The global portable power station market size is projected to reach USD 494 million by 2026, from an estimated 358 million in 2021, at a CAGR of 6.7 % during the forecast period. 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.
North America is estimated to be the fastest-growing portable power station market from 2021 to 2026. The growth is attributed to the increasing use of electronic devices and camping trips. 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 segmented by power source into hybrid power and direct power. The hybrid power segment held a larger market share in 2020. The market growth is driven by the preference of consumers to use renewable power products and the need to stay connected during longer camping trips in countries such as the US, Canada, and Mexico.
The market is segmented by technology into lithium-ion and sealed lead acid. In terms of value, the lithium-ion segment held the larger share in 2020 as it is available at affordable prices. The decreasing price of lithium ions in recent years is driving the market of lithium-ion technology-based portable power stations.
The portable power station market is segmented by application into emergency power, off-grid power, and automotive. The off-grid power segment is expected to be the largest market during the forecast period. The market is driven by the increasing outdoor and recreational activities, and the growing use of smart electronic devices in regions such as North America, Europe, and Asia Pacific.
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The key players operating in the Portable Power Station Market are Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Bluetti (US), EcoFlow (US), and Lion Energy (US).