Energy and Power

Portable Solar Panel Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : October 2023

Format :Pdf Ppt Xls

Report ID:KR335

Author : Shreya S.

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Base Year

2022

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Forecast Year

2023-2030

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Historical Years

2018-2021

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Market Value (2022)

USD 1.20 Billion

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Forecasted Value (2030)

USD 4.35 Billion

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CAGR (2023 – 2030)

17.50%

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Fastest Growing Region (2023 - 2030)

Asia Pacific

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Largest Region

Europe

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By Cell Type

Amorphous, Crystalline

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By Application

Emergency Power Backup, Leisure/Recreational Activities, Remote Monitoring/Maintenance, Mobile Lights, Others


Portable Solar Panel Market Size

The global Portable Solar Panel Market size was valued at USD 1.20 billion in 2022 and is projected to reach USD 4.35 billion by 2030, growing at a CAGR of 17.50% from 2023 to 2030. The global market growth is propelled by rising investments in solar-powered consumer electronics, accelerating demand for flexible/thin film electronics, and rapid transition to electric or hybrid cars, which have increased the demand for portable solar panels. The production of solar panels involves various cell types, such as monolithic amorphous, which increases their marketability as they provide maximum production.

In addition, government initiatives to boost the availability of off-grid energy, increasing penetration of portable & wireless energy-efficient devices, and growing concerns about depleting energy sources such as fossil fuels have contributed to the growth of this market.

Portable solar panels are designed to be light and compact, which can compromise their durability. They may be more susceptible to damage from impacts, extreme temperatures, or rough handling in outdoor environments. Ensuring the durability and longevity of portable solar panels is a constant challenge for manufacturers. Portable solar panels can be relatively expensive compared to traditional charging methods.

The cost of high-quality portable solar panels with the ability to efficiently convert energy can be a barrier for users, limiting their availability and adoption. Advances in solar cell technology, energy storage solutions, and weathering materials can help overcome these challenges and improve the efficiency and reliability of portable solar panels.

Analyst's Review

The use of portable solar panels, which are composed of an assembly of photovoltaic cells and are convenient to establish or install, is regarded as a key development in solar charging. Government programs for off-grid energy access, a rise in the use of wireless and portable energy-efficient devices, and growing concerns over fossil fuel depletion have all contributed to the market's expansion over time. The demand for portable solar panels is expected to be driven by rising investments in solar-powered consumer electronics, increasing uptake of flexible/thin film electronics, the move to electric or hybrid vehicles, and many other factors.

Market Definition

The portable solar panel is a compact and lightweight device that uses sunlight to generate electricity. It is designed to be easy to carry and use in various environments such as camping, hiking, travel, or emergencies. These panels are foldable or compact, which makes them easy to transport and store. They often have built-in features like USB ports or power banks that allow users to charge their electronic devices directly or store energy for later use. They provide a reliable power source in remote areas, offering outlet independence and reducing disposable batteries, making them a sustainable and cost-effective solution.

They are compact, lightweight, and efficient devices that allow users to harness solar energy to charge electronic devices or store energy. They offer a convenient and durable solution for powering devices on the go, making them popular with outdoor enthusiasts, travelers, and those who need an off-grid power source.

Portable Solar Panel Market Dynamics

The growing investments in solar-powered devices are expected to impact the demand for portable solar charging solutions positively. Sustainable energy sources, including solar energy, have gained significant attention as a clean and renewable option. This has increased the demand for solar-powered devices, such as smartphones, tablets, cameras, and other portable electronics. Investments in solar-powered consumer electronics drive innovation in portable solar charging technology.

Manufacturers focus on improving the efficiency and power of portable solar panels and incorporating features such as built-in batteries, USB ports, and wireless charging capabilities. These advances improve the usability and versatility of portable solar chargers, making them more attractive to consumers. Moreover, increasing investment in solar-powered consumer electronics and awareness of the benefits of solar energy are expected to increase the demand for portable solar charging in the market.

The complicated manufacturing process for portable solar panels is the main barrier preventing the market's growth. The challenges experienced during the manufacturing of solar panels have adverse consequences as solar energy is one of several renewable sources available to ensure power generation, reducing the usage of fossil fuels. The manufacturing of solar panel cells uses various components, including silicon tetrachloride and other hazardous compounds, which serve as one of the primary waste sources, requiring effective treatment or disposal. Enormous quantities of toxic waste, such as cadmium and lead, are produced, making the production process complex and unfavorable to the environment, restricting portable solar panel market growth.

Segmentation Analysis

The global market is segmented based on cell type, application, and geography.

By Cell Type

Based on cell type, the portable solar panel market is segmented into amorphous and crystalline. The crystalline segment dominated the market in 2022. The segment growth is rising on account of its higher energy efficiency and its ability to function optimally under high heat and low light conditions, contributing to market growth. This, in turn, eventually gained widespread popularity both indoors and outdoors, providing maximum power even in the most adverse conditions.

By Application

The portable solar panel market is segmented based on applications into emergency power backup, leisure/recreational activities, remote monitoring/maintenance, and mobile lights. The leisure/recreational activities segment is dominating the sector supported by factors such as the mounting popularity of outdoor activities such as camping, hiking, trekking, and many other leisure activities and the increasing shift to portable or wireless charging devices while traveling.

Portable Solar Panel Market Regional Analysis

Based on regional analysis, the global market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Europe is the dominating region in the market owing to the proliferating use of sustainable and convenient power solutions for outdoor activities, camping, and off-grid, as they offer the ability to use solar power and charge electronic devices. In addition, advances in portable solar panel technology have made them more efficient, lighter, and compact, making them ideal for consumers across the region. The use of portable solar panels in Europe is increasing due to the region's commitment to renewable energy and the growing demand for sustainable energy solutions.

Asia Pacific is the fastest-growing region in the portable solar panel market. This growth is backed by government incentives or measures to increase the transmission toward solar energy, bolster the penetration of portable energy-efficient devices, and support electricity availability in rural or remote areas. Several countries across the region are implementing policies to promote solar electricity use and reduce fossil fuel use. This has created a favorable environment for the growth of solar-powered consumer electronics products, propelling the demand for portable solar charging solutions. In addition, advancements in smart solar-powered wearable fitness devices, surging awareness of maintaining a healthy lifestyle, and increasing participation in leisure activities or sports are fueling market growth.

Competitive Landscape

The portable solar panel market report will provide valuable insights emphasizing the fragmented nature of the industry. Prominent players focus on key business strategies, such as partnerships, mergers & acquisitions, product innovations, and joint ventures, to expand their product portfolio and increase their respective market shares across different regions.

List of Key Companies in Portable Solar Panel Market

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

Key Industry Developments

  • March 2023 (Launch): FLEXSOLAR launched the A60 and A60 Pro on Kickstarter. Designed to provide reliable and efficient power on the go, these ultra-light and compact solar panels are considered ideal for outdoor enthusiasts, travelers, and anyone who needs a portable power source. The A60 and A60 Pro are designed to be durable and waterproof, with an IP67 waterproof rating that ensures they'll work even in the event of unexpected rain or accidental exposure.
  • April 2022 (Launch): Bluetti launched its new SP350 module, a 350W portable solar panel; the module is made of 23.4% efficient solar cells. The size of the new product is 2400 mm x 905 mm when opened and 905 mm x 613 mm x 65 mm when folded.

The global Portable Solar Panel Market is segmented as:

By Cell Type

  • Amorphous
  • Crystalline

By Application

  • Emergency Power Backup
  • Leisure/Recreational Activities
  • Remote Monitoring/Maintenance
  • Mobile Lights
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
CHOOSE LICENCE TYPE
CUSTOMIZATION OFFERED
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global market is projected to reach USD 4.35 billion by 2030, growing at a CAGR of 17.50% from 2023 to 2030.
The global market was valued at USD 1.20 billion in 2022.
The market growth is propelled by the growing investments in solar-powered consumer electronics, growing demand for flexible/thin film electronics, have increased the demand for portable solar panels in the market.
Top manufacturers of portable solar panel are Bluetti Power, Jinko Solar, Jackery Inc., Shenzhen Ouliyang Technology Co., Ltd, Tata Power, PowerFilm Solar, Inc., EcoFlow, Innotech Enterprise LLC, ACOPOWER, REDARC, and others.
Asia Pacific is expected to be the fastest-growing region over the forecast period (2023-2030).
By cell type, crystalline will hold the maximum share in the portable solar panel market with the revenue value by 2030.
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