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.
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.
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
- 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.
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
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
- Indiegogo, Inc.
- Lion Energy
Global Portable Power Station Market, by Technology
- Sealed Lead Acid
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
Global Portable Power Station Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.