PORTABLE SOLAR PANEL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Portable Solar Panel Market Size and Forecast – 2024 - 2031

The global portable solar panel market is estimated to be valued at USD 1.28 Bn in 2024 and is expected to reach USD 4.34 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 19.1% from 2024 to 2031.

Key Takeaways of the Portable Solar Panel Market:

• The crystalline segment is expected to account for 60.3% of the market share in 2024
• The residential segment is projected to hold a 49.7% share of the market in 2024
• The online retail segment is expected to capture 53.5% of the market share in 2024
• North America is projected to lead the global market with a 37.3% share in 2024, followed by the Asia Pacific region, which is expected to hold 26.8% of the market share

Market Overview:

The rising concerns about environmental pollution and sustainability have led more consumers to opt for renewable energy sources like solar. Furthermore, issues like electricity outages and need for backup power during outdoors have also propelled the demand for portable solar panels globally. The market is witnessing positive trends like rising adoption of off-grid and battery-based solar systems. Manufacturers are focusing on developing innovative and affordable product offerings suitable for both residential and commercial applications. Moreover, growing need for uninterrupted power supply in various end-use industries and off-grid areas are anticipated to drive the demand for portable solar panels during the forecast period.

Segmental Insights

To learn more about this report, Request sample copy

Cell Type Insights - Dominance of crystalline technology on the back of higher efficiency

In terms of cell type, the crystalline segment is expected to contribute 60.3% share of the market in 2024, owing to its higher efficiency and lower cost compared to other technologies. Crystalline solar panels are made of either mono-crystalline or poly-crystalline wafers of silicon arranged in a grid pattern and sealed between glass and a backing. This structure allows crystalline panels to effectively capture more sunlight and convert it to electricity compared to thin-film technologies. Their photovoltaic conversion efficiency, sometimes exceeding 22%, is unrivaled.

Application Insights - Residential sector leads demand

In terms of application, the residential segment is expected to contribute 49.7% share of the market in 2024, driven by rising environmental awareness. Growing social consciousnesses regarding climate change have motivated homeowners to invest in renewable energy for their properties. Government subsidies and incentives in several countries have complemented this trend by lowering upfront installation costs. Widespread social media promotion of do-it-yourself solar projects have also inspired many to install personal solar systems.

Distribution Channel Insights - Online sales boost accessibility

In terms of distribution channel, the online retail segment is expected to contribute 53.5% share of the market in 2024, driven by its accessibility and convenience. Current lifestyles with reduced free time have increased demand for hassle-free shopping experiences. Being able to research, choose from a wide selection and order portable solar products online from the comfort of one's home strongly appeals to time-strapped consumers. Online platforms also provide valuable third-party reviews and comparisons to guide purchase decisions.

Regional Insights

To learn more about this report, Request sample copy

North America Portable Solar Panel Market Trends

North America is projected to lead the market with a 37.3% market share in 2024. This dominance is driven by favorable government policies encouraging renewable energy adoption, well-developed solar energy infrastructure, and the strong presence of leading manufacturers. Companies such as SolarOne, Renogy, and Jackery have played a crucial role in enhancing solar energy accessibility across the region.

Asia Pacific Portable Solar Panel Market Trends

The Asia Pacific region is anticipated to account for 26.8% of the market share in 2024, showcasing the fastest growth. Rapid population growth and urbanization in many countries have created significant power challenges, driving the need for innovative energy solutions. Supportive government incentives promoting green technologies have further encouraged the adoption of portable solar products among both individual and corporate consumers.

Portable Solar Panel Market Outlook for Key Countries

U.S. Portable Solar Panel Market Trends

The U.S. portable solar panel market continues to lead with widespread commercial and residential installations. Pioneering companies like Goal Zero and FrogPad focus on off-grid applications and improving portability. The U.S. is a significant market for portable solar panels, driven by the increasing adoption of renewable energy solutions and outdoor recreational activities. The growing awareness about climate change is pushing consumers towards sustainable energy options.

Canada Portable Solar Panel Market Trends

Canada portable solar panel market is expanding, fueled by a rise in outdoor activities and government initiatives promoting renewable energy. The Canadian government has implemented various incentives for solar energy adoption, leading to increased consumer interest. In 2023, the market was supported by a significant increase in sales of portable solar solutions, particularly in remote areas. Go Power, a leading Canada-based company specializing in portable solar power solutions, has played a pivotal role by offering innovative, durable, and user-friendly solar panel kits designed for recreational vehicles (RVs), boats, and off-grid applications. Go Power’s commitment to delivering high-quality products and its extensive dealer network have been instrumental in promoting the adoption of portable solar panels across Canada, especially in underserved regions.

Germany Portable Solar Panel Market Trends

Germany is witnessing robust growth in the portable solar panel market, driven by strong government support for renewable energy and sustainability initiatives. The country accounted for a substantial share of the Europe market in 2023, with increasing investments in solar technology. The Germany government’s commitment to reducing carbon emissions is further propelling the demand for portable solar solutions. A key player contributing to this market expansion is Anker Innovations, a company known for its advanced portable solar panels and power stations. Anker's innovative products, such as lightweight and highly efficient foldable solar panels, cater to the needs of campers, travelers, and remote workers.

Australia's Portable Solar Panel Market Trends

Australia's market for portable solar panels is growing rapidly, particularly in the context of outdoor lifestyles and eco-friendly practices. The Australian government has introduced policies to encourage the use of renewable energy, which has led to a 40% increase in inquiries for portable solar products in 2023. This trend is supported by the rising popularity of camping and outdoor activities. A key player in this market is Redarc Electronics, a renowned Australia-based company specializing in innovative portable solar panels and power management solutions.

U.K. Portable Solar Panel Market Trends

The U.K. is experiencing a surge in demand for portable solar panels, driven by increasing environmental awareness and the popularity of outdoor recreational activities. In 2023, the market saw a notable rise in sales, particularly for products designed for camping and travel. The U.K. government’s initiatives to promote renewable energy have also contributed to this growth. A key contributor to this market is Powertraveller International, a U.K.-based company specializing in portable solar chargers and energy solutions. Powertraveller's innovative products, like the SolarGorilla and PowerGorilla solar panel systems, are designed for outdoor enthusiasts, travelers, and remote workers, offering reliable and efficient power in off-grid scenarios.

Market Players, Key Devlopment, and Competitive Intelligence

Get actionable strategies to beat competition: Request sample copy

Key Developments:

• In March 2023, FLEXSOLAR launched the A60 and A60 Pro on Kickstarter, targeting outdoor enthusiasts, travelers, and portable power users. These lightweight, compact solar panels deliver efficient and dependable energy for on-the-go use. Built to withstand challenging weather, they feature an IP67 waterproof rating for enhanced durability and reliability. FLEXSOLAR is a leading innovator and manufacturer specializing in portable solar energy solutions.

Top Strategies Followed by Global Portable Solar Panel Market Players

• Established players in the market focus extensively on research and development to introduce innovative products.
• For example, Companies like Renogy and Anker invest heavily in R&D each year to improve solar panel efficiency and develop smart energy management systems. They also form strategic partnerships with automotive and electronics giants. This allows them to leverage their partners' manufacturing capabilities and distribution networks for global expansion.
• Mid-sized players adopt cost-effective strategies to target price-conscious customers. They ensure high quality at affordable prices through economies of scale. Some optimize production processes, source materials directly, and reduce distributors' margins. Collaboration is also key. Firms partner on technology and production to augment strengths. For instance, EnerPraxis has collaborations with universities working on flexible solar cells.
• Small-scale players focus on niche markets through specialization. Some capitalize on portable designs for recreational vehicles or boats. Others create customized solutions for particular off-grid applications. To remain competitive, smaller brands adopt new tech like thin-film cells. Local partnerships aid market access. For example, certain startups tie-up with campsite operators for product trials and visibility.

Emerging Startups - Global Portable Solar Panel Industry Ecosystem

• Innovation Technology: Certain startups develop smart solar solutions with integrated sensors and connectivity. These panels communicate power levels in real-time via mobile apps. Some integrate artificial intelligence to optimize charging based on usage patterns. Such innovations will transform how renewable energy is generated and managed portably.
• Sustainability Players: Startups focus on eco-friendly attributes like utilizing recycled PET plastic or aluminum instead of glass. Their lightweight, flexible designs reduce e-waste. Some work on harvesting energy from both sun and ambient indoor lighting. These combined innovations lower the industry's carbon footprint over time.
• Niche Startups: Niche startups target off-grid recreational vehicles or boats with specialized portable panels. A few focus on portable outdoor lighting solutions or panels that fold for ultra-compact storage. Through unique designs, they fill unmet market needs. Partnerships with campgrounds and marinas aid commercialization and sales growth.

Market Report Scope

Market Dynamics

Discover market dynamics shaping the industry: Request sample copy

Portable Solar Panel Market Growth Factors

Growing demand for renewable energy sources

The global demand for renewable energy sources has been steadily rising over the past few decades driven by the need to tackle climate change and reduce dependence on fossil fuels. Solar energy, being one of the most abundant renewable resources, has emerged as a major alternative with its market growing exponentially year over year. The falling prices of solar panels and supportive government policies worldwide have made solar power much more accessible and attractive for both residential and commercial consumers. Customers now want to reduce their carbon footprint and electricity bills by harnessing natural sunlight and adopting solar as part of their energy mix.

Portable Solar Panel Market Challenge - High initial costs of portable solar panels

One of the key challenges currently inhibiting the growth of this market is the relatively high initial costs associated with purchasing portable solar panels. While the cost of solar technology has declined significantly in recent years, portable solar panels that can effectively charge devices on the go still represent a substantial investment for many individual consumers and businesses. The need to purchase high-capacity battery packs and high-efficiency solar panels to maximize charging ability drives up prices. In remote or off-grid locations where reliable electricity is unavailable, portable solar provides an essential service, but high upfront costs may prevent broader adoption.

Portable Solar Panel Market Opportunity - Technological advancements in solar panel efficiency

One of the biggest market opportunities for the portable solar panel industry lies in continued technological advancements that can improve the energy efficiency of solar panels. As solar panel production processes are refined and new materials developed, panel efficiencies are expected to climb higher in the coming years. This will allow future portable solar panels to provide more power from a smaller surface area. For consumers, higher efficiencies could translate to lower prices required to reach the same charging levels. Alternatively, greater power output could be achieved from panels of similar size and cost to today's products.

Analyst Opinion (Expert Opinion)

• Driven by increasing awareness about renewable energy and sustainability, the demand for portable solar panels is growing among outdoor enthusiasts and off-grid residents. The declining prices of solar technology is also making portable solar panels more affordable to consumers
• Availability of substitutes such as portable power banks can restrain the market growth. Additionally, issues with portability and bulkiness of panels may limit the adoption for certain use cases which require highly portable power sources. Technological challenges around energy efficiency and lifespan of portable solar panels also act as a restraint.
• North America currently dominates the portable solar panel market but Asia Pacific is expected to witness the fastest growth. In the U.S. and Europe, rising sales of recreational vehicle (RVs) and caravans will propel market expansion. Meanwhile, the growing off-grid population in rural regions of India and Africa present major opportunities.

Market Segmentation

• By Cell Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Crystalline
  • Amorphous
• By Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Residential
  • Commercial
  • Industrial
  • Others
• By Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
• • Online Retail
  • Retail Stores
  • Direct Sales
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • Renogy
  • Goal Zero
  • ALLPOWERS
  • SunPower
  • Anker
  • EcoFlow
  • RAVPower
  • Jackery
  • BioLite
  • Solartab
  • ACOPOWER
  • Suaoki
  • BIGBLUE
  • PowerFilm Solar
  • SunJack