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A11700 | Pages: 336 | Charts: 58 | Tables: 227 |
The global portable power station market size was valued at USD 4.0 billion in 2021, and portable power station industry is projected to reach USD 5.9 billion by 2031, growing at a CAGR of 3.9% from 2022 to 2031. Rising demand for uninterruptible power supplies for electronic devices is expected to drive significant growth in the global portable power station market.
Key Market Trends & Insights
- On the basis of type, the 501-1000Wh segment emerged as the largest market share, and is anticipated to continue this trend during the forecast period.
- On the basis of application, the emergency power segment emerged as the global leader during the forecast period.
- Region-wise, North America held the largest market share and is expected to register a CAGR of 3.6% during the forecast period.
Market Size & Forecast
- 2021 Market Size: USD 4.0 billion
- 2031 Projected Market Size: USD 5.9 billion
- Compound Annual Growth Rate (CAGR) (2022-2031): 3.9%
A portable power station is a rechargeable battery generator that is used to charge small appliances such as smartphones, tablets, laptops, fans, mini-refrigerators, electric blankets, and mini-refrigerators. The increase in popularity of smart electronic devices and the demand for uninterruptible power supplies, emergency power supplies, off-grid power supplies, and other applications are the main factors driving the growth of the portable power station market.
Due to the increasing demand for uninterruptible power supplies for powering various electronic devices, the global portable power station market is expected to witness growth at a significant rate during the forecast period. The global electronics industry engages in countless processes such as sales channel design, development, manufacturing, assembly, and distribution to reach end users. The high penetration rate of Internet services in various fields and their affordability allow numerous consumers to use multiple devices at the same time.
The growing trend of online posting of content and more screen time is creating a demand for power to enjoy endless entertainment. The use of consumer products in household applications has increased, such as video game systems, water purifiers, refrigerators, ovens, communication systems, televisions, radio systems, music players, and other products that are widely powered by electricity. The increase in the disposable income of middle-class families and the improvement of living standards are promoting the growth of consumers' purchasing power.
The portable power station market is segmented into type, application, sales channel, and region. By type, the market is divided into less than 500 Wh, 501-1000 Wh, 1001-1500 Wh, and 1500 Wh or more. By application, the portable power station market is divided into emergency power, off-grid power, and automotive. By sales channel, the portable power station market is divided into online and offline. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
[TYPEGRAPH]
On the basis of type, the 501-1000Wh segment accounted for 37.3% of the portable power station market share in 2021 and is expected to maintain its dominance during the forecast period. This is owing to its application in the off-grid and emergency power.
[APPLICATIONGRAPH]
By application, it is divided into emergency power, off-grid, and automotive. The emergency power segment accounted for the largest revenue share in the global portable power station market in 2021. This growth in demand can be attributed to the progression of rural areas and the increase in the construction of residential renewable power generation systems such as solar and wind power plants.
[SALESCHANNELGRAPH]
On the basis of sales channel, the offline segment accounted for 53.0% of the portable power station market share in 2021 and is expected to maintain its dominance during the forecast period. This is owing to an increase in commercial activities and the need for leisure activities among people which has led to the demand for offline stores.
[REGIONGRAPH]
Region-wise, North America accounted for the largest market share in the market and is projected to grow at a CAGR of 3.6% during the forecast period. Presence of well-established applications such as emergency power (residential & commercial end users), off-grid power, and automotive is expected to provide lucrative opportunities for the growth of the portable power station market.
North America dominated the market in 2021 due to the existence of well-established applications like emergency power (for residential and commercial end users), off-grid power, and automotive. The North American portable power station market is anticipated to experience significant growth during the forecast period. North America has the world's largest portable power station market, and this trend is expected to continue during the forecast period due to the increased use of portable power stations in the U.S. The market in the area is propelled by an increase in the popularity of outdoor recreation such as camping, the use of smart electronic devices, and the resulting demand for connectivity, which needs power. The abovementioned elements will offer numerous opportunities for the growth of the portable power station market in this area.
Asia-Pacific is estimated to witness rapid growth and the highest potential for portable power stations among all regions globally. Asia-Pacific is among the fastest-growing regions due to the presence of countries such as India, China, and Japan. Growing economies of the region fuel growth in an array of sectors, such as emergency power and automotive.
Major companies profiled in the portable power station industry include
These players have adopted various strategies to gain a higher share or retain leading positions in the market. Many leading manufacturers and suppliers have longstanding contracts with end users to supply fuel dispensers. Further, manufacturers are focused on establishing their manufacturing facilities in the countries such as the UK, the U.S., and China to cater to increasing demand in the region.
Key Market Segments
Key Market Players