Global Portable Solar Charger Market

Global Portable Solar Charger Market, By Product (Small Portable Solar Charger, Foldable Solar Charger, Backpack Solar Charger, Clamshell Solar Charger); By Application (Individual, Defense); By End-User (Individual Consumers, Military, Transportation), By Component (Solar Charger Controller, Inverter, Battery); By Region (North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2121
  • Available Format: PDF
  • Page: 200

Report Overview

The primary purpose of solar chargers is to utilise solar energy for the purpose of charging batteries or supplying electricity to devices.Photovoltaic energy is the energy that is obtained by the conversion of sunlight into electricity. A solar cell, also known as the photovoltaic cell, converts solar energy directly into electrical energy.

The global portable solar charger market was worth USD 587.2 million in 2020 and is further projected to reach USD 2,540.1 million by 2027, at a CAGR of 23.3 % during the forecast period (2021-2027).The portable solar charger market is growing due to increased environmental concerns and growing awareness of depleting energy resources and the shift towards renewable energy sources. Additionally, the rise in sales of smartphones, cameras, tablets, and other electronic gadgets, as well as the inclination of consumers towards clean energy to charge electronic devices are powering the growth of the portable solar charger market worldwide. According to International Data Corporation (IDC)Worldwide Quarterly Mobile Phone Tracker, approximately 346 million smartphones were shipped in the first quarter of 2021 globally.As a result, the market for portable solar chargers is growing as sales of smartphones and other electronic devices rise.

Portable Solar Charger Market

Source: BlueWeave Consulting

Global Portable Solar Charger Market Overview

The primary purpose of solar chargers is to utilise solar energy for the purpose of charging batteries or supplying electricity to devices.Photovoltaic energy is the energy that is obtained by the conversion of sunlight into electricity. A solar cell, also known as the photovoltaic cell, converts solar energy directly into electrical energy. It is a type of charger that uses solar energy to supply electricity to devices and electronic gadgets. They are generally portable. Solar charger setups typically have an intelligent charger controller. The primary function of the charger controller is to save the battery from overcharging. A series of solar cells are installed in any stationary place, such as rooftops of homes and base stations located on the ground. These solar cells are connected to a battery bank to store energy for off-peak usage.

Portable solar chargers are increasingly used to charge smartphones and other electronic devices on the go. Portable solar chargers use different kinds of solar panels like thin-film panels and microcrystalline panels. Thin-film boards have efficiencies from 7 to 15%, whereas microcrystalline panels' efficiency is up to 18%. Other types of solar chargers come with wheels to make them more portable.Those are public chargers for general people that are not permanent and do not have any fixed location.Portable solar chargers are highly employed in the rural areas of developing countries to solve the problem of electricity shortages. In rural areas, solar chargers are replacing traditional kerosene lamps which can cause respiratory infections and eye diseases.It is therefore, an important invention for the conservation of non-conventional resources.

Global Portable Solar ChargerMarket Trend

Growth Drivers

Rising Penetration of Smartphones

The increasing sale of smartphones drives the growth of the portable solar charger market. According to International Data Corporation's (IDC) Worldwide Quarterly Mobile Phone Tracker, global smartphone shipment is expected to rise by 25%compared to 2020. Moreover, APAC countries, especially China, make the highest gains.Solar chargers consist of universal power adapters, so they can be attached to a wide variety of devices, including smartphones.The fact that solar chargers can easily connect to the batteries which a device may contain is fueling the growth of the portable solar charger market.It is also a suitable alternative for backpacking, trekking and camping as there is no electricity available in such locations to charge smartphones. As a result, outdoor enthusiasts who may not have immediate access to a power outlet for charging their smartphone choose portable solar chargers.According to the annual report of the Centrica Company, which is a global leader in the portable solar charger company reported the annual revenue of USD 20.8 billion in 2019and solar portable charger was the highest revenue generating business.Thus, it is evident that the rising sales of smartphones is powering the growth of the portable charger market.

Rise in Technological Advancements

A rise in technological advancements has driven the growth of the market for portable solar chargers.As a solar conductor, polymers that are dissolved in a solvent to form thin film nanoparticles have recently made tremendous progress over silicon.The creation of solar fabric, in which solar cells are woven into fabric and easily generate solar energy, is another scientific breakthrough. Solar fabric has endless possibilities in military, rescue operations, disaster relief, recreational options, medical units, and temporary housing. Hence increasing technological advancements is fueling the growth of the portable solar charger market across the globe.

 

Restraints

Growth is hindered by the high cost of manufacturing and need for sunlight

A portable solar charger's biggest disadvantage is that it requires sunlight in order to work.With the setting of the sun, the amount of energy supplied will drop dramatically. Additionally, the cost of manufacturing portable solar chargers is very high. A leading company that manufactures solar chargers, Loom Solar report's that the average manufacturing cost of a 1kW solar charger is U.S.D. 94.36.Furthermore, the cost of maintenance is very high; therefore, everyone cannot afford it.These are the factors that restrict the growth of the global portable charger market.

 

Impact of COVID-19

The COVID-19-induced pandemic brought economies to a screeching halt.It is clear that the portable solar charger market industry was not exempt from the pandemic impact, and its uncertain future is causing concern among many businesses.Solar equipment supply chains have been impacted worldwide as a result of the Corona crisis.Various solar projects in India were delayed due to China's initial slowdown, followed by a nationwide lockdown in India. According to CRISIL (Credit Rating Information Services of India Limited), in 2020, about 3GW solar projects of USD 1600 million were affected in India. Hence it is evident that COVID-19 negatively impacted the global portable solar charger market.

 

Global Portable Solar Charger Market: By Application

The portable solar charger market is grouped into two categories based on application: individual and defense. The individual application has the largest share in the global portable solar charger market as consumers are increasingly shifting towards clean energy sources. Portable solar chargers are gaining popularity amongst mountaineers, hikers, bikers to charge their mobile phones, tablets, and cameras. It is estimated that the number of bikers traveling globally will continue to grow in the coming years, which is likely to boost the growth of the individual market segment.

Portable Solar Charger Market Size

Source: Blue Weave Consulting

Global Portable Solar Charger Market: By End-User

Based on end-users, the global portable solar charger is divided into three categories— individual consumers, military, and transportation. Among these segments, the military segment accounted for the largest market share as the portable solar chargers havesignificantly reduced the loads of the batteries that soldiers have to carry to charge their electronic devices. As there is no reliable electricity supply, the batteries carried by military personnel are not only heavy and bulky, but they also cannot be easily recharged.Due to these factors the military segment holds the largest share in the end-user segment.

 

Global Portable Solar Charger Market: Regional Insights

Geographically, the global portable solar charger market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. The Asia-Pacific dominates the global portable solar charger market among all the continents. Various government initiatives in India and other countries are aiming at providing energy access to those without energy grids. Additionally, they are increasing the adoption of a portable solar panel by the military to provide electricity access to remote locations in the hopes of boosting the growth of the Asia-Pacific region. The government organizations are also giving subsidies on solar lamps, batteries, and torches. Owing to these factors, the Asia-Pacific holds the largest share in the global portable solar charger market.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The global portable solar charger market is experiencing immense competition among the various key players based on the quality of product, charging capacity, and prices of portable solar chargers. Also, consumers are more concentration on the best features of portable solar charger at the lowest price. Some of the key players are Philips Electronics, Cobra Electronics, SolarTab, Poweradd, Solio, Solar Frontier, GoalZero, Anker, Centrica, Empo-Ni, Voltaic, Xtorm, Xsories, POWER TRAVELLER, Yingli Solar, Suntactics, IceTech, X-DRAGON, Renogy, and other prominent players. In order to increase their manufacturing capability, quality, and product portfolio, the key players engage in the mergers, alliances, and acquisitions.

Recent Development

  • In July 2021, CTEK has announced the release of the world's first totally portable battery charger featuring adaptive boost technology.CTEK named the product CS Free, which is world portable battery charger equipped with adaptive boost technology. This can charge car batteries within 15 minutes.
  • In January 2020, Suntactics launched a solar charger called sCharger-Lite, which is lighter and has been in demand by hikers.It had a good battery backup to serve the purpose of hiking.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia, Mexico.

Product/Service Segmentation

By Product, Application, End-User, Component, Region.

Key Players

Key Players for the market are Philips Electronics, Cobra Electronics, SolarTab, Poweradd, Solio, Solar Frontier, GoalZero, Anker, Centrica, Empo-Ni, Voltaic, Xtorm, Xsories, POWER TRAVELLER, Yingli Solar, Suntactics, IceTech, X-DRAGON, Renogy, and other prominent players

 

By Product

  • Small Portable Solar Charger
  • Foldable Solar Charger
  • Backpack Solar Charger
  • Clamshell Solar Charger

By Application

  • Individual
  • Defense

By End-User

  • Individual Consumers
  • Military
  • Transportation

By Component

  • Solar Charger Controller
  • Inverter
  • Battery

By Region

  • The Asia-Pacific
  • North America
  • Europe
  • The Middle East & Africa
  • Latin America

 

FAQs:

  1. What is the current size of the global portable solar charger market?

Answer: The global portable solar charger market reached USD 587.2 million in 2020.

 

  1. What are the major factors driving the growth of the global portable solar charger market?

Answer: Increased sales of smart phones and technological advancements are driving the growth of the global portable solar charger market.

  1. Who are the key players in the global portable solar charger market?

Answer: The key players in the global portable solar charger market are Philips Electronics, Cobra Electronics, SolarTab, Poweradd, Solio, Solar Frontier, GoalZero, Anker, Centrica, Empo-Ni, Voltaic, Xtorm, Xsories, POWER TRAVELLER, Yingli Solar, Suntactics, IceTech, X-DRAGON, Renogy, and other prominent players.

  1. Which application accounted for the largest share in the global portable solar charger market?

Answer: Based on applications, the individual segment accounted for the largest share in the global portable solar charger market.

  1. Which region is growing at a higher rate in the global portable solar charger market?

Answer: The Asia-Pacific growing at a higher rate in the global portable solar charger market.