ID: MRFR/E&P/8601-HCR | 111 Pages | Author: Anshula Mandaokar | June 2023
Global Portable Power Station Market will grow at a CAGR of 8.14%, valuation of USD 735.88 Million by Growing demand is increasing in the use of smart devices is expected to drive global market during 2022 to 2030.
Many factors are driving the growth of the global Portable Power Station Market With the rapid increase in the use of gadgets such as smartphones and smartwatches and the rising need for an uninterrupted power supply for automotive, emergency power, and off-grid power, the Portable Power Station Market will have consistent growth in the coming years.
The Portable Power Stations are used to provide energy by capturing, storing, and sustainably supplying electricity. It is possible to integrate renewable energy into portable power stations. Electricity is supplied in a plug-and-play method using portable power stations. Portable power stations are capable of providing extra energy.
The outbreak of the COVID-19 analysis had impacted the Portable Power Station Industry negatively. Strict lockdown measures were implemented in most countries across the world. Due to strict travel restrictions, investments in recreational activities decreased significantly. As most people were spending maximum time in their homes, the need for portable power stations declined sharply.
The outbreak of COVID-19 had affected the availability of raw materials for this sector. Due to the temporary closure of manufacturing units, non-availability of the workforce, and logistics problems, the Portable Power Station Market faced hindrances. In the post-pandemic period, the market is expected to rise and the market is expected to grow at the forecasted growth rate.
Across the globe, there is a surge in the usage of smart electronic devices. This has increased the demand for portable power stations. Additionally, the need for uninterrupted power in many application areas has also increased the demand for Portable Power Stations.
The longer charging time and high cost of setting up battery-enabled portable power stations are the main restraints to the growth of the Portable Power Station Industry.
The rapid surge in the use of smart grid services, increased usage of power in remote areas, and inclination toward renewable energy sources are the major factors to create opportunities for the Global Market during the forecast period.
Lack of awareness and unavailability of proper setups in underdeveloped regions are the challenges for the future growth of the portable power station market.
Based on the Market Analysis, the report indicates that the market is expected to grow at a CAGR of 8.14 % by 2030. According to this report, the Portable Power Station Market will achieve revenue of USD 735.88 Million during the forecast period (2022-2030).
Increasing concerns about ill-effects of harmful gases, significant investments made by the key players, adoption of advanced technologies, increasing use of electronic gadgets of all types, etc. are factors to boost the growth of the Portable Power Station Industry across the globe.
As the rate of urbanization is high across the world, this has led to the continuous demand for portable power stations. Due to their ease of use and a wide array of applications, the Global Market is expected to grow at a considerable rate during the forecast period.
The global Portable Power Station Market is very big. It is segmented based on application, the technology used, operation type, capacity type, and region.
Based on the region, the Portable Power Station Market is fragmented into North America, Europe, Asia Pacific, South America, and Africa & Middle East. The largest market share is occupied by the North American region as this region is the location of most of the portable power station manufacturers. The consistent increase in the use of smartphones and other smart gadgets is the driving factor for the market growth.
Europe is also growing at a very fast rate. Due to strict government initiatives to curb carbon emissions, increasing awareness about the ill-effects of conventional power sources, and increasing use of electronic gadgets and E-vehicles, the Portable Power Station Industry in the European region is expected to show steady growth during the forecast period.
Most of the major players are going for acquisitions, new agreements, partnerships, and investing in research and development projects to expand their business portfolio. For example, Jackery(US) and Honda(Japan) have signed an agreement to launch portable solar units.
The overview of the Portable Power Station Market Report is given here. The report includes the following important points:
The Portable Power Station Market Report presents all the important aspects of this market.
Due to the increased usage of smart electronic gadgets, high disposable income, increasing awareness of people towards reduction of carbon emission, and strict government initiatives, the Global Market is expected to grow rapidly in the coming years.
The Portable Power Station Market Outlook provides information like market segmentation, challenges, growth opportunities, CAGR, key players, revenue, market drivers, and challenges of the global Portable Power Station Market during the period 2022-2030.
|Market Size||2030: USD 735.88 Million|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Operation Type, Application and Capacity Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Goal Zero (US), Jackery (US), Lion Energy (US), Ecoflow (US), Li Power (Shenzhen) Technology (China), ChargeTech (US), Midland (US), Duracell (US), Drow Enterprise (China), Scott Electric (US), Suaoki (Japan), and Milwaukee Electric Tool (US)|
|Key Market Opportunities||longer charging times and the high cost of battery-powered portable power stations|
|Key Market Drivers||growing demand is increasing in the use of smart devices the requirement for uninterrupted power across applications|
The portable power station global market is predicted to grow at a 8.14% CAGR between 2022-2030.
The portable power station global market is predicted to reach USD 735.88 Million by 2030.
Key contenders profiled in the global portable power station market include Goal Zero (US), Jackery (US), Lion Energy (US), Ecoflow (US), Li Power (Shenzhen) Technology (China), ChargeTech (US), Midland (US), Duracell (US), Drow Enterprise (China), Scott Electric (US), Suaoki (Japan), and Milwaukee Electric Tool (US).
Burgeoning demand for smart electronic devices is driving the global portable power station market growth.
North America will lead the global portable power station market.
Key Questions Answered
Why Choose Market Research Future?