Portable Solar Charger Market Size, Share & Trends Analysis Report By Product (Small Portable, Foldable, Backpack), By Application (Individual, Defense), By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global portable solar charger market size was valued at USD 433.8 million in 2018. Supportive initiatives by the organizations including International Finance Corporation, Global Off-Grid Association, and World Bank on increasing energy access to the people not connected to the electric grid is the main factors driving the market for a portable solar charger.

Also, increasing adoption of environment-friendly products, especially in developed countries such as U.S. and Germany as a result of growing awareness related to the depletion of energy resources is expected to fuel demand for environment-friendly products including portable solar chargers over the forecast period. Increasing penetration of smartphones, tablets, and portable electronic devices, coupled with shifting consumer inclination towards sustainable energy resources, is expected to create huge opportunities for portable solar chargers over the forecast period.

Increasing participation in outdoor activities such as hiking, Cross Country Running, and Camping owing to rising awareness about maintaining a healthy lifestyle is expected to boost the portable solar charger market growth. For instance, according to The Outdoor Foundation, hiking is the fourth popular sport in the U.S., followed by biking, running, and fishing. As per the report, 44.9 million people participated in hiking in 2017.

Increasing the use of off-grid energy resources to improve the overall functionality of rural areas in India and Africa is expected to fuel the use of portable solar chargers over the forecast period. According to the statistics, at least 110 million people live without access to grid electricity in urban areas of Africa. Supportive government initiatives, coupled with increasing penetration of solar lanterns and other products such as batteries, especially in Africa, are expected to fuel the adoption of these portable chargers over the forecast period.

Product Insights

A small portable solar charger held a leading market share in 2018. Surging the adoption of these chargers on account of increasing penetration of solar torch, batteries, and other appliances, especially in India and Africa, is the main factor driving the market for these chargers. Moreover, increasing penetration of mobile phones in rural areas across the world is expected to provide growth opportunities for these types in upcoming years.

The foldable portable solar charger is anticipated to expand at the fastest CAGR of 22.0% over the forecast period. These types of chargers are easy to carry and light in weight owing to which they are gaining immense popularity among military and individual users. Besides, the governments of the U.S. and India are expected to increase the use of off-grid solar power to provide access to electricity for outdoor troops. Moreover, increasing the use of electronic equipment in the defense sector is expected to boost demand for a foldable solar charger.

Application Insights

The individual application segment held a leading share of 69.5% in 2018. In the present day, people are increasingly shifting towards the on-the-go environment-friendly products, including solar chargers, owing to growing awareness related to the depletion of energy resources. As a result, these portable solar chargers are increasingly gaining popularity among hikers, mountaineers, and bikers to charge their mobile phones, tablets, and GoPro cameras. The biking trips are picking up pace in India.

The number of bikers traveling globally is continuously increasing to cement their love for riding. This trend has encouraged many tour organizers to roll out riding tours outside India. Also, many bike manufacturers are hosting tours internationally to promote their brands. Furthermore, outdoor activities such as hiking and mountaineering are continuously increasing, especially in the U.S. and Europe. To fulfill the energy requirement, companies have introduced a solar backpack, which is equipped with a solar charger. Such trends are expected to promote the adoption of these solar portable chargers over the forecast period.

The defense application segment is anticipated to expand at the fastest CAGR of 21.8% from 2019 to 2025. This segment growth is attributed to supportive government initiatives on increasing the use of solar power for large military building and remotely located troops and equipment. Furthermore, owing to the changing climate, the U.S. military is shifting towards renewable energy sources including solar energy. For instance, in 2012, the Marine Corps’ Renewable Sustainable Expeditionary Power program announced an initiative to develop a portable alternative energy system that can ensure a 15-day supply of electricity in the field without the need for any fuel convoys or airdrops. Furthermore, the U.S. is shifting towards renewable energy sources to reduce its dependency on foreign oil. Such initiatives are expected to boost the adoption of these solar chargers over the forecast period.

Regional Insights

The Asia Pacific emerged as the largest regional market in 2018 on account of growing product visibility, especially in India, Bangladesh, and Indonesia. In 2018, India held a leading share in the regional market due to supportive government initiatives to provide energy access to people not connected to the electric grid. Also, increasing the adoption of a portable solar panel by the military to provide electricity access at remote locations is expected to provide growth opportunities for these portable chargers over the forecast period.

The Middle East and Africa are anticipated to expand at the fastest CAGR of 23.3% from 2019 to 2025. Various government organizations including the World Bank, International Finance Corporation, and Global Off-Grid Association have undertaken supportive initiatives to provide people with off-grid solar power. Since 2010, the global off-grid solar sector sold around 130 million devices. The organizations have given subsidies on the solar lamp, torch, batteries, and lanterns. Also, mobile phones are penetrating the African market at a significant rate, which is expected to drive the market for a solar portable charger.

Portable Solar Charger Market Share Insights

The global market is highly competitive. The market is identified by several strategic activities such as expansions, mergers and acquisitions, and product innovations, attempted by key manufacturers in the industry. For instance, in August 2014, NRG acquired Goal Zero to expand its share in the global market. Some of the prominent players in the market are Goal Zero, Voltaic Systems Systems, EMPO-NI off-grid solutions, Anker Innovations Limited, Instapark, Suntactics, X-DRAGON, Renogy, Powertraveller International Ltd., and IceTech, USA.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global portable solar charger market report on the basis product, application, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)

  • Small Portable

  • Foldable

  • Backpack

• Application Outlook (Revenue, USD Million, 2015 - 2025)

  • Individual

  • Defense

• Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa