Global Solar Mobile Charger Market Research and Forecast 2022-2028

Global Solar Mobile Charger Market Size, Share & Trends Analysis, by Panel Type (Mono-Crystalline Solar Chargers, Poly-Crystalline Solar Chargers, Amorphous Solar Chargers, And Hybrid Solar Chargers), by Application (Individual Customers, Transportation, Military), By Charger Type (Solar Trickle Chargers, Clamshell Solar Chargers, Folding Solar Chargers, And Backpack Solar Chargers) Forecast Period (2022-2028)

The global solar mobile charger market is anticipated to grow at a considerable CAGR of 7.4% during the forecast period. The global solar mobile charger can charge lead acid or Ni-Cd battery banks up to 48 V. Such type of solar charger setups generally uses an intelligent charge controller. A series of solar cells are installed in a stationary location and can be connected to a battery bank to store energy for off-peak usage. They can also be used in addition to mains-supply chargers for energy saving during the daytime. The solar battery chargers are perfect for rural settings without electricity. Solar power is an effective solution for those who vandalize electrical power lines. The solar cell panel on the solar charger does not require much maintenance once they are brought up to its extreme efficiency. Apart from that, the solar cell panel is very reliable as it can last longer than other sources of energy. The solar charger is very environmentally friendly which enables in reduction of global warming and the greenhouse effect and also does emit zero pollution. It also aids in reducing costs such as electric bills as the solar charger source of energy is free. The solar charger also operates quietly and this does not contribute to noise pollution.

The rising electric vehicle market is expected to boost the solar mobile charger market in the forecast time. An electrical vehicle is a battery-powered vehicle. The vehicle gets energy from the battery the place of any fossil fuel. As per International Energy Agency, about 750 thousand electric vehicles were sold in 2016 globally. The countries such as Norway have 29.0% market share of Electric vehicles. Netherland and Sweden have the 6.4% and 3.4% respectively market shares of e-vehicle in 2016. China is the largest market for electric vehicles in 2016 with about 40.0% of the global market share. It is expected that the electric vehicle market will grow ata very fast pace. The number of electric vehicle sales can be between 9 million to 20 million in 2020 and 40-70 million in 2025. The increasing number of electric vehicles will increase the need for electric vehicle chargers in the near future.

Impact of COVID-19 Pandemic on Global Solar Mobile Charger Market

The COVID-19 pandemic has had a considerable impact on the Solar Mobile Charger market. The spread of COVID-19 had a detrimental influence on the market due to supply chain disruptions as a result of protracted plant closures around the world. The COVID-19 pandemic has broken out, and the situation is still uncertain. However, there are facts to consider. Lockdowns in several countries restricted the production and sales of EVs, which also negatively impacted the growth of the EV battery market. For instance, in February 2020, automotive industry sales plummeted 79.0% in China due to the coronavirus outbreak. With the spread of COVID-19 in the other parts of the globe, production plants were shut down along with the retail EV outlet. In China, Tesla’s plant was closed for 10 days in February. On 23rd March, the company has to stop production in its California, US plant.

Segmental Outlook

The global solar mobile charger market is segmented on the basis of the panel type, application, and charger type. Based on the product, the market is segmented into mono-crystalline solar chargers, poly-crystalline solar chargers, amorphous solar chargers, and hybrid solar chargers. Based on application, the market is segmented into individual consumers, transportation, and the military. Based on charger type, the market is segmented into solar trickle chargers, clamshell solar chargers, folding solar chargers, and backpack solar chargers. The solar trickle chargers are expected to hold the largest market share during the forecast period.

Global Solar Mobile Charger Market Share by Application, 2021 (%)

Global Solar Mobile Charger Market Share by Application

The Transportation Segment is Anticipated to Hold Prominent Share in the Global Solar Mobile Charger Market

The transportation segment is expected to hold a prominent share. The market is driven by increasing awareness regarding the EV across the globe. Further, the rising environmental concerns and increasing government support will continue to boost electric mobility, which is expanding at a rapid pace. For instance, Norway is planning to phase out conventional cars by 2025, followed by France and UK in 2040 and 2050, respectively. Moreover, in October 2017, Germany’s Bundesrat passed a resolution to ban IC engine-based vehicles by 2030. Additionally, to keep the mobility sector going, market players and the governments are pushing the plan for rolling out EVs and hybrid vehicles on road. In 2020, the Government of France had announced to ban sales of new fossil fuel cars by 2040. Moreover, it has also announced a target of a fleet size of 500,000 PHEV and 600,000 battery-based EVs by 2023.

Regional Outlooks

The global solar mobile charger market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American regional market is expected to cater to considerable growth during the forecast period.

Global Solar Mobile Charger Market Growth, by Region (2022-2028)

Global Solar Mobile Charger Market Growth, by Region

Asia-Pacific Region is Expected to Hold a Prominent Share in the Global Solar Mobile Charger Market

Asia-Pacific region is expected to hold a prominent share in the global solar mobile charger market due to the increasing prevalence of diseases, risks, and incidences of chronic disorders. The presence of a large customer base coupled with favorable government incentives and subsidies to promote the adoption of EVs are some factors that are motivating the market growth in Asia-Pacific. Economies such as China, India, Japan, and South Korea are fueling the industry growth of the regional market. Additionally, initiatives such as EV30@30 are also driving the rapid adoption of battery EVs across the major economies of Asia-Pacific. Moreover, on April 23 2020, China’s Ministry of Finance (MOF), Ministry of Industry and Information Technology (MIIT), Ministry of Science and Technology (MOST), and National Development and Reform Commission (NDRC) jointly released a notice on optimizing fiscal subsidies for promoting new energy vehicles. Subsidies are extended for two years, from the end of 2020 to the end of 2022, as a way to stimulate the automobile market, which has been severely impacted by the COVID-19 pandemic and the global downturn of the auto industry since 2018.

Market Players Outlook

The major companies serving the global solar mobile charger market include Anker Technology Co. Ltd., Canadian Solar Inc., Cobra Electronics Corp., and Suntech Power Holdings Co., Ltd. among others.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global solar mobile charger market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.