by The global Solar Chair Market is estimated to be valued at US$ 1.79 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The solar chair Market deals with chairs that are equipped with integrated solar panels. These solar panels can be used to charge electronic devices like phones, laptops or power banks while sitting. Solar chairs offer convenient solar power generation while relaxing outside in parks, beaches or camping sites. They provide an eco-friendly way of harvesting renewable energy without affecting the primary purpose of sitting. The integrated lithium-ion batteries store power from the solar panels and allow charging on cloudy days or at night. Some advanced models offer USB ports for charging multiple devices simultaneously.
Market key trends:
One of the key trends in the solar chair market is the introduction of lightweight and portable designs. Manufacturers are developing chairs that can be folded or dismantled into smaller components for easy carrying during traveling. These portable chairs have become popular among outdoor enthusiasts, campers, beach-goers and picnickers. Another notable trend is the addition of smart features in high-end solar chair models. Features like wireless connectivity, integrated speakers and app control have enhanced consumer experience. Furthermore, innovative designs combining the functionality of seating and solar panels are expanding the potential of these products.
Porter’s Analysis
Threat of new entrants: Low capital requirements to manufacture and market portable solar chairs pose a moderate threat of new entrants. However, established brands have significant advantages in production experience and distribution networks.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes like solar panels and umbrellas. However, factors like portability and convenience provided by solar chairs make buyers less price-sensitive.
Bargaining power of suppliers: Manufacturers source raw materials like aluminum, fabrics, and solar panels from a wide network of global suppliers. This ensures moderate bargaining power for suppliers.
Threat of new substitutes: Substitutes like portable solar chargers and umbrellas offer competition. However, the unique portability and integrated design of solar chairs make them less susceptible to substitution.
Competitive rivalry: Intense competition exists among established brands on factors like pricing, features, durability and aesthetics.
Key Takeaways
The Global Solar Chair Market Size is expected to witness high growth, exhibiting a CAGR of 13% over the forecast period, due to increasing consumer demand for portable renewable energy sources during outdoor activities.
The Asia Pacific region dominates the solar chair market currently owing to early technology adoption, favorable government policies for renewable energy usage, and high spending power of consumers in countries like China and India. Europe is another major regional market driven by high awareness about clean energy.
Key players operating in the solar chair market are EcoFlow Tech, Goal Zero, Renogy, Anker Innovations Limited, BioLite Inc., Nekteck Inc., Suaoki, X-DRAGON, ALLPOWERS, RAVPower, BigBlue, SunPower Corporation, Powertraveller International Ltd, Yingli Green Energy Holding Company Limited, Kingsolar. These companies compete on factors like pricing, durability, features and brand recognition.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
