Allied Market Research recently published a report, titled, “Portable Power Station Market by Capacity and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030”. As per the report, the global portable power station industry was accounting for $3.9 billion in 2020, and is expected to reach $5.8 billion by 2030, growing at a CAGR of 4.1% from 2021 to 2030.
The main factors driving the growth of the global market are the increasing demand for smart devices (including smartphones and smart watches), as well as the demand for uninterruptible power supplies for applications such as emergency power supplies, automobiles and off-grid power supplies. However, the longer charging time and high cost of portable power stations are factors that are restraining the global portable power station market growth.
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The portable power station market analysis has been done into capacity, application and region.
By capacity, the 501-1,000Wh segment held the largest share in 2020, accounting for nearly two-fifths of the global portable power station market, due to increase in demand for additional power capacity and charging electronic appliances with high power requirements across North America, Europe, and Asia-Pacific regions. However, the 1,500Wh or more segment is expected to manifest the highest CAGR of 4.6% during the forecast period, due to its usage in various applications, including off-grid power.
By application, the off-grid segment is projected to register the highest CAGR of 4.3% during the forecast period, due to rise in demand for smart electronic devices such as laptops and smartphones. However, the emergency use segment held the largest share in 2020, contributing to nearly three-fourths of the global portable power station market, as manufacturers have been lowering prices of batteries and equipment.
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By region, the market across North America held the largest share in 2020, accounting for nearly two-fifths of the market, as the U.S. is the largest portable power station market in the world. However, the global portable power station market across Asia-Pacific is anticipated to showcase the highest CAGR of 5.0% during the forecast period, owing to rise in use of smart electronics and the increased number of incidences of power outages in countries such as China, India, and Japan.
The major companies profiled in this report include Anker Technology, Bluetti, Duracell, EcoFlow, Goal Zero, Jackery, Lion Energy, Milwaukee Tool, Scott Electric, and Suaoki. The players in the market have adopted several strategies, such as product launch and business expansion, to sustain the market competition.
Get detailed COVID-19 impact analysis on the Portable Power Station Market
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Impact of COVID-19 on the global portable power station market
As people remain isolated in their homes, COVID19 continues to have a major impact on tourism and air travel globally. Closed destinations and hotels, as well as travel restrictions, camping and outdoor recreation will affect travel and tourism. According to data from the World Tourism Organization (UNWTO), all tourist destinations in the world have implemented travel restrictions, 97 destinations (45%) have totally or partially closed their tourist borders, and 65 destinations (30%) have been totally or International flights partially suspended, and 39 destinations (18%) are closing borders, prohibiting passengers from certain countries of origin. COVID19 has already affected the Asia-Pacific region, Europe, the Middle East, and North America. Additionally, impact of COVID-19 on camping and other outdoor portable power station market industry affecting the sales. The above restrictions have directly impacted the portable power station market globally.
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