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The surge of camping activities in North America has increased the demand for mobile power stations

2022-05-26

Increased Camping Activities and Lithium-ion Battery Cost Reduction to Bolster Industry Progress

The spike in camping activities such as trekking, fishing, climbing, and others in North America is expected to boost the product adoption. For example, according to the information provided by the North American camping report 2021, the number of households who participated in hiking activities reached 48.2 million in 2020, and the number of active households participating in the activities in the U.S. was 86.1 million, which is a significant increase in number compared to 71.5 million in 2014. Further, the reduction of rechargeable lithium-ion battery prices is likely to fuel the product adoption. Lithium batteries are highly efficient, provide longer battery life, and last longer compared to lead-acid batteries.

As per the information issued by Bloomberg NEF, lithium-ion battery`s cost witnessed a decline of USD 156 per kilowatt per hour compared to USD 1,183 kWh/hr in 2010. Lithium-ion batteries are used extensively in smart devices and require effective rechargeable power, which, in turn, may fuel power stations` adoption. These factors are expected to drive the growth of the Portable power station market growth.

The benefits of the power station, such as portability and reliability, are likely to fuel the product`s demand. Further, the rising cases of power outages have led to the adoption of renewable energy resources such as power stations to provide continuous electric supply to users. Manufacturers focus on the development of effective power solutions with quick charging capability to enhance user experience. For example, EcoFlow, a U.S. startup, announced a powerful portable system named [Delta Pro" in July 2021. It can be fully charged in under two hours and be expanded to 25kWh. These factors may propel market development in the upcoming years.

However, its low functional ability in comparison with non-renewable portable solutions may hamper the market progress.

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