LOS ANGELES, Feb. 27, 2019 (GLOBE NEWSWIRE) -- New research study on the global solar charger market has evaluated the current and future market scenario by highlighting its growth opportunities and key trends. The newly released report by QY Research titled, "Global Solar Charger Market Outlook (2014-2025)", offers a dashboard view of the global solar charger market, taking into consideration its key aspects such as geographical outlook, market dynamics, and competitive landscape.
According to this report, the solar charger market is likely to expand with a gigantic CAGR of 24.2% throughout the projected period of 2019-2025. By the end of 2025, the market value is expected to grow at US$ 6240 Mn from US$ 1100 Mn in the year 2018. The growth of the market will be driven by increasing awareness for energy saving and favorable government regulations.
Global Solar Charger Market to grow due to rising concerns towards energy saving
The solar chargers are responsible for charging electronic devices such as laptops, smartphones, and tablets. In the past few years, the dependency on portable power sources has shown a positive influence on the growth of the market. Rising adoption of advanced electronics and energy efficient sources lead to propel the demand for the solar chargers. Growing dependency on the use of renewable energy sources over fossil fuels is likely to expand the growth of the market.
Increasing innovations in the nanotechnology and quantum physics sector will escalate the growth of the solar charger market. Some of the factors such as increasing consumer preference towards durable electronic devices, increasing urbanization, and rising concerns towards energy saving are expected to create a positive impact on the growth of the solar charger market in the years to come.
Global Solar Charger Market- Technology Trends
With rising advancements in Information & Technology, waterproof solar chargers are introduced in the global market. Waterproof solar chargers have better applicability and portability against bad climatic conditions. With the help of innovative technology hybrid solar chargers are becoming more efficient than portable solar chargers.
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Global Solar Charger Market: Segmentation Analysis
The global market for solar charger is segmented into product type and application. Above 20 Wattage, Below 5 Wattage, 10 Wattage to 20 Wattage, and 5 Wattage to 10 Wattage are some of the sub-segments of product type segment. While application segments is further segmented into Automotive and Portable Consumer Electronics.
Global Solar Charger Market: Regional Analysis
North America is expected to witnesses a significant growth during the predicted period. Asia Pacific and Europe are also likely to grow in the coming years due to the rising adoption of wearable products. The market for solar chargers in other countries such as Japan and China is anticipated to grow during the forecasted period.
Global Solar Charger Market: Key Players
Some of the leading manufactures covered during the study are Hanergy, Anker, Allpowers Industrial International, Goal Zero, Xtorm, Letsolar, Instapark, RAVPower, NOCO, ECEEN, Solar Technology International, Powertraveller, YOLK, Solio, Voltaic System, and Little Sun.
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