What’s Trending in the Portable Power Station Market?

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Whats Trending in the Portable Power Station
Market?
The global portable power station market is
expected to witness growth due to rising power
consumption. Modern lifestyles and the rising
usage of consumer devices have significantly
increased the dependence on power, due to which,
cases of outage largely impact communities
worldwide. While this largely holds true for
rural areas of developing countries, even a
developed nation like the United States faced
record-breaking power outages in 2020, according
to the Energy Information Administration
(EIA). During such emergencies, a portable power
station is pivotal for keeping important gadgets,
such as medical equipment, smartphones, laptops,
and other electronic appliances, charged and
operational. Many power stations are equipped
with both regular AC outlets and USB ports, which
enables charging multiple devices at the same
time. Besides, they are available in a compact
size, which has further increased their
demand. Our experts at Triton Market Research
estimate the global portable power station market
to advance with a CAGR of 5.6 in the forecast
years 2022-2028.
Key Trends Influencing the Portable Power Station
Market Growth
? Growing Use of Smart Electronic Devices
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• A surge in the number of internet users, enhanced
  usage of smart devices, and increasing disposable
  incomes in developed economies have led to the
  expansion of the global smart home market.
• Consequently, the use of consumer electronics,
  such as home intercommunication systems,
  refrigerators, microwave ovens, personal
  computers, laptops, video game systems, tablets,
  and smartphones, as well as smart wearables, such
  as smartwatches and VR headsets, has grown.
• These devices are now equipped with smart
  connectivity features and attractive interfaces
  to enhance user convenience, which has also
  drastically increased their power consumption
  requirements. Portable power stations are thus
  being increasingly adopted to ensure
  uninterrupted power supply to run these devices.
• Rise in Outdoor and Camping Activities
• Changing lifestyles and attitudes, along with a
  growing preference for leisure and rising
  recreational spending, have encouraged consumers
  to participate in outdoor activities. After a
  record 14 million caravan camping trips in
  Australia in 2019, the number had dropped to 10.6
  million trips by December 2020, as a
  post-pandemic effect. However, the caravan
  camping economy massively rebounded post 2020,
  accounting for 12.6 million trips and 7.4
  billion in traveler expenditure.
• This, in turn, has spurred the use of camping
  equipment, such as rechargeable trekking
  headlights, mini- fridges, camping lamps,
  electric lighters, etc., which require power to
  function. Along with these, laptops and mobile
  phones are also essential to stay connected while
  outdoors, which calls for the use of portable
  power stations. Australia is one of the top
  camping destinations in the world, which is
  expected to position the Asia-Pacific portable
  power station market on a growth path.
• Market Limitations v/s Promising Solutions
• A major blockade to market growth is that the
  functional capabilities of portable power
  stations are not as extensive as those of
  portable diesel generators. Also, comparatively,
  they require charging, which is less convenient
  and time-intensive. Besides, the high cost of
  internal batteries in portable power stations
  makes them more expensive.
• However, the use of lithium-ion batteries reduces
  the operational cost of portable power stations
  considerably, as their raw material is easily
  available at affordable rates across key regions
  like Europe, the Asia-Pacific, and North America.
  Moreover, they have higher charging capacity than
  sealed lead-acid batteries, and are hence
  preferred for time-sensitive applications.
• For instance, Jackery Incs Explorer 1500 is a
  lithium-ion battery-based portable power station
  known for its faster charging times. Furthermore,
  compared to sealed lead-acid battery-based
  portable power stations, Li-ion battery-based
  portable power stations are more efficient,
  easily available, easier to carry, and offer
  superior energy density fire resistance. Their
  growing use will play a major role in driving the
  portable power station market.
• FAQs

Q 1) Which are the key segments covered in the
market report?
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The key segments in the portable power station
market include battery type, capacity range,
power source type, and usage type. Q 2) Which is
the key region in the global portable power
station market? North America is the leading
region in the global market, which accounted for
the highest revenue share in 2021 and is also
expected to witness the fastest growth in the
forecasted period.