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The global portable power station market size is expected to grow from an estimated USD 330 million in 2020 to USD 474 million by 2025, at a CAGR of 7.5% during 2020-2025. North America is expected to lead the portable power station market, followed by the Asia Pacific and Europe. The demand for portable power stations to ensure power supply during power outages, camping, and outdoor recreational activities in the US, Canada, and Mexico is contributing to the market’s growth. The portable power station market growth is attributed to the increase in the use of smart electronic devices and the requirement for uninterrupted power across applications such as emergency power, off-grid power, and automotive.
The hybrid power segment is projected to hold a larger share of the portable power station market.
Hybrid power is expected to hold for the larger share of the portable power station market. 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.
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Lithium-ion is projected to have a higher growth rate in the portable power station market.
The portable power station market is segmented by technology type into lithium-ion and sealed lead acid. The lithium-ion segment is estimated to lead the market and is also expected to register a higher CAGR. The increasing need for high durability, high energy density, and faster charging, and availability of lithium-ion at affordable prices drive the growth of this segment.
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-gird power segment is projected to grow at the highest rate during the forecast period. The demand to power modern electronic equipment such as laptops, smartphones, etc., is driving the portable power station market for the off-grid segment. The growth of this segment is also driven by the increase of camping and outdoor recreational activities, and the growing use of smart electronic devices in regions such as North America, Europe, and the Asia Pacific.
North America is expected to dominate the global portable power station market.
North America was the largest Portable Power Station Market in 2019, driven mainly by power outages, increasing use of smart electronic devices, and a growing number of camping and outdoor recreational activities in countries such as the US, Canada, and Mexico. Portable power stations are being increasingly implemented to effectively power smart electronic devices during such events so that people can stay connected.
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Some of the leading players in the Portable Power Station Market include Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Indiegogo (US), EcoFlow (US), and Lion Energy (US).
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