CMPTD) are becoming increasingly popular. Portable Power Stations come in various capacities, from 100 watts to over 2000 watts, catering to diverse needs. They are designed to charge smartphones, laptops, cameras, and even larger appliances like refrigerators and air conditioners. Brands like Goal Zero, Jackery, and Bluetti are leading the charge in this sector, offering features such as solar compatibility, multiple charging ports, and long battery life. The Portable Power Station market is expected to grow at a CAGR of 15.3% between 2021 and 2026, driven by the rising demand for off-grid power solutions and the increasing popularity of renewable energy sources. With the world becoming more connected and reliant on technology, the need for portable power solutions is only set to increase.
Portable Power Station Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.59% |
Market growth 2023-2027 |
USD 179.21 million |
Market structure |
Fragmented |
YoY growth (%) |
8.08 |
Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, Saudi Arabia, China, Australia, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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 |
Market dynamics |
Parent market analysis, market forecasting, 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 market forecast period. |
Customization purview |
If our market research 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
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