GLOBAL PORTABLE POWER STATION MARKET IS EXPECTED TO FORESEE SIGNIFICANT GROWTH. NORTH AMERICA TO LEAD THE GROWTH
Global Portable Power Station Market is expected to reach the market valuation of US$ 534.4 million by 2027 expanding at a reasonable CAGR of 6.91% during the forecast period (2021-2027) from US$ 318.6 million in 2020. A portable power station is a battery-powered generator that may be used to charge various devices such as fans, cell phones, computers, and other electronic equipment. Recharge ability, minimal maintenance, safety, and portability are all advantages of these portable power stations.
The growth of Portable Power Station Market expanded significantly over recent years, underpinned by increasing usage of smart devices, aging electricity grid infrastructure, and increasing usage of power in remote areas for power. For instance, as per Statista IOT devices worldwide is forecast to almost triple from 8.74 billion in 2020 to more than 25.4 billion IoT devices in 2030.
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Areas frequented by power outages caused by natural disasters are expected to be a lucrative market for portable power stations. People are willing to pay for these generators for charging smartphones capable of calling emergency responders. Also, the need for reliable survival gear in treks and areas with low power can drive the demand for portable power stations. Manufacturers in the market are increasing the capacity of these generators by providing extra outlets for charging more devices.
Based on the power type, the Global Portable Power Station market is bifurcated into Direct Power and Hybrid Power. The Hybrid segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027 because it can be used at remote or off-grid locations, where direct power access is limited or non-existent. Solar power charging in hybrid power is predominantly used to charge portable power station equipment for campsites and recreational activities & several major manufacturers are offering both solar charging-enabled portable power stations and portable power stations with direct power charging capability for powering electronic equipment during power outages and grid blackouts
For a detailed analysis of the Covid-19 Impact on the Market browse through – https://univdatos.com/report/portable-power-station-market
On the face of it, the power generation sector has remained relatively unscathed by the global coronavirus pandemic – plants continue to generate electricity and the lights remain on. However, if we look closely it is having a significant impact, with many power projects in development or construction stalled. Lockdowns have affected supply chains, with some slowing and others suffering indefinite delay. The specific issues and magnitude of the impacts differ across projects and technologies. The pandemic has highlighted the downside of producing key equipment in just a few locations. Another interrelated factor of COVID-19 is its impact on global tourism and air travel as people have been homebound. Closed destinations and hotels and restrictions on travel, camping, and outdoor recreational activities has impacted travel and tourism. For instance, as per World Tourism Organization (UNWTO), as of April 2020, all tourist destinations worldwide have introduced travel restrictions, 97 destinations (45%) have totally or partially closed their borders for tourists, 65 destinations (30%) have totally or partially suspended international flights, and 39 destinations (18%) are closing borders by banning the entry of passengers from specific countries of origin. The above restrictions have directly impacted the portable power station market globally as its major market is related to travelling activities of the population. However, areas with frequent blackouts are commanding a huge demand for portable power stations to survive the pandemic.
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Additionally, the report provides detailed initiatives that are being taken in the field of Portable Power market. The market is classified into distinct regions including North America, Europe, Asia Pacific, and the Rest of World. North America dominated the Global Portable Power Station Market, accounting for nearly xx% share in 2020 as the region houses major portable power station companies, especially in the US & has many camping & recreational activities market.
Global Portable Power Station Market Segmentation
Market Insight, by Power Type
- Direct Power
- Hybrid Power
Market Insight, by Technology Type
- Sealed Lead Acid
Market Insight, by Capacity Range
- Less than 500 Wh
- 501-1,000 Wh
- 1,001-1,500 Wh
- 1,500 Wh and above
Market Insight, by Application
- Emergency Power (Residential & Commercial end user)
- Off-grid Power
Market Insight, by Region
- North America
- Asia Pacific
- Rest of World
Top Company Profiles
- Goal Zero
- Jackery Inc.
- Duracell Inc.
- Lion Energy
- Milwaukee Tool
- Anker Technology
- Scott Electric