Portable Power Station Market Size, Share & Industry Analysis, By Power Source (Hybrid Power Source and Single Power Source), By Capacity (Less than 500 Wh, 500 Wh to 1,499 Wh, and 1,500 Wh and Above), By Battery Type (Lithium-ion and Sealed Lead-acid), By Sales Channel (Online and Offline), By Application (Off-Grid, Emergency/Back-up, Others), and Regional Forecast, 2024-2032

The global portable power station market was valued at USD 545.04 million in 2023 and is projected to grow from USD 603.21 million in 2024 to USD 1,148.64 million by 2032, exhibiting a CAGR of 8.38% during the forecast period. The portable power station market in the U.S. is projected to grow significantly, reaching an estimated value of USD 506.52 million by 2032, driven by the frequent power outage due to aging infrastructure and natural disasters.

Changing lifestyles, increasing spending power, and physical and emotional benefits encourage consumers to engage in entertaining outdoor activities. Outdoor leisure activities contribute to a healthy work-life balance. An increase in people’s participation in outdoor leisure activities indicates a significant potential for the growth of this market across the globe.

Portable power has been the domain of gas generators for decades, whereas battery-powered portable power station generators are emerging to be a cleaner option for DIY, campers, tailgates, and around-the-home use.

The COVID-19 pandemic affected the market globally. The closures of public places and recreational activities led to a drop in the revenue of market players. The restrictions on travel plans and the closure of tourist destinations had a negative impact on the market. Closed tourist destinations, hotels, and restrictions on travel, camping, and entertaining outdoor activities impacted the travel and tourism industry, which restrained product demand.

Portable Power Station Market Trends

Rising Emphasis on Renewable Energy to Boost the Portable Power Station Market Development

The amalgamation of renewable energy and portable power stations has become a booster for both industries. With the rise in solar power energy in terms of panels, modules, and vessels, many portable power stations have led to its usage in the residential and commercial sectors. The rise of renewable energy has reduced the time needed to charge portable power stations, and it can be used at any place and time with the right adaptor. Portable power stations, solar panels, solar channels, and solar trackers are all part of the green energy ecosystem and have been creating a positive impact on the environment as well. By directing energy from a smart solar panel to a power plant, users can avoid the prevention of energy production inherent to renewable energy sources and achieve more stable production output. This feature can be useful in outdoor spaces where there are fewer outlets.

Many companies are investing in this collaboration of two technologies. For instance, EcoFlow invited consumers to participate in the RandD process through crowdfunding. For example, the development of EcoFlow DELTA Pro was supported by a crowdfunding campaign launched on Kickstarter. The company originally had a goal of USD 100,000 but ended up raising about USD 12.2 million.

Portable Power Station Market Growth Factors

Increase in Outdoor and Camping Activities to Drive the Product Demand in Forecast Period

There is an ascent in sporting and camp exercises such as fishing and climbing across the world. For instance, according to the 2021 North American Camping Report, the number of camping households who camped at least once in 2020 stood at 48.2 million and active households in the U.S. were 86.1 million, which saw a rise of 20.41% from 71.5 million in 2014.

By generation, camping experience was highest among the millennials (44%), followed by Gen X (46%), and Gen Z (32%). In Australia, individuals visiting lodgings, inns, and resorts represented 24%, and individuals opting for caravans and camps represented 14%. As per Eurostat, 66% of European camping areas are situated in 5 nations - the U.K., France, Germany, Italy, and the Netherlands. In 2017, guests spent USD 397 million to set up camping evenings across camping areas in the EU.

Reduction in Lithium-ion Batteries Cost to Augment the Product Demand in Forecast Period

Global governments are moving toward a low-carbon energy system to decrease global greenhouse gas emissions. Renewable energies such as solar and wind are becoming cost-effective when compared to fossil fuels. However, low-cost energy storage is needed to balance these sources and transform the transportation network.

Lithium-ion is the most common type of battery. These batteries have gained popularity as the main source of power for portable power storage devices and more units are being produced annually for their useful properties. Battery increase demand, particularly from consumer devices, has historically fueled the lithium market, which has seen its price fall in the past years.

As per research from the Massachusetts Institute of Technology in March 2021, the cost of these batteries has fallen by 97%, making energy storage commercially viable for the first time. A lithium-ion battery consists of several different parts, among which the cell is the most expensive part of any lithium-ion battery followed by electronics, assembly, and packaging.

RESTRAINING FACTORS

Low Functional Ability of the Product to Hinder Market Growth in Forecast Period

A portable power station is a portable battery-powered portable power stations power supply that does not have a wide range of functional capabilities such as those of compact diesel generators. Portable fuel generators can power camping areas and sports vehicles, whether a troop, RV (recreational vehicle), or campervan.

A continuous and reliable power supply is essential for controlling energy-intensive appliances such as water heaters, satellite T.V.s, internet switches, coolers, telephones, and workstations. Portable generators can power microwaves, fans, electric pots, and toaster ovens. In contrast, a portable or mobile power station cannot be used similarly for additional power capacity and load.

Portable Power Station Market Segmentation Analysis

By Capacity Analysis

500 Wh to 1,499 Wh Capacity Segment Share to Rise Due to Long Battery Life

Based on capacity, the market segmented into 500 Wh to 1,499 Wh, less than 500 Wh, and 1,500 Wh and above. The 500Wh to 1,499Wh segment held the largest portable power station market share in 2022 and is anticipated to grow with the highest CAGR during the forecast timeframe, owing to its long battery life and usage in various applications, including off-grid power.

Capacity plays an important part in how long a battery-powered power station lasts. Portable power stations with larger battery banks will last longer. If you tie the power station into a solar array, you have an almost infinite capacity as long as the sun shines. A small charger might charge the phone one time, while a larger one might charge the phone several times before it needs to be recharged.

By Battery Type Analysis

The Cost-effective Nature of Lithium-ion Batteries is Highly Recommended in the Manufacturing of PPS

Based on battery type, the market is segmented into lithium-ion and sealed lead-acid. The lithium-ion battery type is the fastest growing segment in the battery type segment. The non-fuel alternative for portable power station design is provided by lithium-ion battery type. Further, the price of lithium-ion batteries has decreased by 89% in the past decade, which is leading to the cost-effective manufacturing of portable power stations.

Sealed lead-acid batteries are expensive to use, and the life cycle of lead-acid is degrading. Therefore, the use of lead-acid in the manufacturing of portable power stations becomes costly.

By Power Source Analysis

Growth of Renewable Technologies to Power Hybrid System to Augment Segment Growth

Based on power source, the market is segmented into hybrid power and single power source. The hybrid power segment is expected to account for the largest share in the market over the estimated period.

Hybrid systems combine two or more types of electricity generation, commonly using renewable technologies such as wind turbines and solar photovoltaics. Hybrid systems offer a high level of energy security through the combination of production processes. They often integrate a storage system such as a battery and fuel cell to ensure optimum, secure, and reliable supply.

By Sales Channel Analysis

Rise of Internet Use to Fuel Online Segment Growth

Based on sales channel, the market is segmented into online and offline. With growing digitization, online sales channels are expected to grow at the fastest growing rate during the forecast period. The rise of internet use and the order process is the leading cause of the escalation in online sales channels. Orders arriving at doorsteps with many discount options are another reason for the growth of online sales.

The lack of reliability of customers in the manufacturers or sellers is the only reason for the existence of offline sales channels.

By Application Analysis

Emergency/Backup Power to Emerge as Significant Application Owing to Increased Outdoor Recreational Activities

By application, the market is trifurcated into off-grid power, emergency/backup, and others. The off-grid power segment dominated the market owing to increased outdoor recreational and camping activities worldwide. Moreover, the emergency/backup segment also accounted for a significant share in the market. The emergency/ backup segment includes the charging of devices such as smartphones, tablets, and laptops during network and power failures. Increasing power outages due to extreme conditions such as earthquakes, storms, and lightning are likely to increase demand for portable power plants for backup power applications.

REGIONAL INSIGHTS

The global market has been analyzed across major regions, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

North America has the world's largest regional market for portable power stations, predominantly due to the U.S. The trend is predicted to continue during the projected period. A growing emphasis on recreational activities, such as fishing and camping, can be observed in this region. Furthermore, an increasing number of campers are looking to use technologies such as mobiles, laptops, Wi-Fi, and other smart technologies during their camping activities, which they believe, will enhance their camping experience. The use of smart electronic devices and the subsequent need for connectivity requires power, which may drive the growth of the market in the region.

The outdoor camping market is vast and mature. Developed countries in Europe have long history of outdoor activities and strong per capita spending power. Outdoor tourism, camping, fishing, and other outdoor activities have many participants and participation frequencies. There is a large market increase demand for outdoor sports-related supplies and equipment.

The Asia Pacific portable power station market is anticipated to develop at the healthiest CAGR during the forecast timeframe. The growing urbanization and high internet penetration rate drive the demand for electronic equipment in the region.

Portable power stations comprise lithium batteries for their lightweight and longer running, and Latin America is the region with the most Lithium deposits. According to the U.S. Geological Survey (USGS), lithium is one of the most abundant resources in South America. The region is accountable for approximately 55%-60% of the world's lithium resources. Globally identified lithium resources are approximately 89 million tons, distributed across the region, such as Bolivia, 21 million tons; Argentina, 19 million tons; and Chile, 9.8 million tons.

The GCC countries are economically and technologically ahead, while the African countries are yet to expand their purchasing power and adopt advanced technologies. In addition, the ambitious clean energy target set by the countries is set to generate a combined 80 GW of renewable energy capacity by 2030. Currently, solar and wind are leading the renewable energy sector in the countries, which will drive the demand for hybrid power portable power station and eventually drives the market in this region.

List of Key Companies in Portable Power Station Market

GoalZero LLC and EcoFlow to Lead with Extensive Service Profile in this Competitive Landscape

Major players include GoalZero LLC, EcoFlow, and Anker Technology (U.K.) Ltd, Duracell Power, Jackery, and others. The competitive landscape includes major companies account for around half of the market, and many regional and local players dominate the remaining market. Numerous other players operating in the industry are focused on delivering longer battery life and lightweight products catering to consumer demand.

LIST OF KEY COMPANIES PROFILED:

• GOAL ZERO (U.S.)


• BLUETTI Power Inc (U.S.)


• Jackery Inc (U.S.)


• EcoFlow (China)


• Lion Energy (U.S.)


• Shenzhen Sungzu Technology Co., Ltd (China)


• iForway (China)


• Anker Technology (U.K.) Ltd (U.K.)


• Shenzhen Lipower Energy Co., Ltd (China)


• Duracell Power (U.S.)


• Klein Tools (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2023 – BLUETTI unveiled a brand-new model with a bunch of improvements compared to previous portable stations such as EB150 and EB240, AC180. Further, its design kit makes it a well-deserved portable power station for emergency backup, sudden blackouts, excursions, and others.


• April 2022 - Anker Technology (U.K.) Ltd launched the Anker 757 Powerhouse, the world's most advanced and durable portable battery generator. The Anker 757 Powerhouse is powered by a Lithium Iron Phosphate (LiFePO4) battery for long-range electric vehicles. LiFePO4 batteries have longer lifespan and offer improved discharge and charge efficiency compared to other lithium-ion batteries.


• January 2022 – EcoFlow launched the industry-leading DELTA Pro portable home battery in Europe with a base capacity of 3.6 kWh and expandable to 25 kWh. The DELTA Pro is the industry's first portable home battery and can provide several days of backup power for families in emergencies. The company's ambitious vision EcoFlow DELTA Pro is to promote sustainability by providing a robust, low-carbon, and renewable energy solution for individuals, homes, and industries.


• October 2021- EcoFlow launched a portable power station called RIVER mini, having a capacity of 210Wh. The RIVER mini is the most portable and compact power station in the company's product line. The product is designed to provide convenient power for every occasion and lifestyle; the company has expanded its product portfolio by launching EcoFlow River products in the market.


• August 2021 – With the goal of net zero, the 5th generation of Yeti power was introduced with the Yeti-X line. Starting with one of the lightest model, the Yeti 200X launched with REI. The three largest models have elevated inverters that can power anything plug into the outlet.

REPORT COVERAGE

The research report highlights regional and country-level analysis to provide a better understanding to the user. Furthermore, the report provides insights into the latest market trends and analysis of technologies deployed rapidly globally. It further highlights some drivers and restraints, helping the reader extract in-depth knowledge about the industry.

Report Scope & Segmentation