Portable Power Station Market Emerging with CAGR of 4.9% during 2021–2028.

 The global portable power station market can be divided into five regions: North America, Asia Pacific, Europe, the Middle East and Africa, and South America. The global market is being driven by rising usage of smart grid services, ageing electricity grid infrastructure, and increased use of power in remote locations. Developing countries must ensure that power is available in remote areas. Traditional centralized networks are unable to provide basic electricity to underserved areas in a timely and cost-effective manner. During the forecast period, the portable power station market in developing nations is predicted to grow due to the possibility for remote and scattered power systems to supply electricity around the world.

Duracell, Goal Zero, Shenzhen Chafon Technology Co. Limited, Bluetti, and ChargeTech – Prominent Market Participants in Portable Power Station Market

Due to high electricity consumption, stringent federal policy directives and regulations concerning greenhouse gas emissions, rising energy costs, and increasing awareness about the benefits of portable power stations in the region, North America is expected to hold a significant share of the global portable power station market from 2020 to 2030. . Recreational and camping activities such as fishing and hiking are becoming more popular, particularly in North America. There is a demand for various technological equipment such as laptops, cellphones, rechargeable trekking head lights, camping lamps, fridges, and cooler backpacks as the urge to be connected grows and millennials choose for camping. All of these technologies require power to function, which expands the potential for portable power stations. Because of the rising number of consumer electronics manufacturers and also the rising demand for alternate backup power solutions in Europe, the portable power station market is likely to grow fast over the forecast period.

Due to increased investments and improvements in the renewable energy sector in the region, particularly in developing nations such as China and India, the Asia Pacific region is predicted to dominate the global portable power station market between 2020 and 2030. According to a UN Environment Program report on overall renewable energy investments in 2020, China leads the world in renewable energy investment (US$ 91.2 billion). Investments in the country are expected to rise even more throughout the projection period, with a greater number of renewable energy projects planned.

Duracell, Goal Zero, Shenzhen Chafon Technology Co. Limited, Bluetti, and ChargeTech – are among the well-known players operating in the global portable power station market and are focused on product development and innovations. In the South and Central America region, Brazil was the worst-hit country followed by Ecuador, Chile, Peru, and Argentina in 2020. To curb the spread of the COVID-19 virus, respective economic operations in the region were halted partially. The governments of South American countries took an array of actions to protect their citizens and contain COVID-19’s spread. South American countries were experiencing growth in several industries over the past few years. Industries such as consumer electronics and tourism were experiencing a fair growth rate till March 2020. Brazil has the largest tourist sector in the region. With the decline in the count of travelers, the need for portable power stations for weekend trips and long drives reduced drastically. With increasing vaccination drives across the region, the portable power station market is expected to return to its earlier state by the end of 2022.

The top five companies in the market are Duracell, Goal Zero, Shenzhen Chafon Technology Co. Limited, Bluetti, and ChargeTech. The above listing of key players is derived by considering multiple factors such as overall revenue, current portable power station market portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below: