How to Save List as a Template using PowerShell in SharePoint?

Requirement: Save SharePoint list as a template using PowerShell

How to Save List as template in SharePoint?
List templates in SharePoint provides great re-usability without having to recreate every single columns. Say for e.g. you may have created a custom list (say: Projects) in a SharePoint site collection with all relevant columns, Now you might want this list structure in other site collections, without recreating the list on every single site. To save a list or library as template:

Go to your SharePoint list >> Navigate to list settings by going to List tab on the ribbon and then List Settings.
Click on "Save list as Template" under Permissions and Management group.
Provide the name for template File and Template name
Choose the appropriate option for "include content" and Click OK.

You will see "Operation Successful" page and your template will be uploaded to "List Template Gallery".

Generally, it's a good idea to create list templates at top-level site, so that any site underneath can utilize the template!

PowerShell Script to save list as a template:
Here is how to save list as template in SharePoint 2013 using PowerShell.

#Add SharePoint Snapin
Add-PSSnapin Microsoft.SharePoint.PowerShell -ErrorAction SilentlyContinue 

#Configuration parameters
$WebURL="https://projects.crescent.com"
$ListName="Parent Projects"
$TemplateName="Parent Project Template"
$TemplateFileName="ParentProjectTemplate"
$TemplateDescription="Crescent Inc. Parent Project List Template"
$SaveData = $true

#Get the Web and List objects
$Web = Get-SPWeb $WebURL
$List = $Web.Lists[$ListName]

#Save List as Template
$List.SaveAsTemplate($TemplateFileName, $TemplateName, $TemplateDescription, $SaveData)
Write-Host "List Saved as Template!"