Solar Power Bank Market size was valued at $6,733 million in 2017

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Solar energy has evolved as a major alternative source of energy. Solar energy is increasingly being utilized as source of energy for street lighting, automobiles, house appliances and others. In recent times, solar power banks are gaining popularity in the consumer market, with the rise in use of electronic gadgets. Solar power banks serve as an energy storage device, which can be utilized when required to charge any of the USB-charged devices such as cameras, portable speakers, GoPros, MP3 players GPS systems.

Solar power banks require sunlight to charge, making it reliable in circumstances where electrical supply or charger is not available. Most of the solar power banks available today can be charged alternatively via computer using USB. Considering solar as an environmental friendly technology, demand for solar power banks is expected to escalate in the coming years.

Solar Power Bank Market: Drivers and Restraints

Solar power banks find wide range of applications such as charging of smartphones, laptop, tablets and other devices. The growth of smartphones, laptops and tablets market has generated the need for external energy storage devices for charging. The escalated use of internet with the availability of 3G and 4G services on smartphones and tablets has increased the consumption of battery at a faster rate, thus, driving the solar power bank market. Further, tourists or trekkers preferring to travel at distant places can rely on the solar power banks over the conventional power banks, as at times of emergencies solar power banks can be charged via sunlight. The rural areas in emerging markets such as Africa, Asia and Latin America pose good opportunities for solar power banks due to constraint of electricity supply in these regions.  

However, the challenges such as low efficiency at night or cloudy days, may affect the trust of end consumers in the market. Since the launch of solar technology, the availability of sunlight in cloudy areas or at night times has been the major constraint for solar devices.

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Compatibility with all the device brands is another challenge affecting the market of solar power banks. Moreover, solar power banks also face competition from existing electrically charged power banks. Manufacturers need to focus on overcoming these major challenges to gain competitive advantage over the existing and new manufacturers entering the market in coming years to explore the untapped opportunities in solar power bank market.

Solar Power Bank Market: Segmentation and Top Players

Depending on the application and the capacity of battery, solar power banks are designed and available in market with different capacity range. The solar power bank market is categorized by the capacity range offered by the solar power banks, which include 500 mAh to 3499 mAh, 3500 mAh to 6499 mAh, 6500 mAh to 9499 mAh, 9500 mAh to 12499 mAh, 12500 mAh to 15499 mAh and above 15500 mAh.

The key companies operating in solar power bank market include Anker., Advantage Computers (I) Pvt. Ltd., LG Chem Ltd, China BAK Battery, Inc., Mophie Inc., Microsoft Corporation, Panasonic Corporation, OnePlus, Sony Corporation, Samsung SDI Co. Ltd., UNU ELECTRONICS INC., Xiaomi Technology Co., Ltd, and Shenzhen Topband Co. Ltd

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

The report covers exhaustive analysis on:

• Market Segments
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• Competition & Companies involved
• Value Chain

The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Value Chain

Regional analysis includes:

• North America
• Latin America
• Asia Pacific
• Japan
• Western Europe
• Eastern Europe
• Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Report highlights:

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• Potential and niche segments, geographical regions exhibiting promising growth
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• Must-have information for market players to sustain and enhance their market footprint

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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The regional analysis covers:

• North America (U.S. and Canada)
• Latin America (Mexico, Brazil, Peru, Chile, and others)
• Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
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