New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Portable Power Stations Global Market Report 2023" - https://www.reportlinker.com/p06464026/?utm_source=GNW
Ltd., Milwaukee Electric Tool Corporation, Lion Energy Limited, Midland Radio Corp., AllPowers Industrial International Limited, Scott Electric Inc., Suaoki, Drow Enterprise, Fanttik Inc., and Alpha ESS Co. Ltd.
The global portable power stations market is expected to grow from $3.88 billion in 2022 to $4.16 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The portable power stations market is expected to reach $5.39 billion in 2027 at a CAGR of 6.7%.
The portable power station market consists of the sales of electrical, gas-powered, solar, and other types of portable power stations.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A portable power station is a larger capacity portable device with higher output power and AC outlets that provides off-grid electricity through a rechargeable battery. These are ideal and transportable (emergency) power sources that are needed for usage inside and outside of the home or while participating in outdoor activities so that a user can always utilize their electrical appliances.
North America was the largest region in the portable power stations market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in portable power station report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main power sources of portable power stations are hybrid power and direct power.Hybrid portable power stations are portable power stations with two different power sources, such as photovoltaic panels and a gasoline engine.
The types of technology are involved such as lithium-ion and sealed lead-acid.These have various types of capacity including 0-100 WH, 100-200 WH, 200-400 WH, 400-1,000 WH, 1,000-1,500 WH, 1,500 WH and above, and these are sold through online sales and direct sales channels.
It is used for several applications, such as emergency power, off-grid power, automotive, and others.
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.
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.
In September 2021, Briggs & Stratton Corporation, a US-based manufacturer of gasoline engines, acquired SimpliPhi Power for an undisclosed amount.With this acquisition, Briggs & Stratton plans to boost its presence in the energy storage system market and expand its energy storage product portfolio to reach a wide range of customers.
SimpliPhi Power is a US-based energy storage and management systems provider, and its product range includes portable power stations, generators, and other energy storage solutions.
The countries covered in the portable power station market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The portable power solutions market research report is one of a series of new reports that provides portable power solutions market statistics, including portable power solutions industry global market size, regional shares, competitors with a portable power solutions market share, detailed portable power solutions market segments, market trends and opportunities, and any further data you may need to thrive in the portable power solutions industry. This portable power solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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