Portable Power Stations Global Market Report 2024

The portable power stations market size has grown strongly in recent years. It will grow from $4.16 billion in 2023 to $4.46 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion observed in the historical period can be attributed to the growth in emerging markets, the increase in outdoor and camping activities, and the reduction in the cost of lithium-ion batteries, contributing to the popularity and adoption of portable power stations.

The portable power stations market size is expected to see strong growth in the next few years. It will grow to $5.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to the increasing sales of smart electronic devices, the rising urbanization, and the growing demand for electric vehicles. Key trends expected in the forecast period include a focus on product innovations, the development of solar rechargeable portable power stations, collaborations and acquisitions within the industry, the creation of portable power stations with smart assistance features, and the integration of 4G/5G internet connectivity in portable power stations.

The portable power stations market is anticipated to experience growth driven by the increasing utilization of smart electronic devices. These devices, embedded with microcontrollers enabling continuous connectivity via the internet, have become an integral part of modern living. Portable power stations play a crucial role in supporting these smart devices by providing electric power during situations such as power cuts or outdoor activities, ensuring uninterrupted connectivity. As of August 2022, the Plume IQ Smart Home Market Report revealed that the average home incorporates 17 connected devices, marking a 10% increase from the previous year. The escalating use of smart electronic devices is thus identified as a significant factor propelling the growth of the portable power stations market.

The surge in demand for electric vehicles (EVs) is poised to contribute to the expansion of the portable power stations market. Electric vehicles, propelled by one or more electric motors rather than traditional internal combustion engines, are becoming increasingly popular. Portable power stations offer added flexibility and convenience for EV owners, providing a viable solution for charging in various scenarios. Data from May 2022 indicates a substantial increase in EV sales, reaching 10.2 million units in 2022, almost doubling from the previous year. With projections indicating global sales of 14 million electric cars in 2023, the growing demand for electric vehicles emerges as a driving force behind the portable power stations market's growth.

Technological advancements represent a noteworthy trend in the portable power stations market. Key market players are actively engaged in developing patented technologies aimed at reducing charging times, meeting consumer demands, and enhancing their market positions. A case in point is the September 2021 launch of the DELTA mini portable power station by EcoFlow, a US-based provider of portable power and renewable energy solutions. The DELTA mini introduced patented X-Stream AC fast recharge technology, capable of charging devices up to 900W at a maximum rate of 0%–80% in just one hour, with a full 100% recharge achieved in 1.6 hours. This innovation addresses the need for faster charging speeds compared to other available batteries in the market.

Major companies in the portable power stations market are focusing on product innovations to fortify their market presence. In June 2023, Shenzhen Growatt New Energy Technology Co., Ltd launched VITA 550 in Europe, featuring rapid recharge capabilities through wall sockets and solar panels. The product, capable of fully recharging in 2.5 hours using solar panels, provides over 3000+ lifecycles with LiFePO4 batteries. Additionally, it supports car charging, making it suitable for on-the-go scenarios. This product innovation exemplifies the commitment to meeting diverse consumer needs and enhancing the versatility of portable power stations.

In September 2021, Briggs & Stratton Corporation, a US-based gasoline engine manufacturer, acquired SimpliPhi Power to strengthen its position in the energy storage system market. SimpliPhi Power, a provider of energy storage and management systems, offers a range of products, including portable power stations. This acquisition is aligned with Briggs & Stratton's goal of expanding its energy storage product portfolio and reaching a broader customer base.

Major companies operating in the portable power stations market report are Anker Innovations Technology, Berkshire Hathaway Inc., EcoFlow, NRG Energy, Inc. (Goal Zero), Chilwee Group Co., Ltd.,Milwaukee Tool, Jackery, Shenzhen Sungzu Technology Co., Ltd., AlphaESS, BLUETTI, Allpowers Industrial International, CTECHI, VIPTEK, Luminous Power Technologies, Su-Kam Power Systems, Goal Zero India, Enerdrive, Goal Zero Australia, Ezy Power, Anker Technology Ltd., ABF Energy, Lyon Energy, MAN Energy Solutions, Aksa, Fuergy, Midland Radio Corp, Scott Electric Inc., Enel X, EVBox, Blink Charging Co, Ultimate Power Solutions Fzc, Atlas Copco Saudi Arabia, Leap Technologies FZC, United Transformers Electric, Terraco, Kenstan Design Tech, Monbat Batteries PLC, Electrocomp pty Ltd.

North America was the largest region in the portable power stations market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the portable power stations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the portable power stations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main power sources for portable power stations are hybrid power and direct power. Hybrid portable power stations incorporate two different power sources, such as photovoltaic panels and a gasoline engine. The technologies involved include lithium-ion and sealed lead-acid batteries. These power stations come in various capacities, including 0-100 WH, 100-200 WH, 200-400 WH, 400-1,000 WH, 1,000-1,500 WH, 1,500 WH and above. They are sold through online sales and direct sales channels and are used for applications such as emergency power, off-grid power, automotive, and others.

The portable power solutions market research report is one of a series of new reports that provides portable power solutions market statistics, including portable power solutions industry global market size, regional shares, competitors with a portable power solutions market share, detailed portable power solutions market segments, market trends and opportunities, and any further data you may need to thrive in the portable power solutions industry. This portable power solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The portable power station market consists of the sales of electrical, gas-powered, solar, and other types of portable power stations. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.