Portable Power Station Market Size to Hit $494 Million by 2026

June 29 02:32 2022
Portable Power Station Market Size to Hit $494 Million by 2026
The global portable power station market size is expected to grow from an estimated USD 358 million in 2021 to USD 494 million by 2026, at a CAGR of 6.7 % during the forecast period.

The global Portable Power Station Market size is expected to grow from an estimated USD 358 million in 2021 to USD 494 million by 2026, at a CAGR of 6.7 %. The drivers for this market are the increasing use of smart electronic devices, growing demand for uninterrupted and reliable power, and stringent emission rules across regions such as Asia Pacific, North America, South America, Europe, and Middle East & Africa. North America is expected to lead the portable power station market, followed by Asia Pacific and Europe.

The off-grid segment is expected to be the fastest-growing market segment in the portable power station market.

The portable power station market is segmented by application into emergency power, off-grid power, and automotive. The off-grid power segment is estimated to account for the largest share in 2021, and this trend is expected to continue during the forecast period. The growth of this application is mainly driven by the increasing number of camping and outdoor recreational activities in regions such as North America, Europe, and Asia Pacific.

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Hybrid power is expected to dominate the portable power station market.

The portable power station market is segmented by power source into hybrid power and direct power. Hybrid power accounted for the larger share of the portable power station market in 2020. The key advantage of using hybrid power is that it can be used at remote or off-grid locations, where direct power access is limited or non-existent. Solar power charging in hybrid power is predominantly used to charge portable power station equipment for campsites and recreational vehicle activities. Moreover, several major manufacturers are offering both solar charging-enabled portable power stations and portable power stations with direct power charging capability for powering electronic equipment during power outages and grid blackouts.

North America is expected to be the largest portable power station market.

The portable power station market is segmented by region into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America was the largest regional market in the world for portable power stations, predominantly due to the US, and the trend is expected to continue during the forecast period. A growing emphasis on outdoor recreational activities, such as fishing, and camping can be observed in this region. Furthermore, an increasing number of campers are looking to use technologies such as mobiles, laptops, Wi-Fi, and other smart techonolgies during their camping activities, which they believe, will enhance their camping experience. The use of smart electronic devices and the subsequent need for connectivity requires power, which may drive the growth of the portable power station market in the region.

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The global Portable Power Station Market is dominated by leading players that have an extensive regional presence. The leading players include Duracell (US), Goal Zero (US), Milwaukee Tool (US), Jackery (US), EcoFlow (US), Anker Technology (England), Lion Energy (US), and Bluetti (US).

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