The global solar charger market was valued at $575 million in 2022, and is projected to reach $ 1.84 billion by 2032, growing at a CAGR of 12.5% from 2023 to 2032.
Solar chargers harness sunlight to generate power for electronic devices such as smartphones and tablets. It comprises photovoltaic panels that convert solar energy into electricity and store it in batteries or are used for direct device charging. Designed for portability, solar chargers are ideal for outdoor activities, travel, and emergencies in areas lacking conventional power sources. They present a sustainable and eco-friendly solution, which reduces reliance on the grid and offers a convenient means of powering devices through renewable solar energy.
Surge in adoption of electric vehicles serves as a driver for the growth of the solar charger market. Rise in need for charging infrastructure driven by the popularity of electric vehicles may be met sustainably and decentralized by solar chargers. The market for solar chargers is expected to play a significant part in determining the direction of sustainable mobility, as environmental awareness, government assistance, and technological advances are propelling this shift.
Rise in awareness of the environmental benefits of converting from internal combustion engine vehicles to electric vehicles among customers, companies, and governments led to rise in the adoption of electric vehicles globally. However, expansion of EV use presents infrastructure-related problems, particularly in places where conventional power grids may not be able to support them. Owners of electric vehicles (EVs) may reduce their need on traditional power sources by employing solar chargers, which provide a decentralized and off-grid solution to this problem.
The rise in integration of solar panels directly into electric car designs is another way that solar energy and electric vehicles are related. Several manufacturers are incorporating solar panels into the body of electric automobiles to capture sunlight for additional electricity or to help in the vehicle's battery charge. This comprehensive strategy further promotes sustainable transportation by building an all-encompassing solar-powered ecosystem for electric vehicles with the help of external solar chargers. Thus, increase in adoption of EV vehicles is expected to drive the demand for solar chargers, leading to the market growth.
Development and widespread use of solar chargers are hampered by the intermittent nature of solar energy. The inconsistency of the sun owing to several factors like weather, time of day, and location presents natural problems for solar chargers, which depend on sunlight to generate electricity. The intermittent nature of solar chargers limits their capacity to operate consistently and dependably, thus affecting their suitability as the major or only power source for electronic devices.
The unpredictable nature of electricity generation is one of the main problems caused by solar energy's intermittent nature. As solar chargers rely primarily on sunlight to function, any type of obstacle, like clouds or shade, can drastically lower their effectiveness. It is difficult for consumers to rely entirely on solar chargers owing to this unpredictability, especially in areas with little sunlight or during bad weather.
The intermittent nature of solar energy is exacerbated by the daily and seasonal variations in sunlight. As the sun does not always shine during the day, solar chargers may operate less efficiently in the early morning, late afternoon, and at night. For consumers that depend on a steady and dependable power source, this variability in power generation may pose a serious challenge, particularly during times of peak energy consumption. Thus, the intermittent nature of solar energy restrains the growth of the solar charger market during the forecast period.
Decrease in solar panel costs presented an excellent growth opportunity for the solar charger market. The relatively high cost of solar panels was one of the main barriers to the broad use of solar technologies, particularly solar chargers. While the cost of solar panels decreased due to improved manufacturing techniques, economies of scale, and increased competition, the market for solar chargers has grown significantly.
The combination of market forces and advances in technology led to decrease in the cost of solar panels. The efficiency of solar cells significantly increased over time, which enables producers to create more electricity using fewer components.
Furthermore, advancements in production methods and materials have improved the solar panel manufacturing process's affordability and scalability. The cost per watt of solar power output significantly decreased as production costs have decreased and solar panel efficiency has increased, making solar chargers more accessible and affordable for a wider range of consumers. Thus, decrease in solar panel costs presented a lucrative growth opportunity for the solar charger market.
The solar charger market is segmented by type, solar panel type, application, and region. On the basis of type, the market is divided into portable and standalone. By solar panel type, the market is classified into fixed, folding, and flexible. Depending on application, it is categorized into consumer electronics, transportation, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global solar charger market are Allpowers Industrial International, Goal Zero, letsolar, RAVPower, Renogy, Secur, Solar Frontier Europe GmbH, Solar Technology International, The NOCO Company, and YOLK.
Other players include Anker, BioLite Inc., Choetech Store, Hanergy Thin Film Power Group Europe, Little Sun, OUTXE, Suntrica, ToughTested, Voltaic Systems, and Xtorm.
Solar chargers harness sunlight to generate power for electronic devices such as smartphones and tablets. It comprises photovoltaic panels that convert solar energy into electricity and store it in batteries or are used for direct device charging. Designed for portability, solar chargers are ideal for outdoor activities, travel, and emergencies in areas lacking conventional power sources. They present a sustainable and eco-friendly solution, which reduces reliance on the grid and offers a convenient means of powering devices through renewable solar energy.
Surge in adoption of electric vehicles serves as a driver for the growth of the solar charger market. Rise in need for charging infrastructure driven by the popularity of electric vehicles may be met sustainably and decentralized by solar chargers. The market for solar chargers is expected to play a significant part in determining the direction of sustainable mobility, as environmental awareness, government assistance, and technological advances are propelling this shift.
Rise in awareness of the environmental benefits of converting from internal combustion engine vehicles to electric vehicles among customers, companies, and governments led to rise in the adoption of electric vehicles globally. However, expansion of EV use presents infrastructure-related problems, particularly in places where conventional power grids may not be able to support them. Owners of electric vehicles (EVs) may reduce their need on traditional power sources by employing solar chargers, which provide a decentralized and off-grid solution to this problem.
The rise in integration of solar panels directly into electric car designs is another way that solar energy and electric vehicles are related. Several manufacturers are incorporating solar panels into the body of electric automobiles to capture sunlight for additional electricity or to help in the vehicle's battery charge. This comprehensive strategy further promotes sustainable transportation by building an all-encompassing solar-powered ecosystem for electric vehicles with the help of external solar chargers. Thus, increase in adoption of EV vehicles is expected to drive the demand for solar chargers, leading to the market growth.
Development and widespread use of solar chargers are hampered by the intermittent nature of solar energy. The inconsistency of the sun owing to several factors like weather, time of day, and location presents natural problems for solar chargers, which depend on sunlight to generate electricity. The intermittent nature of solar chargers limits their capacity to operate consistently and dependably, thus affecting their suitability as the major or only power source for electronic devices.
The unpredictable nature of electricity generation is one of the main problems caused by solar energy's intermittent nature. As solar chargers rely primarily on sunlight to function, any type of obstacle, like clouds or shade, can drastically lower their effectiveness. It is difficult for consumers to rely entirely on solar chargers owing to this unpredictability, especially in areas with little sunlight or during bad weather.
The intermittent nature of solar energy is exacerbated by the daily and seasonal variations in sunlight. As the sun does not always shine during the day, solar chargers may operate less efficiently in the early morning, late afternoon, and at night. For consumers that depend on a steady and dependable power source, this variability in power generation may pose a serious challenge, particularly during times of peak energy consumption. Thus, the intermittent nature of solar energy restrains the growth of the solar charger market during the forecast period.
Decrease in solar panel costs presented an excellent growth opportunity for the solar charger market. The relatively high cost of solar panels was one of the main barriers to the broad use of solar technologies, particularly solar chargers. While the cost of solar panels decreased due to improved manufacturing techniques, economies of scale, and increased competition, the market for solar chargers has grown significantly.
The combination of market forces and advances in technology led to decrease in the cost of solar panels. The efficiency of solar cells significantly increased over time, which enables producers to create more electricity using fewer components.
Furthermore, advancements in production methods and materials have improved the solar panel manufacturing process's affordability and scalability. The cost per watt of solar power output significantly decreased as production costs have decreased and solar panel efficiency has increased, making solar chargers more accessible and affordable for a wider range of consumers. Thus, decrease in solar panel costs presented a lucrative growth opportunity for the solar charger market.
The solar charger market is segmented by type, solar panel type, application, and region. On the basis of type, the market is divided into portable and standalone. By solar panel type, the market is classified into fixed, folding, and flexible. Depending on application, it is categorized into consumer electronics, transportation, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global solar charger market are Allpowers Industrial International, Goal Zero, letsolar, RAVPower, Renogy, Secur, Solar Frontier Europe GmbH, Solar Technology International, The NOCO Company, and YOLK.
Other players include Anker, BioLite Inc., Choetech Store, Hanergy Thin Film Power Group Europe, Little Sun, OUTXE, Suntrica, ToughTested, Voltaic Systems, and Xtorm.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar charger market analysis from 2022 to 2032 to identify the prevailing solar charger market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the solar charger market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global solar charger market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Portable
- Standalone
By Solar Panel Type
- Folding
- Fixed
- Flexible
By Application
- Consumer Electronics
- Transportation
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Goal Zero
- Allpowers Industrial International
- letsolar
- RAVPower
- renogy-solar
- Secur.
- Solar Frontier Europe GmbH
- Solar Technology International
- the noco company
- yolk
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SOLAR CHARGER MARKET, BY TYPE
CHAPTER 5: SOLAR CHARGER MARKET, BY SOLAR PANEL TYPE
CHAPTER 6: SOLAR CHARGER MARKET, BY APPLICATION
CHAPTER 7: SOLAR CHARGER MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Goal Zero
- Allpowers Industrial International
- letsolar
- RAVPower
- renogy-solar
- Secur.
- Solar Frontier Europe GmbH
- Solar Technology International
- the noco company
- yolk
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 575 million |
| Forecasted Market Value ( USD | $ 1840 million |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
