Market Overview
According to the latest research report, the portable power station market is expected to be worth USD 735.88 million by 2030, growing at an annual rate of 8.14 percent during the projected timeline. In 2021, the market accounted for us$ 410 million. When it comes to electricity, a compact power station is a battery-powered generator that may be used to charge a variety of electronic gadgets. These portable power stations have rechargeability, little management, are safe to use, and are compact.
Demand for portable power stations is being driven primarily by the rising usage of smart gadgets like cellphones and wearables and the need for continuous power in a variety of settings such as emergency generators, transportation, and off-grid power sources. Nevertheless, the worldwide portable power station industry is being stifled by the lengthy charging periods and expensive prices of battery-powered devices.
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COVID-19 has significantly affected worldwide tourism and air travel since individuals have been unable to leave their homes due to flight cancellations. Travel and tourism will be impacted if more places and hotels are closed and if there are limits on things like camping and other outdoor activities.
Market Segmentation
The worldwide portable power station market has been divided based on operating mode, capacity type, application, and technology.
Over the next several years, the lithium-ion battery industry is predicted to develop at the fastest rate of any technology. The lithium-ion and sealed lead acid technologies are the two main types of portable power stations available. It is projected that the lithium-ion category will increase faster throughout the projection period. Because lithium ions are readily available at reasonable costs in places like North America, Europe, and the Asia Pacific, this market is expected to develop.
The portable power station industry is forecasted to be dominated by hybrid power. Direct power and hybrid power are the two main power sources in the industry. In 2020, the portable power station market was dominated by hybrid power. Because hybrid power may be utilized in distant or off-grid settings, it has a significant advantage over traditional power sources in these areas.
Regional Classification
According to the reports, the portable power station market is divided into four regions: Asia-Pacific; North America; Europe; the Middle East & Africa; and South America.
North America has the biggest market share because of significant portable power station firms in the area, particularly in the United States. Furthermore, the rising usage of smart electronic gadgets is a major driver of development.
Furthermore, the business in Asia-Pacific is predicted to develop at the quickest pace during the projected timeframe, owing largely to a rising population utilizing connected devices and an increase in economic activities in the area.
Key Players
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), and Milwaukee Electric Tool (US).
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Industry News
To better serve its clients, EcoFlow has introduced the R600 portable power station, whose capacity may be increased with the aid of an extra battery. It has the potential to reduce the amount of electricity used by electric appliances by operating them more effectively at a lower wattage.
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