Portable Power Station Market 2022 Net Worth is US$ 439.3 Million and Forecasts by 2029 | Top Key Companies are: GOAL ZERO, BLUETTI Power In, Jackery, EcoFlow, Suaoki, Lion Energy, Shenzhen Sungzu Technology Co., Ltd

Portable Power Station Market 2022-2029

New study report" Portable Power Station Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2029″ has been added to Fortune Business Insights.

Market Overview:

At the beginning of a recently published report on the Portable Power Station Market 2022-2029, extensive analysis of the industry has been done with an insightful explanation. The overview has explained the potential of the market and the role of key players that have been portrayed in the information that revealed the applications and manufacturing technology required for the growth of the Portable Power Station market.

The global portable power station market size is projected to reach USD 439.3 million by 2029, exhibiting a CAGR of 8.7% during the forecast period. The market stood at USD 238.1 million in 2020 and estimated to reach USD 244.5 million in 2022.

Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the market during the forecasting period of 2022 to 2029. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the market place and value. Various distinctive features involve the market's knowledge based on the factors like the demographic changes, market dimensions, historical details, and market overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets. Moreover, these key players affect the market growth and the profit rate of the overall market. In this report, the internal dimensions and assessments of the Portable Power Station market are revealed. The study of the Portable Power Station market's description has been taking place during the 2022 period and the last year of the foreseen period that extends to 2029.

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List of Key Players Covered in the Portable Power Station Market Report:

GOAL ZERO
BLUETTI Power In
Jackery
EcoFlow
Suaoki
Lion Energy
Shenzhen Sungzu Technology Co., Ltd
iForway
Lipower Technology Co., Ltd
Duracell Inc.
Anker Technology Ltd

COVID-19 Impact:

Declining Electronics and Electrical Industry to Impede Market Growth

This market is expected to be negatively affected during the COVID-19 pandemic because of the closure of several electronics and electrical facilities. The alarming spike in COVID-19 infections has led to the imposition of stringent lockdown norms, which, in turn, may affect several industries globally. The lack of raw materials and disruptions in the supply chain may negatively affect product sales. Restrictions on manufacturing activities may lead to a product shortage, which, in turn, can reduce sales. However, the adoption of technologically advanced production machinery and advanced sanitization methods may enable manufacturers to boost their sales and improve their market position. This factor may propel industry growth during the pandemic.

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Drivers & Restraints:

Increased Camping Activities and Lithium-ion Battery Cost Reduction to Bolster Industry Progress

The spike in camping activities such as trekking, fishing, climbing, and others in North America is expected to boost the product adoption. For example, according to the information provided by the North American camping report 2021, the number of households who participated in hiking activities reached 48.2 million in 2020, and the number of active households participating in the activities in the U.S. was 86.1 million, which is a significant increase in number compared to 71.5 million in 2014. Further, the reduction of rechargeable lithium-ion battery prices is likely to fuel the product adoption. Lithium batteries are highly efficient, provide longer battery life, and last longer compared to lead-acid batteries. As per the information issued by Bloomberg NEF, lithium-ion battery's cost witnessed a decline of USD 156 per kilowatt per hour compared to USD 1,183 kWh/hr in 2010. Lithium-ion batteries are used extensively in smart devices and require effective rechargeable power, which, in turn, may fuel power stations' adoption. These factors are expected to drive the growth of the portable power station market growth.

Market Segmentation:

Off-grid Power Segment to Gain High Market Share

By application, the market is segmented into emergency/ backup and off-grid power. As per power source, it is bifurcated into single power source and hybrid power source. Based on capacity, it is classified into 1,500 Wh and above, 500Wh to 1,499Wh, and less than 500Wh. Regionally, it is grouped into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.

Regional Insights:

Rising Adoption of Consumer Electronics to Facilitate Market Growth in North America

North America is expected to dominate the portable power station market share because of the rising adoption of consumer electronics. The market in North America stood at USD 101.8 million in 2020 and is projected to grow positively during the upcoming years. Further, increasing outdoor and camping activities is expected to boost market development. In addition, evolving buying preferences and demand for advanced products and solutions are likely to fuel market development.

Asia-Pacific is the second-largest market shareholder because of rising power outages in developing countries. Further, the rising tourism activities lead to the adoption of portable power solutions in the region. In addition, the adoption of emergency backups is likely to fuel market growth.

In Europe, positive growth in the electronics and power industries is likely to increase the product adoption. In addition, the dominance of Germany, France, and the rest of Europe is expected to boost market progress.

Key Industry Development:

July 2021 - U.S.-based company EcoFlow launched a battery-powered portable power station followed by a crowdfunding campaign on its Kickstarter platform. According to the company, the EcoFlow Delta Pro system can be expanded up to 25 kWh and be fully charged in under two hours.

Major Table of Content:

Introduction
Executive Summary
Market Dynamics
Key Insights
Portable Power Station Market Analysis, Insights and Forecast, 2022-2029
North America Portable Power Station Market Analysis, Insights and Forecast, 2022-2029
Europe Portable Power Station Market Analysis, Insights and Forecast, 2022-2029
Asia Pacific Portable Power Station Market Analysis, Insights and Forecast, 2022-2029
Middle East and Africa Portable Power Station Market Analysis, Insights and Forecast, 2022-2029
Latin America Portable Power Station Market Analysis, Insights and Forecast, 2022-2029
Market Share Analysis, By Key Players, 2022
Competition Matrix
Company Profile

Continue….

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