The global portable power station market was valued at $3.4 billion in 2020. The global portable power station market is forecast to grow at a CAGR of 3.8% during the forecast period from 2021-2027.
The portable power station can provide an immediate surge of electricity to users while delivering the same energy supply as conventional power plants in various locations worldwide over a long period of time. The flexible and adaptive power generation infrastructure provided by portable power stations allows for more resilient peak demand management. Portable power stations offer the opportunity for increasing renewable energy integration. A portable power station can generate electricity in seconds and plugs it into any outlet. Additionally, they reduce carbon dioxide (CO2) emissions. Portable power stations are an option for supplying additional electricity during peak hours. Additionally, the company offers grid support at the shortest notice, regardless of the timeframe or season. A portable power station is typically used in an emergency when energy is needed immediately or as a long-term solution when there are power outages.
Factors Affecting the Global Portable Power Station Market
- The use of smart grid services, aging infrastructure, and the need to provide power to remote areas are all factors driving the global market.
- During the forecast period, developing countries worldwide are expected to benefit from remote and dispersed power systems that could supply electricity worldwide.
- Around the world, substantial investments are being made in renewable energy generation due to concerns about CO2 and greenhouse gas emissions. The portable power station provides power at the moment of need by storing renewable energy. Thus, the technology shift to renewable energy generation is expected to drive the global portable energy market during the forecast period.
- The transportability of power stations makes them a popular choice for remote areas. Therefore, the market for portable power stations will grow over the forecast period, driven by a rise in consumer spending.
- A major limiting factor in the global market for portable power stations is the lack of awareness of their usefulness in reducing energy costs and carbon dioxide emissions in developing countries.
Covid-19 Impact on the Global Portable Power Station Market
Globally, Covid-19 continues to have a significant effect on tourism and air travel as people remain isolated at home. A closed destination, hotels, travel restrictions, camping, and outdoor recreation will impact tourism and travel.
The World Tourism Organization (UNWTO) reports that all tourist destinations worldwide have implemented travel restrictions. There are 97 destinations (45%) that have closed or partially closed their tourist borders. In addition, 65 destinations (30%) have suspended international flights entirely or partially, and 39 places (18%) are closing their borders. In addition to Asia-Pacific, Europe, the Middle East, and North America have been affected by Covid-19. Additionally, Covid-19 can impact portable power station sales in the camping and outdoor industries. Globally, the above restrictions have inhibited business growth for portable power stations.
Regional Analysis of the Global Portable Power Station Market
The portable power station market in North America is the largest worldwide, primarily because of the US, and the trend is expected to continue throughout the forecast period. Camping and outdoor recreational activities, and the increasing use of smart electronic devices, require high levels of connectivity, which continues to drive the market.
Key Players in the Global Portable Power Station Market
The companies that profile in the global portable power station market include:
- Anker Technology
- Milwaukee Tool
- Goal Zero
- Lion Energy
- Scott Electric
- Other Prominent Players
Aim of the Report: The Global Portable Power Station Market
The global portable power station market is segmented by Application, Capacity, and Region.
Segmentation based on Application
- Emergency Power
- Off-grid Power
Segmentation based on Capacity
- Less than 500 Wh
- 501-1,000 Wh
- 1,001-1,500 Wh
- 1,500 Wh or more
Segmentation based on Region
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America