Portable Solar Chargers Market

Adventure Enthusiasts Propel Portable Solar Chargers Sales, Market Growth Pegged at 7.5%

The need for on-the-go usage of solar energy has evolved significantly in the recent past. Consumer spending on expensive battery packs has shifted towards affordable technologies like portable solar chargers. At present, campers account for more than 80% of portable solar charger end-users, and their role is further expected to intensify, owing to 6.4% annual increase in camping population in developed regions.

Adventure and sports enthusiasts looking for convenient, off grid solutions have been driving sales of portable solar chargers. Owing to its image as an economical power alternative, the market for solar portable chargers has witnessed an upsurge in the number of companies entering the portable solar chargers market. These factors project the global portable solar charger market growth at 7.5%, between 2019 and 2029.

North America Races Ahead as Europe and East Asia Present Highest Growth Potential in Portable Solar Chargers Market

Portable solar chargers is a relatively new technology still in nascent stage in multiple regions. North America holds for highest share in portable solar chargers market, accounting for more than 30% in terms of value. Europe presents highest potential for growth with projected growth of 2.2X over current market value, while East Asia is expected to be highly conducive with added business environment benefits like low logistical costs.

In 2019 Jackery inc., one of the market leaders in portable solar chargers market, entered into a partnership with JVCKENWOOD Corporation and launched new portable solar charger accessory ‘Jackery Tuned by JVC’ in Japanese market. This expansion was aimed at exploration of East Asian markets and establishing the company’s presence. Similar regional expansion is expected to benefit companies as well as intensify usage of portable solar chargers in Europe and East Asia.

Consumer Attraction for Portable Solar Chargers Intensifies as Innovations Abound

One of the key avenues being explored for the portable solar chargers are backpacks equipped with solar panels. Since the conception of solar equipped backpack, consumer attraction towards portable solar chargers has intensified.

A successful crowd funding project by Voltaic Systems for solar panel equipped backpack can be considered as one of the key indicators for the increased popularity of multifunctional solar chargers. The amount received by Voltaic Systems was around double of its capital requirement.

Monocrystalline Solar Panels Account for 70% Share in Portable Solar Chargers Market

Currently monocrystalline solar panels hold a majority share in portable solar chargers market, accounting for more than 70% in terms of value. Further, increase in monocrystalline panel adoption in portable solar chargers market can be expected during forecast period, owing to substantial research carried out in solar panels industry.

Decrease in price of monocrystalline panels in comparison with output and efficiency has been observed in the recent past, and is expected to fuel adoption rate of portable solar chargers. The switch from polycrystalline panels to monocrystalline panels is expected to lower the share of polycrystalline solar cells in portable solar chargers market. However, the decline is expected to be gradual. Polycrystalline based portable solar chargers are expected to benefit short term investments in terms of quick returns.

Vertical Integration Remains a Prominent Strategy for Portable Solar Charger Manufacturers

Portable solar chargers market is highly fragmented, with top players accounting for 20% of the market share. Majority of key players in portable solar charger market like Suntactics, Goal Zero LLC, and Powertraveller International Ltd are working as subsidiaries of top organizations in energy sector.

Other market leaders like Jackery Inc. and GigaWatt Inc. have concentrated on establishing partnerships with market leaders in battery and related technologies to integrate and optimize their existing portfolios. Movements of other players for similar partnerships are aimed at providing additional functionalities and revamping existing portfolio.

• In 2018, Jackery inc. formed partnership with Honda for Lithium Power License Deal. The deal includes offering of new lightweight portable power station with lithium battery technology
• In February 2019, Suntactics started production of sCharger-Lite, which is compact and weighs 5.6oz, and has power output of 5.1V.
• In 2019, Zamp Solar launched a new solar panel system called the ‘Obsidian Series’. The series is designed to be thin and durable, 30% lighter and with a 25 year output warranty

Global Portable solar chargers Market: Segmentation

Segmentation table of the global portable solar chargers market has been provided below on the basis of Product, Panel Type, Panel Size and Region

Product Type	Foldable Small Portable Semi Portable
Panel Type	Monocrystalline Polycrystalline Others
Panel Size (Wattage)	Less than 10W 10W to 50W More than 50W
Region	North America Latin America Europe East Asia South Asia Oceania Middle East and Africa