Portable Power Station Market Trends, Industry Expansion Strategies and Global Analysis by Forecast to 2031

The global portable power station market is on the rise, projected to reach USD 554.4 million by 2028. According to a recent study by strategic consulting and market research firm, Report Ocean, the market reached USD 359.4 million in 2021, and is expected to grow at a CAGR of 6.4% during the forecast period of 2022-2028. The market's growth is being driven by a variety of factors, including the increasing demand for walkie-talkies, growing recreational activities, rising tourism to camping facilities, and the booming EV industry

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Rising number of electric vehicles driving the demand for portable power stations

Over the past few years, electric vehicles have become increasingly popular worldwide. As outlined in the Global EV Outlook Report of 2021, EV sales grew by 43% in 2020, reaching 10 million as against 2019, despite the COVID-19 pandemic. China happens to be the biggest country in the EVs sector in terms of sales, with an estimated 4.5 million electric cars running on the roads in 2020. As against this, Europe registered the highest annual increase by registering 3.2 million in sales in just a year. Since electric vehicles are powered by electricity, they may run out of power in the middle of nowhere, which offers great opportunities to the global portable power station market. However, the number of EV charging stations is stagnant, leaving consumers with no choice but to look for alternatives, such as portable power stations of higher capacities, which has become a driving factor for the growth of the global portable power station market.

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Online segment occupied the largest market share in the sales channel category

There are two main sales channels for the global portable power station market online and offline. The online portable power station sales channel has garnered the maximum share in the global portable power station market in 2021. The pandemic has played a major role in boosting the demand for such electronic devices via online channels, which further augmented the segments growth. According to UNCTAD (United Nations Conference on Trade & Development), United States recorded a jump of 3% in online retail sales for 2018-2020, whereas South Korea registered a growth of 5.1% for the same period, indicating the rapid growth in online sales channel, thus demonstrating a growing potential for the segment in the coming years.

Global Portable Power Station Market: Regional Insights

The global portable power station market is segmented into five regions North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among these regions, North America held the largest share in the global portable power station market in 2021. In contrast to this, Europe is anticipated to register the fastest CAGR in the coming years. The U.S. houses a large number of manufacturers and consumers due to the widespread use of direct power stations, which enable portable power stations to be charged even in remote areas. However, with the increasing number of adventure sports and tourists flocking to Romania, which saw an increase from 11,7 million to 12,8 million in 2018-2019, Europe is also gaining ground as the fastest-growing market, thus driving the global portable power station market.

COVID Impact Analysis - Global Portable Power Station Market

The COVID-19 pandemic has negatively impacted the global portable power station market. As people were not able to leave their homes due to the nationwide lockdowns imposed by different countries, the investments directed toward recreational activities declined sharply. In addition to this, it led to a reduced demand for online sales of portable power stations as people didnt require to charge their devices as they were spending the majority of the time at home. Furthermore, the production of raw materials used for manufacturing portable power stations has been negatively impacted as factories were forced to shut down as a result of government orders. However, in 2021, the consumption of such devices grew significantly in tandem with some relaxations for the production facilities, as well as fully vaccinated people, which allowed people to begin hiking and other recreational activities with their families, while leading to the growth of the global portable power station market.

The leading players in the global portable power station market are Jackery Inc., ChargeTech, EcoFlow Inc., Duracell Inc., Genius Media Group Inc., Li power Shenzhen technology Co. Ltd., LionEnergy LLC, Goal Zero LLC, Scott Electric Corp., Midland Radio Corp., Anker Innovations Technology, Bluetti Power Inc., VTOMAN Technology, Milwaukee Electric Tool Corporation, and other prominent players. The global portable power station market is moderately fragmented in nature with numerous players specialized in the production of such electronic devices. In addition, the presence of multiple industry players has led to a growing competition in the global portable power station market.

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Market Segment:

By Power Type (Direct, Hybrid)
By Capacity (Below Or Equal To 250 WH, 500 1000 WH, 1000 1500 WH, Above Or Equal To 1500 WH)
By Application (Emergency Power Supply, Off-Grid Power Supply, Automotive Charging, Defense, Others)
By Sales Channel (Online, Offline)
By Region (North America, Europe, The Asia-Pacific, The Middle East & Africa, And Latin America
In October 2021, VTOMAN Technology, which happens to be an R&D provider for portable power solutions, announced the launch of Jump 1500, the world's first ever portable power station equipped with extra battery backup and 12V jump starter. The device is anticipated to augment the battery capacity to an astronomical 3096 Wh by connecting it to a secondary battery.

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