Portable Energy Storage System Market size was over USD 4.8 billion in 2024 and is expected to reach USD 65.3 billion by the end of 2037, witnessing around 24.3% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of portable energy storage system is estimated at USD 6 billion.
Portable devices serve consumers with mobility and cost-effective solutions for emergency backup power sources. Additionally, these power-grid devices are actively contributing to the reduction of CO2 emissions. The inclusion of battery power storage systems in governmental clean energy projects is driving the portable energy storage system market to grow exceptionally. In March 2024, the Ministry of Power sanctioned funding of USD 449.1 million for the implementation of VGF for the development of Battery Energy Storage Systems. Additionally, in September 2024, an investment of USD 25 million by the Government of Queensland attracted international private funding of USD 40 million to help build the battery industry.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
24.3% |
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Base Year Market Size (2024) |
USD 4.8 billion |
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Forecast Year Market Size (2037) |
USD 65.3 billion |
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Regional Scope |
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Technology (Lithium-Ion, Lead-Acid)
Lithium-ion segment is estimated to hold over 67.4% portable energy storage system market share by the end of 2037. Augmenting with a CAGR of 24.1%, it is poised to hold USD 4.2 billion by 2025. Its high energy density, longer lifespan, and fast charging time are some of the major preferable points, making it the first choice for users worldwide. Additionally, its customizable technology has allowed companies to uphold their product quality with enhanced safety, temperature monitoring, and cost-effectiveness. With a compact design, the lithium-ion category is captivating noticeable investments in the market. In May 2024, one of the leading companies in India, Maxvolt Energy raised USD 1.5 billion for the development of fast-charging lithium-ion batteries.
The lead-based portable energy storage systems are also in demand for their variation and potential for future development. The advanced devices consist of intelligent battery management, allowing them to perform with increased energy density at a low investment cost. Furthermore, lead-acid batteries could be integrated into hybrid systems in combination with other high-power storage devices to maximize benefits. Lead-based energy storage is availing an affordable option for the investors in the market, further capturing the focus of leading companies.
Application (Outdoor, Emergency)
Portable energy storage systems have a wide range of applications but outdoor usage is growing rapidly. The increased demand for electric vehicles has inflated the requirement for efficient and cost-effective power sources. Developing countries such as China, Japan, and India, have emphasized the market size by implementing EVs in commercial transportation. Frequent events of natural disasters are also encouraging consumers to acquire emergency power backup. Further extending the portable energy storage system market significantly. With consumer-specific developments in these devices, companies are introducing new technologies to enhance their portfolio.
In the present scenario, natural disasters are more frequent than past years. Countries such as Japan and India face massive power damage each year due to these events, which subsequently increases the demand for emergency power backup systems. Many companies are launching inventive devices, featuring AC current supply and efficient storage capacity at the same time. Public authorities are also considering these systems effective for long-duration power-cut. Travelers are also preferring these tools in emergency for their portability and compact design, which are easy to carry.
Our in-depth analysis of the global market includes the following segments:
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Technology |
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Application |
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Capacity |
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End use |
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APAC Market Statistics
The Asia Pacific portable energy storage system market captured the biggest value of USD 2.6 billion in 2024. With an exhibiting CAGR of 24.7%, the region is poised to hold a share of 56.4% during the forecast period, 2025-2037. In 2025, the size is estimated to expand up to USD 3.3 billion, owing to the rising concern on future power supply. The high population and recent developments are conjugately penetrating the demand for sustainable sources of electricity. Initiatives taken by governing authorities are inspiring foremost companies to participate in the advancement of this industry.
With the largest population in the world, India is now governing the campaign to implement alternative energy sources. According to an article published by Invest India, in August 2024, India secured 4th position in global renewable energy installed capacity. It further adds, that 21 government projects have already been sanctioned, creating an investment opportunity of USD 4.8 billion. The massive amount of generated energy is proposed to be stored for future consumption, emphasizing the market size of portable energy storage systems. An IESA article published in April 2021 states, that the market of India is expected to be USD 2.1 billion in 2019 and forecasts a CAGR of 8% by 2027.
China market is also predicted to encounter immense growth during the forecast period, 2025-2037, driven by the increase in EV integration. Companies are heavily investing in acquiring large-scale battery plants for efficient supply. Awareness of carbon emissions is also dragging the attention of market leaders for larger investments. In 2023, UNIDO called out for a global exhibition, showcasing 315 innovations of clean energy solutions from 60 countries. Such actions have intrigued the market of power-grid solutions to grow bigger.
North America Market Analysis
The North America portable energy storage system market is also expected to experience significant growth in upcoming years. Mobile power solutions are in high demand to empower the larger market of consumer electronics. The region’s diverse geography encourages campers and educational excursions to participate in outdoor activities. Further stimulating the market to enlarge with increased demand. Major players of this market are also investing to introduce newest technologies for a sustainable and carbon-emission-free power source.
The U.S. market has also shown remarkable growth in recent years and is estimated to garner greater developments in this sector. Technological support and a sophisticated economy have helped in the smooth integration of electricity preservers into consumption. According to an article published by NASA, in January 2024, The Edwards Sanborn Solar and Energy Storage project incorporates the highest capacity solar farm in the United States with the largest battery storage system in the world. Increased interest in constructing such large-scale storage facilities shows a bigger investment scope in this industry.
Canada is also augmenting the market with several large-scale battery storage system projects and shows greater opportunity for investment in the future. Energy storage development has helped this country build new-generation assets and promote clean power sources. An article published by Energy Storage Canada in 2024 states, that there are four installed energy storage facilities in Canada, situated in Ontario, Alberta, Saskatchewan & PEI. Additionally, there are more projects to be slotted, further raising the portable energy storage system market statistics.
The market's key players are now focusing on the development of portable energy storage systems to offer competitive options for consumers. They are partnering with other participants and in neighboring countries to expand their product line and portfolio. In April 2024, JLR partnered with energy storage start‑up, Allye Energy, to create a novel Battery Energy Storage System (BESS) to provide zero emissions power on the go. Further, they developed a new portable Battery Energy Storage System (BESS) using second‑life Range Rover and Range Rover Sport PHEV batteries. The market reach of advanced devices is setting parameters to beat their positions.
Some of these leading players include:
Author Credits: Dhruv Bhatia
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