The market is expected to generate an incremental $ opportunity of US$ 886.1 Mn between 2022 and 2032
Category: Clean Energy & Power Published Date : October 2022 ID: CVC-00334 Format: PDF Pages: 310
Portable Solar Charger Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Portable Solar Charger Market was worth US$ 315.8 Mn and is expected to grow at a CAGR of 14.3% over the forecast period. The market is expected to hit US$ 1,201.9 Mn by 2032 end. From 2017–2021, when the market’s CAGR was 11.8%, the market underwent significant growth.
The implementation of renewable energy sources is increasing to reduce the demand for non-renewable energy resources. Innovative technological developments in renewable energy resources, such as solar, drive this growth.
INTRODUCING NEW PRODUCTS WILL HELP THE MARKET GROW
The demand for a foldable portable solar charger will likely rise faster over the forecast period. These chargers are easy to transport and small in weight, so they acquire much preference among military and civilian users. Furthermore, the US and Indian governments are likely to enhance their usage of off-grid solar power to give electricity to outside troops. Furthermore, as the use of electronic equipment in the defense industry grows, demand for foldable solar chargers is projected to rise.
THE MARKET IS AFFECTED BY WEATHER CONDITIONS
Most solar portable chargers operate using either manual or automatic charging methods. The manual type is known as direct sunlight charging and is the simplest and most popular method. This involves simply placing the solar charger in direct sunlight and turning them on to charge your device. For most applications, this is sufficient. However, there can be problems if the weather outside is cloudy or overcast; many devices will not charge unless they receive direct sunlight. The automated charging method involves harnessing the sun’s power directly while capturing some energy in a battery pack so it can be used later when fuel is scarce.
ADVENTURERS ARE BOOSTING THE PURCHASE OF PORTABLE SOLAR CHARGER
The global portable solar charger market is anticipated to create opportunities due to these factors. Consumer expenditure on high-priced battery packs has switched to low-cost solutions such as portable solar chargers. Commercialization is on the rise in segments such as law enforcement and industrial use, and demand from these areas is likely to impact revenue growth over the next five years positively. The solar charger industry is also witnessing an increase in demand for power-intensive devices such as tablets and smartphones, for which solar chargers are a cost-effective alternative.
Market Segments Covered in Report
By Panel Type
By Region and Country:
Why are foldable Portable Solar Chargers projected to have the highest CAGR?
The foldable portable solar charger is projected to expand at the fastest CAGR of 22.0% over the forecast period. These chargers are easy to carry and lightweight, increasing immense popularity among military and individual users. Furthermore, the governments of the U.S. and India are projected to increase the use of off-grid solar power to deliver access to electricity for outdoor troops. Moreover, escalating the use of electronic equipment in the defense sector is expected to boost demand for foldable solar chargers.
Why is the Defense segment expected to expand the fastest during the forecast period?
The defense application segment is predicted to expand at the fastest CAGR of 21.8% during the forecast period, driven by supportive government initiatives to increase the use of solar power for large military buildings and remotely located troops and equipment. Also, owing to the changing climate, the U.S. military is shifting towards renewable energy sources, including solar energy such as battery-powered electronics and portable solar chargers (also known as “solar backpacks”) that can be used in rear areas of these remote bases without any dependency on fuel convoys or airdrops.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Manufacturers of Portable Solar Chargers are channeling efforts toward expanding their production capacities and strengthening their retailer and distributor network. It will certainly impact the market shortly.
A list of some of the key suppliers present in the market are:
Global Portable Solar Charger Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Panel Type, Portability, Application and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|