July 12, 2024
Camping Power Bank Market

Camping Power Bank Market Connected With Anker Driving Market Growth

The global Camping Power Bank Market is estimated to be valued at US$ 654.7 million in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
A camping power bank is a portable charger that allows users to charge their electronic devices such as campings, tablets and portable power devices when an external power source is unavailable. Camping power banks come equipped with lithium-ion or lithium polymer battery cells that offer high energy density and can charge devices multiple times on a single charge. They are lightweight, compact in size and come in different power capacities ranging from 5000mAh to 30000mAh depending on the number of devices to be charged. Camping power banks have revolutionized the camping experience by ensuring continuous power supply to devices in outdoor settings away from power grids.

Market key trends:
One of the key trends fueling growth in the global camping power bank market is the rising popularity of outdoor recreational activities such as camping, hiking, trekking and mountain climbing. According to the nonprofit outdoor recreation industry association Outdoor Industry Association, outdoor recreation participation has grown by 7.1% from 2014 to 2017, with camping being the most popular activity participated by over 77 million Americans in 2017. Rising interest in outdoor adventure sports has amplified the need for portable power sources away from power grids, driving sales of camping power banks. Furthermore, innovation and technological advancements by market players has led to the availability of waterproof, durable and high capacity camping power banks with fast charging capabilities meeting diverse consumer requirements.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is high in the camping power bank market as the capital requirement is moderate to setup a manufacturing unit. However, brands have an established name in the market making it difficult for new players.

Bargaining power of buyers: The bargaining power of buyers is high. As there are many established brands providing substitutable products, buyers can easily switch to other brands.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. While there are many component suppliers, brands have the capability to develop in-house manufacturing capabilities.

Threat of new substitutes: The threat of new substitutes is moderate. While alternative portable power sources exist, camping power banks offer unique features like high capacities and fast charging capabilities.

Competitive rivalry: The competitive rivalry in the camping power bank market is high due to the presence of many global and regional players.

Key Takeaways

The global Camping Power Bank Market Size is expected to witness high growth, exhibiting CAGR of 12.3% over the forecast period, due to increasing outdoor recreational activities and remote work culture. The market was valued at US$ 654.7 million in 2023.

The North America region is expected to dominate the global camping power bank market during the forecast period. This is attributed to factors such as higher consumer spending on outdoor recreational activities and presence of many outdoor equipment brands in the region.

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. Market leaders like Anker and Jackery offer a wide range of power banks with different capacities and features to attract different consumer segments.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it