Solar Blanket industry is projected to reach $274.2 million by 2031 | Latest Trends and Growth Opportunities

The global solar blanket market size was valued at $132.4 million in 2021, and solar blanket industry is projected to reach $274.2 million by 2031, growing at a CAGR of 7.6% from 2022 to 2031.

The solar blanket market forecast is categorized based on type, product variation, application, and geographical location. In terms of type, it includes amorphous silicon, cadmium telluride, copper indium gallium selenide, and other types. The copper indium gallium selenide segment held the largest market share in 2021, primarily due to its significant contribution to the expansion of solar photovoltaic capacity in unconventional regions.

Solar blankets, serving as portable power generators, are crafted using flexible solar panels. They come in three product variants: rectangle, oval, and round solar blankets. These blankets are employed to power various portable gadgets utilized in everyday life by consumers, as well as by military personnel in the military sector.

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Solar blankets find diverse applications across industries including industrial, commercial, automotive, aerospace, and others. Predominantly, their usage is widespread in the industrial sector, where they serve to energize low-power electronic devices integrated within buildings. The growing population and rapid industrial expansion have spurred investments in constructing various manufacturing facilities, particularly in the automotive and aerospace sectors, resulting in heightened power demands, given the automation prevalent in most manufacturing plants. Consequently, the adoption of building-integrated solar blankets has surged to meet these energy needs. These market dynamics are poised to amplify opportunities in the solar blanket market in the forecast period.

Manufactured from flexible solar panels, solar blankets serve as portable power generators, available in three primary configurations: rectangle, oval, and round. They cater to powering portable consumer gadgets in everyday life as well as serving the needs of military personnel in the military sector.

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By application, it is divided into industrial, residential, automotive, aerospace, and others. The industrial segment accounted for the largest revenue share in the global solar blanket market in 2021. Solar blanket has a wide spectrum of applications such as powering industrial buildings and some low-power machines during an emergency.

Region-wise, North America accounted for the largest market share in the market and is projected to grow at a CAGR of 7.1% during the forecast period. An increase in the investment of the government towards green military has benefited the global solar blanket market growth.

Rectangle solar blankets are the most popular type of solar blankets. The utilization of solar blankets in residential and commercial buildings help conserve energy. These blankets are also used to provide a warm environment for the people residing in the buildings, especially those living in cold environments. An oval solar blanket is a type of solar blanket that is designed to be more efficient in covering a larger area. It is usually rectangular in shape, with the two long sides being curved inward to form an oval. This design helps to maximize the amount of sunlight that can hit the blanket's surface.

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Key Findings of the Study:

• According to analysis of the solar blanket market, the Copper Indium Gallium Selenide segment emerged as the dominant global player, capturing over 41.5% of the market share in 2021 and is expected to maintain this position throughout the forecast period.
• In terms of product type, the rectangular solar blanket segment held the largest portion, comprising 52.2% of the global market share in the fiscal year 2021.
• In terms of application, the industrial sector represented 31.5% of the global market share in FY2021.
• Regionally, North America stands out as the primary consumer of solar blankets, representing approximately 36.8% of the global market share in 2021.

Competitive Analysis:

The Solar blankets Industry's key market players adopt various strategies such as product launches, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Key Market Players:

• Leslie's Inc.
• Flisom
• FWAVE Company Limited
• SunPower Corporation
• Enecom
• PowerFilm Solar Inc.
• Alta Devices
• Sunflare
• Sungold

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