Portable power stations help provide long-term power supply & additional electricity throughout the peak shifting while offering support to the grid networks whenever there is an urgent requirement. They are also beneficial during the time of power outages.
A recent research report has cited around 7.2% CAGR for the Global Portable Power Station Market during 2022-27, and it attributes to the rising usage of consumer electronics devices worldwide. Additionally, the high reliability & battery capacity, coupled with the competitive prices of these stations, are other crucial factors that would promote their demand in the coming years.
Further, the demand for portable power stations is expected to grow with the burgeoning demand for continuous power supply in remote locations. Moreover, the rising trend of outdoor recreational activities and camping fuels the demand for portable power stations. Also, at places where power outrage is frequent due to natural disasters, the demand for portable power stations is expected to significantly increase.
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The burgeoning demand for portable power stations also attributes to the growing developments and enhancement for the usage of smart electrical devices owing to which the market has experienced incremental growth in the past few years and this demand growth is further supported by rising demand for continuous power supply solutions from the areas where power outrage is frequent due to natural disaster. Moreover, the rising expenditure for developing high-capacity power stations is creating the scope of the demand growth portable power station in the emerging markets.
The leading industry players in the Global Portable Power Station Market Are Goal Zero, Jackery, Lion Energy, Ecoflow, Li Power (Shenzhen) Technology, Chargetech, Midland, Duracell, Drow Enterprise, Suaoki, Scott Electric, Milwaukee Tools, Anker Technology, Bluetti, and Allpowers Industrial International.
Based on the Technology, the market bifurcates into Lithium-Ion and Sealed Lead-Acid. Of both, the affordability of lithium-ion portable power stations is aiding its demand. Further, it reduces the operational cost of the portable power station. Also, lithium-ion portable power stations have higher electrical efficiency. It also helps in minimizing the operational cost of the portable power station. Moreover, Lithium-ion portable power station is lighter in weight and poses higher electrical efficiency as compared to the lead-acid portable power station.
Geographically, amongst all regions, North America attained the largest share in the Portable Power Station Market and is expected to remain at the leading position during the forecast period, mainly due to the increasing use of consumer electronics in the US & Canada, coupled with stringent regulations regarding greenhouse gas emissions in the region.
On the other hand, Asia-Pacific is expected to witness substantial market growth during 2022-27, primarily due to the burgeoning usage of smart electronics coupled with the increasing population. In addition to this, a rising inclination towards renewable energy sources in countries like India and China is expected to fuel the market growth in the Asia Pacific.
Portability and uninterrupted power supply are the major characteristics of portable power stations promoting their demand. With the burgeoning need to stay connected and the rising trend of camping, the demand for electronic devices like smartphones, laptops, rechargeable trekking head torches, and camping lamps is increasing significantly. All these devices need a power backup to keep them working, which provides lucrative opportunities to drive the Portable Power Station market.