Portable Solar Charger Market Size, Share, and Trends 2024 to 2033

Portable Solar Charger Market Size and Growth 2024 to 2033

The global portable solar charger market size was valued at USD 3.52 billion in 2023 and is anticipated to reach around USD 13.20 billion by 2033, growing at a CAGR of 14.13% from 2024 to 2033.

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Portable Solar Charger Market Key Takeaways

• Asia Pacific dominated the market in 2023 and is observed to sustain the dominance in the portable solar charger market during the forecast period.
• The Middle East and Africa region is anticipated to grow notably in the market during the forecast period.
• By product, the small portable segment accounted for the dominating share in 2023.
• By product, the foldable segment is expected to witness a significant share during the forecast period.
• By application, the individual segment held the largest segment of the portable solar charger market in 2023.
• By application, the defense segment is expected to grow significantly during the forecast period.
• By panel type, the monocrystalline segment accounted for the dominating share in 2023.

Portable Solar Charger Market Overview

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.

Portable Solar Charger Market Growth Factors

• The increasing use of mobile phones, cameras, phones, GPS trackers, and lamps serves as a major growth driver for the portable solar charger market during the forecast period. The use of portable solar chargers facilitates users to store solar energy and reduce dependency on electrical outlets for charging electronic devices.
• The increasing number of people opting for outdoor and adventure activities using solar energy sources as sustainable and clean energy sources to power various electronic devices is expected to fuel the market’s expansion rate during the forecast period.
• The growing awareness regarding the benefit of solar energy sources to meet the electricity demand across the globe in the coming years. Prominent players are coming up with smart products that use renewable energy sources. Electricity obtained from solar energy has the potential to improve energy security and partially fulfil global electricity demand.
• The increasing penetration of environment-friendly products in developed and developing nations countries along with shifting consumer inclination towards compact and lightweight portable products is projected to create lucrative opportunities for the portable solar charger market’s growth.
• Several supportive government initiatives and favorable policies promoting the use of portable solar chargers and is anticipated to accelerate the market’s revenue during the forecast period.

Portable Solar Charger Market Scope

Portable Solar Charger Market Dynamics

Driver: 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.

• According to the IEA 2023, renewable electricity capacity additions reached an estimated 507 GW in 2023, almost 50% higher than in 2022, with continuous policy support in more than 130 countries spurring a significant change in the global growth trend.
• In October 2023, Ryobi, a Japanese provider of electric power tools, launched a 60 W foldable solar panel. The lightweight mobile device is USB-A, USB-C, and barrel cord compatible for versatile charging.

Restraint: 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.

Opportunity: 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.

• In June 2022, Flexolar announced the launch of its largest portable solar power station to meet the rising demand for off-grid power solutions. The 1021Wh Portable Power Station from Flexolar is one of the most lightweight (18.7lbs) battery-powered generators on the portable solar charger market and can charge almost all electronic devices and appliances.

Product Insights

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.

Application Insights

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.

Panel Type Insights

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.

Regional Insights

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.

• According to the IEA Report Electricity 2024, India's electricity demand rose by 7% in 2023 and is mainly driven by rapid economic growth. It is expected annual average growth of 6.5% between 2024 and 2026.
• In December 2023, Waaree Energies, the Indian solar panel manufacturer, announced a substantial investment of up to USD 1 billion to establish a factory in Texas to meet the increasing demand for clean energy in the United States.
• In January 2024, Tata Power announced its plans to invest Rs 55,000 crore in wind and solar power generation in Tamil Nadu over the next 5-7 years as the Tata group firm expands its green energy focus. The company also has a solar cell and module manufacturing plant of 500 MW capacity in Bengaluru.

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.

• In December 2023, Acer announced the expansion of its product portfolio and business in Europe, the Middle East, and Africa, with a range of new eco-friendly, solar-powered, and portable energy solutions. The rising demand for sustainable energy has led to the increasing popularity of mobile power stations.
• In June 2022, Zergoun Green Energy inaugurated a 200 MW solar module factory in southern Algeria.

Portable Solar Charger Market Recent Developments

• In May 2022, Bluetti announced the launch of its new portable power station - Bluetti EB3A, that aims to serve all the power/ charging needs and minimizing the time it takes to charge large batteries. Unlike their fuel-chugging counterparts, the new power station is quieter, safer to use indoors and is also better for the environment when used with solar panels.
• In July 2023, Tesla launched its new ‘Charge on Solar’ feature to let its electric car owners charge their vehicles with sunshine. Renewable energies such as solar, wind, and hydro, are rapidly being deployed and are starting to produce excess energy. Batteries are expected to fix that and enable better use of these energy sources by storing the energy and using it when needed.

Portable Solar Charger Market Companies

• Goal Zero
• SunTactics
• Renogy
• HQST
• Go Power
• Voltaic Systems
• Acopower
• EMPO-NI off-grid solutions
• Instapark
• Anker Innovations Limited
• X-DRAGON
• IceTech
• Anker
• Solio
• Cobra Electronics
• Solar Frontier
• Kickstarter
• Philips Lighting

Segments Covered in the Report

By Product

• Small Portable
• Foldable
• Backpack

By Application

• Individual
• Defense

By Panel Type

• Monocrystalline
• Polycrystalline
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa