The global 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™. North America is expected to lead the portable power station market, followed by Asia Pacific and Europe. The growth of the market is driven by the increasing use of smart electronic devices and the requirement for uninterrupted power supply across applications such as emergency power, off-grid power, and automotive.
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Emergency power is expected to have the second largest share in portable power station market
The emergency power segment is estimated to account for the second largest share in 2020. The demand for portable power stations for emergency power is driven by the increasing number of power outages due to severe weather events such as storms, earthquakes, and lightning, aging power grid infrastructure, excavation digging, high power demand during heat waves, and other times that overburden transformers, electric cables, and other transmission and electrical distribution equipment.
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.
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North America expected to be the largest 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. In addition, the US is the world’s largest portable power station market. The country has been one of the top adopters of portable power stations for off-grid power, emergency power, and automotive applications.
The portable power station market is served by a mix of large international players with their presence and capabilities across different regions, as well as local players that have a strong foothold in the domestic markets. The key players operating in the market are 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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