Portable Solar Charger Market size is expected to reach USD 17.6 Billion by the end of 2036, growing at a CAGR of 14.1% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of portable solar chargers was USD 3.6 Billion. The reason behind the growth is impelled by the growing demand for environmentally friendly products, along with the high usage of smartphones, tablets, and other portable electronics. According to the International Energy Agency (IEA), 1 Jan 2024 report- the usage of renewable energy reaches an estimated 507GW in 2023, which is almost 50% higher than in 2022, and with continuous governmental support in 130+ countries, this market is expected to grow in the forecasted years.
For instance, there has been an increasing surge in traveling to the outskirts where the only source available is the naturally occurring resources, in 2022, the travel and tourism industry crossed over 7 trillion USD which directly contributed to the global gross domestic product. This acts as a major growth factor for advanced features in the portable solar charger market.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~14.1% |
|
Base Year Market Size (2023) |
~ USD 3.6 Billion |
|
Forecast Year Market Size (2036) |
~ USD 17.6 Billion |
|
Regional Scope |
|
Product Type (Small-Portable, Semi-Foldable, Backpack)
The small portable segment is predicted to account for 43% share of the portable solar charger market by 2036. owing to its convenient and compact design which makes them easy to carry and stash while having a typical battery capacity of up to 10,000 mAh. As solar provides 30% of the new electricity produced in the United States in 2019, up from just 4% in 2010, this drives the portable solar charger market growth. The portable and semi-foldable solar chargers have larger batteries and more efficient panels, while the semi-foldable is even more robust than their portable part while being durable enough to cope with outdoor conditions. Backpacks provide a comfortable way to carry and also provide an extra storage space for other items.
Panel Type (Mono-crystalline, Poly-crystalline, Amorphous, Hybrid)
The mono-crystalline segment predicted to account for 45% share of the global portable solar charger market by the end of 2036. Mono-crystalline solar panels are highly efficient in converting sunlight into electricity while having a typical efficiency of around 20% which makes them in much demand, Poly-crystalline and Amorphous are made up of a less-ordered molecular structure which makes them less efficient but can be manufactured at lower cost. Hybrid solar panels combine both mono-crystalline and amorphous solar cells which increases their performance and efficiency.
Application (Individual, Defense, Transportation)
Individual portable solar chargers dominated the global portable solar charger market in 2022, and are mainly used to reduce the dependence on grid power and utilize renewable energy as these solar chargers can be used by the military for off-grid operations when standard power sources of energy are unavailable. Along with this, these chargers can be used as an energy source for electric and hybrid vehicles, which provides an additional source of power while on the go.
Panel Size (Less than 10W, 10W to 50W, more than 50W)
The panels with a size of less than 10W are typically designed for niche applications such as emergency use or powering small devices, as they provide limited power output. Panels under 10W to 50W are ideal for larger devices such as tablets and smartphones while being small and lightweight enough to be conveniently carried around. Panels with a size of more than 50W are designed for heavy-duty applications, such as power generators and off-grid operations. They are large enough to provide power to devices such as laptops and appliances.
Our in-depth analysis of the global portable solar charger market includes the following segments:
|
Product Type |
|
|
Panel Type |
|
|
Application |
|
|
Panel Size |
|
North American Market Forecast
The portable solar charger market in North America was valued at USD 1.04 Billion by 2023 and is predicted to account for the largest share of 32% during the forecasted period. Due to the rising awareness of the depletion of energy supplies, people are now switching more towards environmental resources such as solar energy. By June 2022, more than 50,000 off-site solar were installed in different facilities nationwide. In Canada, hydropower accounts for 63% of electricity generation, and some dams are more than 100 years old. Solar chargers can be used to charge several devices like, GoPro cameras, tablets, and smartphones, due to which hikers, motorcyclists, and mountaineers are more gravitating towards such devices. The UK market was the fastest-growing market in 2022.
European Market Statistics
The Europe portable solar charger market is estimated to be the second largest, during the forecast timeframe, with a 28% share of market revenue in 2022. As more population is getting involved in outdoor activities due to the high surge in awareness regarding the importance of physical activities along with the adoption of a sedentary lifestyle, the demand for market is on the rise in the region. Staying connected to the world while being off-grid, even in the remotest of places is necessary and this acts as a growth driver of this industry in this region. The German portable solar charger market held the largest market share in 2022.
Author Credits: Abhishek Verma, Hetal Singh
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?