In today’s fast moving world, people are adopting on-the-go friendly products and with growing awareness of depletion of energy sources, there is a hike in the demand for environment friendly based gadgets. Factors such as these are driving the manufacturers to come up with innovative solutions with efficient and affordable energy saving products. The growing trend of solar energy and its benefits have steered the demand for portable solar chargers among people. The rising sales of smartphones, tablets, cameras and other electronic gadgets combined with the inclination of consumers towards the clean energy are the major reasons which are creating huge opportunities for the portable solar charger players to introduce their products in the market which is further believed to supplement the growth of the global portable solar charger market with a CAGR of 13.2% over the period 2017-2023. Moreover, various government initiatives and rising consumer awareness is believed to supplement the growth of the global portable solar charger market to flourish its way up from USD 20,498.4 Million in 2016 to a significant market valuation of USD 47,913.3 Million by the end of 2023.
The global portable solar charger market is divided into product type and end-user, out of which, the product type is further segmented into solar trickle, clamshell, folding and backpack solar chargers. Among these segments, the clamshell solar charger segment held the dominant share in 2016 and is believed to remain highest in upcoming years. This can be attributed to the rising sales of electronic gadgets such as smartphones and cameras among others. The second largest shareholder in the market was the folding solar charger segment with 31.6% market share in 2016. Further, the folding charger segment is expected to achieve Y-O-Y growth rate of 14.3% in 2023 owing to the convenience while carrying them. Moreover, these chargers are ideal for charging multiple devices at a time.
Increasing Popularity of Efficient Energy Products to Escalate the Demand for Portable Solar Chargers in Future
The global portable solar charger market is thriving on the back of growing demand for portable, convenient and time saving power products around the globe.
Technology Development – The high adaptability and encouragement of new technologies in developed regions is penetrating the market for portable solar chargers.
Environment and Energy Saving Concerns – The consumer electronic industries are transitioning from non-renewable energy products to renewable energy products due to environmental concerns such as global warming and pollution.
Government Initiatives – Portable solar products are expected to witness growth owing to the various government initiatives combined with increasing consumer awareness regarding the use of solar power products.
Industry Players’ are Progressing towards Minimizing the Barriers faced by the Global Portable Solar ChargerMarket
According to Research Nester, the lack of awareness related to renewable resources in under-developed countries is envisioned to hinder the growth of the global portable solar charger market across the globe.
Lower Operating Capacity – The portable solar chargers have lower efficiency and limited operating capacity.
Lack of Solar Energy Policies – The lack of supportive solar energy policies and regulations in under-developed countries is believed to discourage the market growth.
The report titled “Global Portable Solar Charger Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016-2023″ delivers detailed overview of the global portable solar charger market in terms of market segmentation by the product type, end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global portable solar charger market which includes company profiling of Philips Electronics, Cobra Electronics, SolarTab, Poweradd, Solio, Solar Frontier, GoalZero, Anker, Suntrica and Empo-Ni.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global portable solar charger market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.