Global Solar Battery Charger Market 2016-2020

Outlook of the global solar battery charger market

Technavio’s analyst predicts the global solar battery charger market to grow with an impressive CAGR of more than 13% during the forecast period. With the rapidly increasing use of electronic devices, the market for solar battery charger will have a positive outlook until the end of 2020. An expanding population and rapid industrialization have increased the demand for power globally, resulting in a major demand-supply gap. Moreover, the last decade saw a sharp rise in the use of gadgets and other portable electronic devices. According to the US Department of Energy, the average electricity expenditure of an American household is close to USD 1500 annually, of which 10% goes into recharging products. Solar chargers help meet the needs of a household while minimizing the dependency on conventional sources of electricity. Also, these chargers can be used in the event of a power outage or an emergency. The wide application of solar battery chargers in telecommunications and automobile industries will propel the prospects of growth of this market during the forecast period.

The recent advances in technology in the development of solar battery chargers is expected to contribute to the market growth during the forecast period.  Manufacturers are looking to improve the quality of charge controllers, value-added features, and designs of solar battery chargers. These developments will not only lead to a reduction in operating cost but will also help these chargers deliver better quality and cleaner battery power.

End-user segmentation and analysis of the solar battery charger market

• Individual consumers
• Transportation
• Military application