The global portable solar charger market is anticipated to experience a remarkable 14.1% compound annual growth rate (CAGR) from 2023 to 2033, projecting a market size of US$ 13.1 billion by the conclusion of the study period. Presently, the North American region holds approximately 30% of the market share in portable solar charger sales.
Product innovation is poised to play a pivotal role in shaping the trajectory of portable solar charger businesses in the coming years. Despite being a relatively nascent technology, portable solar chargers remain costly for a significant portion of the population. Consequently, companies are prioritizing the development of affordable options to broaden their consumer base and enhance revenue prospects.
In July 2022, Levante, an Italian start-up renowned for its origami solar panels, partnered with Advanced Composites Solutions, a specialist in composite material component manufacturing and design, to introduce a novel portable solar panel crafted from reclaimed carbon fiber waste. This collaboration aimed to reduce manufacturing costs, consequently lowering the overall product expenses and facilitating the creation of more affordable solar panels.
Further insights and developments concerning both established players and emerging contenders in the portable solar charger market are elaborated upon in a comprehensive market research analysis conducted by Fact.MR, a prominent provider of market research and competitive intelligence.
Key Takeaways from Market Study
· The global portable solar charger market stands at a valuation of US$ 3.5 billion.
· Demand for portable solar chargers is projected to rise at a phenomenal CAGR of 14.1% from 2023 to 2033.
· The global market is anticipated to reach a value of US$ 13.1 billion by the end of 2033.
· High focus on sustainability, growing number of people getting involved in outdoor activities, evolving consumer preferences, advancements in solar panel technology, and increasing availability of novel portable solar chargers are prime market drivers.
· High cost of portable solar chargers is projected to be a major restraint for overall market development over the next ten years.
· At present, sales of portable solar chargers in North America account for around 30% share of the global marketplace.
· Around 70% of portable solar chargers use monocrystalline panels.
“Incorporation of advanced panel technologies will spell success for established as well incoming portable solar charger manufacturers going forward,” says a Fact.MR analyst
Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 13.1 Billion |
| Growth Rate (2023-2033) | 14.1% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
Key Companies Profiled in This Report
· Suntactics
· Jackery Inc.
· Goal Zero LLC
· Instapark
· Zamp Solar
· Voltaic Systems
· Powertraveller International Ltd.
· GigaWatt Inc.
· Gomadic Corporation
· Renogy LLC
Winning Strategy
Portable solar charger manufacturers are focusing on launching new products that have larger capacities and are capable of powering more devices and running for longer periods on a single charge. Companies are also trying to educate more people about the benefits of using a solar charger instead a conventional battery pack to boost their sales and revenue generation potential over the study period.