The global portable power station market will reach USD 735.88 Million at an 8.14% CAGR by 2030, states the new Market Research Future report.
Portable Power Station Market Drivers
Need for Uninterrupted Power across Applications to Boost Market Growth
The need for uninterrupted power across applications like automotive, off-grid power, and emergency power will boost the market growth over the forecast period.
Eminent market players profiled in the global portable power station market report includes,
- Lion Energy (US)
- Goal Zero (US)
- Suaoki (Japan)
- Jackery (US)
- Ecoflow (US)
- Duracell (US)
- Li Power (Shenzhen) Technology (China)
- ChargeTech (US)
- Midland (US)
- Drow Enterprise (China)
- Scott Electric (US)
- and Milwaukee Electric Tool (US).
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Portable Power Station Market Opportunities
Growing Concerns Regarding Greenhouse Gases and Carbon Dioxide Emissions to offer Robust Opportunities
Concerns about CO2 and greenhouse gas emissions have motivated significant investments in renewable energy generation around the world. Portable power stations are commonly used for renewable energy storage and power delivery as needed. As a result, the technological change toward renewable electricity generation is expected to drive the worldwide portable power station market in the assessment period.
Portable Power Station Market Restraints
High Cost to act as Market Restraint
The high cost of battery-powered portable power stations and these power stations low operational capability may act as market restraints in the assessment period.
|Market Size||2030: USD 735.88 Million|
|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
Lack of Awareness in Developing Countries to act as Market Challenge
The lack of awareness amongst developing countries regarding the use of portable power stations for reducing energy costs may act as a market challenge over the forecast period.
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Portable Power Station Market Segmentation
The global portable power station market is bifurcated based on capacity type, application, technology, and operation type.
By operation type, direct power will lead the market over the forecast period.
By technology, the lithium-ion sector will dominate the market over the forecast period.
By application, off-grid power will spearhead the market over the forecast period.
By capacity type, 500 WH-999 WH will have the lions share in the market over the forecast period.
Portable Power Station Market Regional Analysis
North America to Head Portable Power Station Market
North America was the world’s largest regional market for portable power stations, owing primarily to the United States, and this trend is likely to continue over the projection period. In this region, there is an increasing emphasis on outdoor recreational activities such as fishing and camping. Furthermore, an increasing number of campers are hoping to use technologies such as mobile phones, laptop computers, Wi-Fi, and other smart technologies during their camping activities, believing that this will improve their camping experience. The use of smart electronic gadgets and the resulting requirement for connectivity necessitates power, which may fuel the expansion of the region’s portable power station market. North America is expected to account for a sizable portion of the portable power station market owing to high electricity consumption, stringent federal policy directives and regulations governing greenhouse gas emissions, rising energy costs, & growing awareness of the benefits of portable power stations in the region. The growth of portable consumer electronics in the United States and Canada is at its pinnacle, owing to the use of gadgets in remote travel, camping, beach, and other away-from-home activities. The same can be said for military and security activities. Portable power stations are perfect in this situation. Because the increased trend of connected devices consumes more power from electronics devices, countries in the North America region use portable power stations to stay connected. Camping and leisure activities in North America have increased dramatically in recent years.
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APAC to Have Admirable Growth in Portable Power Station Market
Because of increased power outages in developing countries, Asia-Pacific is the second-largest market shareholder. Furthermore, the region’s growing tourism activities drive the usage of portable power solutions. Furthermore, the usage of emergency backups is expected to boost market expansion. Due to increased investments & improvements in the renewable energy industry in the area, particularly in developing nations such as China & India, Asia Pacific is predicted to dominate the global portable power station market between 2020 and 2030. According to a UN Environment Program report on overall renewable energy investments in 2018, China leads the world in renewable energy investment (US$ 91.2 billion). Investment in the country is expected to rise further, with more renewable energy projects planned during the projection period. The growing requirement for energy from emerging economies is propelling the regional economy forward. China and Australia have been highlighted as the primary APAC markets for portable power stations.
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