Portable Power Station Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Technology Type (Lithium-Ion, Sealed Lead-Acid), By Capacity (Less than 500 Wh, 500 Wh to 1,499 Wh, and 1,500 Wh and Above), By Power Source (Hybrid Power, Direct Power), By Application (Off-Grid Power, Automotive, Emergency Power), By Region, Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Power | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationPortable Power Station Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Technology Type (Lithium-Ion, Sealed Lead-Acid), By Capacity (Less than 500 Wh, 500 Wh to 1,499 Wh, and 1,500 Wh and Above), By Power Source (Hybrid Power, Direct Power), By Application (Off-Grid Power, Automotive, Emergency Power), By Region, Competition
Cost reductions for lithium-ion batteries is accelerating the growth of Global Portable Power Station Market
To mitigate greenhouse gas emissions, the world is transitioning towards a low-carbon energy system. Thanks to significant cost reductions, renewable energy sources such as solar and wind are increasingly competitive in terms of price compared to fossil fuels. However, to achieve a balanced energy mix and modernize our transportation system, affordable energy storage solutions are imperative. Among various options, lithium-ion batteries have gained widespread popularity as the primary power source for portable energy storage devices. The lithium market, historically driven by battery demand, particularly from consumer electronics, has experienced a notable price decline in recent years. According to studies conducted by the Massachusetts Institute of Technology in March 2021, the cost of these batteries has decreased by 97%, making energy storage commercially viable for the first time. Notably, the cell component represents the highest cost within a lithium-ion battery. Considering these factors, it is anticipated that the Global Portable Power Stations Market will witness significant growth.
Increasing sales of smart electronic devices driving the growth of Global Portable Power Station Market
The worldwide electronics sector comprises companies engaged in the assembly, production, development, and research of electronic parts and apparatus. Electronics is widely recognized as one of the most innovative and rapidly evolving sectors. Intense competition drives businesses to strive for the first-mover advantage in bringing innovative technology to market. The industry for manufacturing electronics can be categorized into four primary divisionsconsumer goods, industrial goods, governmental goods, and electronic components.
In recent times, considerable attention has been focused on various electronic devices such as alarm systems, home communication systems, electronic ovens, computers, video game systems, radios, smartphones, refrigerators, and televisions. These gadgets now boast advanced connectivity capabilities and user-friendly interfaces, aimed at enhancing user convenience. Despite the integration of energy-efficient technologies, the power consumption of these devices has experienced significant growth. Furthermore, the use of these applications necessitates a connection to smart devices, regardless of the user's location. This factor is anticipated to be a key driver in the expansion of the Global Portable Power Station market during the forecast period.
An increase in the demand for cutting-edge portable power stations is thriving the growth of Global Portable Power Station Market
The market is witnessing expansion due to the increasing demand for lightweight, portable power units that cater to both indoor and outdoor applications. The growing number of gadgets owned by individuals has led to a surge in the need for portable power stations with multiple output ports. Additionally, the rising demand for energy-intensive devices necessitates portable power stations with large battery capacities, thereby driving industry growth.
The adoption of lithium-ion technology is also on the rise, driven by the growing requirement for battery-operated portable power stations that deliver optimal energy to electronic devices. The environmental friendliness of lithium-ion batteries, as they do not emit carbon monoxide and are gas leak-proof, has contributed to their increasing popularity. Furthermore, their suitability as a power source in enclosed and hazardous environments makes them highly convenient. The market for global portable power stations is expected to witness further acceleration with the development of solar-powered portable power stations incorporating lithium-ion technology.
Maintenance for portable power units and low operational efficiency is causing hindrance to the growth of Global Portable Power Station Market
Due to several issues, periodic battery replacement and maintenance pose as market constraints for portable power stations. The overall affordability and accessibility of these power stations are affected by the need for battery replacements, resulting in increased user expenses. Potential buyers may be deterred by the cost of battery replacements or maintenance, particularly in price-sensitive regions. Additionally, users experience inconvenience due to the requirement for repairs. They must allocate time and resources to ensure proper battery maintenance, including monitoring its operation, cleaning, and potentially hiring experts for repairs. The longevity and sustainability of portable power stations are also influenced by their short battery life.
Fossil fuel-based generators are suitable for high-demand applications or situations that require a reliable power supply, given their higher power output and ability to operate continuously for extended periods. In comparison, portable power units often have lower power capacity and shorter operational lifespans before requiring recharging or refueling. This can pose challenges when powering energy-consuming equipment or in situations that demand continuous power usage. Furthermore, the convenience of fast refueling for fossil fuel generators may make them the preferred choice in certain circumstances.
Latest developments fueling the market growth
- The RIVER small, a portable power source
by EcoFlow, was introduced in October 2021 with a capacity of 210Wh. The
RIVER tiny is the company's most compact and portable power plant. It can
be fully charged in three hours using a home outlet and can also be
charged using solar panels or EV charging stations.
- In August 2021, the Yeti X line, as part
of the net-zero initiative, was introduced as the fifth generation of Yeti
power. REI was the exclusive retailer for the Yeti 200X at launch, which
is the smallest and lightest in the line. The complete Yeti X line
includes the Yeti 500X, 1000X, 1500X, 3000X, and the powerful 6000X. The
inverters in the three largest models can power any device that can be
plugged into an outlet.
- For outdoor emergencies, iForway
introduced the PS105N portable solar power station in November 2020. It
offers excellent functionality for outdoor campers, photographers,
business travelers, and CPAP ventilator users. Weighing 1.5 kg with a
capacity of 154 Wh, it can easily fit in a briefcase and be transported by
plane. The product can be used in temperature ranges from 0 to 40 degrees
Celsius.
- Anker Technology (U.K.) Ltd introduced
the Anker 757 Powerhouse in April 2020, which is the world's most
innovative and robust portable battery generator. The Anker 757 Powerhouse
is powered by a lithium iron phosphate (LiFePO4) battery, known for its
long lifespan and superior discharge and charge efficiency compared to
other lithium-ion batteries.
Market Segmentation
Market players
The main market players in the Global Portable Power Station Market are Goal Zero LLC, Jackery, Inc., Duracell Inc., Milwaukee Electric Tool Corporation, Anker Innovations Technology Co., Ltd, Indiegogo, Inc., EcoFlow Technology Ltd., Lion Energy Ltd. LLC, Chargetech Enterprises, LLC, Major Oak Power, LLC.
|
Details |
|
|
Base Year |
2022 |
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Historic
Data |
2018–
2021 |
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Estimated Year |
2023 |
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Forecast
Period |
2024 –
2028 |
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Quantitative Units |
Revenue in USD Million and CAGR for 2018-2022 and
2023-2028 |
|
Report
coverage |
Revenue
forecast, company share, growth factors, and trends |
|
Segments Covered |
Technology Type Capacity Power Source Application Region |
|
Regional
scope |
North
America, Asia-Pacific, Europe, South America, Middle East & Africa |
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Country scope |
United States, Canada, Mexico, China, India,
Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain,
Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE |
|
Key companies profiled |
Goal Zero LLC, Jackery, Inc., Duracell Inc., Milwaukee
Electric Tool Corporation, Anker Innovations Technology Co., Ltd, Indiegogo,
Inc., EcoFlow Technology Ltd., Lion Energy Ltd. LLC, Chargetech Enterprises,
LLC, Major Oak Power, LLC |
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Customization scope |
10% free report customization with purchase.
Addition or alteration to country, regional & segment scope. |
|
Pricing
and purchase options |
Avail customized
purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide
the editable version of the report in PPT/Word format on special request) |
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