Portable Solar Charger Market Worth $1.7 Billion by 2025 | CAGR 21.3%: Grand View Research, Inc.
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Read 80 page research report with TOC on "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" at: https://www.grandviewresearch.com/industry-analysis/portable-solar-charger-market
Small portable solar charger held a leading market share in 2018. The foldable segment is anticipated to expand at the fastest CAGR of 22.0% over the forecast period. The U.S. military is increasingly shifting towards renewable energy resources in order to reduce its dependency on oil energy, which is expected to increase adoption of solar panel and chargers in upcoming years. Moreover, increasing use of various electronic surveillance equipment by military is expected to boost demand for the foldable solar chargers over the forecast period.
The individual segment held a leading share of 69.5% in 2018. Increasing participation in outdoor activities such as hiking, biking, and mountaineering, especially in developed countries, is expected to provide growth opportunity for these types of chargers. 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. In addition, many bike manufacturers are hosting tours internationally to promote their brands.
Asia Pacific emerged as the largest regional market in 2018 on account of growing product visibility, especially in India, Bangladesh, and Indonesia. Moreover, government organizations including the World Bank, International Finance Corporation, and Global Off-Grid Association have undertaken supportive initiatives to increase energy access to remote areas and villages with off-grid solar power. North America is anticipated to expand at a CAGR of 20.9% from 2019 to 2025. This growth is attributed to increasing product penetration, coupled with rising popularity of adventurous outdoor activities on account of increasing awareness related to maintaining a healthy life.
Grand View Research has segmented the global portable solar charger market by product, application, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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