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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.