SAN FRANCISCO, Sept. 3, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 80 page research report with TOC on "Portable Solar Charger Market Size, Share & Trends Analysis Report By Product (Small Portable, Foldable, Backpack), By Application (Individual, Defense), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/portable-solar-charger-market
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.
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
- Portable Solar Charger Application Outlook (Revenue, USD Million, 2015 - 2025)
- Portable Solar Charger Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Find more research reports on Consumer Goods Industry, by Grand View Research:
- Mobile Phone Protective Cover Market – The global mobile phone protective cover market size was valued at USD 21.4 billion in 2018, registering a 7.5% CAGR during the forecast period. Increasing penetration of smartphones across the globe is the main factor driving demand for protective cases.
- Home Theatre Market – The global home theatre market size was valued at USD 7.7 billion in 2018. Increasing number of smart homes that are equipped with connected communication devices is driving the market for home theatre.
- Portable Mini Fridge Market – Increasing enthusiasm for outdoor recreational activities among millennials at the global level as a result of rising awareness regarding improved fitness is expected to promote the use of portable mini fridges for keeping the freshness of food and beverages.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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