Portable Solar Powered Generator Market: Introduction
- Generators convert mechanical energy into electrical energy. There are two types of generators: mobile or portable generators and stationary generators
- Portable solar power generator is considered a suitable off-grid alternative power source for light use. These generators are powered by the sun and provide power
- Several solar powered generators are actually all-in-one portable power stations with rechargeable batteries that change with solar energy, a wall outlet AC supply or through a CIG port
- Portable solar powered generators are gaining popularity, as they reduce the usage of non-renewable resources such as fossil fuels. They are also cheaper to maintain as compared to conventional sources of power generation.
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Key Drivers of Portable Solar Powered Generator Market:
- Natural calamities and bad weather are the major reasons for power outages. Generally, power failures are caused by natural weather phenomena, such as lightning, rain, snow, ice, wind, floods, and severe storms. Such natural disasters disrupt continuous power supply, which causes major faults or breakdowns in the power grid. Therefore, residential consumers rely on generators as their auxiliary power source. Continuous power requirement and unreliable power supply situation have spurred the demand for portable solar powered generators.
- Portable solar powered generators are lightweight, do not produce fumes or require fossil fuels, and are soundless. These factors are projected to drive the portable solar powered generators market.
- Awareness regarding the use of solar energy and favorable initiatives toward promotion of renewable energy are major factors driving the global portable solar powered generators market
- High cost of products and availability of other alternatives that are cost-effective, such as battery power packs or inverter technology are expected to hinder market growth
Lithium-ion Battery Segment to Offer Attractive Opportunities
- The global portable solar powered generator market can be segmented on the basis of battery type, power rating, and region
- In terms of battery type, the portable solar powered generator market can be divided into lead–acid and lithium-ion. The lithium-ion segment accounted for a significant share of the global portable solar powered generator market in 2018. Most solar generators use lithium-ion batteries to store electricity. Although they are expensive than lead–acid batteries, various benefits offered by them make them highly suitable for use in portable solar generators. In terms of weight, lithium-ion batteries are typically 50% to 33% of similar-sized lead–acid batteries. Moreover, lithium-ion batteries are able to charge faster than lead–acid batteries.
- Based on power rating, the global portable solar powered generator market can be classified into up to 500 W and more than 500 kW. The up to 500 W segment dominated the portable solar powered generator market in 2018 and this trend is expected to continue during the forecast period. Increase in global population is anticipated to increase the demand for power backup, which, in turn, is projected to drive the up to 500 W segment during the forecast period.
North America to Hold a Major Share of Global Portable Solar Powered Generator Market
- In terms of region, the global portable solar powered generator market can be classified into: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global portable solar powered generator market in 2018. This trend is expected to continue during the forecast period, owing to rise in government support for solar installation as well as reducing prices of solar panels
- Portable solar powered generator market in Asia Pacific is expected to grow at a significant CAGR during the forecast period. Rapid urbanization in several countries of the region, such as China, India, Indonesia, and Thailand, and rise in per capita consumption of energy in several ASEAN economies are anticipated to drive the market in the region
- In 2017, the number of blackouts across New Zealand increased by 36%, while Australia experienced a 19% rise. In 2017, more than 1.7 million people were affected by power outages in Australia and New Zealand. Thus, sales of generators in Australia and New Zealand are expected to fuel market growth during the forecast period.
- In terms of revenue, Europe is expected to contribute significantly to the global portable solar powered generator market during the forecast period, owing to stringent regulations by the EPA regarding emissions
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Key Players Operating in Global Portable Solar Powered Generator Market
The global portable solar powered generator market is highly concentrated with major manufacturers accounting for approximately 40%–45% market share. Some of the key players operating in the global portable solar powered generator market are:
- Goal Zero
- Sunvis Solar
Global Portable Solar Powered Generator Market: Research Scope
Global Portable Solar Powered Generator Market, by Battery Type
Global Portable Solar Powered Generator Market, by Power Rating
- Up to 500 W
- More than 500 W
Global Portable Solar Powered Generator Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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