Portable Power Station Market Projected to Reach USD 735.88 Million, with a CAGR of 8.14% by 2030 – Report by Market Research Future (MRFR)
Between 2022 and 2030, the Portable Power Station Market will expand by Rising technology and Growing demand is increasing in the use of smart devices
New York, US, April 27, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Portable Power Station Market Information by Operation Type, Application and Capacity Type and Region - Forecast till 2030", Between 2022 and 2030, the Portable Power Station Market will expand at a rate of 8.14% and reach a value of USD 735.88 Million by 2030.
*Portable Power Station Market Overview*
Electric blankets, fans, mini-refrigerators, and other tiny gadgets may all be charged using a portable power station, which is a rechargeable battery generator. The demand for emergency power supplies, off-grid power supplies, uninterruptible power supplies, and other applications, together with the rise in popularity of smart electronic devices, are what are primarily causing the portable power station market to expand.
The worldwide market for portable power stations is anticipated to expand at a sizable rate during the projected period as a result of the rising need for an uninterruptible power supply to power a variety of electronic gadgets. To reach end customers, the global electronics sector employs a myriad of procedures, including sales channel creation, design, production, assembly, and distribution.
*Market Competitive Landscape:*
The affluent firms in the portable power station industry are
· 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)
· Milwaukee Electric Tool (US)
· Among others.
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https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=10079To increase their portable power station market share or hold onto their dominant positions, these businesses have utilized a variety of techniques. There are several established agreements for the provision of gasoline dispensers with end customers. Also, manufacturers are concentrating on building their production facilities in nations like the UK, the U.S., and China to meet the rising demand in the area.
*Portable Power Station Market COVID 19 Analysis*
Because of lockdowns, company closures, and travel restrictions, the pandemic epidemic has had an impact on the economics and businesses of many different countries. One of the key sectors dealing with significant disruptions in the global construction industry. These disruptions include supply chain breakdowns, decreased production and employee numbers, terminations of technology events, product distribution, and advertising, office closures because of curfews and lockdowns, and a decline in product sales.
With its prevalence and significant raw material suppliers, China is one of the world's leading industrial centers. The collapse of the global economy, supply chain difficulties, and industry closures brought on by the coronavirus outbreak are all having an effect on the growth of the worldwide portable power station market. The most recent pandemic outbreak began in Wuhan (a Chinese province) in the year 2019, and it quickly spread around the world. These elements disrupt the global market trend and growth of the portable power station industry.
*Report Scope:*
*Report Metrics* *Details*
Market Size 2030 2030: USD 735.88 Million
CAGR during 2022-2030 8.14% CAGR
Base Year 2021
Forecast 2022-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Operation Type, Application and Capacity Type
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
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Portable Power Station Market USP Covered:*
*Market Drivers:*
Consumers are being influenced to partake in fun outdoor activities by changing lifestyles, geography, rising disposable income, and advantages to their physical and mental well-being. A healthy work-life balance can also be facilitated by outdoor recreational activities. People are engaging in more outdoor leisure activities, which suggests strong potential for market expansion internationally.
Gas generators have dominated the portable power market for decades, but battery-powered generators are now becoming a more environmentally friendly choice for DIY projects, camping, tailgating, and general household usage.
During the past ten years, there has been a significant rise in the use of consumer electronics and smart gadgets. Manufacturers have responded by adopting a "push" strategy, whereby a lot of smart electronic equipment is pushed into the portable power station market so that customers may easily buy it.
As the acceptance of IoT devices and the attractiveness of smart and connected products grow over time, manufacturers concentrate on producing linked devices. Tools that are linked and intelligent were made possible by technological advancements and the wireless network. The production of intelligent, wirelessly linked gadgets that rely on batteries to operate is continuously expanding. There seems to be a high chance for the market to expand throughout the projected period in order to power these gadgets once again.
*Opportunities*
To cut down on greenhouse gas emissions, the globe is converting to a low-carbon energy system. Due to huge cost reductions, renewable energy like solar and wind are starting to be more affordable than fossil fuels. Yet to balance these sources and revamp our transportation system, we need inexpensive energy storage. The most popular battery type is lithium-ion.
More units are created each year because lithium-ion batteries are becoming more and more popular as the primary power source for portable power storage devices. In the past, consumer device demand for batteries has driven the lithium industry, which has witnessed its price decline in recent years.
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Market Restraints:*
The obstacles for the portable power station industry can be the lack of knowledge and the absence of suitable installations in undeveloped areas.
*Portable Power Station Market Segmentation*
*By Operation Type*
The portable power station market is segmented into solar power and direct power based on the operation type. Due to the direct power sector's quicker charging time, a sizable portion of the market is anticipated to go to direct power in the upcoming years. Yet because more people are becoming aware of renewable energy sources, the solar power industry is also anticipated to generate a sizeable amount of revenue.
*By Technology Type*
The portable power station market is divided into sealed lead-acid and lithium-ion sectors depending on the type of technology. Due to cost, the lithium-ion market is anticipated to have the biggest market share for portable power stations.
*By Capacity Type*
The global market for portable power stations is further divided based on capacity type into categories with capacities of 500 WH or less, 500 WH to 999 WH, 1000 WH to 1499 WH, 1500 WH, and more. The 500 WH-999 WH is anticipated to account for the majority of the market share.
*By Application *
The off-grid power, emergency power, and automotive power sectors make up the different segments of the worldwide portable power station market. Due to a rise in smartphone usage and a variety of leisure activities, it is anticipated that the off-grid power sector would have the largest market share.
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Portable Power Station Market Regional Insights*
North America, where the majority of portable power station manufacturers are based, holds the biggest market share. The market growth is being driven by the steadily rising use of smartphones and other smart devices.
Also, Europe is expanding quickly. The portable power station sector in Europe is experiencing steady growth on account of the stringent government initiatives to reduce carbon emissions, growing awareness of the negative effects of conventional power sources, and rising use of electronic devices and E-vehicles.
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