2022-02-28
According to our latest market study on [Portable Power Station Market by The Insight Partners. Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Capacity, Application, and Battery Type," the market was valued at US$ 211.03 million in 2021 and is projected to reach US$ 295.91 million by 2028; it is expected to grow at a CAGR of 4.9% from 2021 to 2028.
Camping is becoming a popular leisure activity in the US, and over 40.5 million people participated in these activities in 2016. This number encompasses travelers who camp in automobiles and tents, recreational vehicles, and backyards. A portable power station can be used to power a mini-fridge to keep meat and seafood fresh and light up the camping venue. According to the North American Camping Report of 2019, the annual count of camper households in the US has climbed by 7 million since 2014, and the percentage of people preferring camping activities has increased by 72%. In addition to the increasing number of new campers, 38% of the Gen X population and 32% of millennials have begun to go camping regularly. According to Tourism Research Australia, total tourism in 2019 accounted for US$ 152 billion, which includes both domestic and foreign tours. People visiting hotels, motels, and resorts accounted for 24% of visitors in Australia, followed by those going caravanning and camping, which accounted for 14%. According to Eurostat, the UK, France, Germany, Italy, and the Netherlands account for two-thirds of all European campsites. Demands for laptops, cellphones, rechargeable trekking headlights, camping lamps, fridges, and cooler backpacks are growing with an urge among millennials to stay connected to the real world while camping. All of these devices require power to function, which justifies the potential for portable power stations.
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