by The global solar chair market has gained significant traction in recent years due to growing demand for sustainable and eco-friendly furniture options. Solar chairs are equipped with built-in solar panels that allow users to charge mobile devices and other electronic gadgets directly through its arms or backrest. Its sustainable design eliminates the need for batteries while enabling usage even in remote areas without any power source. Manufacturers are innovating new designs integrating photovoltaic cells that can efficiently harness sunlight and convert it into usable electricity. Some high-end models are integrated with storage batteries for prolonged usage after sunset.
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 key trends:
One of the key trends driving the solar chair market is the growing adoption of renewable energy sources. There is a rise in awareness among consumers about the need to reduce carbon footprint which has boosted the demand for solar products across industries. Solar chairs allow users to harvest clean energy directly from sunlight which has made them a popular sustainable furniture option for outdoor and camping purposes. Manufacturers are heavily investing in R&D to develop lightweight and durable solar panels for furniture integrating the latest battery technologies. Also, improved energy storage capacity of lithium-ion batteries has increased the potential of solar chairs to power electronic devices for extended hours without sunlight. This has augmented their demand in both residential and commercial establishments globally.
Porter’s Analysis
Threat of new entrants: Low capital requirements for manufacturing and distribution limit barriers to entry in the solar chair market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes such as solar backpacks and solar generators.
Bargaining power of suppliers: Major technology providers like SunPower Corporation exert significant influence on pricing and production capacity.
Threat of new substitutes: Products like solar backpacks and portable solar generators from competitors pose a minor threat as substitutes.
Competitive rivalry: Fierce competition exists among established brands like EcoFlow Tech, Goal Zero, and Renogy to gain market share.
Key Takeaways
The global Solar Chair Market Share is expected to witness high growth over the forecast period. The Asia Pacific region currently dominates the market owing to higher solar energy adoption in countries like China, India, and Japan.
Regional analysis: The Asia Pacific region holds the largest share of the global solar chair market due to the strong presence of manufacturers in China and India. Countries in the region are focused on solar energy generation and several government initiatives are propelling market growth.
Key players: 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. EcoFlow Tech leads the market with its innovative and portable solar power solutions for outdoor activities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
