Portable Power Station Market size was valued at USD 533.4 million in 2023 and is likely to reach USD 1.23 billion by 2036, expanding at around 6.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of portable power station is estimated at USD 561.99 million.
The growth of the market can be attributed to increasing users of smart electronic devices around the world, aging electricity grid infrastructure and rising usage of power in remote areas. The number grew up to 3.5 billion in the following year, i.e., 2020. Along with these, growing need for uninterrupted power across applications and escalating consumer investments in portable power stations are also expected to boost market growth in the coming years. Moreover, rise in the number of recreational activities such as camping and fishing is assessed to offer lucrative opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.7% |
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Base Year Market Size (2023) |
USD 533.4 million |
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Forecast Year Market Size (2036) |
USD 1.23 billion |
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Regional Scope |
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The market is segmented by battery type into lithium ion, and sealed lead acid, out of which, the segment for lithium-ion battery is anticipated to witness significant growth in the portable power station market on account of the high affordability and abundant availability of lithium ions. Furthermore, on the basis of capacity, the 500-1500 Wh segment is projected to grab the largest market share over the forecast period ascribing to the increasing demand for additional power for charging electronic appliances with high capacity. Additionally, on the basis of application, the off-grid segment is evaluated to be the most futuristic market segment in the upcoming years owing to the intensifying global demand to fulfill the power requirements of portable devices such as laptops, tablets and smartphones. According to the World Bank, by 2020, the off-grid power sector expanded to a $1.75 billion market that has served 420 million users in the past decade.
Our in-depth analysis of the global market includes the following segments
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By Battery Type |
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By Capacity |
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By Power Source
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By Application
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North America Market Analysis
On the basis of geographical analysis, the portable power station market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to dominate majority revenue share by 2036, on the back of high electricity consumption, notable user base of smart device users and growing emphasis on outdoor activities. According to U.S. Energy Information Administration, the total energy consumption in 2019 was 100.17 quadrillion Btu. Among all the sectors, electric power held the largest share, accounting to 37% of the total energy consumed. In addition to these, stringent rules and protocols related to the emissions of greenhouse gases is also predicted to drive growth to this region’s market in the future. Moreover, Asia Pacific is expected to witness the highest CAGR in the market during the forecast period owing to increasing investments in the renewable energy sector and rising technological advancements in IT industry in the region.
· July, 2020: Duracell launched PowerSource gasless generator that has a battery capacity of 660 Amp hours.
· January, 2020: Goal Zero rolled out its new portable battery Yeti 6000X, which is considered to be the most powerful Yeti till date.
Author Credits: Dhruv Bhatia
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