Solar battery charger: Key market research findings
- Untapped market opportunities for market vendors
- Advances in technology
Technavio has released a new market research report on the global solar battery charger market, which is expected to grow at a CAGR of 14% between 2016 and 2020. Solar battery chargers can be used to charge electronic devices such as tablets, phones, and laptops when there is power shortage or emergency. Solar chargers are gaining popularity because they are environmentally friendly and reduce the load on the main power supply. The Americas lead the global market for solar battery chargers, accounting for 53% of the total market share. Rising price of electricity in the region has propelled the use of solar chargers.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Germany, China, Japan, the US, and Spain are the major solar power consuming nations while India, South Korea, and Australia are the key investors in the solar industry. China has emerged as the manufacturing hub for photovoltaic (PV), owing to the presence of several big PV manufacturing companies in the region. Vendors are also exploring other untapped markets in Africa and Middle East due the huge market potential of the solar battery charger market in the coming years,” says Vishu R., Lead Analyst, Energy, Technavio Research
The manufacturers are focusing on the development of in charge controllers quality, value-added features, and designs (ultra-thin panels) of solar battery chargers. These developments will result in the reduction of operating cost, and will help the solar chargers to deliver better quality and cleaner battery power. Moreover, these technological advancements is expected to make the chargers durable, expandable, and lightweight in the coming years.
The leading vendors in the global solar battery charger market are Anker, Cobra, Goal Zero, Poweradd, and Solio. The market is in the nascent stage, hence has few international and regional vendors. Intense competition prevails in this market, where the key players are offering solar battery chargers for various applications like individual, transportation, and military. Rise in the use of electronic devices and the increase in awareness about solar power among the users will propel growth of this market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Solar Battery Charger Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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