NEW YORK, May 10, 2022 /PRNewswire/ -- The portable power station market is growing at a CAGR of 41.54% and is expected to register an incremental growth of USD 4.03 billion from 2020 and 2025. The report analyses the market size, growth, and provides accurate predictions on the growth of the market.
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Key Segments
The portable power station market is segmented by application (off-grid power, emergency power, and automotive).
The market will observe substantial growth in the off-grid power segment over the forecast period. A majority of the power demand in remote places such as villages is met by off-grid power systems. In addition, the rising demand for electric power and the expansion of conventional electric grids are contributing to the growth of the segment.
Regional Growth Analysis
The global portable power station market is analyzed across five regions — APAC, North America, Europe, MEA, and South America.
APAC is currently the dominating region, occupying 36% of the global market share. The increasing demand for energy from emerging economies is driving the growth of the regional market. China and Australia are identified as the major markets for portable power station in APAC.
Market growth will be faster in APAC, North America, and Europe. Regions such as MEA and South America will observe slower growth.
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Market Dynamics
The portable power station market is expected to witness substantial growth during the forecast period, primarily due to the growing demand for uninterrupted and reliable power during power outages.
Global warming is leading to a dramatic increase in the number of unpredictable natural disasters and unpleasant weather events over the past few years. For instance, between 2018 and 2018, the world witnessed several catastrophes, including hurricanes Michael and Florence in the US, super typhoons Yutu and Mangkhut in the Pacific region, a tsunami in Indonesia, and floods causing significant damages in several countries across the world. The growing occurrence of such natural disasters has increased the demand for uninterrupted and reliable power systems and accessories such as fuel tanks, load banks, cables, transformers. Thus, the increasing demand for uninterrupted and reliable power during power outages is driving the growth of the global portable power station market.
The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading a Sample Report.
Vendor Landscape
The portable power station market is fragmented due to the presence of several international and regional manufacturers. The threat of rivalry is moderate for the global portable power station market. High product differentiation and low product perishability will ensure that the threat of rivalry remains moderate throughout the forecast period.
Here are some of the products offered by key vendors:
ChargeTech: The company offers portable power stations products, charging carts UV-C and antimicrobial portable power supply.
Duracell Inc.: The company is engaged in manufacturing and marketing wide range of batteries and smart power systems such as power banks, alkaline batteries, rechargeables and chargers, specialty batteries, coin/button batteries, and hearing aid batteries.
EcoFlow Inc.: The company offers portable power stations, solar panels, bundle and power banks.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the portable power station market report:
Regional Analysis
Market Player Information
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Portable Power Station Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 41.54% |
Market growth 2021-2025 |
USD 4.03 billion |
Market structure |
Fragmented |
YoY growth (%) |
26.10 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, China, Russian Federation, Australia, and Saudi Arabia |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ChargeTech, Duracell Inc., EcoFlow Inc., Genius Media Group Inc., Goal Zero LLC, Jackery Inc., Li power Shenzhen technology Co. Ltd., LionEnergy LLC, Midland Radio Corp., and Scott Electric Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
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SOURCE Technavio
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