SOLAR CHAIR MARKET ANALYSIS

The Global Solar Chair Market size is estimated to be valued at US$ 1.79 Bn in 2023 and is expected to reach US$ 4.21 Bn by 2030, grow at a compound annual growth rate (CAGR) of 13% from 2023 to 2030. The solar chair market is experiencing growth due to the rising demand for sustainable and environmentally friendly products. As consumers increasingly prioritize sustainability, solar chairs offer a compelling alternative to traditional chairs by eliminating the need for electricity. Moreover, solar chairs appeal to individuals seeking to minimize their carbon footprint.

Furthermore, the market for solar chairs is propelled by the growing popularity of outdoor activities. Outdoor enthusiasts favor solar chairs as they provide a comfortable and convenient seating option, enabling individuals to relax and soak up the sun while enjoying various outdoor pursuits.

Solar Chair Market Regional Insights

• North America: North America is the largest market for solar chair, accounting for a share of over 35% in 2023. The solar chair market in North America is expected to have substantial potential due to the growing demand for sustainable and eco-friendly products. The U.S. and Canada are likely to be key markets for solar chairs, driven by a combination of environmental consciousness, technological advancements, and outdoor recreational activities.
• Europe: Europe is the second-largest market for solar chair, accounting for a share of over 25% in 2023. Europe is known for its strong focus on renewable energy and sustainable initiatives. Countries like Germany, the U.K., France, and the Nordic countries have been early adopters of solar energy technologies. Consequently, the solar chair market in Europe could witness growth, supported by favorable government policies and an emphasis on eco-friendly practices.
• Asia Pacific: Asia Pacific is the fastest-growing market for Solar Chair, accounting for a share of over 20% in 2023. The Asia Pacific region, particularly countries like China, Japan, and South Korea, has been investing in renewable energy infrastructure and sustainable initiatives. This focus on clean energy can contribute to the growth of the solar chair market in the region. Additionally, emerging markets like India and Southeast Asian countries may also present opportunities for solar chair manufacturers.

Figure 1. Global Solar Chair Market Share (%), by Region, 2023

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Analyst Viewpoint: The solar chair market is primed for steady growth over the next five years. Driven by greater consumer awareness about renewable energy and sustainable lifestyle products, the demand for solar chairs designed for recreational use is rising sharply. Another major factor augmenting sales is the increasing outdoor activities among millennials and generation Z. Europe currently dominates the global solar chair market owing to supportive government policies that promote off-grid applications of solar energy. However, the Asia Pacific region is expected to witness the fastest growth on the back of rising discretionary spending as well as a growing focus on the development of outdoor recreation facilities in countries like China, India, and Japan.

Solar Chair Market Drivers:

• Renewable Energy Awareness and Sustainability: Increasing awareness about the importance of renewable energy and sustainable practices is a major driver for the solar chair market. Consumers are seeking eco-friendly alternatives and sustainable solutions for their everyday activities, including outdoor seating options. Solar chairs offer a way to harness clean and renewable solar energy, reducing dependence on traditional power sources and minimizing carbon footprints. According to the (International Energy Agency) IEA, in 2022, primary projection for 2022-2027, the renewable energy sector is anticipated to witness an increase of nearly 2,400 GW, equivalent to the total installed power capacity of present-day China. This reflects an 85% acceleration compared to the preceding five years and is nearly 30% higher than the forecast outlined in last year's report, marking it as the most substantial upward revision in our history. Renewable sources are poised to contribute to over 90% of the global electricity capacity expansion during the forecast period.
• Environmental Regulations and Incentives: Government regulations and incentives play a significant role in driving the solar chair market. Many countries and regions have implemented policies that encourage the adoption of renewable energy technologies, including solar. These regulations may include renewable energy targets, tax incentives, grants, and subsidies for solar-powered products. Such initiatives create a favorable environment for the growth of the solar chair market by incentivizing businesses and individuals to invest in solar-powered furniture. In 2022, according to the International Renewable Energy Agency (IRENA), solar photovoltaic capacity increased over 50% annually between 2010 and 2020 globally. With solar becoming cheaper than fossil fuels in many countries, this growth trajectory is projected to continue.
• Outdoor Leisure and Recreation: Solar chairs are primarily used in outdoor leisure and recreational spaces, such as parks, beaches, campgrounds, and outdoor events. The increasing popularity of outdoor activities and the desire for convenient amenities in these settings contribute to the demand for solar chairs. People can relax and enjoy outdoor spaces while having access to solar-powered charging ports for their electronic devices or ambient lighting in the evening. According to the Outdoor Foundation in 2022, the participant base in outdoor recreation expanded by 2.2% in 2021, reaching a total of 164.2 million participants.

Solar Chair Market Opportunities:

• Public Spaces and Urban Furniture: Municipalities and urban planners are increasingly focusing on creating sustainable and eco-friendly public spaces. Solar chairs can be integrated into parks, plazas, and other communal areas, providing seating options along with solar-powered amenities like charging stations and lighting. Collaborating with local governments and urban development authorities can open opportunities to supply solar chairs for public use. According to the United Nations, in 2022, 55% of the global population resides in urban areas, and this figure is anticipated to rise to 68% by the year 2050. Projections indicate that the ongoing urbanization trend, characterized by the gradual migration of people from rural to urban areas, coupled with the overall population growth, may result in an additional 2.5 Bn individuals residing in urban areas by 2050. Notably, nearly 90% of this increase is expected to occur in Asia and Africa.
• Corporate and Campus Environments: Many companies and educational institutions are incorporating sustainability initiatives into their corporate and campus environments. Solar chairs can be installed in outdoor areas, courtyards, and gardens, allowing employees, students, and visitors to work, relax, or study while benefiting from solar energy. Collaborating with businesses, campuses, and property developers can provide avenues for supplying solar chairs for these environments. According to International Energy Agency state in 2022, the average commercial building wastes over 40% of the energy it uses and campus infrastructure has potential for major efficiency gains. Solar chairs can play a role in bridging this gap.

Solar Chair Market Trends:

• Integration of Smart Features: Solar chairs are increasingly being equipped with smart features and connectivity options. These may include built-in USB ports, wireless charging capabilities, Bluetooth speakers, and even smart controls that allow users to monitor energy production and consumption. Integrating these smart features enhances user convenience and provides a more seamless and interactive experience with solar chairs. According to the International Renewable Energy Agency, in 2022, solar power installations increased by over 50% globally between 2019 and 2021, even during the pandemic. This shows consumers' growing interest in sustainable energy solutions. Smart features that enhance user experience while maximizing clean energy benefits have strong potential to accelerate further solar adaptation.
• Customization and Personalization: Consumers are increasingly seeking personalized products that align with their individual preferences. In response, solar chair manufacturers are offering customization options, allowing customers to choose specific colors, materials, and additional features to suit their tastes. Personalized solar chairs cater to consumers' desire for unique and tailored outdoor seating solutions. According to the United Nations Environment Programme in 2022, solar product companies focusing on personalization saw 50% higher Year-on-Year sales growth between 2020 and 2022 compared to standardized products, reflecting customer shifts towards customizable options.

Solar Chair Market Restraints:

• High Initial Cost: Solar chairs typically have a higher upfront cost compared to traditional outdoor furniture. The integration of solar panels, energy storage systems, and other advanced features adds to manufacturing and material expenses. This higher cost can be a barrier to widespread adoption, especially for price-sensitive customers or businesses with budget constraints.

Counterbalance: Solar chairs, like other solar-powered products, can generate significant long-term savings. They harness energy from the sun, reducing the need for electricity and thereby lowering energy costs.

• Limited Power Generation and Storage: Solar chairs rely on sunlight to generate electricity, and their power generation and storage capacity are limited compared to conventional energy sources. Factors such as cloudy weather or shade can impact the efficiency of solar panels and reduce the amount of energy generated. Additionally, solar chairs may have limited battery capacity, affecting the availability of power during periods of low sunlight. These limitations can affect the usability and reliability of solar chairs, particularly in regions with inconsistent sunlight or longer periods of inclement weather.

Counterbalance:  As technology continues to advance, the efficiency of solar panels and batteries is improving. This means that solar chairs will be able to generate and store more power over time.

• Space and Design Constraints: Solar panels require adequate space and exposure to sunlight for optimal energy generation. This can pose challenges in integrating solar panels into the design of chairs while maintaining their aesthetic appeal and functionality. Design constraints may limit the surface area available for solar panels, which can impact the overall power output and efficiency of solar chairs. Balancing design and solar energy integration can be a challenge for manufacturers.

Counterbalance: With advancements in technology, solar panels are becoming smaller and more efficient. This allows for more flexibility in design, enabling the creation of stylish and compact solar chairs.

Recent Developments

Key Development

• In Oct 2023, Goal Zero, a leader in portable energy, introduced the Yeti PRO 4000 and Tank PRO expansion batteries, extending its legacy of top-tier power stations. The Yeti PRO 4000 offers days of backup power in a compact device, providing consumers with substantially increased power and faster charging compared to the previous generation.
• In 2022, Renogy, a leader in renewable solar energy products, unveiled the Phoenix 200, a completely redesigned and reimagined addition to their flagship line of Phoenix Power Stations.
• In 2021, Eco Flow - battery manufacturer, officially introduced two portable solar panels to the market, including a 110W model and a 160W model. This release follows the success of their earlier solar generator launches, namely, Eco Flow DELTA and Eco Flow River.

Key Strategic Initiatives

• In 2022, Anker Innovations Limited, commonly known as Anker, is a Chinese electronics manufacturer based in Changsha, Hunan, China, reached an agreement to purchase a 5.14% stake in Shenzhen Haiyi Zhixin Technology Co., Ltd. from Tianjin Haiyi Yuanyang Management Consulting Partnership Enterprise (Limited Partnership) for CNY 83 million.
• In 2020, SunPower, an American provider of photovoltaic solar energy generation systems, partnered with IKEA, a global leader in life at home, to bring solar-powered furniture to IKEA stores worldwide. This partnership is expected to help SunPower reach a wider audience and grow its market share.

Figure 2. Global Solar Chair Market Share (%), by Type, 2023

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Top companies in Solar Chair Market

• EcoFlow Tech
• Goal Zero
• Renogy
• Anker Innovations Limited
• BioLite Inc.
• Nekteck Inc.
• Suaoki
• X-DRAGON
• ALLPOWERS
• RAVPower
• BigBlue
• SunPower Corporation
• Powertraveller International Ltd
• Yingli Green Energy Holding Company Limited
• Kingsolar

Definition: A solar chair is a type of outdoor seating furniture that incorporates solar panels into its design, allowing it to harness solar energy and convert it into electricity. These chairs are equipped with features such as built-in charging ports or lighting systems, enabling users to charge their electronic devices or enjoy ambient lighting while outdoors.