What’s Trending in the Global Portable Power Station Market?

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Whats Trending in the Global PortablePower
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
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• Growing Use of Smart Electronic Devices
• 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

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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? 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. Image
Source bit.ly/3U7AkjU