Portable Lithium Power Station Industry Overview
The global portable lithium power station market size was valued at USD 108.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.2% from 2021 to 2028.
The growth of the market can be attributed to the growing penetration of smart electronic devices. Portable lithium power stations provide a dependable power source with AC inputs and USB ports for output. Moreover, users extensively use portable lithium power stations as they can be easily transported and accessed in remote areas. Consequently, a greater number of residential consumers are willing to invest in portable lithium power stations, which is anticipated to drive the market over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Portable Lithium Power Station Market
Lithium-ion is an advanced technology that is integrated within portable lithium power stations. In portable lithium power stations, rechargeable lithium ions are used as the key component for its electrochemistry. The lithium-ion technology provides the highest energy density, along with the capability to deliver a large volume of current, particularly for high-power applications. Moreover, in terms of weight, lithium is two-thirds times lighter than lead-acid, although providing the same amount of power.
Rising concerns related to the emissions of carbon dioxide (CO2) and other greenhouse gases across the world have encouraged large investments toward the adoption of renewable energy solutions. Portable lithium power stations are commonly utilized for storing renewable energy and supply the same whenever needed. As most of the portable lithium power stations are available in the market, cabs are recharged using solar power. Therefore, technological advancements, coupled with a growing focus on renewable electricity generation, are projected to drive the market over the forecast period.
Emerging economies need to offer dependable access to power in remote locations. Traditional grids are incapable of delivering cost-effective basic power supply to underserved areas in a required amount of time. A portable lithium power station has the potential to supply power across the world, which, in turn, is anticipated to boost the demand for such products in the markets of emerging economies. Moreover, portable lithium power stations are a reliable source of energy with USB outlets and AC inputs. Additionally, these power stations are broadly employed owing to their capability to be effortlessly transported to remote locations. Consequently, a rising number of consumers are ready to invest in portable lithium power stations for their personal usage, which in turn, is anticipated to boost the demand for portable lithium power stations over the forecast period.
On the contrary, the higher cost of portable lithium power stations is the major factor hindering sales in the global market. Moreover, the limited charging time of portable lithium power stations is another factor hampering the overall growth of the market. Simultaneously, a decrease in the sales of electric vehicles during the COVID-19 situation is also one of the factors restraining the market growth. Although, with the growing sales and adoption of lithium technology in the market, the prices will fall in the future. Additionally, the solar rechargeable capability of portable lithium power stations is attracting new customers as the issues related to limited charging time can be eliminated with the solar power capabilities.
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Portable Lithium Power Station Market Segmentation
Grand View Research has segmented the global portable lithium power station market based on type, capacity, sales channel, application, end use, and region:
Portable Lithium Power Station Type Outlook (Revenue, USD Million, 2016 - 2028)
- Direct Power
- Solar Power
Portable Lithium Power Station Capacity Outlook (Revenue, USD Million, 2016 - 2028)
- Less Than 500 WH
- 500 WH to 999 WH
- 1,000 WH to 1,499 WH
- 1,500 WH and Above
Portable Lithium Power Station Sales Channel Outlook (Revenue, USD Million, 2016 - 2028)
- E-commerce
- Brick and Mortar
Portable Lithium Power Station Application Outlook (Revenue, USD Million, 2016 - 2028)
- Emergency Power
- Off-grid
- Automotive
Portable Lithium Power Station End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Residential
- Commercial
- Industrial
Portable Lithium Power Station Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
Market Share Insights
- January 2020: Goal Zero launched the Yeti X series of next-generation lithium power stations at the International CES 2020.
Key Companies profiled:
Some prominent players in the global portable lithium power station market include:
- ALLPowers Industrial International Co., Ltd.
- Blackfire, Inc.
- Bluetti
- EcoFlow
- EGO POWER+
- Goal Zero
- Greenway Power Co. Ltd.
- Jackery Inc.
- Li Power (Shenzhen) Technology Co., Ltd.
- Lion Energy
- Midland Radio Corporation
- Nexpow LLC
- Suaoki
- Westinghouse Electric Corporation
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