Press release
Energy Anywhere: Portable Power Station Market Driving Convenience in the US
The global portable power station market is expected to grow from an estimated USD 0.5 billion in 2023 to USD 1.1 billion in 2028, at a CAGR of 18.4% during the forecast period.
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Some of the top companies operating in the US portable power station market include Goal Zero, Jackery, EcoFlow, Lion Energy, Milwaukee Tool, and Anker Innovations. Goal Zero, a global retailer and provider of electronic equipment, is under the umbrella of NRG Energy (NYSE: NRG). Offering a range of products, including portable power stations, cable products, lighting, kits, and solar panels, Goal Zero caters to various needs such as lights & lanterns and cords & adaptors. Their portable power stations are versatile, capable of being powered by both grid and solar energy, with capacities spanning from 1,500 Wh, focusing on off-grid power applications for camping and outdoor recreation. Jackery, based in California, offers outdoor and solar-ready power stations to enhance outdoor and mobile living experiences. Their portable power stations are designed to operate on direct and solar power, with foldable solar panels for easy transportation and use. With a significant presence in North America, Jackery distributes its products through various online retailers and direct retail outlets, bolstering its strong online presence.
These companies are employing strategic initiatives such as collaborations, agreements, and contracts to bolster their portable power station product portfolios. In 2023, Jackery launched the Explorer 3000Pro portable power station, boasting a substantial battery capacity of 3024 Wh, catering to outdoor appliance needs. This product is rechargeable using both direct and solar power sources. In April 2023, Anker Innovations partnered with Oceana, a prominent ocean conservation advocacy organization. This collaboration aims to support Oceana's efforts to safeguard the world's seas, particularly in reducing plastic pollution, while advancing Anker's commitment to sustainable business practices. Anker will supply Oceana with mobile charging solutions, portable power stations, and solar panels for their research trips and outreach programs. Similarly, in 2022, Goal Zero teamed up with Yeti Cycles, a renowned manufacturer of high-performance mountain bikes. Goal Zero integrated its portable solar panels and power banks into Yeti Cycles' bikes and accessories, providing a reliable power source for off-grid riding as part of their collaborative efforts.
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The significant surge in portable power stations in the US stems from various critical factors. A notable uptick in demand for reliable and convenient power sources, particularly for outdoor recreational pursuits like camping, hiking, and RVing, has been evident. As more individuals embrace outdoor lifestyles, the necessity for portable power solutions has seen a sharp rise. Furthermore, the escalating frequency and severity of natural disasters have accentuated the need for backup power for emergency preparedness, where portable power stations offer a versatile and efficient solution for powering essential devices during blackouts or emergencies. Additionally, advancements in battery technology have paved the way for more efficient and affordable portable power options, broadening accessibility to a broader consumer base. With these driving forces, the US portable power station market is positioned for sustained growth in the foreseeable future.
According to the US Bureau of Economic Analysis, outdoor recreation activities, including camping, accounted for ~2.2% of the GDP or USD 563.7 billion in 2022. The camping industry in the country is experiencing growth, driven by Americans' widespread preference for outdoor experiences and an influx of younger and more diverse campers. The increasing number of millennials and young campers is a significant driver behind the growing popularity of camping in the country. Moreover, with about 302.28 million users in 2021, the United States stands as one of the global leaders in the electronics industry, further contributing to the momentum of portable power station adoption.
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