Portable Power Station Market to Surge at 8.2% CAGR from 2023 to 2030; Klein Tools Launched New Solutions to Secure Competitive Edge

The global portable power station market size stood at USD 486.69 million in 2022. The market value is slated to rise from USD 545.04 million in 2023 to USD 948.19 million by 2030 at a CAGR of 8.2% during 2023-2030. The expansion is due to an upsurge in outdoor leisure participation as they contribute to work-life balance.

Fortune Business Insights™ presents this information in its report, titled “Portable Power Station Market Size, Share & COVID-19 Impact Analysis, By Application (Off-Grid Power, Emergency/Backup, and Others), By Power Source (Hybrid Power and Single Power Source), By Capacity (Less than 500 Wh, 500 Wh to 1,499 Wh, and 1,500 Wh and Above), and Regional Forecast, 2023-2030”.

Market Growth Affected Due to Travel Restrictions Amid the Coronavirus Pandemic 

The pandemic resulted in the enforcement of travel restrictions by several countries. Several industry players recorded a decline in revenue considering the closure of recreational activities and public places. These aspects affected industry expansion to a considerable extent.

Klein Tools Announced the Rollout of Portable Power Station that Provides Up to 500W Continuous Power

In January 2022, Klein Tools announced the launch of the Portable Power Station that offers a peak power of 1000W and up to 500W continuous power for power electronics and tools in an easy-to-carry, lightweight device.

The station powers mid-range corded tools and electronic devices in a lightweight device that acts as a better alternative to exhausting, noisy inflators.

Industry Value to Rise Owing to Decrease in the Cost of Lithium-ion Batteries

One of the vital factors propelling the market growth is the reduction in the cost of lithium-ion batteries. The low cost energy storage is required for the transformation of the transport network and the deployment of these batteries resolves this issue.

However, the low functional ability of portable power station solutions may restrain industry expansion to a considerable extent.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/portable-power-station-market-105508

Major Companies Strike Partnership Deals to Strengthen Market Footing

A range of strategies are being formulated by major market participants for strengthening the positions of their businesses. These include merger agreements, acquisitions, and the launch of new solutions. Additional steps comprise the formation of alliances and an upsurge in R&D activities.

Key Players Profiled:

• GOAL ZERO (U.S.)
• BLUETTI Power Inc (U.S.)
• Jackery Inc (U.S.)
• EcoFlow (China)
• Lion Energy (U.S.)
• Shenzhen Sungzu Technology Co., Ltd (China)
• iForway (China)
• Anker Technology (U.K.) Ltd (U.K.)
• Shenzhen Lipower Energy Co., Ltd (China)
• Duracell Power (U.S.)
• Klein Tools (U.S.)

Notable Industry Development

• December 2021 – Klein Tools announced the launch of the KTB1000 Portable Power Station. The solution offers continuous power of up to 1500W for corded power electronics and tools.

Further Report Findings

• Based on region, the market has been analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
• Surging emphasis on recreational activities such as camping and fishing is expected to propel the North America portable power station market share. The region is slated to dominate the global market over the forecast period.
• The Europe market is expected to depict considerable growth throughout the forecast period. The rise is impelled by the surging demand for outdoor tourism.
• By capacity, the market is subdivided into less than 500 Wh, 500 Wh to 1,499 Wh, and 1,500 Wh and above. The 500 Wh to 1,499 Wh capacity segment is estimated to register substantial growth throughout the projected period.
• On the basis of power source, the market is bifurcated into hybrid power and single power source. The hybrid power segment is poised to expand at a substantial pace throughout the study period. The expansion is driven by the high level of energy security.

Table of Segmentation