The global portable solar charger market size is anticipated to reach USD 1.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 21.3% over the forecast period. Shifting consumer inclination towards on-the-go environmental friendly products due to increasing awareness related to depleting energy resources is a main factor driving the sales of portable solar charger over the forecast period. Moreover, government bodies in India and Africa provide subsidies on rechargeable products such as lanterns, lamps, torch, and batteries in order to increase energy access to people not connected to electric grid. In addition, increasing penetration of mobile phones in the rural parts of Africa and India is expected to create huge opportunity for these chargers in upcoming years.
Small portable solar charger held
a leading market share in 2018. The foldable segment is anticipated to expand
at the fastest CAGR of 22.0% over the forecast period. The U.S. military is
increasingly shifting towards renewable energy resources in order to reduce its
dependency on oil energy, which is expected to increase adoption of solar panel
and chargers in upcoming years. Moreover, increasing use of various electronic
surveillance equipment by military is expected to boost demand for the foldable
solar chargers over the forecast period.
The individual segment held a
leading share of 69.5% in 2018. Increasing participation in outdoor activities
such as hiking, biking, and mountaineering, especially in developed countries,
is expected to provide growth opportunity for these types of chargers. The
number of bikers traveling globally is continuously increasing to cement their
love for riding. This trend has encouraged many tour organizers to roll out
riding tours outside India. In addition, many bike manufacturers are hosting
tours internationally to promote their brands.
Asia Pacific emerged as the
largest regional market in 2018 on account of growing product visibility,
especially in India, Bangladesh, and Indonesia. Moreover, government
organizations including the World Bank, International Finance Corporation, and
Global Off-Grid Association have undertaken supportive initiatives to increase
energy access to remote areas and villages with off-grid solar power. North
America is anticipated to expand at a CAGR of 20.9% from 2019 to 2025. This
growth is attributed to increasing product penetration, coupled with rising
popularity of adventurous outdoor activities on account of increasing awareness
related to maintaining a healthy life.
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Further key
findings from the report suggest:
- U.S. is a leading country in
the North America market, expanding at a CAGR of 20.8% from 2019 to 2025.
The market is driven by shifting preference towards environment friendly
products including solar chargers
- The portable solar charger
market in Europe is expected to reach USD 385.5 million by 2025
- Asia Pacific held the
largest market share in 2018 owing to rise in product availability. India
held more than 25.0% share of overall revenue in 2018 on account of rising
popularity of solar charger among residential users
- The global market is highly
competitive in nature due to presence of companies including Goal Zero,
Voltaic Systems Systems, EMPO-NI off-grid solutions, Anker Innovations
Limited, Instapark, Suntactics, X-DRAGON, Renogy, and Powertraveller
International Ltd.
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Grand View Research has segmented
the global portable solar charger market by product, application, and region:
Portable Solar
Charger Product Outlook (Revenue, USD Million, 2015 - 2025)
- Small Portable
- Foldable
- Backpack
Portable Solar
Charger Application Outlook (Revenue, USD Million, 2015 - 2025)
- Individual
- Defense
Portable Solar
Charger Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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