The portable power station market size is expected to grow from USD 211.03 million in 2021 to USD 295.91 million in 2028; it is expected to expand at a CAGR of 4.9% during the period 2021-2028.
NEW YORK, Feb. 24, 2022 /PRNewswire/ — Insight Partners has published a report on “Portable Power Station Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Type (Direct Power & Solar), Capacity ( up to 500 Wh, 500-1500 Wh and above 1500 Wh), application (emergency power, off-grid power, etc.), battery type (sealed lead-acid and lithium-ion)”.The growth of the portable power station market is driven by the rising awareness of the adoption of portable power stations during power outages in rural and urban areas across the globe and the growing popularity of outdoor and camping activities.
United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, Korea, Saudi Arabia, Brazil, Argentina
Midland Broadcasting Corporation; ALLPOWERS Industrial International Co., Ltd.; Charging Technology; Eco-Flow; Zhuoer Enterprise Co., Ltd.; Duracell Corporation; Zero Target; Jackley Corporation; Shenzhen Chuangfang Technology Co., Ltd.; Power Products is one of the key players profiled in this market study.Furthermore, several other significant Portable Power Station market players are also studied and analyzed to gain a comprehensive understanding of the market and its ecosystem.
In 2021, EcoFlow was recognized by Time Magazine for its pioneering product development, and its EcoFlow DELTA Pro portable household battery was named one of the 100 Best Inventions of 2021 by the prestigious media.
In 2021, the Chargetech PLUG Pro is a portable power supply that can power any gadget or appliance.This product features 2 international AC power outlets, 2 fast charging USB ports and 1 USB Type-C port.
The global portable power station market is segmented into five regions – North America, Asia Pacific, EMEA, and South America.Market growth is driven by increasing usage of smart grid services, aging grid infrastructure, and increasing electricity usage in remote areas.Developing countries ensure access to electricity in remote areas.Traditional centralized networks cannot provide essential electricity to underserved areas in a timely and cost-effective manner.The portable power station market in developing countries is expected to grow during the forecast period owing to the potential for remote and decentralized power systems to supply power around the world.
North America is expected to account for a significant share of global portable power stations from 2020 to 2030 owing to high electricity consumption, stringent federal policy directives and regulations regarding greenhouse gas emissions, rising energy costs, and growing awareness of the benefits of portable power stations in the region year’s market.Recreational and camping activities, such as fishing and hiking, are becoming more popular, especially in North America.As the need for connectivity grows and millennials opt for camping, there is a need for a variety of tech devices such as laptops, cell phones, rechargeable mountaineering headlamps, camping lights, refrigerators and cool backpacks.All of these technologies require electricity to function, expanding the potential of portable power stations.The portable power station market is likely to grow rapidly over the European market forecast period owing to increasing number of consumer electronics manufacturers and growing demand for backup backup power solutions in Europe.
Asia Pacific is expected to dominate the global portable power station market from 2020 to 2030 owing to increasing investments and improvements in the renewable energy sector in the region, especially in China and India.According to the UN Environment Programme’s report on overall renewable energy investment in 2020, China leads the world in renewable energy investment ($91.2 billion).Investment in the country is expected to increase and the number of planned renewable energy projects to increase over the forecast period.
In 2020, the Asia Pacific region has extensive experience in the power industry, especially considering the impact of the COVID-19 pandemic.The impact of cost cuts on electricity demand was first seen in China, where demand fell sharply in the first three months of 2020.Other countries, such as India, Japan and Australia, saw significant declines in electricity demand in April and May when Chinese demand had already started to pick up.Coal dominates power generation in the Asia-Pacific region.However, as the governments of China, Japan and South Korea focus on meeting their clean energy goals and adopt ambitious net-zero carbon targets for 2050-60, the importance of renewables is growing.Compared to 2019, gas-fired power generation also declined, while the share of renewables remained or grew.The high focus on renewable energy in the region will help to expand the portable power station market.
China and India are the most prominent manufacturing hubs in the region and have a greater focus on industrialization.Despite the negative impact of social restrictions imposed during the COVID-19 pandemic, the industrial sector recovered in the second half of 2020 by increasing production capacity.During 2020-2021, the demand for advanced electronics such as smartwatches, smart wearables and healthcare machines will rise significantly.In addition, raw material transportation and manufacturing activities resume in 2021 as countries across the Asia-Pacific region ease lockdown restrictions and speed up the vaccination process.These conditions will drive the growth of the portable power station market in the region in the coming years.
On the basis of type, the portable power station market is segmented into direct power generation and solar power generation.The direct electricity segment is estimated to dominate the market during the forecast period.However, the solar energy market is expected to grow at a faster rate in the coming years owing to the rising awareness of renewable energy sources.
The direct power part refers to the direct charging of portable power stations.Electric power station, also known as battery portable power station, has the function of large battery.Users can plug the portable power source into the appropriate wall outlet and charge it quickly.Some portable power stations can also charge in a car outlet if the correct adapter is used, but this charging usually takes longer than charging through a standard outlet.Users should not plug a portable power station directly into a residential electrical system without installing a technician-supplied transfer switch.These power stations can also power household appliances, televisions, electronics and radios.Portable power stations with direct charging capabilities are not suitable for off-grid or remote areas, mountain trekking, forest travel and naval operations across maritime borders.Portable power stations that use direct power charging provide more stable and reliable power than portable power stations that use solar charging.
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Post time: Mar-08-2022
