Press release
Exponential Growth Predicted For Portable Power Station Market by 2030
A portable power station is a battery-powered generator that can be used to charge various devices, such as fans, mobile phones, computers, and other electronic devices. Charging capacity, minimal maintenance, safety and portability are the advantages of these portable power station. In recent years, the growth of the portable power station market has grown significantly, thanks to the increase in the use of smart devices, the aging of the network infrastructure and the increase in the use of energy in remote areas.The main factors driving the growth of the global market are the increasing demand for smart devices (including smartphones and smart watches), as well as the demand for uninterruptible power supplies for applications such as emergency power supplies, automobiles and off-grid power supplies. However, the longer charging time and high cost of portable power stations are factors that are restraining the global portable power station market growth.
Global portable power station market size was valued at $3.9 billion in 2020, and is projected to reach $5.8 billion by 2030, growing at a CAGR of 4.1% from 2021 to 2030
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The portable power station market analysis has been done into capacity, application and region.
By capacity, the 501-1,000 Wh segment is expected to hold the largest market share during the forecast period.
By application, the market is divided into emergency power, off-grid power and automotive. The off-grid power segment is estimated to grow at the fastest rate during the forecast period due to the increasing use of smartphones and also increase in camping and other recreational activities.
By region, North America holds the largest market share as the region houses major portable power station companies, especially in the US. Moreover, increasing use of smart electronic devices is driving the growth in this region.
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The major companies profiled in this report include Anker Technology, Bluetti, Duracell, EcoFlow, Goal Zero, Jackery, Lion Energy, Milwaukee Tool, Scott Electric, and Suaoki. The players in the market have adopted several strategies, such as product launch and business expansion, to sustain the market competition.
Covid-19 scenario:
• As the governments imposed strict regulations regarding social distancing and lockdown, people remain isolated in their homes, which negatively affected the tourism industry and air travel. Moreover, several countries closed their borders to curb the spread of the virus. This reduced camping activities, affecting the demand for portable power stations.
• Moreover, prolonged lockdown across several regions hampered the manufacturing of electronics devices and disrupted the supply chain.
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