Portable energy storage has exploded in the niche market since 2018. After a few years of development, portable energy storage has matched the pain points of the power supply market with its many advantages, such as safety, portability, large capacity and power, and wide adaptability. It has wide coverage of outdoor activities, disaster prevention and other scenarios, and the market size has grown rapidly.
According to GGII statistics, the global shipment of portable energy storage devices reached 4.838 million units in 2021, and it is estimated that the global shipment of portable energy storage devices will reach 31.1 million units by 2026, with a 5-year CAGR of +45%. The global shipment of portable energy storage batteries was 1.3 GWh in 2021, and it is expected to reach 8.4 GWh by 2026, with a 5-year CAGR of +45%. The market size reached 11.13 billion yuan in 2021, and it is estimated that the global portable energy storage market size will exceed 80 billion yuan by 2026, with a 5-year CAGR of +48%.
The popularity of outdoor activities in developed countries in Europe and America has pushed up the demand for portable energy storage: taking the US outdoor market as an example, the proportion of people participating in outdoor activities is 48%, which is conducive to the rapid penetration of portable energy storage products, and the market space is vast. The development of China's outdoor market is still in its early stages, and the participation rate of leisure activities is only 9.5%, and the increase in the number of private cars owned has promoted demand, but the overall size is still small. With the continuous popularization of outdoor sports in China, it will further stimulate the broad demand for portable energy storage in outdoor activity scenarios. Frequent natural disasters have significantly increased the awareness of residents' emergency preparedness, stimulating the demand for emergency preparedness among local residents. Take Japan as an example: Japan is located in the Pacific Ring of Fire, with frequent earthquakes, typhoons and other disasters, which has led to a strong demand for portable energy storage products.
The economic effectiveness of household energy storage: Residents in Europe and other regions face high electricity prices, and the electricity price subsidy for grid connection (Feed-in tariff, FiT) leads to a decrease in electricity prices, which highlights the economic effectiveness of self-use of portable energy storage. China's power system is developed and its electricity prices are affordable. Household energy storage is still in its early stages of development. In the future, with the rapid decrease in the cost of energy storage systems and the gradual realization of household-side grid-parallel energy storage pricing, the household energy storage market is expected to explode.
Take Germany as an example. In 2019, the cost of light storage/photovoltaic electricity was 15.9/9.6 euro cents/kWh, while the residential electricity price was 30.5 euro cents/kWh, and the cost of light storage/photovoltaic electricity was 52%/31% of the residential electricity price, respectively. In the future, with the decrease in the cost of light storage, the difference between the residential electricity price and the light storage LCOE is expected to increase, which will promote the increase in demand for residential side consumption.
