NOIDA, India, July 23, 2021 /PRNewswire/ -- A comprehensive overview of the Global Portable Power Station Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Portable Power Station Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Global Portable Power Station Market at the regional & country levels. The Global Portable Power Station Market is expected to grow at a CAGR of 6.9% from 2021-2027 to exceed USD 534 million by 2027.
Global Portable Power Station Market is experiencing significant growth on extensive use of smart devices such as: smartphones. As per Statista, there will be substantial growth for all cellular-enabled phones, tablets or IoT devices on a global scale. The company's data sources estimate that in the next three years, they see the number of mobile device users increase from 5.17 to 7.33 billion. This trend coupled with increase in people spending power & increased investment by global electronic manufactures in smart electronics the Portable Power Station Market is set to achieve substantial growth in future years. Furthermore, people are willing to pay for these generators for charging smartphones capable of calling emergency responders. Also, the need for reliable survival gear in treks and areas with low power can drive the demand for portable power stations. Manufacturers in the market are increasing the capacity of these generators by providing extra outlets for charging more devices.
COVID-19 had huge impact on global tourism and air travel as people have been homebound. Closed destinations and hotels and restrictions on travel, camping, and outdoor recreational activities has impacted travel and tourism. For instance, as per World Tourism Organization (UNWTO), as of April 2020, all tourist destinations worldwide have introduced travel restrictions, 97 destinations (45%) have totally or partially closed their borders for tourists, 65 destinations (30%) have totally or partially suspended international flights, and 39 destinations (18%) are closing borders by banning the entry of passengers from specific countries of origin. The above restrictions have directly impacted the portable power station market globally as its major market is related to travelling activities of the population. However, areas with frequent blackouts are commanding a huge demand for portable power stations to survive the pandemic.
Global Portable Power Station Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Power Type, the market is primarily bifurcated into:
The Hybrid segment generated revenue of USD XX million in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027 because it can be used at remote or off-grid locations, where direct power access is limited or non-existent.
By Technology Type, the market is mainly segmented into:
Sealed Lead Acid
The lithium-ion segment grabbed XX% market share of the Global Portable Power Station Market and gathered revenue of USD XX million in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027 owing to the availability of lithium ions at affordable prices across the world. In addition, the use of lithium-ion reduces the operational cost of portable power stations.
By Capacity Range, the market is mainly segmented into:
Less than 500 Wh
1,500 Wh & Above
In 2020, the 501-1,000 Wh segment dominated the Portable Power Station Market and accounted for XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to its usage in various applications, including off-grid power.
Also, other factors such as: rising demand for additional power capacity and charging electronic appliances with high power requirements across North America, Europe, and the Asia Pacific regions will further propel this capacity range segment
By Application, the market is primarily studied into:
Emergency Power (Residential & Commercial end user)
The off-grid segment generated revenue of USD XX million in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027 owing to the demand to power modern electronic equipment such as laptops, smartphones, tablets etc., which is driving the portable power station market for the off-grid segment. The growth in this segment is also driven by the increase of camping and outdoor recreational activities, and the growing use of smart electronic devices in regions such as North America, Europe, and Asia Pacific.
Global Portable Power Station Market Region Segmentation Includes:
Rest of World
Based on the estimation, North America dominated the market in 2020 and is expected to maintain its dominance during the forecast period (2021-2027).
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Portable Power Station Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
What are the latest trends, new patterns, and technological advancements in the Global Portable Power Station Market?
Which factors are influencing the Global Portable Power Station Market over the forecast period?
What are the global challenges, threats, and risks in the Global Portable Power Station Market?
Which factors are propelling and restraining the Global Portable Power Station Market?
What are the demanding global regions of the Portable Power Station Market?
What will be the market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by the companies?
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