Portable Power Station Market Research Report and Outlook by 2028

The worldwide market for portable power stations is projected to expand from US$ 211.03 million in 2021 to US$ 295.91 million by 2028, reflecting a compound annual growth rate (CAGR) of 4.9% from 2021 to 2028.

North America is recognized for its cutting-edge technological advancements and the presence of significant economies, including the United States, Canada, and Mexico. The developed nations in this region are known for their embrace of innovative technologies, high living standards, and robust infrastructure across various sectors. Industries such as automotive, transportation, electronics, and telecommunications are ramping up production to satisfy the increasing consumer demand. The combination of high disposable incomes and technological progress in North America has led to a notable rise in the adoption of consumer electronics, which includes smartphones, laptops, tablets, music devices, washing machines, and televisions. This flourishing consumer electronics sector is a key driver of the portable power station market in the region.

According to the North American camping report for 2021, the number of households involved in hiking activities surged to 48.2 million in 2020. Additionally, the number of active households participating in outdoor activities in the United States grew from 71.5 million in 2014 to 86.1 million, indicating a significant upward trend. As a result, the increasing popularity of outdoor activities such as camping, trekking, fishing, and climbing in North America is propelling the demand for portable power stations. Moreover, the anticipated decline in the cost of rechargeable lithium-ion batteries in the coming years is likely to further promote the adoption of these devices. Lithium batteries outperform lead-acid batteries due to their longer lifespan, greater efficiency, and durability. Bloomberg NEF reports that the cost of lithium-ion batteries has dropped by US$ 156 per kilowatt-hour since 2010, when it was US$ 1,183 per kWh. As smart devices predominantly utilize lithium-ion batteries, they require a dependable source of rechargeable power, which may enhance the demand for power stations.

The portable power station market is segmented by type, capacity, application, battery type, and geography. In terms of type, the market is divided into solar power and direct power, with the direct power segment holding a larger market share in 2020. By capacity, the market is classified into below 500 Wh, 500-1500 Wh, and above 1500 Wh, with the 500-1500 Wh segment accounting for a significant portion of the market in 2020. The application segment includes emergency power, off-grid power, and others, with emergency power representing a larger share in 2020. Regarding battery type, the market is divided into sealed lead acid and lithium-ion batteries, with lithium-ion batteries dominating the market share in 2020. Geographically, the portable power station market is primarily divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America, with North America holding a substantial share of the global market in 2020.

The COVID-19 pandemic has significantly affected North America, particularly the United States, leading to numerous severe health cases. Manufacturing facilities faced challenges, operating with reduced staff or shutting down temporarily, which disrupted the supply chain for components and parts. These disruptions posed considerable challenges for countries in North America.

In 2020, the smartphone penetration rate in the United States was around 81.6%, with a projected increase to only 82.2% in 2021. This stagnation negatively impacted the demand for portable power stations needed for charging smartphones during outdoor activities. Similarly, the portable power station markets in Canada and Mexico experienced adverse effects due to the pandemic. However, as restrictions were lifted in 2021, the market began to recover, with increasing demand for portable power stations in the US, Canada, and Mexico.

The assessment of the portable power station market size was conducted using both primary and secondary research methods. The research process began with extensive secondary research, utilizing both internal and external sources to collect qualitative and quantitative data related to the market. This approach provided a comprehensive overview and forecast of the portable power station market across all segments and regions, including North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Additionally, primary interviews were conducted with industry experts, including VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as research analysts, valuation experts, and key opinion leaders specializing in the portable power station market. The aim of these primary interviews was to validate the data and gain further analytical insights into the subject.

Key players in the global portable power station market include Midland Radio Corporation, ALLPOWERS Industrial International Co., Ltd., ChargeTech, EcoFlow, Drow Enterprise Co., Ltd., Duracell Inc., Goal Zero, Jackery Inc., SHENZHEN CHAFON TECHNOLOGY CO., LTD, Lion Energy, and Hyundai Power Products.