The United States portable battery pack business value is estimated to total USD 3,271.1 million in 2023. Demand for portable battery packs recorded Y-o-Y growth of 5.5% in 2022, with overall revenue totaling USD 3,097.1 million.
Over the assessment period, sales of portable battery pack solutions in the United States are predicted to rise at a CAGR of 7.1% CAGR. By 2033, the United States portable battery pack revenue is expected to total USD 6,498.4 million.
Portable battery packs are gaining immense popularity in the United States. This is due to their ability to provide on-the-go charging solutions for a wide range of electronic appliances. These portable energy storage devices are equipped with rechargeable batteries, often lithium-ion or lithium-polymer, which store electrical energy for later use.
The capacity of the battery determines how much power the station can provide. They typically include various output ports, such as AC outlets (for standard household devices), DC outlets (for appliances like car fridges or air compressors), USB ports (for smartphones and tablets), and sometimes even wireless charging options.
Portable battery packs can be charged through multiple methods, including wall outlets, car chargers, and solar panels. Certain models are compatible with solar panels, enabling renewable energy charging.
Some models use pure sine wave inverters, which provide clean and stable power output. This is making them suitable for sensitive electronic devices like laptops. They are designed to be lightweight and easily transportable, making them suitable for outdoor adventures and on-the-go power needs.
Rising need for portable energy storage devices is expected to fuel sales in the United States. Similarly, increasing demand for on-the-go power solutions will likely expand the United States portable battery pack business size.
Industry Outlook
| Attributes | Key Insights |
|---|---|
| United States Portable Battery Pack Business Size in 2022 | USD 3,097.1 million |
| Estimated United States Portable Battery Pack Revenue (2023) | USD 3,271.1 million |
| Projected United States Portable Battery Pack Sales Value (2033) | USD 6,498.4 million |
| Value CAGR (2023 to 2033) | 7.1% |
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Demand for portable battery packs in the United States grew at a CAGR of 4.6% between 2018 and 2022. Total revenue reached about USD 3,097.1 million in 2022. Over the forecast period, the United States portable battery pack business is poised to exhibit a CAGR of 7.1%.
| Historical CAGR (2018 to 2022) | 4.6% |
|---|---|
| Forecast CAGR (2023 to 2033) | 7.1% |
The proliferation of smartphones, smartwatches, and other portable electronic devices created a high demand for portable battery packs during the historical period. Consumers sought convenient solutions to keep their devices charged while on the go. This increased the demand for portable battery packs.
In the forecast period, the United States portable battery pack business is expected to grow rapidly. This is attributable to growing demand for electronic appliances in the United States, rise of renewable energy sector, and advancements in battery materials and inverter technologies.
With a rising emphasis on renewable energy sources, portable battery packs will play a pivotal role in energy storage and backup solutions. As solar and wind power become more widespread, demand for battery packs for residential and commercial energy storage is expected to increase.
Growing usage of compact battery technology and rising demand for novel mobile charging solutions are anticipated to boost growth of the United States portable battery pack business. Subsequently, development of novel portable energy storage units will bode well for the target business.
Top manufacturers of portable battery packs are constantly launching new products in the United States to boost their sales. For instance, Goal Zero, a prominent player in portable energy, introduced the Yeti PRO 4000 power station and Tank PRO expansion batteries for RVs, homes, and other applications in October 2023.
Semi Annual Update
| Particular | Value CAGR |
|---|---|
| H1 | 7.1% (2022 to 2032) |
| H2 | 7.3% (2022 to 2032) |
| H1 | 7.5% (2023 to 2033) |
| H2 | 7.9% (2023 to 2033) |
The below section shows the predicted CAGR of key segments. The residential segment is expected to lead the target business through 2033, exhibiting a CAGR of 6.9%. By sales channel, the channel sales segment is projected to grow at 6.8% CAGR during the assessment period.
Growth Outlook by End Use
| End Use | Value CAGR |
|---|---|
| Residential | 6.9% |
| Commercial | 8.2% |
| Industrial | 5.6% |
As per the latest analysis, residential segment is expected to remain the leading end user of portable battery packs across the United States. This is due to rising adoption of a wide range of electronic appliances, including portable battery-powered products, in the residential sector that require power backup solutions.
The residential segment is set to account for a value share of 40.7% by 2033. Over the forecast period, the target segment is predicted to thrive at a robust CAGR of 6.9%, totaling USD 2,645.1 million by 2033.
Portable battery packs serve as a convenient power backup solution for essential home electronics during power outages. This includes charging mobile phones, tablets, laptops, and other critical devices that homeowners rely on for communication, work, and entertainment.
The growing reliance on electronic devices for work, education, entertainment, and communication within residential settings is expected to drive demand for portable battery packs across the United States. Similarly, growing popularity of home automation and rise in work-from-home culture will boost sales of portable battery packs.
As more people work and study from home, the need for reliable backup power solutions like portable battery packs is set to increase dramatically. This will create lucrative opportunities for portable battery pack manufacturers.
Key companies in the United States are expected to introduce novel portable battery packs with attractive offers, including discounts and extended warranties. This will help them to meet growing demand for the residential sector.
Growth Outlook by Sales Channel
| Sales Channel | Value CAGR |
|---|---|
| Direct Sales | 6.1% |
| Channel Sales | 7.9% |
Based on sales channel, the channel sales segment, consisting of offline and online sales, is expected to lead the United States portable battery pack business. This is due to growing preference of portable battery pack companies towards channel sales due to its advantages like affordable distribution and expanded reach.
The channel sales segment is forecast to thrive at 7.9% CAGR throughout the assessment period. It will likely generate revenue of about USD 3,779.1 million by 2033, holding a business share of 58.2%.
The channel sales category is gaining wider traction in the United States portable battery pack business. This is due to several benefits channel sales offer to portable battery pack manufacturing companies.
In channel sales, companies sell their products to customers through intermediates like distributors and retailers. These intermediaries help companies reach a wider audience and sell more products in less time.
Another key factor expected to boost the channel sales segment is the growing customer preference for purchasing portable battery packs through online shopping platforms. Amid busy schedules, customers across the United States are inclined to purchase electronic accessories through online modes.
Key portable battery pack manufacturers are expected to move their products to online platforms or form partnerships or alliances with online businesses to walk with changing trends and boost their sales. This will bode well for the target business.
Key manufacturers of portable battery packs across the United States are focusing on launching innovative products to meet evolving end user demand. They are also implementing strategies like partnerships, mergers, acquisition, and collaborations to strengthen their presence across the United States and other regions.
Recent Developments in the United States Portable Battery Pack Business:
| Attribute | Details |
|---|---|
| Estimated Value (2023) | USD 3,271.1 million |
| Projected Size (2033) | USD 6,498.4 million |
| Anticipated Growth Rate (2023 to 2033) | 7.1% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Country | United States |
| Quantitative Metric Tonnes | Revenue in USD Million and CAGR from 2023 to 2033 |
| Segments Covered | Power Output, End Use, Sales Channel |
| Key Companies Profiled | GenPower; Generac; Hysolis; Jackery; Goal Zero; Togo Power |
The United States business is set to total USD 3,271.1 million in 2023.
Demand in the United States is set to rise at a CAGR of 7.1%.
The target business is predicted to reach USD 6,498.4 million by 2033.
The 3500 to 4000 watts segment is estimated to thrive at 7.1% through 2033.
Growing at 8.2% CAGR, commercial segment is expected to witness robust growth.
GenPower, Generac, Hysolis, and Jackery RYOBI.
1. Executive Summary 2. Business Overview 3. Key Trends 4. Pricing Analysis 5. Demand (in Value in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Shipments (‘000 Units) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Business Background 8. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by Power Output 8.1. 3000 Watts- 3500 Watts 8.2. 4000 Watts- 4500 Watts 8.3. 4500 Watts- 5000 Watts 8.4. More than 5000 Watts 9. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by End Use 9.1. Residential 9.2. Commercial 9.3. Industrial 10. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by Sales Channel 10.1. Direct Sales 10.2. Channel Sales 10.2.1. Offline Sales 10.2.2. Online Sales 11. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 11.1. North East 11.2. South East 11.3. Mid-West 11.4. South West 11.5. West 12. Northeast Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Southeast Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Midwest Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 15. South West Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 16. West Industry Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Business Structure Analysis 18. Competition Analysis 18.1. GenPower 18.2. Generac 18.3. Hysolis 18.4. Jackery 18.5. EcoFlow 18.6. Champion Power Equipment 18.7. Perun 18.8. Goal Zero 18.9. YOSHINO 18.10. RYOBI 18.11. Zendure 18.12. Togo Power 19. Assumptions and Acronyms Used 20. Research Methodology
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Portable Battery Pack Industry Analysis in the United States
