September 2024
The global portable solar charger market size was USD 3.52 billion in 2023, estimated at USD 4.02 billion in 2024 and is anticipated to reach around USD 14.70 billion by 2034, expanding at a CAGR of 13.84% from 2024 to 2034.
The global portable solar charger market size accounted for USD 4.02 billion in 2024 and is predicted to reach around USD 14.70 billion by 2034, growing at a CAGR of 13.84% from 2024 to 2034.
In this fast-paced mobile world, power has become a necessity. Nowadays, mobile phones are treated as lifelines and assist in keeping connected to the world. To keep this lifeline functional power is required. Traveling in remote or rural locations where there is no electricity or during times of power cuts enhances the need for a handy portable solar mobile charger. Solar energy sources are abundant and all around us. A portable solar charger uses solar energy to supply electricity to devices or batteries. This device uses small solar panels to provide energy.
A portable solar charger is widely used to power various electronics using solar energy. Solar chargers are generally made up of solar panels and thin films that assist in converting sunlight into electricity to be used for electronic devices. These devices are lightweight and are easy to use and convenient to carry almost anywhere. However, a portable solar charger is considered the desired option and proves to be an eco-friendly solution in daily life.
Report Coverage | Details |
Growth Rate from 2024 to 2034 | CAGR of 13.84% |
Portable Solar Charger Market Size in 2023 | USD 3.52 Billion |
Portable Solar Charger Market Size in 2024 | USD 4.02 Billion |
Portable Solar Charger Market Size by 2034 | USD 14.70 Billion |
Largest Market | Asia Pacific |
Base Year | 2023 |
Forecast Period | 2024 to 2034 |
Segments Covered | Product, Application, Panel Type, and Region |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Increasing adoption of flexible solar charger
The increasing use of portable solar chargers is anticipated to contribute significantly to the growth of the global portable solar charger market. Solar energy is a sustainable and clean energy source for the production of electricity. Solar energy is obtained from natural sources and is abundant in nature which produces far lower emissions than burning fossil fuels. A portable solar charger uses solar panels to convert sunlight into electricity and it is designed to power various electronic devices including tablets, smartphones, cameras, and more. A portable solar charger can be easily charged by keeping it in the sun. Portable solar chargers are compact, convenient to use, and eco-friendly options. Therefore, the substantial expansion of the portable solar charger market is majorly driven by the increasing use of electronic devices.
Lack of awareness and availability
The lack of awareness is anticipated to hamper the portable solar charger market's growth rate during the forecast period. Many individuals are unaware of the benefits associated with the portable solar charger which affects the sales of these devices adversely. Additionally, the low availability of portable solar chargers in underdeveloped countries may restrict the expansion of the portable solar charger market.
Rising participation in outdoor activities
The increasing participation in outdoor activities is projected to fuel the market expansion for the portable solar charger market. The portable solar charger is widely used by adventurers, who are mostly engaged in outdoor activities. The consumer preferred spending on low-cost solutions such as portable solar chargers instead of high-priced battery packs. Portable solar chargers are increasingly becoming popular among adventure and sportsmen seeking off-grid options. Adventurers use portable solar chargers for their lightweight and compact size making them suitable for outdoor applications and their attractive features are gaining significant attention such as water resistance, shock proofing, and dust protection.
While traveling, commuting, and enjoying outdoor activities, portable solar chargers can be easily charged in any location with sunlight. A portable solar charger offers a flexible and convenient solution to refuel devices. Additionally, the market has witnessed the rising use of off-grid energy resources to boost the overall functionality of rural areas. Thus, the increasing participation in outdoor activities including hiking, camping, or trekking increases the demand for portable solar chargers.
The small portable segment accounted for the dominating share in the portable solar charger market in 2023. The growth of the segment is mainly attributed to the increasing use of solar torches, solar lamps, lanterns, and batteries. A small portable solar charger is extensively used by hikers, campers, and trekkers to power electronic devices such as cameras, phones, GPS trackers, and others. Additionally, the rapid penetration of mobile phones around the world is driving the segment’s growth. The convenience offered by small-sized portable solar chargers creates a significant potential factor for the segment to grow.
The foldable segment is expected to witness a significant share during the forecast period. The foldable portable solar chargers are lightweight and easy to carry which makes them popular among military personnel and individual users. In addition, the rising use of electronic devices in the defense sector is likely to spur the demand for a foldable solar charger in the coming years. Foldable solar chargers come in different shapes. Whereas the single-fold design is popular among consumers as it makes it faster and convenient to pack.
The individual segment held the largest share of the portable solar charger market in 2023, the individual segment is expected to sustain the position throughout the forecast period. A portable solar charger fits accurately for the needs of people who are always on the go. Nowadays, people are increasingly shifting towards environment-friendly products due to their cost-effectiveness and increasing benefits associated with solar energy. The increasing use of portable solar chargers among mountaineers, hikers, and bikers to charge their electronic devices promotes the segment’s expansion. The rise in the number of bikers is also observed to support the segment’s growth. These chargers do not emit any poisonous compounds into the environment because and are easily powered by the sun. On the other hand, the defense segment is expected to grow significantly during the forecast period. The segment’s growth is majorly driven by the increasing use of portable solar chargers by military personnel wherever they go. A portable solar charger is capable of powering various electronic devices which boosts the segment’s growth during the forecast period.
The monocrystalline segment accounted for the dominating and fastest-growing segment in 2023 and is also projected to continue its dominance over the forecast period. The increasing adoption of monocrystalline solar panels by portable solar charger manufacturers owing to their low cost with improved efficiency. Monocrystalline solar panels are generally made from single-crystal silicon which makes them highly efficient and provides a higher power output per square meter than polycrystalline solar panels. These solar panels are more cost-effective to manufacture which makes them a budget-friendly option for portable solar chargers. These chargers are ideal for outdoor activities where space constraints are less critical.
Asia Pacific dominated the portable solar charger market in 2023 and the region is observed to sustain the position in the portable solar charger market during the forecast period. The region’s growth is attributed to the rising demand for electricity, the presence of prominent market players, rapid urbanization, growing adoption of eco-friendly products, rising awareness regarding the depletion of energy resources, increasing dependency on renewable energy sources, and rising demand for a compact portable solar charger. Additionally, the increasing investment in the development of technology that uses solar energy to charge various electronics coupled with the rising use of smartphones, tablets, solar lamps, and other portable electronic devices.
Countries in the region such as India, China, and Japan are the major contributors to the portable solar charger market due to supportive government initiatives and increasing investment in solar energy products. The increasing use of mobile phones in rural and remote areas globally is expected to generate revenue for portable solar charger businesses during the forecast period. The government of the Asia Pacific region is coming up with various initiatives to produce renewable energy sources and is expected to increase the demand for portable solar chargers.
With an installed power capacity of 416.59 GW as of April 30, 2023, India is the third-largest producer and consumer of electricity globally, according to a report released by the India Brand Equity Foundation. India is seeing an increase in electrification through a number of programs, including the Integrated Power Development Scheme (IPDS), the Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY), and the Ujwal DISCOM Assurance Yojana (UDAY).
Tthe Middle East and Africa region is anticipated to grow notably in the market during the forecast period owing to the increasing demand for electricity in the region. Several government organizations have undertaken supportive initiatives to provide people with off-grid solar power systems this supports the overall growth of the market. Moreover, the increasing penetration of mobile phones, solar lamps, torches, lanterns, and batteries is anticipated to boost the market demand for a solar portable charger.
Segments Covered in the Report
By Product
By Application
By Panel Type
By Geography
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