Portable Solar Panel Market Size, Share, and Trends 2024 to 2034

Portable Solar Panel Market Size and Forecast 2024 to 2034

The global portable solar panel market size is worth around USD 1.47 billion in 2024 and is anticipated to reach around USD 7.37 billion by 2034, growing at a CAGR of 17.5% over the forecast period 2024 to 2034. The portable solar panel market is observed to be driven by increasing concern about the depletion of fossil fuels and government support for the development of the products.

Portable Solar Panel Market Key Takeaways

• North America led the global market with the highest market share of 37% in 2023.
• Asia Pacific is observed to grow at the fastest rate during the forecast period.
• By cell type, the crystalline segment dominated the portable solar panel market in 2023.
• By cell type, an amorphous segment is expected to expand at the fastest CAGR over the projected period.
• By application, the leisure/recreational segment dominated the portable solar panel market in 2023.
• By application, the emergency power backup segment is anticipated to grow at a remarkable CAGR between 2024 and 2034.

U.S. Portable Solar Panel Market Size and Growth 2024 to 2034

The U.S. portable solar panel market size was estimated at USD 324.38 million in 2023 and is predicted to be worth around USD 1,953.45 million by 2034, at a CAGR of 17.7% from 2024 to 2034.

North America held the largest share of the portable solar panel market in 2023, driven by a growing emphasis on renewable energy, government incentives, and increased consumer awareness. The region's strong adoption of off-grid solar solutions for outdoor activities, emergency backup, and residential use contributed to the rise in demand for portable solar panels. Additionally, advancements in solar technology and the increasing integration of portable solar systems in military and disaster relief operations further bolstered the market's growth in North America during this period.

Asia Pacific is expected to witness the fastest rate of growth in the portable solar panel market during the forecast period. The growth of the market is owing to the rising government support that are taking initiatives for minimizing global warming by the use of fossil energy is accelerating the demand for recreational or renewable energy contributing to the growth of the market. Asia Pacific is home to several leading solar panel manufacturers, research institutions, and technology companies that drive innovation in solar energy technologies. Investments in research and development have resulted in advancements in solar panel efficiency, durability, and portability, making portable solar panels more attractive and accessible to consumers.

Countries like India, and China are seeing the highest rate of pollution and excessive consumption of fossil energy for electricity production which creates a higher demand for alternative forms of energy. The governments of these countries are initiating major steps for the production of electricity by renewable energy resources like solar energy which is also contributing to the higher demand for the portable solar panel market in the region.

Market Overview

The global portable solar panel market offers small solar panels that can be taken anywhere and installed quickly. They convert sunlight into heat or power, much like a regular solar panel. They have a group of solar cells integrated into them. Every panel is separated into smaller units called cells. A silicon-thin layer makes up each cell. Due to this, there is a greater need for portable electronics like cameras, tablets, cell phones, and other solar-powered gadgets. Innovation in portable solar charging technologies is fueled by consumer electronics that run on solar electricity.

The primary objective of manufacturers is to enhance the power and efficiency of portable solar panels while integrating functionalities like wireless charging, USB ports, and integrated batteries. The rise of this industry has been attributed to government programs aimed at expanding off-grid energy availability, rising adoption of wireless and portable energy-efficient gadgets, and mounting worries about the depletion of fossil fuels and other energy sources.

Portable Solar Panel Market Growth Factors

• The portable solar panel market is anticipated to grow in response to rising investment in solar-powered consumer devices and growing knowledge of solar energy's advantages.
• The primary goal of manufacturers is to enhance the power and efficiency of portable solar panels while integrating functionalities like wireless charging, USB ports, and integrated batteries. These developments increase the portability and usability of portable solar chargers, increasing market appeal.
• Growing expenditures in solar consumer electronics, the growing popularity of flexible/thin film electronics, the shift to electric or hybrid automobiles, and numerous other factors are predicted to fuel the need for portable solar panels.
• Growing concerns over the depletion of fossil fuels, government initiatives for renewable energy access, and an increase in the use of wireless and portable energy-efficient gadgets have all contributed to the market's expansion.

Market Scope

Market Dynamics

Driver

Rising demand for sustainable energy sources

Growing awareness of climate change and environmental degradation has led to increased emphasis on reducing carbon emissions and transitioning to renewable energy sources. Portable solar panels harness energy from the sun, a clean and abundant source of renewable energy, thereby helping to mitigate environmental impacts associated with traditional fossil fuels. Portable solar panels are ideal for off-grid applications and remote locations where access to electricity is limited or unavailable. They enable individuals and organizations to power essential devices, equipment, and appliances in remote areas such as camping sites, recreational vehicles, boats, expeditions, and disaster relief operations, enhancing mobility, convenience, and safety.

Restraint

Waste management

Portable solar panels have a finite lifespan and eventually reach the end of their operational efficiency. Disposing of these panels can be challenging due to their complex composition, which often includes materials such as glass, aluminum, silicon, and various polymers. Improper disposal can lead to environmental pollution and hazardous waste accumulation, posing risks to ecosystems and human health.

Many countries have strict regulations governing the disposal of electronic waste, including solar panels. Manufacturers and users of portable solar panels are required to adhere to these regulations, which often involve proper recycling, reuse, or disposal procedures to minimize environmental impact. Compliance with waste management regulations adds complexity and costs to the lifecycle management of portable solar panels. Thereby, the waste management factor acts as a restraint for the portable solar panel market.

Opportunity

Rising government initiatives across the globe

The increasing investments and government support for renewable energy storage and development are boosting the growth of the portable solar panel market. Many governments worldwide have set ambitious renewable energy targets to reduce greenhouse gas emissions and combat climate change. These targets often include increasing the share of renewable energy in the overall energy mix. Portable solar panels, being a clean and sustainable energy source, align with these objectives and are supported by government incentives and subsidies.

In regions where access to electricity is limited or unreliable, governments are implementing energy access programs to provide clean and affordable energy solutions to remote and underserved communities. Portable solar panels offer a practical and scalable solution for decentralized electrification, enabling individuals and communities to generate their own electricity for lighting, charging electronic devices, and powering small appliances. Thereby, the government initiatives in such areas create a significant opportunity for the portable solar panel market.

Cell Type Insights

The crystalline segment dominated the portable solar panel market in 2023. Crystalline solar panels are made with silicon crystals which are specifically made to absorb sunlight. The crystalline solar panel is made for the efficient conversion of sunlight into electricity as the traditional solar panel. Crystalline silicon solar panels are known for their durability and longevity, with a typical lifespan of 25 years or more. These panels are constructed using high-quality materials and robust manufacturing processes, ensuring resistance to environmental factors such as moisture, temperature fluctuations, and mechanical stress. As a result, crystalline solar panels are well-suited for portable applications that require reliable performance and durability in challenging outdoor conditions.

An amorphous segment is expected to witness a significant rate of growth during the forecast period. Amorphous solar cells offer flexibility and lightweight characteristics compared to traditional crystalline silicon cells. This makes them ideal for portable applications where weight and space are critical factors, such as camping, hiking, boating, and outdoor recreational activities. Portable solar panels equipped with amorphous silicon cells are designed for on-the-go use, offering convenient portability and versatility. They can be easily folded, rolled, or carried in backpacks, luggage, or vehicles, allowing users to harness solar energy wherever they go, whether camping in the wilderness or traveling off-grid.

Amorphous silicon solar panels are typically more cost-effective and affordable compared to crystalline silicon panels, making them accessible to a broader range of consumers, including budget-conscious travelers, outdoor enthusiasts, and adventurers. Their competitive pricing and attractive features make them an attractive choice for portable solar applications.

Applications Insights

The leisure/recreational segment dominated the portable solar panel market in 2023. Portable solar panels are popular among outdoor enthusiasts and adventurers engaged in recreational activities such as camping, hiking, backpacking, boating, RVing, and fishing. These individuals rely on portable solar panels to harness solar energy and power essential electronic devices, lighting, communication equipment, refrigeration, and other amenities while off the grid or in remote locations. The leisure/recreational segment represents a growing market for off-grid power solutions, driven by the desire for independence, self-sufficiency, and eco-friendly alternatives to traditional energy sources.

The emergency power backup segment is expected to grow at a significant rate during the forecast period. With the increasing frequency and intensity of extreme weather events, natural disasters, and public emergencies, there is growing awareness of the importance of emergency preparedness and resilience. Portable solar panels provide individuals, businesses, and communities with a proactive approach to disaster preparedness, ensuring they have access to a reliable and sustainable power source during emergencies, blackouts, or grid failures.

Ongoing advancements in solar panel technology, energy storage solutions, and integrated power management systems have enhanced the performance, efficiency, and reliability of portable solar panels. Innovations such as lightweight, flexible, and durable solar panels, high-capacity lithium-ion batteries, and smart charging controllers have made portable solar power systems more user-friendly, efficient, and effective for emergency backup applications.

Portable Solar Panel Market Companies

• Tata Power
• PowerFilm Solar, Inc.
• EcoFlow
• Innotech Enterprise LLC
• ACOPOWER Bluetti Power
• Jinko Solar
• Jackery Inc.
• Shenzhen Ouliyang Technology Co., Ltd
• REDARC

Recent Developments

• In February 2024, BLUETTI, a leading company that works in the manufacturing of the portable power station world, launched two revolutionary products AC200L and AC2A. The AC200L has a hefty 2,048 Wh Lithium Iron Phosphate (LiFePOâ‚„) battery which is longer and safer in use it lasts almost 10 years with over 3000 life cycles.
• In February 2024, Sungold Solar, a Shenzhen, China-based organization launched cutting-edge solar panels designed especially for RV- the Hi-Power Series of portable solar kits and the TF Series of flexible solar panels.
• In March 2023, FLEXSOLAR, introduces the A60 and A60 pro at Kickstarter. The launch is designed to offer efficient and reliable on-the-go power, the launch fulfilling the requirement for a compact and ultralight solar panel for outdoor activities, travel, etc. It is waterproof and durable and designed to work also in the event of unexpected rains.

Segments Covered in the Report

By Cell Type

• Crystalline
• Amorphous

By Application

• Leisure/Recreational
• Emergency Power Backup

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa