Portable Power Station: Introduction
- Portable power stations are used for long-term energy supply through capture, storage, and electricity supply in immediate manner while achieving sustainability as compared to conventional power stations in locations around the globe
- Portable power stations enable a modular, smarter, and more resilient power generation infrastructure through peak demand management. In portable power stations, increased integration of renewable energy is possible.
- Portable power stations enable electricity supply in plug and play manner and generate electricity within a few minutes. Additionally, they also contribute in reduction of carbon-dioxide (CO2) emissions.
- Portable power stations are able to provide additional electricity during peak shifting. They also support grid networks at a short notice, for any period of time or seasonally, if required.
- Traditionally, portable power stations are suitable for power outages and long-term energy supply whenever there’s an immediate or emergency need of electricity.
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Key Drivers of Global Portable Power Station Market
- Key drivers of the global market for portable power station include increasing usage of smart grid services, aging electricity grid infrastructure, and increasing usage of power in remote areas for power
- Developing countries need to offer reliable access to electricity in remote areas. Traditional centralized grids are unable to provide cost-effective basic electricity supply to underserved areas in a reasonable amount of time. Remote and distributed power systems have a potential to supply electricity across the world, which in turn is estimated to boost the portable power station market in developing countries across the world during the forecast period.
- Growing concerns about emissions of CO2 and greenhouse gases across the world have prompted substantial investments toward generation of renewable energy. Portable power stations are widely utilized for storage of renewable energy and to supply of power whenever needed. Thus, technological shift toward renewable electricity generation is estimated to drive the global market for portable power station during the forecast period.
- Portable power stations provide a reliable source of power with AC inputs, USB outlets. Furthermore, power stations are extensively employed owing to their ability to be easily transported to remote areas easily. Consequently, an increasing number of consumers are willing to invest in portable power stations for their personal use, which in turn is expected to boost the global portable power station market during the forecast period.
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Restraints of Global Portable Power Station Market
- Lack of awareness among developing countries about the utility of portable power stations to reduce energy costs and CO2 emissions is a key restraint of the global market
Major Developments
- In June 2020, EcoFlow introduced its latest product R600 on Kickstarter, a U.S.-based public benefit corporation, raised over US$ 2.8 million in 2019. The new R600 series is designed to cater to the needs of customers. Every R600 series product comes with X-link; the function enables two R600s to connect and double their power output and capacity.
- In July 2015, Bluetti, a leading company that supplies power solutions globally, announced the launch its new AC200 portable power station, which could be an ideal choice for outdoor activities and people who live in areas that reel under massive outages enabling them to celebrate their lives and light up their nights. AC200 is a clean and quiet portable power station that features a 1700Wh lithium battery and a continuous AC output of 2000W.
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Asia Pacific to Hold a Major Share of Global Portable Power Station Market
- Based on region, the global portable power station can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the global portable power station market between 2020 and 2030, due to rising investments and advancements in the renewable energy sector in the region, especially in developing economies such as China and India. An article published by the United Nations Environment Program on total renewable energy investments in 2018 states that China leads the global investment in renewable energy (US$ 91.2 Bn). Investments in the country are anticipated to increase further, with a larger number of renewable energy projects planned during the forecast period.
- The portable power station market in Europe is expected to expand rapidly during the forecast period, owing to use of a considerably high number of hybrid electric vehicles (HEVs) and electric vehicles (EVs) in the region. Total investment in the renewable energy sector in the region was valued at US$ 61.2 Bn in 2018.
- North America is likely to hold a considerable share of the global portable power station market from 2020 to 2030, owing to high electricity consumption, stringent federal policy directives and regulations concerning greenhouse gas emissions, rising energy costs, and increasing awareness about benefits of portable power stations in the region
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Key Players Operating in Global Market
Some of the major players operating in the global portable power station market are:
- Goal Zero
- MAXOAK TECHNOLOGY
- Jackery, Inc.
- Duracell Inc.
- Milwaukee Tool
- Anker Technology (UK) Ltd
- EcoFlow
- Indiegogo, Inc.
- Lion Energy
Global Portable Power Station Market, by Technology
- Lithium-ion
- Sealed Lead Acid
- Others
Global Portable Power Station Market, by Type
- Gas Powered
- Battery Powered
Global Portable Power Station Market, by Capacity Range
- Less than 500 Wh
- 501-1,000 Wh
- 1,001-1,500 Wh
- Above 1,500 Wh
Global Portable Power Station Market, by Capacity Range
- Off grid-support
- Emergency Power