Portable solar charger Market size: 2021 Analysis, Future Plans, Growth Prospects Predicted by 2025
Market Synopsis
As per the research by Market Research Future
Reports (MRFR), the global portable solar charger market is estimated to value
USD 430.35 million by 2025 with a rising CAGR of 19.25% from 2019 to 2025.
The most important growth factors of the global
portable solar charger market 2020 comprise of increase in the adoption of
smart and portable solar equipment. The global portable solar charger market is
estimated to expand at a fast pace during the review period. Due to the
increasing impression of automobiles on the environment, the monitor of air
quality index must be implemented. The adoption of electric hybrid vehicles in
developing nations would pose an opportunity for the global portable solar
charger market players. However, the high price of hybrid EV batteries is one
of the constraints that may obstruct the expansion of the global hybrid EV
market.
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The solo chargers that are being manufactured are
highly competitive and give efficiency to the end-users. The development of new
products and innovation is the most important strategy to provide suitable
portable solar chargers.
Market Segmentation
The global portable solar charger market has been
classified on the basis of application, type, and region.
On the basis of application, the market is
segmented as battery electric vehicles, plug-in hybrid EV, and hybrid electric
vehicles. The hybrid electric vehicles sector is expected to expand with the
maximum CAGR during the review period since the hybrid batteries are most
suitable with hybrid electric vehicles, making the overall performance better.
On the basis of type, the global portable solar
charger market is divided into nickel-metal hydride, lithium-ion, lead-acid,
and others. The lithium-ion battery vertical is likely to reign the market at a
global level due to its high-temperature performance and high energy
efficiency.
On the basis of region, the global portable
solar charger market size is divided into Europe, Asia Pacific, South
America, and the Middle East and Africa. The APAC region acquires the maximum
portable solar charger market share owing to the large presence of EVs in India
and China. These nations are the potential markets offering opportunities for
EV hybrid battery manufacturers are to establish their business in these
nations due to the rising purchasing power and the increasing population.
Regional Analysis
On the basis of region, the global market for the
portable solar charger is divided into Asia Pacific, North America, Europe, the
Middle East and Africa, and South America.
The APAC is one of the established markets for the
portable solar charger in the world. The rising demand for alternative sources
of energy due to the rising population and increasing disposable income have a
substantial role to play in the expansion of the market. Additionally, the
climatic condition in India and China and other nations receive more than 290
days of sunlight, which is compatible with the solar charging devices.
Therefore, the demand for the portable solar charger is expanding in India and
China.
North America is likely to experience the maximum
expansion in the portable solar charger market during the review period due to
growing demands for environment-friendly charging devices. The growth can be
accredited to the increased demands for foldable solar chargers, rise in use of
several electronic surveillance equipments in the military sector, and the
presence of established players play a very important role in expanding the
market in the region. In the North American market, the US is likely to seize
the largest market share and is expected to acquire the highest CAGR from 2019
to 2025 owing to the rising outdoor activities. The US is anticipated to be the
most developed market during the forecast period.
In Europe, Germany is the fastest growing market in
the portable solar charger market, whereas the UK, Italy, France, Belgium,
Spain, and the Netherlands are the other important countries to participate in
the expansion of the market.
The MEA market, Saudi Arabia is the largest market
for a portable solar charger. Iran and South and East America is expanding at a
high rate and have a significant contribution to the expansion of the
market.
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Key Players
The most important players of the global portable
solar charger are HQST (Canada), Renogy, Goal Zero (US), Acopower (US), Go
Power (Canada), Voltaic Systems (US), Anker Innovations Limited (US), EMPO-NI
off-grid solutions (Germany), Instapark, Suntactics (US), Powertraveller
International Ltd (UK), X-DRAGON, and IceTech.
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