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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The camping power bank market consists of portable power banks that are specifically designed for camping and outdoor activities. These power banks are robust, dustproof and water-resistant to withstand harsh outdoor conditions. They come in various capacities to charge smartphones, tablets, GPS devices and other small electronics used during camping.
Market key trends:
One of the key trends driving the growth of camping power bank market is the rising participation in various outdoor recreational activities such as hiking, camping, trekking etc. Camping activities especially have gained significant popularity over the years among both individuals and groups. According to the Outdoor Foundation’s National Park Service report, the number of people participating in camping trips increased by 7.1% from 2017 to 2020. As more people spend time outdoors, the demand for camping accessories including portable power banks has been increasing. Camping power banks offer convenient power source in remote areas away from standard power outlets. Their robust designs make them suitable for rugged outdoor conditions. Growing popularity of camping is expected to boost the demand for specialized camping power banks over the forecast period.
Porter’s Analysis
Threat of new entrants: The Camping Power Bank Market has moderate threat of new entrants due to significant capital required to establish manufacturing plants and distribution channels. Moreover, established brands dominate the market with strong brand loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of multiple brands offering substitutable products at competitive prices. However, some brands have built strong brand value and loyalty with quality products over years.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of alternative component suppliers. Also raw material prices have negligible impact on final product prices.
Threat of new substitutes: Low threat of substitutes exists as batteries and power banks currently have no close substitutes for portability and performance.
Competitive rivalry: High rivalry exists among key global players like Anker, Duracell, EcoFlow to gain market share through product innovations, branding and competitive pricing.
SWOT Analysis
Strength: Strong R&D capabilities and innovative product portfolio of top players. Growing consumer preference for eco-friendly and sustainable products.
Weakness: High dependency on China for raw material supply and component manufacturing increases supply chain risks. Fluctuating raw material prices may impact margins.
Opportunity: Rising disposable incomes and adventure tourism are driving the adoption of camping accessories including power banks globally. Growing focus on developing long-lasting and high-capacity batteries presents opportunities.
Threats: Stringent regulations regarding electronics waste disposal may increase compliance costs. Substantial investment required to develop sustainable products poses challenges for small players.
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 and adventure tourism. North America dominated the market in 2022 with highest per capita spending on outdoor recreation in countries like US and Canada fueling demand.
Regional analysis: North America will continue dominating the Camping Power Bank Market through 2030 with US accounting for majority share. Asia Pacific is poised to witness fastest growth during the forecast period with China, India emerging as lucrative markets supported by expanding middle class population, rising disposable incomes and thriving e-commerce sector.
Key players: Key players operating in the Camping Power Bank Market include Anker, Duracell, EcoFlow, Goal Zero, Jackery, MAXOAK, NEXPON, Omnicharge, ORYTO, OUTXE, Pisen, RavPower, Rockpals, Samsung, Suaoki, X-DRAGON, Zendure, RIVER, Crave, Intova. Top players are focusing on developing durable, sustainable and high-capacity power banks to strengthen their market position through continuous R&D and new product launches catering to changing consumer preferences.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
