Press release
At CAGR of 4.9%, Portable Power Station Market is expected to grow from US$ 211.03 Million in 2021 to US$ 295.91 Million by 2028
Portable Power Station Market
According to our latest market study on "Portable Power Station Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Direct Power and Solar Power), Capacity (Below 500 Wh, 500-1500 Wh, and Above 1500 Wh), Application (Emergency Power, Off-Grid Power, and Others), and Battery Type (Sealed Lead Acid Battery and Lithium-Ion Battery)," the market was valued at US$ 211.03 million in 2021 and is projected to reach US$ 295.91 million by 2028; it is expected to grow at a CAGR of 4.9% from 2021 to 2028.
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Portable power stations are small-size battery-powered generators. The stations comprise different ports, jacks, and outlets to charge electronic devices, such as power tools, smartphones, tablets, and computer systems. These are also useful backup power sources during a power outage to keep the phones charged and other essential appliances running. The best portable power station for particular needs depends on many factors. However, it comes down to two cardinal factors-power delivery performance and power station price.
The power delivery performance and product price are where portable power station plays a significant role. The portable power stations are known as battery-powered inverter generators. The safe operations and easy installation of portable power stations for residential applications have boosted its adoption worldwide. Moreover, the rising awareness for the adoption of portable power stations during power outrages across rural and urban locations worldwide drives the market growth.
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Increasing Use of Portable Power Stations During Power Outages Drives Market GrowthPower outages have severe economic and social consequences on communities worldwide, particularly in developing countries. The modern lifestyle of people and the rising usage of consumer devices are the critical reasons for the growing dependence on power. The reliance on electricity limits the societal tolerances for power outages, highlighting the need to improve power grid resilience against natural disasters. Although outages are low-probability events, even one extreme event can be disastrous for infrastructure systems. Storms and intense weather conditions such as high gusts, searing heat, or freezing rain are the most common causes of power outages.
Portable Power Station Market: Competitive Landscape and Key Developments
Midland Radio Corporation; ALLPOWERS Industrial International Co., Ltd.; ChargeTech; EcoFlow; Drow Enterprise Co., Ltd.; Duracell Inc.; Goal Zero; Jackery Inc.; SHENZHEN CHAFON TECHNOLOGY CO., LTD; Lion Energy; and Hyundai Power Products are among the key players profiled during this market study. In addition, several other significant players are analyzed and studied during this market research study to get a holistic view of the global portable power station market and its ecosystem.
The players operating in the portable power station market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
• In November 2021, with the EcoFlow DELTA Pro portable home battery named in the prestigious media's 100 Best Inventions of 2021, EcoFlow has been recognized by TIME for its pioneering product development
• In January 2022, EcoFlow, portable power, and renewable energy solutions company, launched the DELTA Pro portable home battery in Europe. Being a Kickstarter campaign, the DELTA Pro smashed various records to become one of the most-funded tech projects.
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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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