Portable Power Station Market worth US$494 million by 2026
The global portable power station market size is expected to grow from an estimated US$358 million in 2021 to US$494 million by 2026, at a CAGR of 6.7 %.
The drivers for this market are the increasing use of smart electronic devices, growing demand for uninterrupted and reliable power, and stringent emission rules across regions such as Asia Pacific, North America, South America, Europe, and Middle East & Africa.
The market is segmented by power source, technology type, capacity, application, sales channel, and region.
By power source, hybrid power is expected to dominate the portable power station market
The market is segmented by power source into hybrid power and direct power. Hybrid power accounted for the larger share of the portable power station market in 2020. The key advantage of using hybrid power is that it can be used at remote or off-grid locations, where direct power access is limited or non-existent.
Solar power charging in hybrid power is predominantly used to charge portable power station equipment for campsites and recreational vehicle activities. Moreover, several major manufacturers are offering both solar charging-enabled portable power stations and portable power stations with direct power charging capability for powering electronic equipment during power outages and grid blackouts.
By application, off-grid is expected to dominate the portable power station market
The off-grid power segment is estimated to account for the largest share in 2021, and this trend is expected to continue during the forecast period.
The growth of this application is mainly driven by the increasing number of camping and outdoor recreational activities in regions such as North America, Europe, and Asia Pacific
By technology type, lithium-ion is projected to have a higher growth rate in the portable power station market
The market is segmented by technology type into lithium-ion and sealed lead-acid. The lithium-ion segment is estimated to lead the market and is also expected to register a higher CAGR.
The increasing need for high durability, high energy density, and faster charging, and availability of lithium-ion at affordable prices drive the growth of this segment.
North America is expected to dominate the global portable power station market
North America was the largest portable power station market in 2020, driven mainly by power outages, increasing use of smart electronic devices, and the growing number of camping and outdoor recreational activities in countries such as the US, Canada, and Mexico.
Portable power stations are being increasingly implemented to effectively power smart electronic devices during such events so that people can stay connected.
To provide an in-depth understanding of the market’s competitive landscape, the report includes the profiles of some of the top manufacturers in the portable power station market.
These players include Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Bluetti (US), EcoFlow (US), and Lion Energy (US).
Source: Global Energy World