Portable Power Station Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Portable Power Station Market was valued at US$ 318.6 million in 2020 and is anticipated to reach US$ 534.4 million by 2027 displaying a CAGR of 6.91% over the forecast period (2021-2027). 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. Other factors driving the growth of the Portable Power Station market globally are: Rising use of smart electronic devices, increasing usage of smart grid services & increasing usage of power in remote areas for power, and Technological shift toward renewable electricity generation and people’s need to be connected to uninterrupted power. Goal Zero, Jackery Inc., Duracell Inc., Lion Energy, EcoFlow, Milwaukee Tool, Anker Technology, Suaoki, Scott Electric and Bluetti are some of the prominent players operating in the Global Portable Power Station market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with more models & innovative portable power stations.

Insights Presented in the Report

“Amongst power type, Hybrid Power segment holds the major share.”

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 million 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 million by 2027 because it can be used at remote or off-grid locations, where direct power access is limited or non-existent.

“Amongst technology type, Lithium-ion dominated the market in 2020.”

Based on technology type, the market is segmented into lithium-ion and sealed lead acid. The lithium-ion segment grabbed XX% market share of the Global Portable Power Station Market and gathered revenue of USD XX million 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 million by 2027 owing to the availability of lithium ions at affordable prices across the world. In addition, the use of lithium-ion reduces the operational cost of portable power stations.

“Amongst capacity range, 501-1,000 Wh range is expected to dominate the market during the analyzed period.”

Based on capacity range, the market is segmented into Less than 500 Wh, 501-1,000 Wh, 1,001-1,500 Wh & 1,500 Wh and above. In 2020, the 501-1,000 Wh segment dominated the Portable Power Station Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to its usage in various applications, including off-grid power. Also, other factors such as: rising demand for additional power capacity and charging electronic appliances with high power requirements across North America, Europe, and the Asia Pacific regions will further propel this capacity range segment.

“Amongst application type, Off-grid power dominated the market in 2020.”

Based on application type, the market is classified into Emergency Power, Off-grid Power, Automotive and Others. The off-grid segment generated revenue of USD XX million 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 million by 2027 owing to the demand to power modern electronic equipment such as laptops, smartphones, tablets etc., which is driving the portable power station market for the off-grid segment. The growth in this segment is also driven by the increase of camping and outdoor recreational activities, and the growing use of smart electronic devices in regions such as North America, Europe, and Asia Pacific.

“North America represents as the largest market in the Global Portable Power Station market.”

For better understanding of the market penetration of Portable Power Station, the report provides a detailed analysis of major regions including North America, Europe, Asia Pacific, and the rest of the world. North America constitutes the largest market for the industry and generated revenue of USD XX million in 2020 as the region houses major portable power station companies, especially in the US. In addition, market in the region is driven by the growing emphasis on camping and outdoor recreational activities, and the increasing use of smart electronic devices, and the subsequent need for connectivity, which requires power.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Global Portable Power Station adoption were the three major steps undertaken to create and analyze the adoption of portable power stations across various segments in North America, Europe, Asia Pacific, & Rest of the world. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Portable Power Station sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Portable Power Station through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Portable Power Station market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are as power type, technology type, capacity range, and application type. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Portable Power Station in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Portable Power Station. Further, we conducted factor analysis using dependent and independent variables like growing need for portable power stations and people focus on ability to stay connected & usage of smart electronic devices. Historical trends and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Portable Power Station market, and market shares of the segments. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Portable Power Station across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Portable Power Station market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Global Portable Power Station market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of power type, technology type, capacity range, and application verticals.

The main objective of the Portable Power Station Market Study

The current & future market trends of Portable Power Station were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends determine the overall attractiveness of the market at a global & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Portable Power Station in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of power type, technology type, capacity range, and application verticals
• Defined analysis of the regulatory framework for the Global Portable Power Station industry
• Analyze the customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Portable Power Station for the major regions & countries
• Major regions studied in the report include North America, Europe, Asia Pacific, and Rest of World
• Company profiles of the Portable Power Station market players and the growth strategies adopted by them to sustain in the fast-growing market
• Deep dive regional & country level analysis of the industry