NEWS PROVIDED BY Allied Analytics LLP February 22, 2022, 15:23 GMT
Rise in use of smart electronic devices and growth in concerns regarding CO2 emissions drive the growth of the Japan Portable power station market.
Japan Portable Power Station market size was valued at $137.9 million in 2020, and is projected to reach $225.5 million by 2030, growing at a CAGR of 5.1% from 2021 to 2030. A portable power station is a battery-powered generator that can be used to charge various devices, such as fans, mobile phones, computers, and other electronic devices. Charging capacity, minimal maintenance, safety, and portability are the advantages of these portable power stations. In recent years, the growth of the portable power station market has grown significantly, attributed to increase in the use of smart devices, the aging of the network infrastructure, and rise in the use of energy in remote areas.
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The main factors driving the growth of the Japan portable power station market include increase in demand for smart devices (including smartphones and smart watches), as well as the demand for uninterruptible power supplies for applications such as emergency power supplies, automobiles and off-grid power supplies. However, the longer charging time and high cost of portable power stations restrain the Japan portable power station market growth.
The Japan portable power station market is segmented into capacity, application and sales channel. By capacity, the 501-1,000 Wh segment is expected to hold the largest market share during the forecast period. By application, the portable power station market is divided into emergency power, off-grid power and automotive.
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By sales channel, the portable power station market is divided into online and offline. The off-grid power segment is estimated to grow at the fastest rate during the forecast period due to the increase in use of smartphones and surge in camping and other recreational activities.
Moreover, rise in use of smart electronic devices drives the market growth in Japan. The major companies profiled in this Japan portable power station industry report include Anker Technology, Bluetti, Ecoflow, Jackery Inc., Lion Energy, Suaoki, Chilwee Group Co., Ltd., Ges Group Limited Company, Mitsubishi corporation and Alpha ESS Co., Ltd.. The players in the market have adopted several strategies, such as product launch and business expansion, to sustain the market competition.
Key findings of the study
• By application, the emergency power segment accounted for the largest market share in 2020.
• By capacity, the 501-1,000 Wh segment garnered the largest market share in 2020.
• By sales channel, the offline segment garnered the largest market share in 2020.
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Impact of COVID-19 on the global portable power station market
As people remain isolated in their homes, COVID19 continues to have a major impact on tourism and air travel globally. Closed destinations and hotels, as well as travel restrictions, camping and outdoor recreation will affect travel and tourism. According to data from the World Tourism Organization (UNWTO), all tourist destinations in the world have implemented travel restrictions, 97 destinations (45%) have totally or partially closed their tourist borders, and 65 destinations (30%) have been totally or international flights partially suspended, and 39 destinations (18%) are closing borders, prohibiting passengers from certain countries of origin. Additionally, impact of COVID-19 on camping and other outdoor industry affecting portable power station sales. The above restrictions have directly impacted the portable power station market in Japan.
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