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Portable Power Station Market to Grow $494 Million by 2026 | Goal Zero, Jackery, Duracell, Milwaukee Tool, Anker Technology, Bluetti, EcoFlow, and Lion Energy.

09-15-2021 07:16 AM CET | Energy & Environment

Press release from: MarketsandMarkets

Portable Power Station Market to Grow $494 Million by 2026 | Goal

The global Portable Power Station Market size is expected to grow from an estimated USD 358 million in 2021 to USD 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.

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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.

The off-grid segment is expected to be the fastest-growing market segment in 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

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.

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North America is expected to be the largest 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).

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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