The explosive growth of the portable energy storage industry
In the application of energy storage scenarios, it can be divided into portable, household, industrial and commercial, grid side and other types, among which portable energy storage is an emerging market segment in recent years. Due to the diverse application scenarios of portable energy storage, its market scale is experiencing rapid growth.
What is portable energy storage
Portable energy storage devices, also known as outdoor power supplies, refer to small energy storage devices with built-in lithium-ion batteries.
Generally, portable energy storage products can be divided into two categories according to the charging capacity of a single machine, one is small and portable equipment with a charging capacity of 0.5-1kwh; the other is equipment with a charging capacity of more than 1.5kwh, which can mainly replace previous diesel oil Generator market. Compared with traditional fuel generators,portable power station is safer and more portable without noise and pollution.
Specifically, the charging capacity of portable power station is usually between 200wh and 2000wh, and the output power is between 100w and 2200w, which can supply power for digital devices such as refrigerators and rice cookers and small household appliances. At the same time, since energy storage products usually carry inverters, they can support AC and DC output, while charging treasures can only support DC output.
In addition, portable power station no longer only has a USB interface, but has added a variety of interfaces including AC, DC, Type-C, USB, PD, car cigarette lighter plug, and Anderson interface. In terms of size and weight, portable energy storage is also larger and heavier, and the price is mostly between $300 and $3,000.
At present, portable power station is mainly used in outdoor activities and disaster emergency scenarios. It can provide power for digital devices such as smartphones, tablet computers, drones, lights, refrigerators, and rice cookers, as well as small household appliances, thereby alleviating power shortages, power outages, Emergency rescue and other power shortages.
Global demand and supply of portable energy storage
From the perspective of demand, the use scenarios of portable power station devices are roughly divided into outdoor activities, emergency preparedness and outdoor off-grid power consumption. Among them, outdoor activities are the application field with the largest proportion of portable energy storage power supply, accounting for 43.6%.
In recent years, with the rapid penetration of outdoor lifestyles, a series of consumption scenarios such as camping equipment and camping black technology have continued to explode, driving the continued high growth of the portable power station market.
Secondly, with the frequent occurrence of natural disasters in recent years, people’s awareness of the need for saving disaster prevention items has begun to increase, which is especially evident in the Japanese market.
According to the data, the number of recorded earthquakes of magnitude 5 or above in Japan in recent years has significantly exceeded that of previous years and has continued to increase. For this reason, a Japanese association has listed portable power station products as disaster prevention and safety materials certification products in recent years.
The supply’s level of maturity and the demand side’s explosion are inextricably linked. As for the energy storage market’s supply, it largely depends on lithium battery technology development and cost-cutting under widespread commercial use.
That is to say, the large-scale production of energy storage batteries is inseparable from the substantial increase in energy density brought about by breakthroughs in lithium battery technology.You can learn more about lithium batteries technology from top 10 lithium iron phosphate power battery manufacturers in China.
In addition, with the large-scale commercial application of lithium batteries and the increase in research and development investment, the average unit cost of lithium battery packs continues to decline.
According to data, the average unit cost of lithium battery packs has dropped from $684/kWh in 2013 to $132/kWh in 2021, a drop of 80.70%. The cost reduction has also further promoted portable power station products, which began to replace the previous supply of small fuel generators and lead-acid batteries.
Global portable energy storage market size and forecast
At present, the main market for portable energy storage equipment is still North America, because North American families have a high demand for camping. Judging from the distribution of portable energy storage sales in 2021, the United States is the world’s largest portable power station market, accounting for 47.3%.
According to the report, in 2020, the number of families in North America that camped at least once was 48.2 million, while the number of active families in the United States was 86.1 million, an increase of 20.4% compared to 2014.
During camping, activities such as small picnics, camping, and fishing all require electricity, and outdoor electricity has become a rigid demand, which directly drives consumers’ demand for portable energy storage devices.
China’s outdoor market is still in its early stages of development compared to Europe and the US. The penetration rate of the portable energy storage market will continue to rise in the future due to the rise in leisure activities like outdoor camping and RV travel as well as the ongoing development of the outdoor sports industry, and China’s portable energy storage market is anticipated to experience rapid growth.
The market size for China’s portable energy storage power supply will increase quickly from 370 million RMB in 2018 to 73.67 billion RMB in 2026, according to calculation data.
In comparison to 2020, the market for portable power station is predicted to grow by about 20 times, to 88.2 billion RMB in 2026. In recent years, the portable power station business has continued to expand quickly. Forecasts indicate that the market will be larger than 80 billion RMB in 2026, with enormous growth potential.
Chinese portable energy storage companies
Chinese manufacturers are highly competitive on the track of portable power station. According to data, the factories of global portable energy storage products are mainly located in China, accounting for more than 90% of the production and shipments.
Compared with the world, with advantages in production capacity, cost, talent and quality, Chinese manufacturers have sufficient core competitiveness in the world for all portable power station products because of their mature lithium battery and photovoltaic industry chains. You can check out our top 10 photovoltaic paste companies in China to laern more about Photovoltaic industry.
The competition in the entire portable energy storage market is dominated by domestic brands, which take advantage of the industrial chain dividends to vigorously go overseas and become the global leader.
According to the shipment data, in recent years, the market share of portable power station of Chinese enterprises ranks first and second in the world. At present, the market competition in the portable energy storage industry mainly focuses on technology, brand and quality competition among leading enterprises.