The Global Solar Charger Market size is expected to reach $1.3 billion by 2030, rising at a market growth of 12.1% CAGR during the forecast period.
The growing demand for solar chargers has increased the availability and variety of products in the North American region. Consequently, the North America region would acquire nearly 12% market share by 2030. North America has a strong outdoor culture, with many individuals engaging in camping, hiking, and backpacking activities. The vulnerability of traditional power grids to disruptions has led individuals and businesses in North America to consider energy resilience.
Urbanization often coincides with initiatives promoting clean energy alternatives. Sustainable living advocates and local governments in urban areas actively promote using these chargers to reduce residents' carbon footprint and contribute to a cleaner and healthier environment. Sustainable building practices are gaining traction in urban development. Solar panels integrated into building architecture are known as building-integrated photovoltaics or BIPV. Thus, because of the growing urbanization and sustainable living, the market is anticipated to increase significantly. Additionally, these chargers can be integrated into electric vehicles, providing an additional power source to recharge the battery. Ongoing advancements in solar technology, including more efficient solar panels and improved energy storage systems, contribute to the feasibility and effectiveness of integrating these chargers with electric vehicles. Hence, rising adoption of electric vehicles has been a pivotal factor in driving the growth of the market.
However, the complex regulatory landscape introduces uncertainty for investors financing solar charging projects. Regulatory complexities may cause the acquisition of permits and approvals for solar charging infrastructure installation time-consuming and complex. Thus, lack of complex regulatory landscape can slow down the growth of the market.
The growing demand for solar chargers has increased the availability and variety of products in the North American region. Consequently, the North America region would acquire nearly 12% market share by 2030. North America has a strong outdoor culture, with many individuals engaging in camping, hiking, and backpacking activities. The vulnerability of traditional power grids to disruptions has led individuals and businesses in North America to consider energy resilience.
Urbanization often coincides with initiatives promoting clean energy alternatives. Sustainable living advocates and local governments in urban areas actively promote using these chargers to reduce residents' carbon footprint and contribute to a cleaner and healthier environment. Sustainable building practices are gaining traction in urban development. Solar panels integrated into building architecture are known as building-integrated photovoltaics or BIPV. Thus, because of the growing urbanization and sustainable living, the market is anticipated to increase significantly. Additionally, these chargers can be integrated into electric vehicles, providing an additional power source to recharge the battery. Ongoing advancements in solar technology, including more efficient solar panels and improved energy storage systems, contribute to the feasibility and effectiveness of integrating these chargers with electric vehicles. Hence, rising adoption of electric vehicles has been a pivotal factor in driving the growth of the market.
However, the complex regulatory landscape introduces uncertainty for investors financing solar charging projects. Regulatory complexities may cause the acquisition of permits and approvals for solar charging infrastructure installation time-consuming and complex. Thus, lack of complex regulatory landscape can slow down the growth of the market.
By Solar Panel Type Analysis
Based on solar panel type, the market is classified into folding, fixed, and flexible. The fixed segment acquired a 35% revenue share in the market in 2022. Fixed chargers are designed to remain stationary, allowing them to harness sunlight consistently. This reliability ensures continuous power generation, making fixed installations suitable for applications that require a consistent and uninterrupted energy supply.By Type Analysis
By type, the market is categorized into portable and standalone. The standalone segment covered a 40% revenue share in the market in 2022. The standalone segment of these chargers is versatile and can power various devices, including smartphones, laptops, cameras, GPS devices, and even small appliances. This versatility makes standalone these chargers suitable for various applications in different environments.
By Application Analysis
On the basis of application, the market is divided into consumer electronics, transportation, and others. The transportation segment garnered 32% revenue share in the market in 2022. These chargers enhance the range of electric vehicles by providing an additional energy source. Electric vehicles can convert sunlight into electricity through solar panels while stationary or in motion, augmenting the overall charging capacity.By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating 60% revenue share. Rapid urbanization, population expansion, and industrialization characterize the region, which has led to a greater focus on sustainable living practices. Increasing awareness of environmental issues, climate change, and the benefits of renewable energy solutions has resonated with consumers in the region.List of Key Companies Profiled
- RENOGY
- NRG Energy, Inc.
- Voltaic Systems
- Nekteck Inc
- The NOCO Company
- Shenzhen Letsolar Energy Limited
- Garmin Ltd.
- Anker Innovations Co. Ltd.
- PowerFilm Solar, Inc.
Market Report Segmentation
By Solar Panel Type- Folding
- Fixed
- Flexible
- Portable
- Standalone
- Consumer Electronics
- Transportation
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Netherlands
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Australia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- Egypt
- Morocco
- South Africa
- Chile
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Solar Charger Market by Solar Panel Type
Chapter 5. Global Solar Charger Market by Type
Chapter 6. Global Solar Charger Market by Application
Chapter 7. Global Solar Charger Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- RENOGY
- NRG Energy, Inc.
- Voltaic Systems
- Nekteck Inc
- The NOCO Company
- Shenzhen Letsolar Energy Limited
- Garmin Ltd.
- Anker Innovations Co. Ltd.
- PowerFilm Solar, Inc.
Methodology
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