Chicago, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Portable Power Station Market size is projected to grow from USD 358 million in 2021 to USD 494 million by 2026, at a CAGR of 6.7% according to a new report by MarketsandMarkets™. The global portable power station market is driven by the increasing use of smart electronic devices, growing demand for uninterrupted and reliable power, and stringent emission rules across regions such as North America, Asia Pacific, Europe, South America, and Middle East & Africa.
Off-grid is expected to dominate the portable power station market
The off-grid power segment is estimated to account for the largest share in 2021, and is also expected to grow at fastest rate during the forecast period. The growth of off-grid power segment is mainly driven by the increasing number of camping and outdoor recreational activities in regions such as Europe, North America, and Asia Pacific.
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216 – Tables
39 – Figures
234 – Pages
By power source, hybrid power is expected to dominate the portable power station market
The market is segmented by power source into hybrid power and direct power. The largest share of the portable power station market is accounted by Hybrid power in 2020. The major advantage of using hybrid power is that it can be used at off-grid or remote locations, where access to direct power is limited or does not exist. Predominantly solar power charging is used in hybrid power to charge portable power station equipment for campsites and recreational vehicle activities. Moreover, several major manufacturers are offering both solar charging-enabled portable power stations and portable power stations with direct power charging capability for powering electronic equipment during power outages and grid blackouts.
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 grow at highest CAGR during forecast period. The increasing need for high energy density, high durability, and faster charging, and availability of lithium-ion at affordable prices drive the growth of this segment.
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North America is expected to dominate the global portable power station market.
North America was the largest portable power station market in 2020 and was mainly driven by increasing use of smart electronic devices, power outages, and the 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.
To provide an in-depth understanding of the market’s competitive landscape, the report includes the profiles of some of the top manufacturers in the Portable Power Station Market. These players include Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Bluetti (US), EcoFlow (US), and Lion Energy (US).
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