Portable Solar Chargers Market Projected to Reach USD 703.4 million by 2030, at a 17.50% CAGR

Portable Solar Chargers Market Growth Boost by Increased Adoption of Portable and Smart Portable Solar Devices

New York, US, June 06, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), "Portable Solar Chargers Market Research Report Information by Component, Type, Region, and Application - Forecast Till 2030", the global Portable Solar Chargers market research predicts that the market is likely to bolster substantially during the review era from 2022 to 2032 at a substantial growth rate of around 17.50%. The reports further predict that the Portable Solar Chargers market size will be nearly USD 703.4 million by the end of 2030.

Portable Solar Chargers Industry Overview:

The global Portable Solar Chargers industry has lately demonstrated immense development. The huge number of EVs is the primary parameter causing a surge in the market performance.

Portable Solar Chargers Market Competitive Analysis

The listing of the prominent leaders across the global market for Portable Solar Chargers includes players such as:

X-DRAGON

Renogy, HQST (Canada)

Suntactics (US)

Goal Zero(US)

Instapark

Go Power (Canada)

Anker Innovations Limited (US)

Acopower (US)

EMPO-NI off-grid solutions (Germany)

Voltaic Systems (US)

IceTech

Powertraveller International Ltd (UK)

Among others.

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Portable Solar Chargers Market USP Covered

Market Drivers

The global Portable Solar Chargers industry has lately demonstrated immense development. The huge number of EVs is the primary parameter causing a surge in the market performance. Furthermore, factors such as the growing product visibility and increasing adoption of portable solar panels by the military and supportive government initiatives are also projected to impact the market performance over the assessment period positively.

Market Restraints

On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated.

Report Scope:

Report Metrics

Details

Market Size 2030

2030 : USD 703.4 million

CAGR during 2022-2030

17.50% CAGR

Base Year

2021

Forecast

2022-2030

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Component and Application

Key Market Opportunities

Adoption of electric hybrid vehicles in developing countries

Key Market Drivers

Increased adoption of portable and smart portable solar devices.

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Portable Solar Chargers Market COVID-19 Impact

The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Portable Solar Chargers market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.

Portable Solar Chargers Market Segment Analysis

Among all the products, the small portable solar charger segment is anticipated to ensure the leading position across the global market for portable solar chargers over the assessment period. The segment's growth is ascribed to factors such as increasing penetration of solar torches and mobile phone penetration in rural areas. On the other hand, the foldable portable solar charger segment will likely showcase the maximum growth rate over the review timeframe given to the factors such as easy to carry & lightweight, increasing use of off-grid solar power, and increasing use of electronic equipment in the defense sector.

Among all the application areas, the individual application segment is anticipated to ensure the leading position across the global market for portable solar chargers over the assessment period. The segment's growth is ascribed to the factors such as an increasing shift towards on-the-go environment-friendly products, growing awareness related to the depletion of energy resources, and popularity among hikers. On the other hand, the defense application segment is likely to showcase the maximum growth rate over the review timeframe given to the factors such as supportive government initiatives on increasing the use of solar power for large military buildings, changing climate, and a growing number of supportive government initiatives.

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Portable Solar Chargers Market Regional Analysis

The global market for Portable Solar Chargers is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.

The research reports by MRFR suggest that the Asia-Pacific region is anticipated to secure the top position across the global Portable Solar Chargers Market over the coming years. The region has China and India as the leading growth contributors. The huge number of EVs in China and India is the main parameter supporting the regional market expansion. Given the increase in purchasing power and huge population, these nations are the potential markets offering opportunities for EV hybrid battery manufacturers to set up their business in these countries. Moreover, the growing product visibility is also likely to boost the regional market's performance. In addition, the factors such as increasing the adoption of portable solar panels by the military and supportive government initiatives to provide energy access to people are also projected to impact the regional market performance over the coming years positively.

The Middle East and African regional market for Portable Solar Chargers are anticipated to secure the second position globally over the assessment period. The main parameter supporting the regional market expansion is the supportive initiatives to provide people with off-grid solar power. These bodies have offered subsidies for the solar lamp, lanterns, batteries, and torches. Furthermore, the growing penetration of mobile phones across the African region is also projected to catalyze the regional market's growth over the coming years.

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The North American regional market for Portable Solar Chargers will ensure considerable development over the review timeframe. The growing number of renewable energy projects is the main parameter supporting the regional market expansion.

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