In fact, the “camping fever” has been around for several years. Data from IMedia Consulting show that in 2021, the core market size of China’s camping economy reached 74.75 billion yuan (RMB, the same below), with a year-on-year growth of 62.5%; the related market size reached 381.23 billion yuan, with a year-on-year growth of 59%. It is expected that in 2025, the core market scale of China’s camping economy will rise to 248.32 billion yuan,and the related market scale will reach 1,440.28 billion yuan.

 

Among them, the “camping heat” with the fire is the ”outdoor power supply” (known as “portable energy storage power supply”) this single product.

Outdoor power supply is a small portable charging station with a built-in lithium-ion battery and can store its own electricity. It is equivalent to a large charging bank. At present, the output power of the outdoor power supply on the market can reach 3000W, which can easily drive any camping electrical appliances and meet the electricity demand of camping enthusiasts for several days.

Based on this, in 2021, Tmall announced the list of the top ten trend items of “Double 11″ in the year. In 2022, “Tmall May Day Consumption Trend Report” data showed that in 2022, the sales of outdoor power supply on the platform increased more than twice compared with the same period last year, and the growth rate in the past 3 years was more than 300%.

In 2023, the growth of outdoor power supply continues.”Magic Mirror Analysis +” data shows that from July 2022 to June 2023, the total sales of outdoor power in the mainstream e-commerce platforms reached 1.434 billion yuan, with a year-on-year growth rate of 142.94%.

It is worth noting that the outdoor power supply by the “camping” hot dividend, in recent years in the rapid development of the domestic market, in the overseas market, outdoor power supply has been “gallop” for many years.

 The Research Report on the Development of China’s Portable Energy Storage Industry released by China Chemical and Physical Power Supply Industry Association in 2021 indicates that China’s portable energy storage industry is an industry with obvious export-oriented characteristics. The whole industry has more than 90% of the output and export, and it is the world’s major manufacturer and exporter of portable energy storage.

In other words, compared to the early domestic market, overseas camping market is the main outdoor power market.

01 Popular “large charge bank”

Jackery The survey data shows that in North America, Europe and Japan and other relatively mature camping culture countries and regions, camping enthusiasts are more inclined to experience for a longer time. For example, Japanese camping enthusiasts are keen on two days and one night of camping trips, and they will inevitably use mobile phones, laptops and other electronic devices during their camping trips.

The emergence of lithium outdoor power supply has made their camp easier.

With the wind of camping culture blowing back home again, young people immediately love the outdoor lifestyle.

Living in Beijing celebration, I and my friends plan to go to the surrounding camping after the Mid-Autumn Festival, ” the Mid-Autumn Festival is the first day of the holiday, my friends and I plan to go home to accompany my family in the first three days of the holiday, and then the wrong peak to return to Beijing, back to Beijing, several of our friends about to go camping to relax.”

And to greatly enhance the camping experience, the equipment is naturally indispensable.”Sky, tents, meal MATS, tables and chairs, these are all necessary, incubators, stoves, picnic equipment are also necessary for outdoor dining.”Qingqing carefully calculated, the conclusion is that the camping equipment must be more than enough to fill a trunk.

During, qing qing, fortunately my home is new energy vehicles, have the discharge function can meet the demand of electronic products charging and use, or they will consider in camping equipment with an outdoor power supply, ” last year, I put several famous brands of outdoor power and purchase, but the price of thousands of yuan or let I have not been able to succeed.”

Although Qingqing did not buy an outdoor power supply due to the low frequency of use, expensive price and other reasons, but with the rise of “camping fever”, the sales of outdoor power supply has also increased, in recent years, many consumers buy outdoor power supply.

Peng Peng, who also plans to camp outdoors with his family during the National Day holiday, said, ” We have never tried camping before, and we are visit friends’ field. This time, we plan to travel by ourselves, and we want to buy all the equipment that we used when camping.”In Pengpeng’s opinion,” large charge bank “is a necessary camping,” in the outdoor with a mobile power supply will be a lot more convenient.”

In fact, in the eyes of most consumers, outdoor power supply is not a high-tech plaything, it is a built-in high energy density lithium ion battery, can provide a stable AC / DC voltage output power system, equipped with a variety of interfaces, widely used in outdoor travel, emergency preparedness and other scenarios.

Compared with the “charging bank”, outdoor power supply not only supports DC output, but also can turn the power into 220V AC, can supply more numbers and types of equipment at the same time, and even can use solar charging panels to store electricity in case of emergency.

The industry threshold is not high, which determines that the production enterprises only need to purchase the upstream outdoor power components, such as cells, solar panels, inverter, electronic components, structural components, etc., and then carry out the corresponding production and processing.

Or because of this, the entrants have also emerged. The query results of “enterprise check” show that by 2022, the number of domestic enterprises including “portable energy storage power supply” was 399, an increase of 46 compared with 353 at the end of 2021.

The data of “Magic Mirror Analysis +” shows that the mainstream e-commerce platform outdoor power brands rank the top brands are EcoFlow, Dianxiao 2, Star Zhao Blue, New Chi Shi, Bull and so on.There are not only EcoFlow, electric small two and other deep ploughing portable energy storage manufacturers, but also traditional manufacturers such as Bull cross into the game.

At the same time, there is a kind of brands are located in Guangdong or Shandong outdoor power manufacturers, such as XinChi Shi, Sheng Xinlong, Weifan, Ran yong, etc., although this kind of brands are not EcoFlow, electricity small two reputation, but its single product sales are very high.

02 Overseas is bigger than the domestic market

There is no doubt that outdoor power is becoming a new blue ocean, and outdoor power manufacturers have occupied the “world stage”.

According to the Outdoor Consumer Electronics Trends Report, the global portable power supply grew at a compound annual growth rate of 148% from 2016 to 2021, and global and Chinese shipments are expected to reach 31.1 million units and 28.67 million units respectively by 2026.

Xu Jiqiang, chief supervisor of Zhongguancun Energy Storage Industry Technology Alliance, said that China’s outdoor mobile power shipments currently account for more than 90% of the world. It is estimated that in the next few years, the global annual shipments can reach more than 30 million units, and the market size is about 80 billion yuan.

 In other words, nine of the world’s 10 outdoor power supplies are made in China.

Compared with the domestic camping, which has only risen in recent years, outdoor power supply in the overseas market is obviously used in a broader range, and the corresponding market is broader than the domestic market.

For portable energy storage products with a capacity of approximately 100-3,000 W, outdoor activities and emergency preparedness are the main application scenarios. In outdoor activities, it can supply power to smart phones, tablets, drones, projectors and other equipment. In emergency preparedness, it can solve power shortage caused by disasters in areas with frequent natural disasters such as earthquake, tsunami and blizzard.

Also based on such application scenarios, in the view of the industry, outdoor power supply “natural” to match the overseas market.

According to the data of China Chemical and Physical Power Supply Industry Association, according to the sales data of outdoor power in 2020, the United States is the world’s largest application market for portable energy storage, mainly due to the high proportion of outdoor travel of American users, close to 50%, and in 2020, the application proportion in the world will reach 47.3%.

The second is Japan, which accounts for 29.6% of the applications in the global emergency response field, mainly due to the frequent occurrence of earthquake and other disasters in Japan, and the high demand for emergency power equipment.

In Europe, Canada and other places, the main demand is still outdoor activities and emergency, but due to the European choice of bicycles and other portable travel methods, the demand for portable energy storage is less.

In short, compared with the domestic subdivision of the track, going to sea may be the ideal road for outdoor power brands.

From the perspective of the industrial chain, many links are crowded with domestic enterprises. According to the Special Report on Portable Energy Storage Industry released by CITIC Securities, at present, the global portable energy storage industry chain, such as upstream batteries and inverters, and midstream integration are concentrated in China. Most of the downstream brand operators are Chinese brands, and the downstream channels are mainly cross-border e-commerce.

And so it is. According to the official data of EcoFlow, in Amazon’s Prime Day in July 2022, the sales of Zhenghao EcoFlow reached 159 million yuan in two days, among which the sales in North America increased 450% year on year and Japan increased 400% year on year.

 

Warburg New Energy, the leader in the portable energy storage industry, has adopted the strategy of developing both domestic and foreign markets simultaneously. It has built the domestic independent brand “Electric Er” and the international brand “Jackery”, and completed the all-round layout of “domestic + overseas” and “online + offline”.

From the perspective of the market pattern, the global portable energy storage industry is highly concentrated, with CR5 revenue accounting for 50%. However, for the domestic market, the portable energy storage industry is still in the stage of multi-brand “disputes”. With the further development of economy and the further decline of product costs, the market penetration rate of portable energy storage products will continue to increase, and the market space is broad.

I believe that in the near future, with the rise of outdoor power supply, we can continue to eat the development dividend in China.