The global Portable Lithium Power Station Market size is expected to reach USD 282.0 million by 2028, according to a new study conducted by Grand View Research, Inc. It is expected to expand at a CAGR of 13.2% from 2021 to 2028. With the improvement in battery technology, coupled with the increasing demand for portable power packs from the consumer electronics sector for powering notebooks, mobiles, tablets, and other smart devices, the demand for portable lithium power stations is anticipated to grow over the forecast period. Additionally, the rising demand for portable lithium power stations in a variety of application areas, including automotive, off-grid, and emergency power, is expected to create significant opportunities for the vendors operating in the market over the forecast period.
The
key factors driving the market are the increasing penetration of smart
electronic devices, rising demand for reliable and uninterrupted power, and
stringent emission rules across regions. Moreover, the stringent regulations
made by the government bodies on carbon emission and the growing adoption of
advanced technologies by the customers are the key challenges faced by the
vendors with regards to manufacturing the products that are planned with the
latest demanding features and applications, which surely limits the market from
expanding its reach.
The
market is served by a blend of large players with international presence and
capabilities to serve customers from different regions and local and domestic
players that are having a strong foothold in the local markets. The key
strategies adopted by these players include product launches, product
development, expansions & investments, and partnerships and collaborations.
New product development and launches were the most common strategies adopted in
the past few years by the majority of vendors operating in the market.
Moreover, partnerships and collaborations were another majorly adopted strategy
by vendors to reinforce their product and service offerings and footprints
across the globe. However, a decrease in the sales of electric vehicles,
coupled with imposed restrictions on tourism and travel during the COVID-19
situation, is hindering the market growth. Asia Pacific is expected to witness
substantial growth over the forecast period owing to the rising demand for
portable lithium power stations to ensure continuous power supply during power
outages, outdoor recreational activities, and camping in China, India, and
Japan
Related Press
Release@ Portable Lithium Power Station Market Report
Portable Lithium Power Station Market Report Highlights
- By type, the
solar power segment is anticipated to witness significant growth in the
years to come owing to the increasing emphasis on the use of renewable
energy
- The 1,000 Wh
to 1,499 Wh capacity segment is anticipated to witness high growth as
1,000 Wh to 1,499 Wh power stations are increasingly used for powering
large-sized devices and equipment along with multiple smaller devices,
such as smartphones, tablets, and laptops
- The
e-commerce sales channel segment is anticipated to witness significant
growth over the forecast period owing to the growing penetration of
digital platforms for transactions, coupled with the rising number of
smartphone users
- The off-gird
application segment is anticipated to register the highest CAGR over the
forecast period owing to the increasing outdoor recreational and camping
activities across the globe, which is expected to create healthy demand
for portable lithium power stations to fulfill the power requirements at
remote locations
- The
industrial end-use segment is expected to grow at a significant rate over
the forecast period owing to the growing need for continuous power and the
availability of industrial-grade portable lithium power station
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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