“Portable Power Station Market is expected to grow from an estimated USD 330 million in 2020 to USD 474 million by 2025, at a CAGR of 7.5%. 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. The market is segmented by operation type, technology type, capacity type, application, and region.
Some of the prominent key players are Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Indiegogo (US), EcoFlow (US), and Lion Energy (US).
By operation type, direct power is expected to dominate the portable power station market.
The market is segmented by operation type into direct power and solar power. Direct power accounted for the larger share of the portable power station market in 2019. The direct power market is driven by the growing emphasis on less charging time and reduced cost in regions such as North America, Europe, and Asia regions. In addition, direct power-based portable power stations do not cause loss of supply or self-discharge, and they also do not require any additional accessories.
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By technology type, lithium-ion is projected to have a higher growth rate in the portable power station market.
The 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.
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.
- In January 2020, Goal Zero (US) launched the next-generation lithium power stations and Yeti App, which will provide dependable power at home.
- In January 2020, Jackery (US) introduced two new products, the Explorer 1000 and the Explorer 300 portable power stations, expanding its Jackery Explorer Series range of rechargeable lithium portable power supplies with AC outlet, DC, and USB ports.
- In May 2018, EcoFlow (US) launched a portable power station, named RIVER Bank, which is capable of charging 6 devices simultaneously.