Global Portable Power Station Market
Dublin, July 26, 2023 (GLOBE NEWSWIRE) -- The "Portable Power Station Market by Type, Application, Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global portable power station market was valued at $4.0 billion in 2021 and is projected to reach $5.9 billion by 2031, registering a CAGR of 3.9% from 2022 to 2031.
A portable power station is a battery-powered generator that can be used to charge various devices, such as fans, mobile phones, computers, and other electronic devices.
Charging capacity, minimal maintenance, safety, and portability are the advantages of these portable power stations. In recent years, the growth of the portable power station market has grown significantly, owing to the increase in use of smart devices, the aging of the network infrastructure, and the increase in the use of energy in remote areas.
The main factors driving the growth of the global portable power station market are the increasing demand for smart devices (including smartphones and smart watches), as well as the demand for uninterruptible power supplies for applications such as emergency power supplies, automobiles, and off-grid power supplies. However, the longer charging time and high cost of portable power stations are factors that are restraining the growth of the global portable power station market.
The off-grid power segment is estimated to grow at the fastest rate during the forecast period due to rise in use of smartphones and the increase in camping and other recreational activities. By sales, the online segment is estimated to grow at the fastest rate during the forecast period due to the rise in internet penetration across the world.
The online sales channel is widely adopted by consumers in developed countries of North America and Europe owing to the rise in adoption of internet and mobile phones in the region. By region, North America holds the largest market share as the region houses major portable power station companies, especially in the U.S.
Market Dynamics
Drivers
-
Rise in the utilization of smart electronic devices
-
Growth in concerns regarding CO2 emissions
Restraints
-
High cost of battery-powered portable power stations
Opportunities
-
Increase in outdoor and camping activities
Key Benefits For Stakeholders
-
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the portable power station market analysis from 2021 to 2031 to identify the prevailing portable power station market opportunities.
-
The market research is offered along with information related to key drivers, restraints, and opportunities.
-
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
-
In-depth analysis of the portable power station market segmentation assists to determine the prevailing market opportunities.
-
Major countries in each region are mapped according to their revenue contribution to the global market.
-
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
-
The report includes the analysis of the regional as well as global portable power station market trends, key players, market segments, application areas, and market growth strategies.