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Understand Portable Energy Storage and Its Market

What is portable energy storage?

Portable energy storage is a large power bank used in outdoor travel, emergency preparedness and other scenarios, with a charged capacity ranging from 0.2 to 2kWh, output power from 100 to 2200W, and various data interfaces. It supports charging for a variety of products, such as mobile phones, laptops, drones, refrigerators and more, in mobile power usage scenarios. With matched photovoltaic panels, it can achieve charging for the energy storage device.

Main applications of portable energy storage include: 

  • Outdoor activities; the United States is the main market, while China has enormous development potential. 

  • Emergency preparedness; Japan is the main market. The diverse mobile power usage scenarios, increasing consumer participation in outdoor activities, enhanced disaster preparedness awareness, all have opened up the market for portable energy storage.

  • Additionally, with the increase in the electrification rate of residential living, as well as the increasing quantity of electrical appliances like mobile phones, drones, small household appliances and others, the demand for power in mobile scenarios has increased. 

  • With outstanding advantages such as longer service life, low failure rate, lighter weight, smaller volume, higher energy density

  • Lithium-ion energy storage has become the best choice for consumers replacing diesel generators and lead-acid batteries.

Portable energy storage is divided into categories according to their charged capacity:

  • Charged capacity of 0.5 to 1kWh: high popularity, product structure and system are relatively simple, and it is developing towards being more compact, lightweight and fashionable.

  • Charged capacity of 1.5kWh or more: filling the gap in the market between diesel generators and power banks. With the increase in capacity, the system integration difficulty increases. Products with a charged capacity exceeding 2kWh have higher technical thresholds in terms of PCS, battery cells, power supply modules and other areas, and have higher safety requirements.

With the increase in electrical appliances, the charged capacity of portable energy storage required for outdoor activities and emergency power needs is gradually increasing.

Why is the market for portable energy storage exploding?

Many people have attributed this to the pandemic era, where outdoor activities and electricity usage demand have grown, but we believe the core reason is that portable energy storage devices have consumer goods attributes, which means that it takes time for a new and emerging product to be educated in the market. Under the circumstances of the pandemic, consumers discovered the value of portable energy storage during outdoor activities. The pandemic helped manufacturers complete the process of educating consumers, thus quickly gaining market favor.

What is the size of the market for portable energy storage? The market space for portable energy storage is rapidly expanding, and it is expected that by 2025, the market will have added 24.7 million units, with an average compound annual growth rate of 50% from 2021 to 2025. The market space will reach 56.3 billion yuan, with an average compound annual growth rate of approximately 50% per year.

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