The Camping Power Bank Market is estimated to be
valued at US$ 654.7 Mn in 2023 and is expected to exhibit a CAGR of 12% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Camping power banks are portable power storage devices that allow campers and
outdoor enthusiasts to charge small electronic devices like smartphones,
cameras, and laptops at remote outdoor locations away from access to
electricity. They come with lithium-ion battery cells built into a portable
unit that can provide power via USB or other ports. Their lightweight and
compact design makes them ideal for hiking, backpacking, and other camping
activities. They ensure uninterrupted use of devices even in areas without
electricity.
Market Dynamics:
The increasing popularity of outdoor recreational activities such as camping,
hiking, and trekking among millennials and Generation Z is a major driver for
the camping power bank market. According to the Outdoor Industry Association,
outdoor recreation contributed $887 billion to the U.S. economy in 2021.
Younger consumers spend more time exploring outdoor destinations and rely on
small electronics to share their experiences on social media. This drives the
demand for portable power solutions. Additionally, advancements in lithium-ion
battery technology have enabled manufacturers to improve power storage capacity
while reducing device size and weight. This has made power banks more
convenient and durable for various outdoor applications.
Segment
Analysis
The camping power bank market is segmented into lithium-ion battery and
lithium-polymer battery. The lithium-ion battery segment accounts for the
largest share of around 60% of the overall camping power bank market. This
segment dominates the market as lithium-ion batteries hold more charge than
lithium-polymer batteries and are considered more durable and efficient.
PEST Analysis
Political: There are no significant political risks affecting the growth of the
camping power bank market.
Economic: The increasing disposable incomes and growing adventure activities
like camping are fueling the demand for camping power banks globally.
Social: Rising popularity of outdoor recreational activities among millennials
is driving the adoption of camping power banks.
Technological: Advancements in battery technology leading to higher battery
capacities and faster charging abilities in power banks are supporting the
market growth.
Key Takeaways
Global
Camping Power Bank Market Size is expected to witness high growth,
exhibiting a CAGR of 12% over the
forecast period, due to increasing outdoor recreational activities. The market
size for 2023 is estimated to be US$ 654.7 Mn.
Regional analysis: North America accounts for the largest share of around 35%
of the global camping power bank market. This can be attributed to the high
popularity of camping and adventure sports in countries like the US and Canada.
Asia Pacific is expected to witness the fastest growth during the forecast
period owing to rising outdoor recreational activities in countries such as
China, India, and Japan.
Key players operating in the camping power bank market are Anker, Duracell,
EcoFlow, Goal Zero, Jackery, MAXOAK, NEXPON, Omnicharge, ORYTO, OUTXE, Pisen,
RavPower, Rockpals, Samsung, Suaoki, X-DRAGON, Zendure, RIVER, Crave, and
Intova. Key players are focusing on expanding their product portfolio and
entering new markets through strategic collaborations to gain a competitive
advantage in the industry.
Comments
Post a Comment