The primary factors of Solar Cell Phone Charger Market that are improving this company vertical’s prognosis are the expanding global adoption of smartphones and the public’s growing awareness of environmental issues.
Additionally, the industry’s growing R&D activity, the general public’s rising disposable income, and the broad adoption of technical advancements are opening up profitable chances for the market to grow. Furthermore, the development of this economic sector is being aided by the surge in government programs to promote the use of renewable energy sources.
Solar Cell Phone Charger Market is expected to reach a valuation of USD 5.1 billion in 2030 from USD 946 million in 2021. Due to various growth inducing factors, the industry is reckoned to amplify with a CAGR of 18.7% over 2022-2030.
The growth of this industry is further aided by growing worries about the depletion of fossil fuels and the increased attention being paid by industry participants to the development and introduction of effective solutions. On the negative side, this industrial vertical’s compensation potential is being limited by the exorbitant expenses associated with these levies.
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Key Trends
- Mass Environmental Awareness Is Growing, Supporting Market Growth
Globally, people’s awareness of environmental issues has sharply increased. This is driven by growing concerns about global warming, the depletion of fossil fuels, and the usage of non-renewable energy sources. People are moving toward using environmentally friendly products, such as solar chargers, which are readily available in nature and present less of a risk to the environment.
- Growing governmental initiatives to promote the use of renewable energy sources to support industry growth
Several countries’ governments are acting decisively to preserve fossil fuels and other nonrenewable energy sources. They are pushing for the general public to switch to sustainable power sources in order to meet their everyday technological needs. To protect the planet from the threat of global warming and preserve natural resources for coming generations, a number of countries have banded together. As a result, thanks to their energy-efficient design, solar chargers are in higher demand.
Segmental Assessment
By Panel Type
- Ordinary Type
- Lighting Function Type
- Voltage Adjustable Type
By Application
- Mobile Phone Charging
- Digital Camera Charging
- MP3 Charging
- Other
By End User
- Individual Consumers
- Defense
- Transportation
- Others
Report Scope of Solar Cell Phone Charger Market
- Historical Trends- 2018-2021
- Forecast Years- 2022-2030
- Solar Cell Phone Charger Market 2021- USD 946 million and 2030- USD 5.1 billion
- Market CAGR- 18.7%
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Key Companies
- Renogy
- HQST (Canada)
- Goal Zero (US)
- Go Power (Canada)
- Acopower (US)
- Voltaic Systems (US)
- EMPO-NI off-grid solutions (Germany)
- Anker Innovations Limited (US)
- Instapark
- Suntactics (US)
- X-DRAGON
- Powertraveller International Ltd (UK)
- IceTech
The geographical terrain
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the principal geographical areas that make up this business vertical. North America is anticipated to earn a sizable portion of these between 2022 and 2030. This can be attributed to the public’s increased concern for the environment, rising economic levels, and the advancement of technology in the industry.
