Portable Lithium Power Station Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Portable Lithium Power Station Market Size accounted for USD 126 Million in 2021 and is estimated to achieve a market size of USD 365 Million by 2030 growing at a CAGR of 12.8% from 2022 to 2030. The increased penetration of smart electronic gadgets can be attributed to the global portable lithium power station market growth. Furthermore, technological developments, combined with an increasing emphasis on renewable energy generation, are predicted to propel the portable lithium power station market value over the research period.
Portable Lithium Power Station Market Report Key Highlights
- Global portable lithium power station market revenue is expected to increase by USD 365 million by 2030, with a 12.8% CAGR from 2022 to 2030
- North America region dominates with more than 43.8% portable lithium power station market share in 2021
- Asia-Pacific market is expected to reach at a CAGR of 13.4% from 2022 to 2030
- By operation type, direct power segment engaged more than 60% of the total market share in 2021
- Among application, emergency power segment has captured 57.5% revenue share in 2021
- Increasing use of Smart electronic devices, drives the portable lithium power station market size
Portable lithium power stations are a type of power station that combines power and portability. Furthermore, portable lithium power stations are designed to provide backup for emergencies, portable power for travel, and profit-making businesses.
Global Portable Lithium Power Station Market Dynamics
Market Drivers
- Increasing use of Smart electronic equipment
- Growing demand for reliable & uninterrupted power
- Growing emphasis on green environment projects for long-term viability
- Rising government initiatives/involvement in lithium-ion battery use
Market Restraints
- High cost of battery-powered mobile power stations
- longer charging period of solar-powered portable power stations
Market Opportunities
- Increasing outdoor and camping activities
- Evolving lithium-ion technology
Portable Lithium Power Station Market Report Coverage
| Market | Portable Lithium Power Station Market |
| Portable Lithium Power Station Market Size 2021 | USD 126 Million |
| Portable Lithium Power Station Market Forecast 2030 | USD 365 Million |
| Portable Lithium Power Station Market CAGR During 2022 - 2030 | 12.8% |
| Portable Lithium Power Station Market Analysis Period | 2018 - 2030 |
| Portable Lithium Power Station Market Base Year | 2021 |
| Portable Lithium Power Station Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Power Source, By Operation Type, By Application, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Goal Zero, Duracell Inc., Jackery Inc., Lion Energy, EcoFlow, Bluetti, ENF Ltd., The Milwaukee Electric Tool Corporation, Anker Innovations, and Scott Electric Corporation. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Rising Focus On Green Environment Projects For High Sustainability Bolsters The Global Portable Lithium Power Station Market Trend
According to the OECD report, global energy demand is rapidly increasing due to population and economic growth, particularly in emerging market economies. Rising energy demand is being driven by population and economic growth, particularly in large emerging economies, which will account for nearly 90% of energy demand growth through 2035. Green growth, on the other hand, has the potential to reduce the burden on land, air, and water resources by creating lucrative opportunities for gains in productivity, quality of life, and social equity. Several countries launched stimulus programs involving green energy, accounting for USD 1.8 trillion in International Energy Agency (IEA) spending on clean energy technologies and energy efficiency, with a 10% average spending on clean energy technologies and energy efficiency. Furthermore, as lithium-ion battery costs fall, electric vehicles are rapidly emerging as a viable option and vice versa. Plug-in hybrid electric vehicles provide an important transition step toward electric vehicles. These vehicles represent an important step toward vehicle electrification by increasing battery storage in hybrid vehicles and offering a plug-in option.
Rising Government Initiatives/Involvement Involving Lithium-Ion Batteries Propel The Growth Of Global Market
Historically, lithium-ion battery technology has been used in the electronics and transportation industries. They are also increasingly being used to replace lead-acid batteries in a variety of applications. They are becoming a hot topic worldwide due to their low self-discharge and high energy efficiency as a rechargeable, versatile battery type with numerous advantages over lead-acid. Large-scale electric vehicle (EV) manufacturing and development are aggressively lowering the prices of Li-ion batteries, which have a positive impact on automobile applications. According to a National Renewable Energy Laboratory report, Li-ion batteries are the most widely accepted battery storage in today’s world accounting for more than 90% of the total global grid battery storage market. Additionally, the Greening and Grid Program is expanding, as are advanced lead-acid and flow batteries, to provide grid support and reduce renewable curtailment.
COVID-19 Impact On The Global Portable Lithium Power Station Market
According to the IEA report, the current economic crisis differs from the financial crisis in a number of ways. The overall effectiveness of these energy-related funds is difficult to assess. However, one example involves European Union member countries spending on clean energy measures such as energy efficiency, transportation infrastructure, vehicle scrappage policy schemes, renewable energy, and innovation. Spending on such specific measures raises GDP at the national level by 0.6-1.1%, depending on the level of the country, and by up to 1.5% at the EU level. Apart from that, strong support for R&D for lithium-ion battery storage systems and electric vehicles from the US resulted in accelerated cost reductions and improved standardization of EVs and grid storage.
Portable Lithium Power Station Market Segmentation
The global portable lithium power station market segmentation is based on power source, operation type, application, and geography.
Portable Lithium Power Station Market By Power Source
- Hybrid Power
- Solar Power
According to a portable lithium power station industry analysis, solar power is predicted to dominate the global market in terms of power sources. As there is a strong emphasis on the use of renewable energy globally, it is one of the major factors responsible for segmental growth, ultimately contributing to the growth of the global market.
Portable Lithium Power Station Market By Operation Type
- Direct Power
- Solar Power
According to operation type, the direct power segment makes up the largest share of the global market. This rise is primarily due to the fact that it charges faster than solar power. This is one of the most important factors influencing the growth of the global portable lithium power station market.
Portable Lithium Power Station Market By Application
- Emergency Power
- Automotive
- Off-Grid Power
According to a portable lithium power station market forecast, the off-grid power segment will develop at the quickest rate in the coming years. This growth is due to an increase in smartphone usage as well as an increase in camping and other recreational activities over the years. These factors have a positive impact on the global portable lithium-ion power station market.
Portable Lithium Power Station Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
North America Dominates; Asia-Pacific To Register Fastest Growing CAGR For The Portable Lithium Power Station Market
North America has held the lion's share of the portable lithium power station market in the past and will continue to do so during the forecast period. With a strong focus on recyclers in the United States, it enables the use of lithium-ion batteries, which contributes to the growth of the portable lithium power station market. Furthermore, Li-ion batteries are being used in both the stationery and transportation markets in the United States, where they have gained significant traction. Its sales more than doubled between 2013 and 2018 due to its quick rechargeability. The transportation sector is the fastest growing, consuming 60% of Li-ion batteries and contributing US$40 Million to the states of North America.
Asia-Pacific, on the other hand, has the fastest-growing CAGR for the portable lithium-ion power station market during the forecast period. This is due to an increase in demand for portable lithium power stations that provide uninterrupted power supply during power failures, indoor and outdoor recreational activities, and powers load shedding particularly in India, China, and Japan. Because of China's increased emphasis on recyclability, the market for portable lithium power stations has gained significant attention in Asia Pacific countries. Because lithium batteries can be recycled and even refined into battery-grade materials, they have gained significant market traction. According to a World Economic Forum report, the number of batteries recycled in 2018 is estimated to be 97,000 tones. 67,000 tones were processed in China, while 18,000 tones were processed in South Korea. Such factors contribute to the expansion of the portable lithium power station market.
Portable Lithium Power Station Market Players
Some of the top portable lithium power station market companies offered in the professional report includes Goal Zero, Duracell Inc., Jackery Inc., Lion Energy, EcoFlow, Bluetti, ENF Ltd., The Milwaukee Electric Tool Corporation, Anker Innovations, and Scott Electric Corporation.
Frequently Asked Questions
What is the size of global portable lithium power station market in 2021?
The estimated value of global portable lithium power station market in 2021 was accounted to be USD 126 Million.
What is the CAGR of global portable lithium power station market during forecast period of 2022 to 2030?
The projected CAGR portable lithium power station market during the analysis period of 2022 to 2030 is 12.8%.
Which are the key players operating in the market?
The prominent players of the global portable lithium power station market are Goal Zero, Duracell Inc., Jackery Inc., Lion Energy, EcoFlow, Bluetti, ENF Ltd., The Milwaukee Electric Tool Corporation, Anker Innovations, and Scott Electric Corporation.
Which region held the dominating position in the global portable lithium power station market?
North America held the dominating portable lithium power station during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for portable lithium power station during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global portable lithium power station market?
Increasing use of Smart electronic equipment, and growing demand for reliable & uninterrupted power, drives the growth of global portable lithium power station market.
By operation type segment, which sub-segment held the maximum share?
Based on operation type, direct power segment is expected to hold the maximum share of the portable lithium power station market.
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