Industry

Portable Power Stations Market Growth Trajectory Through 2024-2033|Anker Innovations Technology, Berkshire Hathaway Inc., EcoFlow, NRG Energy, Inc. (Goal Zero), Chilwee Group Co

The Portable Power Stations by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Portable Power Stations, The portable power stations market size has grown strongly in recent years. It will grow from $4.16 billion in 2023 to $4.46 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to emerging markets growth, the increase in outdoor and camping activities, and the reduction in lithium-ion batteries cost.

The portable power stations market size is expected to see strong growth in the next few years. It will grow to $5.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to the increasing sales of smart electronic devices, the rising urbanization, and the rising demand for electric vehicles. Major trends in the forecast period include focus on product innovations, developing solar rechargeable portable power stations, collaborations and acquisitions, developing portable power stations with smart assistance, and portable power stations with 4g/5g internet connectivity.

The rising use of smart electronic devices is expected to propel the growth of the portable power stations market going forward. Smart electronic devices are electronic devices embedded with a microcontroller that enables continuous connectivity between one or more devices through the internet. A portable power station assists in charging or providing electric power to smart electronic devices during conditions such as power supply cuts, outdoors where constant electricity is not available, and others without causing a hindrance to the connectivity among devices. For instance, in August 2022, according to the biannual Plume IQ Smart Home Market Report released on August 2022, by Plume, a US-based personalized communications services provider, in 2022, the average home has 17 connected devices, a 10% increase from the previous year. Therefore, the rising use of smart electronic devices drives the growth of the portable power stations market.

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The portable power stations market covered in this report is segmented –

1) By Power Source: Hybrid Power, Direct Power
2) By Technology Type: Lithium-ion, Sealed Lead-Acid
3) By Capacity: 0-100 Wh, 100-200 Wh, 200-400 Wh, 400-1,000 Wh, 1,000-1,500 Wh, 1,500 Wh And Above
4) By Sales Channel: Online Sales, Direct Sales
5) By Application: Emergency Power, Off-Grid Power, Automotive, Other Applications

Technological advancements are a key trend gaining popularity in the portable power stations market. Major companies operating in the portable power stations market are focused on developing new patented technologies to decrease charging time, meet consumer demand, and strengthen their market position. For instance, in September 2021, EcoFlow, a US-based portable power and renewable energy solutions provider, launched the DELTA mini portable power station, the world’s smallest, most portable, and most affordable portable power station. Its patented X-Stream AC fast recharge technology can charge devices up to 900 W at a maximum rate of 0%–80% in one hour and 100% in 1.6 hours using regular AC outlets. Comparable batteries can take three to seven hours to fully recharge, making this the fastest charging speed available on the market. The DELTA mini’s integrated smart inverter or adapter also eliminates the need for consumers to carry a separate charger brick.

The portable power stations market report table of contents includes: