PORTABLE SOLAR PANEL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Portable Solar Panel Market, By Cell Type (Crystalline and Amorphous), By Application (Residential, Commercial, Industrial, and Others), By Distribution Channel (Online Retail, Retail Stores, and Direct Sales), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)
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.