Camping is trending: effect on portable power station industry
Daily, more research reflects the anticipated growth of the portable power station market, especially in the next decade. Considering how many people go camping each year and the increasing use of smart electronic devices with the requirement for an uninterrupted power supply during camping, it’s not easy to argue with these facts.
Within the last few years, the portable power station industry has already started to grow, and the expectation is for higher growth as better consumer electronics charging technologies unfold. This is especially great news to people who have grasped the benefits of spending time outdoors and intend to keep committing more time to camp every year.
However, manufacturers in this industry must constantly compete for key factors for growth in the market like price offer, reliability and durability, and higher battery capacity of portable power stations.
Impacts of COVID-19 on Camping Experience
The obvious truth is the COVID-19 pandemic hurt the global portable power station market. Due to the nationwide lockdowns and shutdown of tourist destinations and public spaces imposed by several countries, most regular campers had to endure restrictions that kept them in their homes. This constrains canceled travel plans, caused an enormous decline in recreational activities, and also a fall in sales of portable power stations. Likewise, the shutdown of factories due to government orders and the production of raw materials used to make portable power stations had its share of the impacts.
However, as expected from most downtimes, 2021 came with a significant increase in outdoor activities and consumption of portable power stations. Almost everyone feels excited to go camping, hiking, and other outdoor activities with their families again. This has led to growth in the portable power station industry worldwide.
- Here are some significant changes in the camping experiences due to the COVID-19 pandemic.
- With the increase in weekly trips, more campers are committing and creating camping habits.
- People no longer mind taking their work to their camping sites.
- Students now take classes remotely from their camping location.
- Campers now prefer locations with access to cell or WiFi services since these technologies impact the camping experience.
Younger generations motivate the growth of the global portable power station
Annual independent studies show that younger people are beginning to make up the largest group of campers. GenZ campers are significant drivers for the global portable power station industry since they may not afford RVs due to income restrictions. The efficiency of this generation at dominating the internet also draws attention towards the value of the portable power station in generating power while camping in remote places. Younger people are camping more frequently than ever with friends or partners, and requiring their devices to do most tasks, in turn, aids the global portable power station’s growth.
The increasing use of electronics devices drives up the sales of portable power stations
Globally, the electronics industry includes every process of assembling, manufacturing, designing, developing electronic devices. It’s also one of the most innovative and fast-evolving industries. For an industry moving at this pace, competition is expected to be fierce. Every firm is looking for new ways to introduce the latest technology to the market before the others. Much attention has been given to consumer products such as smartphones, televisions, personal computers, radios, gaming systems, cameras, and others in recent years. These devices are some of the items most campers keep company while going on long trips. While people prefer to remain connected regardless of their environment, the increasing production of these latest smart devices drives the demand for portable power stations on the market.
Lithium-iron-phosphate (LFP) batteries to dominate the portable power station market
Technology type is one of the critical market segmentation. Even though the market is populated by Portable power stations running on lithium-ion, models running on Lithium-iron-phosphate (LFP) batteries are anticipated to have a surge growth this year. These facts are attributed to the availability of the resources required to make the LFP batteries and their affordability compared to the current scarce cobalt, nickel, and aluminum prices. Asides from the operational costs, lithium iron phosphate (LiFePO4) batteries offer more lifecycles. They are safer, non-toxic, and more efficient.
Domination of the global market with 400Wh to 1000Wh portable power stations
Another way the portable power station industry is segmented is based on capacity and application. The capacity determines the strength of the solar generators and how many devices it can juice up from a single charge. People purchase based on the application since the power station serves as a backup energy source when emergency power is needed or in off-grid locations. The market is starting to show a dominating section of consumers demanding power stations of between 400Wh to 1000Wh, such as the Acevolt Campower 700 for camping. Other market sections include people camping with additional power capacity to charge appliances with higher power requirements like Acevolt Campower 2000 portable power station for camping.
Love for the outdoors encourages campers to use the portable power station
Most campers admit that their drive came from their love for outdoor experiences. These sparked interests have continued to create more interest in several outdoor creational activities including, hiking, fishing, biking, and others. Although younger campers dominate this trend, camping offers to all campers, regardless of their age or ethnic background, a time to relax, reduce stress, clear minds, and spend more time with family and friends. More people are drawn to purchasing portable power stations as one of the top essentials for quality camping and enjoy the full benefit of being outdoors during these periods.
Portable power stations can capture energy, store it, and serve as a long-term energy source. Compared to conventional power stations around the globe, the portable power station industry portrays a modular and more resilient infrastructure through proper management. There are several reasons why portable power station is in high demand today. Consumers enjoy the benefits of renewable energy and carbon dioxide emissions reductions while providing electricity during camping trips. Aside from camping purposes, the portable power stations support grid networking at short notice. They are also suitable for immediate need for electricity due to power outages.