Global Portable Solar Charger 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.
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.
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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 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.
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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