Global portable solar charger market is expected to register a 13.2% CAGR over the forecast period. Moreover, the global portable solar charger market was valued at USD 20,498.4 Million in 2016.
The global portable solar charger market is segmented into product type such as solar trickle charger, clamshell solar charger, folding solar charger, backpacks solar charger. Among these segments, clamshell solar charger segment is expected to occupy the top position in the market.
The rise of the clamshell solar charger segment is backed by its compact and lightweight design. Moreover, it can be used in areas of adventures and harsh conditions owing to its rugged and waterproof design.
The market is expected to expand on the back of favorable government policies and increasing environmental awareness.
The individual consumers segment is estimated to register a CAGR of 12.4% during the forecast period. Moreover, the individual consumers segment is expected to account for the largest share of revenue across the globe.
Factors such as rising disposable income and rapid pace of urbanization are expected to propel the growth of this segment. Further, the go green energy policies of the government are appealing to the people to adopt solar products.
Environment and energy saving concerns
Factors related to environmental concern such as carbon emission, global warming and pollution and increasing consumer awareness are driving the growth of solar powered products. Further, the consumers of electronic industries are transitioning from non-renewable energy products to renewable energy products.
Moreover, clean energy products have various advantages over the traditional energy product. These advantages are expected to bolster the market of portable solar powered products.
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Favourable government initiatives and programmes
Governments of developed countries are encouraging the solar energy generating additions. For instance, U.S. has observed and inclination in its solar energy additives from 4% to 39% from 2010 to 2016.
These encouragements are increasing the consumer awareness which is further anticipated to increase the demand for portable solar chargers.
Although, high cost of portable solar charger, lack of awareness in various undeveloped countries across the globe and presence of poor quality of products by local companies are some of the factors that are likely to inhibit the growth of the portable solar charger market in the near future.
The report titled “Global Portable Solar Charger Market Outlook 2023” delivers detailed overview of the global portable solar charger market in terms of market segmentation by product type, by end-user type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global portable solar charger market which includes company profiling of Philips Electronics, Cobra Electronics, SolarTab, Poweradd, Solio, Solar Frontier, Goal Zero, Anker, Suntrica, empo-NI. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global portable solar charger market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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