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I AgreeAnalysis of Portable Solar Chargers market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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.
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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.
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.
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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.
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.
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Segmentation table of the global portable solar chargers market has been provided below on the basis of Product, Panel Type, Panel Size and Region
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The Panel types of Portable Solar Chargers are Monocrystalline Polycrystalline and many more.
The types of portable chargers are Foldable portable chargers , Small portable chargers and Semi potable chargers.