In the post-pandemic era, outdoor gatherings have resumed, driving the RV economy and the high-end camping market. Portable outdoor power banks that can supply power to various electrical appliances such as mobile phones, computers, and rice cookers are increasingly popular among consumers. Facing this continuously high-growth blue ocean market, Chinese enterprises are exporting portable power banks to the global market and are receiving great acclaim.
Alibaba's "Outdoor Consumer Electronics Trend Report" released in May 2022 shows that the compound annual growth rate of portable power banks from 2016 to 2021 reached 148%, and global and Chinese shipments are expected to reach 31.1 million and 28.67 million units, respectively, by 2026. China is the main producer of portable energy storage, accounting for 90% of global shipments. Portable storage energy products have the advantages of safety, portability, green and environmentally friendly, noiseless, and easy operation. They are used in outdoor travel, emergency preparedness, and other scenarios and can replace traditional small fuel generators. According to the "Outdoor Consumer Electronics Trend Report," the United States is the largest market for portable power banks globally, mainly due to the high proportion of American outdoor travel, close to 50%. In 2020, its application accounted for 47.3% of the global market share, followed by Japan, with an application share of 29.6% in the global emergency field, mainly due to frequent disasters such as earthquakes in Japan. The demand for emergency power equipment is high. In Europe and Canada, the main demand still focuses on outdoor activities and emergencies.
With a complete industrial chain and leading technology, China will continue to maintain competitiveness in the field of portable energy storage.
According to the relevant person in charge of Alibaba, "Made in China" portable power banks have two competitive advantages. First, China has many years of research and development and production experience and has formed its own technology and supply chain barriers. Second, China is the world's largest lithium-ion battery manufacturer and exporter, with very good cost-effectiveness advantages. The core of portable energy storage is the battery, and companies such as CATL, Contemporary Amperex Technology, BYD, Lishen, and Ganfeng Lithium are all battery manufacturers that can provide safe, reliable, and cost-effective batteries to merchants. China, as the country with the most complete new energy industry chain and the most advanced technology in the world, will continue to maintain competitiveness in the field of portable energy storage. A report on the portable energy storage industry released by CITIC Securities also confirms this. The report shows that the global portable energy storage industry chain, such as batteries and inverters in the upstream and integration in the midstream, are all concentrated in China, and downstream brand operators are mostly Chinese brands, with cross-border e-commerce as the main channel.
From OEM to Brand: Chinese companies continue to expand their presence in overseas markets.
With such industrial advantages, more and more Chinese brands are going abroad and constantly making breakthroughs in overseas markets. According to Alibaba, the reason why Chinese brands are able to thrive in overseas markets is twofold: first, they are adept at marketing. Anker, Jackery, and GreenPower all have strong internet marketing capabilities and are very skilled at using overseas social media platforms and new forms of communication such as live streaming and influencer marketing to expand their brand influence, making them very popular among young buyers overseas. As a result, these three brands have high penetration and recognition rates in the US, Japan, and some European countries.
Second, they have excellent product quality. Jackery and GreenPower both have technical backgrounds and their product quality and design are leading globally. If marketing opens up the market, then it is the quality of the product that truly penetrates and solidifies the market, enabling word of mouth to truly take root. In addition, Chinese merchants have good service awareness, actively interacting with overseas buyers, researching the demands of different overseas markets, and rapidly iterating and developing new products. For example, for the US market, they focus on entertainment and leisure, integrating features such as Bluetooth speakers and coffee heating pads into portable energy storage devices. For the Japanese market, they focus on natural disaster relief, integrating features such as alarms, first aid kits, lighting, and GPS positioning into their products.
Portable energy storage is just one part of the explosive growth in the new energy industry this year. With the achievement of the dual carbon target becoming a global consensus and the surge in oil and gas prices due to energy shortages and the Russia-Ukraine conflict, the new energy industry has been booming for almost three years. In 2022, China's export sales of energy storage products grew by more than 130% year-on-year. If Chinese merchants want to gain more market share overseas, they must demonstrate core technologies and a brand-oriented approach, enabling Chinese high-quality manufacturing to be recognized by consumers worldwide.
Post time: Apr-21-2023
