DUBLIN, Feb. 8, 2024 /PRNewswire/ — The “Portable Solar Charger Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global portable solar charger market is estimated to grow at a CAGR of 16.45% during the forecast period.
A portable solar charger is a device that converts solar energy into electrical energy, which can be used to charge electronic devices such as smartphones, tablets, and laptops.
These chargers typically consist of a solar panel, a battery, and one or more USB ports for charging devices. Portable solar chargers are convenient for outdoor activities such as camping, hiking, and traveling, where access to electrical outlets may be limited. They can also be useful in emergencies, such as power outages. The different portable solar chargers include panel-only chargers, panels with integrated battery chargers, and panels with detached battery chargers.
The growing outdoor activities such as hiking, camping, and traveling are major driving factors for the market growth. In contrast, the surge in the need for power in areas where electrical outlets are not readily available, coupled with the convenience, sustainability, and environmental benefits, are acting as additional driving factors.
The surge in traveling, camping, and hiking activities is boosting the portable solar charger market.
Traveling, camping, and hiking activities have become increasingly popular in recent years, with more people seeking outdoor adventures and the opportunity to disconnect from the digital world. There has been a growing demand for portable solar chargers as individuals look for ways to power their electronic devices while on the go.
Many travelers are looking for ways to reduce their environmental impact while exploring new places, and portable solar chargers provide a convenient and sustainable way to keep electronic devices charged without relying on traditional power sources. In addition, the rise of remote work and digital nomadism has created a demand for portable solar chargers as individuals look for ways to stay connected while working remotely from outdoor locations.
The growing popularity of outdoor activities like hiking, camping, and sustainable traveling is boosting the demand for portable solar chargers. According to the World Travel and Tourism Council (WTTC), in 2022, 7.6% of the world’s GDP came from the travel and tourism industry, a growth of 22% from 2021, and expenditure by domestic visitors climbed by 20.4%, while expenditure by foreign visitors increased by 81.9%.
According to the India Brand Equity Foundation (IBEF), in 2021, the travel and tourism sector contributed US$ 178 billion to the GDP of India, and by 2028, this is anticipated to rise to US$ 512 billion. According to the Outdoor Industry Association (OIA), in 2020, 57.8 million Americans aged six and over participated in hiking, an increase from 49.6 million in 2019. This illustrates portable solar chargers hold a great demand in the future.
North America is expected to hold a significant market share throughout the forecast period.
The North American region will account for a major market share due to the growing interest in outdoor activities such as camping, hiking, and traveling, investment in clean energy solutions, growing sustainable tourism, and technological innovation. In 2019, the Mexican government introduced the National Development Plan 2019-24 to promote the balanced development of tourist destinations by developing new tourism development projects and forming tourist attraction clusters.
It sanctioned an amount of MXN 885 million for the Ministry of Tourism. In 2020, the government of Canada’s arm, Parks Canada, started taking reservations for camping in Banff National Park as national parks are great summertime attractions. Such developments will boost the demand for portable solar chargers for charging electronic devices during outdoor activities, propelling regional market growth.
Company Profiles
Flexsolar
GoSun
Powertraveller International Ltd.
Sunslice
Suntactics
Market Segmentation:
By Type
Panel-Only Charger
Panel With Integrated Battery Charger
Panel With Detached Battery Charger
By Panel Type
Monocrystalline
Polycrystalline
By Application
Traveling
Camping & Hiking
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
Japan
India
South Korea
Others
For more information about this report visit https://www.researchandmarkets.com/r/e0y9bs
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SOURCE Research and Markets