Portable Solar Charger Market Grows At 18% CAGR

Portable Solar Charger Market Grows At 18% CAGR

NEW YORK, US, July 26, 2022 (GLOBE NEWSWIRE) – According to a comprehensive research report by Market Research Future (MRFR), “Portable Solar Charger Market Analysis by Type (Mini Portable Charger, Portable Foldable Charger, Backpack Solar Chargers etc), Component (Solar Charge Controller, Inverter and Battery), Application and Region – Forecast to 2027 “Industry Records 18 percent CAGR % throughout the forecast period (2020-2027).

Portable Solar Charger Market Overview

The global portable solar charger market is expected to grow rapidly over the next few years. The growing adoption of portable and smart electronic devices is a major driving force.

The major players that dominate in the Portable Solar Charger Market are:

  • Target Zero (USA)
  • Rinnoji
  • HQST (Canada)
  • Go Power (Canada)
  • Voltage Systems (USA)
  • Acupower (USA)
  • EMPO-NI Off-grid Solutions (Germany)
  • Instapark
  • Suntactics (USA)
  • Anker Innovations Limited (USA)
  • X Dragon
  • IceTech
  • Powertraveller International Ltd (UK)

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Scope of the Portable Solar Charger Market Report:

Scale Reportdetails
Growth rate (2020 to 2027)18% compound annual growth rate
base year2019
prediction period2020-2027
Historical data2018

Portable solar panel chargers are a must for any tech-loving adventurer. Solar chargers come with different power outputs and are compatible with various rechargeable devices. Its lightweight and compact size makes it suitable for carrying everywhere with ease, and its features such as water resistance, dust protection and shockproof make it suitable for outdoor applications as well.

Portable solar panel chargers are recognizing a growing adoption among hikers, campers, and hikers who need power devices such as phones, cameras, or GPS trackers on the go. Also, solar panel chargers capable of powering high drain devices are widely used to power many devices and expandable solar power plants used by military personnel.

Portable Solar Charger Market Segments

The Portable Solar Charger market report is segmented into types, panels, components, applications, and regions. The type segment includes mini portable chargers, foldable portable chargers, backpack solar chargers, and others. Panel type section consists of monocrystalline, polycrystalline panels, amorphous solar panels, hybrid solar panels, and other solar panels.

The component part consists of solar panels, charge controllers, inverters, batteries, etc. The applications segment consists of individual consumers, defense, transportation, and others. The region’s segment consists of the Middle East, Africa, the Americas, Asia Pacific, Europe and the rest of the world.

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Portable Solar Charger Market Regional Analysis

The global portable solar charger market is dominated by the Asia Pacific region. Factors such as availability of ample renewable resources and cost-competitive labor force influence market growth positively. Besides, developments in charging technologies and devices used in various sectors present great opportunities for market players.

The massive increase in the production and sales of electronic devices in the region is boosting the region’s market shares. Moreover, increasing foreign direct investment (FDIs) and massive investment by key players in the region to develop advanced products is supporting the market size.

Europe is another lucrative market for portable solar chargers due to the presence of major players and well-developed infrastructure in this region. Additional factors affecting market returns are investments in research and development and a large user base in this region.

Moreover, collective efforts by environmentalists and governments to promote renewable energy sources and control rising levels of air pollution presents significant market opportunities. Increasing government initiatives, incentives, subsidies and schemes to encourage the manufacture and sale of portable solar chargers are also boosting the market value.

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Industry trends

Solar powered chargers can provide a stable source of power on and off the road. As a result, they are increasingly becoming a staple in every hiking backpack. These devices are exceptionally compact and lightweight and capable of collecting enough solar energy to recharge any compatible device. These chargers offer high performance with fast charging and can even power two devices simultaneously.

Some are even available with an onboard battery, which is charged by solar panels, allowing more feasibility for the user to charge and store energy when the charger is not connected to any device. This also allows charging of various electronic devices indoors or in cloudy environments.

Some portable solar chargers come with additional capabilities, such as load control and lighting, to essentially regulate power. The increasing use of portable solar chargers to charge smartphones, computers, tablets and other electronic devices is accelerating market demand. Increasing awareness on fossil fuel conservation and increasing demand for clean fuels boosts the portable solar charger market size.

Major solar charger manufacturers are developing portable solar chargers that are highly competitive and provide great efficiency to end users. They focus on product development as a key strategy to offer suitable portable solar chargers. It comes with two or more USB charging ports with smart charging technology optimized to suit the needs of different devices.

Other major growth drivers are the increasing shift towards renewable energy sources, along with supportive government policies and initiatives to enhance access to renewable energy. In addition, rapid technological progress and application of rechargeable products in various applications are boosting the demand for portable solar chargers. The increase in outdoor adventure activities all over the world is increasing the demand in the market.

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The portable solar charger market is witnessing significant strategic approaches, such as expansions, collaborations, mergers and acquisitions, and product launches. The leading market players are making huge strategic investments to drive research and development activities and expansion plans. This market is expected to see major product launches in 2021 and beyond.

For example, on May 24, 2022, Bluetti announced the launch of a new portable power plant – Bluetti EB3A, capable of meeting all energy / charging needs and reducing the time it takes to charge large batteries. Unlike its fuel-powered counterparts, the new power plant is quieter and safer to use indoors and is also better for the environment when used with solar panels.

In another case, recently, on July 07, 2021, Goal Zero, the leading provider of outdoor energy, portable small batteries and solar panels, launched a new solar panel – Nomad 20, suitable for applications, such as large portable power plants and solar power generators. It is a very portable solar panel and the best in the line of Goal Zero solar charger arrangement. The Goal Zero Nomad 20 can charge anything with USB and more and is ideal for camping, hiking and outdoor uses.

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