Portland, OR, Feb. 17, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global portable power station market was valued at $4.0 billion in 2021 and is projected to reach $5.9 billion by 2031, registering a CAGR of 3.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4.0 Billion |
| Market Size in 2031 | $5.9 Billion |
| CAGR | 3.9% |
| No. of Pages in Report | 336 |
| Segments Covered | Type, Application, Sales Channel, and Region. |
| Drivers | Rise in the utilization of smart electronic devices |
| Growth in concerns regarding CO2 emissions | |
| Restraints | High cost of battery-powered portable power stations |
| Opportunities | Increase in outdoor and camping activities |
Covid-19 scenario-
- A decrease in the sales of electric vehicles, coupled with imposed restrictions on tourism and travel during the COVID-19 situation, hindered the market growth.
- However, after the release of the ban on COVID-19, most countries have invested in the development of tourism and implemented policies to adopt eco-friendly power sources in residential spaces, which have a positive impact on the development of the market growth.
The global portable power station market is analyzed across type, application, sales channel, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the 501-1000Wh segment held the largest share in 2021, garnering approximately two-fifths of the global portable power station market revenue, and is projected to maintain its dominance by 2031. The more than 1500 Wh segment, on the other hand, would showcase the fastest CAGR of 4.6% during the forecast period.
By application, the emergency power segment contributed to nearly 72.3% of the global portable power station market share in 2021 and is projected to rule the roost by 2031. The automotive segment, on the other hand, would display the fastest CAGR of 4.5% throughout the forecast period.
By sales channel, the offline segment accounted for the highest share in 2021, generating around half of the global portable power station market revenue. The offline segment, simultaneously, would portray the fastest CAGR of 4.1% during the forecast period.
By region, North America held the major share in 2021, garnering more than one-thirds of the global portable power station market revenue. The Asia-Pacific region simultaneous would showcase the fastest CAGR of 4.4% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.
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The key market players analyzed in the global portable power station market report include Alpha ESS Co., Ltd., Anker Technology, Bluetti, Chilwee Group Co., Ltd, Duracell, GES Group Limited Company, Jackery Inc., Lion Energy, Milwaukee Tool, Mitsubishi Corporation, NRG Energy, Inc., Scott Electric Company, and Suaoki. These players have adopted various strategies to gain a higher share or retain leading positions in the market. Many leading manufacturers and suppliers have longstanding contracts with end users to supply fuel dispensers. Further, manufacturers are focused on establishing their manufacturing facilities in the countries such as the UK, the U.S., and China to cater to increasing demand in the region.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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