How is the market for portable power supplies in North America
Portable power supply in the North American market shows strong demand growth and market potential, the following is a detailed analysis of the market:
Market Size and Growth Trends
Market size: North America is one of the largest portable power markets in the world, with a market share of up to 42% for portable power stations in North America in 2022. Taking the United States as an example, the U.S. portable power station market size was USD 1.23 billion in 2022 and is expected to reach USD 1.78 billion by 2032, at a CAGR of 3.80%. In addition, according to QYResearch research, the global mobile power market sales revenue reached $30.1 billion in 2023, and is expected to grow at a CAGR of 5.4% in the next few years, of which the North American market has a certain share.
Growth Trend: In recent years, the market demand for portable power supply has continued to rise with the growing enthusiasm of consumers for outdoor activities and the booming development of outdoor sports programs. At the same time, the frequent occurrence of natural disasters has also increased the market demand for portable energy storage equipment, driving the portable energy storage market from its inception into the outbreak period.
Consumer demand and preference
Large capacity: North American consumers are more inclined to buy large-capacity portable power station to meet the power needs of long-time outdoor activities.
Bring your own cable: Solar panel with their own cable are also popular in the North American market, which provides consumers with a more convenient charging experience.
Brand and cost-effective: When choosing portable energy storage, North American consumers are not only concerned about brand awareness, but also focus on the cost-effectiveness of the product. They are more willing to pay a reasonable premium for high-quality, high-performance products.
Market Opportunities and Challenges
Market Opportunities: With the popularization of outdoor sports and the rapid development of the emergency market, the application of portable power supply in the North American market is promising. At the same time, consumers' increasing concern for environmental protection and energy-saving products has also brought new development opportunities for the portable power supply market.
Market Challenge: Although the portable power supply market is promising, the market competition is also becoming increasingly fierce. How to stand out among the many brands and become the preferred brand in the minds of consumers is a problem that every manufacturer needs to think about. In addition, product quality, after-sales service and other aspects of the improvement is also the focus of manufacturers need to pay attention to.
To summarize, portable power supply has a broad market prospect and growth potential in the North American market. However, in the face of fierce market competition and changing consumer demands, manufacturers need to continue to innovate and improve product quality to meet consumer expectations and win market share.
