Press release
Global Portable Power Station Market Growth Outlook for 2022-2028
Portable Power Station Market
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The research report by Triton highlights that the global portable power station market is anticipated to progress at a CAGR of 5.4% throughout the forecast period 2022-2028.
In recent times, camping has become a popular outdoor recreational activity with millions of people participating. It involves travelers camping in recreational vehicles, automobiles & tents, and backyards. Portable power stations can be used in camping activities to power portable fridges, mobiles, laptops, rechargeable trekking headlights, camping lamps, etc. Thus, a rise in people engaging in outdoor recreational activities is anticipated to contribute to the portable power station market's growth.
However, as electrical outlets might not be available everywhere for charging portable power stations, people prefer using portable fossil fuel generators.
Additionally, these stations are expensive compared to generators due to the high cost of batteries. Therefore, the abovementioned factors are anticipated to restrain the portable power station market growth.
The portable power station market is divided into usage type, battery type, capacity range, and power source type. The usage type segment consists of emergency power, off-grid power, and other usage types. Based on battery type, the market is segmented into lithium-ion batteries and sealed lead-acid batteries. The capacity range segment includes below 500 Wh, 501-1500 Wh, and above 1500 Wh. Lastly, the power source type segment includes direct power and solar power.
North America is anticipated to witness the fastest growth in the global portable power station market. In Canada, the studied market is driven by the rising penetration of consumer electronics, especially for smart devices with improved performance, and the need for increased connectivity. Additionally, portable power stations are used in hospitals for power backups during emergencies. Thus, the aforementioned factors contribute to the growth of the studied market in the region.
The established players in the market include Suaoki, Duracell Inc, Midland Radio Corporation, Lion Energy LLC, Scott Electric, Bluetti, Chargetech, Goal Zero, Hyundai Power Products, EcoFlow, Drow Enterprises Co Ltd, AllPowers Industrial International Co Ltd, Shenzhen Chafon Technology Co Ltd, Jackery Inc, and Anker Technology.
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Question & Answer: Portable Power Station Market
Question 1: What factors contribute to the portable power station market's growth?
Answer: In recent times, camping has become a popular outdoor recreational activity with millions of people participating. It involves travelers camping in recreational vehicles, automobiles & tents, and backyards. Portable power stations can be used in camping activities to power portable fridges, mobiles, laptops, rechargeable trekking headlights, camping lamps, etc. Thus, a rise in people engaging in outdoor recreational activities is anticipated to contribute to the portable power station market's growth.
Question 2: What factors are anticipated to restrain the global portable power station market's development?
Answer: As electrical outlets might not be available everywhere for charging portable power stations, people prefer using portable fossil fuel generators. Additionally, these stations are expensive compared to generators due to the high cost of batteries. Therefore, the abovementioned factors are anticipated to restrain the portable power station market growth.
Question 3: Which region dominates the global market?
Answer: North America is anticipated to witness the fastest growth in the global portable power station market. In Canada, the studied market is driven by the rising penetration of consumer electronics, especially for smart devices with improved performance, and the need for increased connectivity. Additionally, portable power stations are used in hospitals for power backups during emergencies. Thus, the aforementioned factors contribute to the growth of the studied market in the region.
Question 4: Which are the established players in the global portable power station market?
Answer: The established players in the market include Suaoki, Duracell Inc, Midland Radio Corporation, Lion Energy LLC, Scott Electric, Bluetti, Chargetech, Goal Zero, Hyundai Power Products, EcoFlow, Drow Enterprises Co Ltd, AllPowers Industrial International Co Ltd, Shenzhen Chafon Technology Co Ltd, Jackery Inc, and Anker Technology.
Related Report:
Global Battery Market - https://www.tritonmarketresearch.com/reports/battery-market
According to Triton Market Research's report, the global battery market is anticipated to surge at a CAGR of 15.68% during the forecast period 2022-2028.
The demand for consumer electronics has increased around the world. In addition, there has been growth in the shipments of wearable devices across the globe. The increased demand for and adoption of such consumer electronic devices is anticipated to enhance the demand for batteries, thereby promoting market growth throughout the forecast period.
In addition, the declining battery prices and the surging demand for energy storage systems are also expected to aid the battery market's growth. In contrast, factors such as volatility in the prices of raw materials used to manufacture batteries and issues pertaining to recycling are likely to affect the demand, thus hindering market progress over the forecast period.
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