In recent years, with the continuous growth in demand for clean renewable energy, global attention to environmental protection and sustainable development has intensified. Mobile energy storage power sources, as a new type of clean energy solution, are widely used in outdoor activities, emergency preparedness, household electricity, and other scenarios, providing great convenience for people's lives and work. Therefore, as a key device for efficient utilization of new energy, the market demand for mobile energy storage power sources has rapidly expanded, and the global mobile energy storage power industry has shown a rapid growth trend. In the future, the global mobile energy storage power industry will continue to focus on intelligent upgrading. At the same time, under the trend of continuous cost optimization, products will develop towards larger capacity, and the application of emerging battery cell technologies will also drive industry technological upgrading.
Recently, Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan') released the 'Global Mobile Energy Storage Power Supply Industry Research Report 2024' (hereinafter referred to as the 'Report'). The report aims to conduct a comprehensive and in-depth analysis of the global mobile energy storage power supply industry, exploring the driving factors behind the development of the industry from multiple aspects such as policies and regulations, industrial development, market demand, product characteristics, and technological innovation. It seeks to uncover the huge potential of industry development and track future trends. In 2024, according to sales and shipments, Zhenghao Innovation ranked first in the global mobile energy storage power supply industry in terms of market share.
PART.01
Global Mobile Energy Storage Power Supply Market Overview
Mobile energy storage power supply is a small energy storage device equipped with a built-in lithium-ion battery. It features large capacity, high power, and is safe and portable. The battery capacity ranges from 100Wh to 3,000Wh, making it suitable for various scenarios such as outdoor travel, household backup power, vehicle backup power, self-driving electricity use, emergency disaster relief, medical emergency response, outdoor operations, and more.
Global Mobile Energy Storage Market Size Analysis
In recent years, with the continuous growth in demand for clean renewable energy, global attention to environmental protection and sustainable development has intensified. Mobile energy storage power sources, as a new type of clean energy solution, are widely used in outdoor activities, emergency preparedness, household electricity, and other scenarios, providing great convenience for people's lives and work. Therefore, as a key device for efficient utilization of new energy, the market demand for mobile energy storage power sources has rapidly expanded, and the global mobile energy storage power industry is showing a rapid growth trend. In 2024, the global mobile energy storage power industry sales reached $32 billion, with an annual compound growth rate of about 46.2% over the past five years. It is estimated that by 2029, the global mobile energy storage power industry sales will reach $83 billion, with an annual compound growth rate of 21.0% between 2024 and 2029.
Source: China Chemical and Physical Power Sources Industry Association, Frost & Sullivan analysis
Analysis of the Driving Forces for the Global Mobile Energy Storage Power Supply Market
● Battery costs decline
Driven by both commercial large-scale application and technological progress, the cost of lithium batteries has continued to decline, making mobile energy storage power sources more acceptable to downstream users in this context. In the past 10 years, the average global price of lithium batteries has dropped from $393/kWh in 2015 to $115/kWh in 2024, a reduction of 70.7% in unit price. The significant decline in lithium battery prices is mainly due to improvements in battery integration system technology and the development of production processes towards automation, which have laid a solid foundation for their large-scale commercial application. This has further driven the global shipment volume of lithium batteries from 101 GWh in 2015 to a substantial increase of 1,545 GWh in 2024, with an annual compound growth rate of 35.4%. In addition, the reduction in lithium battery costs and the improvement in battery capacity and output power have fully expanded the application scenarios of mobile energy storage power sources, thereby stimulating consumer demand for this type of product.
Source: International Energy Agency, Frost & Sullivan analysis
● Increased power consumption for global outdoor activities and demand for household standby power
In recent years, global consumers' habits regarding leisure and entertainment activities have changed. Activities such as indoor entertainment and group travel have significantly decreased in frequency, while outdoor camping and RV travel have become increasingly popular. At the same time, mobile energy storage power sources are favored by outdoor travelers due to their advantages such as noiselessness, low pollution, and portability. The popularity of outdoor activities at home and abroad has increased, leading to a surge in the number of outdoor travelers and driving demand for the mobile energy storage power source industry. In the past 30 years, extreme natural disasters have entered a high-incidence period, causing serious disruptions to the safety of power systems. Coupled with factors such as the surge in power demand brought about by the electrification era, major power outages have entered a period of frequent occurrence, with 13 global power outages occurring in 2024. Therefore, the demand for household backup power continues to grow. Mobile energy storage power sources, with their advantages of high energy density, fast charging and discharging, and long cycle life, have gradually become the mainstream choice for household backup power, and their market demand continues to expand.
*Note: A major power outage must meet the following criteria: (1) It is not a power outage planned by the power supplier; (2) The accident affects at least 1,000 people; (3) The accident lasts for at least 1 hour; and (4) The total man-hour outage reaches at least 1,000,000 person-hours.
Source: Outdoor Industry Association of the United States, analysis by Frost & Sullivan
Global Market Overview of Mobile Energy Storage Power Supply Competition
As the demand for global mobile energy storage power supply industries continues to grow, more and more companies are entering this field, striving to secure a place in the rapidly developing mobile energy storage power supply industry, and competition among companies is gradually intensifying. By the end of 2024, there were over 50 industry participants in the global mobile energy storage power supply industry. In terms of 2024 sales, the market concentration of the top five companies in the global mobile energy storage power supply industry was 74.8%; in terms of 2024 shipments, the market concentration of the top five companies was 57.2%.
Data source: Corporate annual reports, Frost & Sullivan analysis
Analysis of the Development Trend of the Global Mobile Energy Storage Power Supply Market
● Intelligent upgrade
The trend towards intelligent development in the mobile energy storage power supply industry is becoming a key direction for industrial upgrading. With continuous technological progress, mobile energy storage power supply systems are gradually integrating with cutting-edge technologies such as the Internet of Things (IoT), big data, and artificial intelligence (AI), gradually transforming from traditional single-function devices to intelligent management. Intelligent mobile energy storage power supply equipment can accurately monitor battery status through real-time data monitoring and analysis, thereby optimizing charging and discharging strategies, enhancing system safety, and extending service life. In addition, intelligent systems can automatically adjust output power according to user habits and environmental conditions, achieving efficient energy utilization. This intelligent development not only improves user experience but also provides broader application scenarios for mobile energy storage power supply equipment. In the future, with the deep integration of artificial intelligence algorithms and the application of machine learning technology, the intelligent level of mobile energy storage power supply equipment will continue to improve, driving the entire industry towards higher efficiency, greater safety, and more convenience.
● Large-cap trend
In the future, mobile energy storage power sources will gradually develop towards larger capacities. Technologically speaking, continuous progress in battery technology, especially the development and application of high-energy-density batteries, enables mobile energy storage power sources to achieve greater capacity within smaller volumes and weights. At the same time, with the popularization of outdoor activities and the improvement in consumption levels, the demand for capacity and functionality of mobile energy storage power sources continues to grow. Products with larger capacities can meet the usage needs in complex scenarios, thereby driving sustained growth in market demand.
● Battery cell technology progress
Technological innovation will become the core factor driving the future development of the mobile energy storage power supply industry. In recent years, the development of solid-state battery technology has been particularly prominent. By using solid-state electrolytes instead of traditional liquid electrolytes, solid-state batteries have achieved significant improvements in energy density, safety, and lifespan. In addition, fast charging technology is expected to be further optimized to achieve faster charging speeds. In the future, with continuous progress in materials science and optimization of battery design and manufacturing processes, the energy density of mobile energy storage power supplies is expected to be significantly increased, laying a solid foundation for diverse product applications and market expansion.
