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The state of the portable power station market

Views: 244     Author: Ubest     Publish Time: 2023-10-12      Origin: Site


The state of the portable power station market

With a compound annual growth rate of 6.7%, the global portable power station market is expected to grow from USD 358 million in 2021 to USD 494 million in 2026. This increase can be attributed to the increased use of sophisticated electronic devices, as well as the demand for uninterruptible power supplies for applications such as emergency power supplies, off-grid power materials, and automobiles.

COVID-19's impact on the international portable power station market

COVID-19 continues to have a significant impact on international tourism and flights as people remain at home. Travel and tourism will undoubtedly be impacted by closed locations and resorts, as well as restrictions on travel, outdoor camping, and outdoor leisure activities. According to the World Tourism Organization (UNWTO), all vacation destinations worldwide have implemented travel restrictions as of April 2020; 97 locations (45%) have completely or partially closed their traveler borders; and 65 destinations (30%) have been completely or partially closed. International travel has been halted, and 39 locations (18%) have closed borders, preventing passengers from specific native lands from entering. COVID-19 has already had an impact on Asia-Pacific, Europe, the Middle East, as well as the United States and Canada. The aforementioned constraints have a direct impact on the portable power station market.

Market characteristics of portable power stations

1. Drivers: The increased use of smart digital gadgets may increase sales of portable power stations.

The global electronic devices sector is made up of companies involved in the assembly, production, design, and development of electronic components and devices. The electronic devices industry is just one of the innovative and rapidly expanding markets. The competition is fierce, and the company is constantly striving to be the first to introduce cutting-edge modern technology to the market. Customer products, industrial products, federal government items, and digital parts are the four major segments of the electronic device manufacturing market. Nonetheless, in recent years, the emphasis has been on customer products such as alarms, home communication systems, electronic stoves, desktop computers, video game systems, radios, smart devices, DVD gamers, mobile phones, and televisions. Consumer electronics products have high growth potential as a result of increased financial investment in applications such as smart homes, smart cars, and smart cities. These applications require customers to remain connected to any type of platform, and they require the most recent clever gadgets to do so. This will increase the demand for portable power stations.

Constraints include the high cost of battery-powered portable power stations.

High-efficiency photovoltaic panels, pulse-width inflection (PWM) cost controllers, inverters, lithium-ion NMC (nickel, manganese, and cobalt), and sealed lead acid with silicon dioxide are all components of portable power stations. With the increase in capacity requirements, the size of batteries and solar panels has also increased, resulting in higher prices for portable power stations. For example, major companies such as Goal Zero and Jackery sell solar panels as different accessories, which raises the cost of battery-powered portable power plants. Alternatively, the cost of gas or nonrenewable fuel source generators is relatively reduced due to a wide variety of fuels, such as diesel and gas, as well as lower gas costs. Fuel costs are decreasing as international oil and gas prices fall. Furthermore, some mobile generators powered by nonrenewable fuel sources can use a combination of fuel and gas. Because they are more common and simple to use, natural gas, fossil fuel-based diesel generators, or small engines are more popular than battery-powered portable power plants. Mobile generators are less expensive than battery-powered mobile power stations because they have a simpler structure and fully developed technology.

2. Possibility: Using portable power stations to boost outdoor and camping activities.

Recreation and camping activities (such as angling and walking) are on the rise in the United States and Canada. According to the 2019 North American Camping Report, there are 7 million new camping households in the United States, with the number of campers increasing by 72% since 2014. Campers from Generation X (38%) and millennials (32%) have begun to see themselves as campers and frequently go camping.

The total tourism industry, including domestic and international tourism, reached US$152 billion in 2019, according to data from the Australian Tourist Research Centre. In Australia, 24% prefer to stay in hotels, motels, and resorts, while 14% prefer to stay in RVs as well as camping. According to Eurostat, two-thirds of Europe's camping sites are concentrated in five countries: the United Kingdom, France, Germany, Italy, and the Netherlands. Campers spent an average of 397 million evenings at EU campsites in 2017.

As the desire to stay connected grows, millennials choose to camp, necessitating the use of a variety of digital devices such as laptops, smartphones, rechargeable trekking flashlights, camping lights, fridges, and cooled knapsacks. All of these devices require electricity to function, which expands the possibilities for using portable power plants.

3. Difficulty: Mobile power stations have a lower operating capacity than portable nonrenewable fuel source generators.

Mobile power plants, unlike portable diesel generators, do not have a wide range of operating capacities. Campgrounds and mobile homes (motor homes), whether campers, pop-up campers, motor homes, or campers, can be powered by mobile generators. Water heaters, satellite TVs, Internet routers, refrigerators, telephones, and notebook computers all require dependable power supplies. Portable generators also provide power to microwave ovens, electrical pots, fans, and toaster ovens, whereas mobile power plants cannot.

They additionally provide power for outdoor camping areas and tents. Portable power generation equipment in recreational vehicles can generate enough watts and amps to safely power all of these tools. Diesel-powered and gasoline-powered mobile generators can power heavy tools such as heaters and AC systems, whereas mobile power stations can only power small digital gadgets. Many generators use gas, which is easily accessible at gas pumps, whereas portable power stations must be butted in time, whether using wall surface charging (a/c power) or solar power. There may be no electrical outlets during outdoor tasks, and solar billing may take a long time; as a result, people may consider using mobile generators rather than mobile power plants when camping outdoors.

Interconnection of Markets

Throughout the forecast period, the off-grid component is expected to be the fastest-growing market sector in the portable power plant market by application.

The portable power station market is divided into three segments based on application: emergency power supplies, off-grid power materials, and automobiles. The off-grid power industry is expected to grow at the fastest rate throughout the forecast period. The demand for powering modern electronic devices such as laptop computers and mobile phones is propelling the off-grid mobile power station market. This segment's growth is also being driven by an increase in camping and outdoor recreational activities, as well as an increase in the use of smart digital tools in North America, Europe, and Asia-Pacific.

The United States and Canada are expected to have the largest market dimensions during the projection period.

By region, the market is divided into North America, South America, Europe, Asia Pacific, the Middle East, and Africa. North America, primarily the United States, is the world's largest mobile power plant market, and this trend is expected to continue throughout the forecast period. The increasing emphasis on outdoor camping and outdoor leisure tasks, the increasing use of smart electronic tools, and subsequent connectivity demands that require electrical power are driving the market in this region.

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