CHICAGO, June 4, 2020
CHICAGO, June 4, 2020 /PRNewswire/ -- According to the new market research "Portable Power Station Market by Operation Type, Technology Type (Lithium-ion, Sealed Lead Acid), Capacity Type (Less than 500 Wh, 500 Wh to 999 Wh, 1000 Wh to 1499 Wh, 1500 Wh and above), Application, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Portable Power Station Market size is expected to grow from an estimated USD 330 million in 2020 to USD 474 million by 2025, at a CAGR of 7.5%. The drivers for this market are the increasing use of smart electronic devices, growing demand for uninterrupted and reliable power, and stringent emission rules across regions such as Asia Pacific, North America, South America, Europe, and Middle East & Africa. The market is segmented by operation type, technology type, capacity type, application, and region.
By operation type, direct power is expected to dominate the Portable Power Station Market.
The market is segmented by operation type into direct power and solar power. Direct power accounted for the larger share of the Portable Power Station Market in 2019. The direct power market is driven by the growing emphasis on less charging time and reduced cost in regions such as North America, Europe, and Asia regions. In addition, direct power-based portable power stations do not cause loss of supply or self-discharge, and they also do not require any additional accessory.
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By technology type, lithium-ion is projected to have a higher growth rate in the Portable Power Station Market.
The market is segmented by technology type into lithium-ion and sealed lead acid. The lithium-ion segment is estimated to lead the market and is also expected to register a higher CAGR. The increasing need for high durability, high energy density, and faster charging, and availability of lithium-ion at affordable prices drive the growth of this segment.
North America is expected to dominate the global Portable Power Station Market.
North America was the largest Portable Power Station Market in 2019, driven mainly by power outages, increasing use of smart electronic devices, and growing number of camping and outdoor recreational activities in countries such as the US, Canada, and Mexico. Portable power stations are being increasingly implemented to effectively power smart electronic devices during such events so that people can stay connected.
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To provide an in-depth understanding of the market's competitive landscape, the report includes the profiles of some of the top manufacturers in the Portable Power Station Market. These players include Goal Zero (US), Jackery (US), Duracell (US), Milwaukee Tool (US), Anker Technology (England), Indiegogo (US), EcoFlow (US), and Lion Energy (US).
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