by 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Camping power banks are portable power storage devices that are used to charge electronic devices such as smartphones, laptops, cameras, GPS devices and other gadgets during outdoor activities like camping, hiking, and mountaineering. The growing popularity of outdoor recreational activities amongst millennials is creating significant demand for camping power banks. Camping power banks come equipped with portable solar panels, USB ports, LED flashlights and are available in varying power capacities to charge multiple devices on a single charge.
Market Dynamics:
The growing popularity of outdoor recreational activities such as camping, hiking, trekking and mountaineering is driving the growth of the camping power bank market. According to the Outdoor Industry Association, outdoor recreation participation rates have grown by over 10% in recent years, with millennials recording much higher rates of participation. Furthermore, technological advancements in portable power storage solutions along with the introduction of solar charging capabilities and multi-device compatibility is also fueling the demand for camping power banks. However, availability of substitutes such as gasoline powered portable generators and low customer awareness in some parts of the world remains a market growth challenge.
The camping power bank market growth is expected to be further driven by the two key drivers – growing popularity of eco-friendly and solar charging power banks as well as the introduction of advanced functions in camping power banks. Eco-friendly and solar charging power banks are gaining significant traction owing to rising environmental consciousness. These power banks allow users to charge devices using natural energy from the sun and without further emissions. On the other hand, manufacturers are focusing on introducing advanced functions such as wireless charging, power capacity indicators and multiple USB ports to charge multiple devices simultaneously. This is expanding the use cases and appeal of camping power banks.
SWOT Analysis
Strength: Camping power banks have large battery capacities ranging from 10,000mAh to 30,000mAh which allows users to charge multiple devices on single charge. They are compact, lightweight and portable making them ideal for outdoor activities.Their universal compatibility allows them to charge variety of devices including smartphones, laptops, tablets, etc.
Weakness: High capacity camping power banks cost more compared to regular power banks. They have low charging speeds compared to wall charging. Certain power banks have fewer ports available for simultaneous charging of multiple devices.Poor quality lower capacity power banks have lower battery life and tend to lose charge capacity quickly with usage.
Opportunity: Growing popularity of outdoor recreational activities like camping, trekking and hiking is driving the demand for portable power sources. Rising sales of smartphones and other battery-powered devices is making power backups essential even during outdoor adventures.Increasing social media usage during outdoor activities is boosting the usefulness of portable charging solutions like camping power banks.
Threats: Availability of lower-priced generic brands offering comparable features can eat into sales and margins of established players. Strict environmental regulations around disposal of lithium-ion batteries pose operational challenges.
Key Takeaways
Global Camping Power Bank Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing popularity of outdoor recreational activities.
Market size for 2023 is estimated to be US$ 654.7 Mn. North America currently dominates the market holding around 35% share due to high outdoor activity participation in countries like United States. However, Asia Pacific region is witness fastest growth led by countries like China and India where annual trips to nature have increased dramatically in recent years.
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, Intova. Companies are expanding their product lines with latest technologies and features to attract avid outdoor adventurers and travelers. For example Anker launched solid state eufy power banks with ultra fast charging and long battery life.
Regional analysis: North America currently has around 35% market share led by United States where outdoor recreation contributes more than $887 billion to the economy annually. However Asia Pacific region is witnessing fastest growth with annual trips to nature increasing significantly in China and India in past few years.Countries like Japan, South Korea and Australia are also driving the regional market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
