Portable Energy Storage Device Market to Garner $12.5 Billion by 2030: The Brainy Insights
Global portable energy storage device market growth is anticipated to be fueled by the rising popularity of mobile energy storage systems to satisfy the rising demand for energy and key benefits of the product. North America is predicted to have a 34% market share by 2031, up from its expected 30% share in 2021.
Newark, March 03, 2023 (GLOBE NEWSWIRE) — The portable energy storage device market was estimated at around 4.5 billion in 2021, growing at a CAGR of nearly 9.9% during 2022-2030. The market is projected to reach approximately USD 12.5 billion by 2030.
Mobile energy storage devices can be utilised to meet demand in both residential and commercial settings and in emergency situations. They have been employed at far-off construction sites, outdoor gatherings, and EV charging stations. In comparison to stationary storage systems, it offers financial benefits. These solutions assist lessen negative environmental effects and are affordable, dependable, and durable. Governing authorities are preparing the ground for grid-scale deployment by drafting the necessary legislation and regulations. The country’s reliance on imported fossil fuels and energy storage systems would be greatly reduced by the push for electric mobility using contemporary and trustworthy energy storage (ESS). To broaden their global reach, major market participants are concentrating their R&D efforts on mobile energy storage.
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Growth Factors
During the projection period, it is anticipated that rising power consumption would fuel demand for mobile ESS. These independent power units generate electricity using renewable resources. The mobile energy storage system, also known as the mobile ESS, can improve energy resilience in response to severe weather occurrences and the outage circumstances that go along with it. Mobile ESS can be towable or self-moving electric vehicles (such as light trucks, vans, or buses) (towable or transportable via semi-trailer truck). Mobile ESS can use a variety of battery technologies, although Li-based technology is most frequently chosen because of its superior performance and applicability. Globally, the use of mobile ESS is expanding in the business, industrial, and residential sectors. It is anticipated that there would be a surge in investments in renewable energy and the demand for power.
Segmental Overview
Based on product, the mobile energy storage system industry is divided into sodium-based batteries, lithium-ion batteries, lead-acid batteries, and others. Based on application, the market is divided into commercial, industrial, commercial, and others. As a result of industrialization and urbanisation, there is now a much greater demand for reliable power sources. Both rural and urban areas are using more electronic and electric gadgets, which increases the need for power. Technology advancement and digitization are needed to update the ageing infrastructure of the energy system. Furthermore, during the forecast period, rising environmental concerns and a desire to reduce carbon footprints are anticipated to have a significant impact on the global market share for mobile energy storage systems. Their high initial costs are the main commercial barrier for mobile energy storage devices. The lack of awareness about mobile energy storage devices’ advantages in developing nations also hinders the expansion of the business for mobile energy storage systems.
Regional Overview
Asia Pacific region held the biggest market share globally as a result of the growing urbanization and industrialization in developing nations like China and India. The region’s growth is also being fueled by the increasing use of renewable energy. North America is the market for mobile energy storage systems that is rapidly growing because to the rising adoption of renewable energy to meet industrial power demand. As government regulations to track industries’ carbon footprints in Canada and the U.S. get stricter, the North American industry is also growing quickly. Finally, trade with Europe, the Middle East, and Africa is projected to rise because of the area’s growing environmental concerns.
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Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Portable Energy Storage Device Market CAGR | 9.9% |
| Segments Covered | By Type By Application |
List of the prominent players in the Global Portable Energy Storage Device market:
• Aquion Energy
• Green Charge
• LG Chem, Panasonic
• NEC Energy Solutions
• NRG Energy
• Amperex Technology
• Boston Power
• Power Edison
• China Aviation Lithium Battery
• EnerSys
• GE Energy Storage
The global Portable Energy Storage Device market is segmented as follows:
By Type
• li-ion battery
• Sodium-based battery
• Lead-acid battery
• Others
By Application
• Residential
• Commercial
• Industrial
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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