Portable Power Station Market– Recent developments in the competitive landscape forecast 2028
A recent market intelligence report that is published by Data Insights Partner on the global Portable Power Station Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Portable Power Station Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Portable Power Station Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Portable Power Station Market is offered. In accordance with the report, the global Portable Power Station Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
A Portable Power Station is a regenerating battery-powered generator. It helps in charging a variety of devices like mini fridge, mini coolers, laptops, tablets, smartphones and many more. Portable power stations are inexpensive, requires low maintenance cost, convenient, reliable, safe and noise-free. These products are used for collecting, storing, and supplying electricity on a long-term basis. These are sustainable sources of energy as compared to traditional power stations. They are capable of generating immediate electricity.
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Market Drivers
The changing lifestyle of the consumers especially in the developed countries like North America are providing the initial impetus to the market. Their inclination to live a memory-filled life is driving them to give-up on nine-to-five jobs and start travelling. With the advancement of technology, they can work and earn livelihood while they are in a vacation. The soaring activities of camping, hiking, travelling with the use of RVs, Camper vans, mini buses and many more requires constant electrical supply even in off-grid times. These factors are driving the growth of the portable power station market.
The advancement of technology in a lightening speed is compelling the electronics industry to evolve in course of time. The use of “smart everything” like smart phones, smart homes, smart homes on wheels, and smart city projects is skyrocketing. The application of smart things requires an uninterrupted supply of power regardless of the location and is empowering the growth of this market.
The developing economies require uninterrupted source of power supply especially in the rural regions. The accessibility of electricity in remote areas are of higher needs. The use of portable power stations in areas of no electricity is likely to lay down paths for electrification and the consequent development of portable power station market.
The rising concern about environment and the favorable directives of the government to reduce carbon footprint is empowering the use of portable power stations because it has negligible carbon emission. The preference towards the use of renewable sources of energy is also a determining factor in this market.
To satisfy the personal needs, more and more consumers are inclining in the direction of portable power station which is positively influencing the portable power station market.
Market Restraints
However, portable power stations have to be recharged for great length of time which is severely straining the portable power station market.
Further, the portable power stations especially the battery-powered type is immoderately priced and this is swaying away consumers from the utilization of this product and hindering the prospects of this market.
Finally, lack of knowledge among the consumers with regard to the availability of such products and also the product qualities like low carbon emissions especially in the developing nations are hampering the growth of the portable power station market.
Opportunities
The changing mindset of the people to add value and not things to life is likely to develop the people’s attitudes towards camping and others and the use of campervans, RVs and many more. This attitude development is also likely to spread from developed nations to developing nations due to the penetration of internet and social media and create lucrative opportunities for this market.
The various projects of smart cities in developed as well as developing economies is likely to provide great scope for this market.
The further advancement of technology and research and development to improve the product portfolio will provide bankable opportunities in the near future.
Trends
The Asia Pacific region is projected to showcase significant progress in the forecast period owing to rising budget approval of the government to invest in power sector, the development of smart grids, smart meters, and power stations, the soaring environmental concern, positive outlook towards the adoption of renewable sources of energy and changing demographics and mindset. The presence of globally emerging economies like India and China in the Asia Pacific region is a growth factor for this market. The Europe market is also expected to expand because of the widening base of consumers for electric vehicles and hybrid electric vehicles and the adoption of renewable sources of energy. North American market will also show progress increasing consumption of electricity, immoderate cost of energy generation, favorable government norms, and rising awareness.
Segment Covered:
This market intelligence report on the global Portable Power Station Market encompasses market segments based on product type, technology type, power source, capacity range and country.
By Product Type the global Portable Power Station Market has been divided into:
q Battery Powered
q Gas Powered
By Technology Type the global Portable Power Station Market has been divided into:
q Sealed Lead Acid
q Lithium-ion
q Others
By Power Source the global Portable Power Station Market has been divided into:
q Off-Grid Support
q Emergency Power
By Capacity Range the global Portable Power Station Market has been divided into:
q Less than 500 Wh
q 501-1,000 Wh
q 1,001-1500 Wh
q Above 1500 Wh
By country/region, the global Portable Power Station Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Goal Zero
q Jackery
q EcoFlow
q Duracell
q Hyundai Power
q Lion Energy
q Indiegogo, Inc
q Anker Technology Ltd
q MAXOAK TECHNOLOGY
q Milwaukee Tool
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Portable Power Station Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Goal Zero
In March 2020, brand-new Yeti 500X, a portable power station was launched by Goal Zero. This product has a storage capacity of 428-505 Wh. It is perfect for emergencies, lengthy camp trips and backyard parties.
Jackery
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In January 2020, portable power stations, Explorer 300 and explorer 1000, was introduced by Jackery. These series are a Lithium based rechargeable portable power station.
EcoFlow
In December 2018, EcoFlow merged with SunPower to introduce EcoFlow-SunPower Energy Bundle. This product can be charged by solar energy for five to nine hours and helps in charging small electronic devices.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Portable Power Station Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Portable Power Station Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Portable Power Station caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Portable Power Station Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Portable Power Station Market
v Identification of key factors driving investment opportunities in the Portable Power Station Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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