PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616343
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1616343
Solar-Powered Gadgets Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Solar-Powered Gadgets Market was valued at USD 68.6 billion in 2023 and is projected to grow at a CAGR of 11.3% from 2024 to 2032. The increasing awareness of climate change and the environmental impact of traditional energy sources is driving the shift toward renewable energy, with solar-powered gadgets becoming an attractive solution for individuals and businesses. A key factor behind this growth is the growing desire to reduce carbon footprints and contribute to environmental sustainability. Innovations in solar technology, such as improved photovoltaic cells, better battery storage, and flexible solar panels, have made solar-powered gadgets more efficient and versatile. These advancements are boosting the performance of solar-powered devices, making them more appealing to consumers across various sectors.
The market is segmented by gadget type, including consumer electronics, home and garden, outdoor and recreational, and others. In 2023, consumer electronics generated around USD 26.5 billion in revenue and is expected to reach approximately USD 72.5 billion by 2032. Enhanced battery technology has played a pivotal role in improving the reliability and performance of solar energy systems. Modern solar batteries can store larger amounts of energy, ensuring a stable power supply even during periods without sunlight. This advancement reduces reliance on grid-based electricity and increases energy self-sufficiency.
In terms of end users, the solar-powered gadgets market is divided into residential and commercial sectors. The residential segment held a dominant market share of around 60% in 2023 and is expected to grow at a CAGR of 11.7% over the forecast period. Homeowners are increasingly adopting solar panels with battery storage systems to cut energy costs and enhance energy independence. The falling prices of solar technology, combined with government incentives, are driving this trend.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $68.6 Billion |
| Forecast Value | $175.3 Billion |
| CAGR | 11.3% |
Solar-powered garden and path lights are particularly popular due to their easy installation, low maintenance, and ability to improve outdoor aesthetics while saving energy. North America led the market in 2023, accounting for approximately 22% of the total share, and is anticipated to grow at 11.5% CAGR during the forecast period. Technological innovations, supportive government policies, and rising interest in sustainable solutions are driving this growth. As awareness of environmental issues grows, consumers and businesses are turning to eco-friendly products, and solar-powered gadgets align with this demand by reducing reliance on fossil fuels and minimizing carbon footprints.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis.
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Consumer demand for sustainable products
- 3.2.1.2 Advancement in portable solar technology
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 Competition from other technologies
- 3.2.2.2 Efficiency and performance issues
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Future trend analysis
- 3.5 Price analysis
- 3.6 Consumer buying behavior
- 3.7 Technological landscape
- 3.8 Regulatory framework
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Company market share analysis
- 4.2 Competitive positioning matrix
- 4.3 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Gadget Type (USD Billion) (Units)
- 5.1 Key trends
- 5.2 Consumer electronics
- 5.2.1 Solar USB chargers
- 5.2.2 Solar radios
- 5.2.3 Solar power bank
- 5.2.4 Solar laptop
- 5.2.5 Solar bluetooth speakers
- 5.2.6 Others (Solar phone cases Etc.)
- 5.3 Home and garden
- 5.3.1 Solar lights
- 5.3.2 Solar fans
- 5.3.3 Solar security cameras
- 5.3.4 Solar chimney
- 5.3.5 Others (Solar water purifiers etc.)
- 5.4 Outdoor and recreational
- 5.4.1 Solar backpack
- 5.4.2 Solar GPS devices
- 5.4.3 Solar cooking equipment
- 5.4.4 Solar camping gear
- 5.4.5 Solar tents
- 5.4.6 Others (Solar binoculars etc.)
- 5.5 Others (Automotive and transport etc.)
Chapter 6 Market Estimates & Forecast, By End User (USD Billion) (Units)
- 6.1 Key trends
- 6.2 Residential
- 6.3 Commercial
Chapter 7 Market Estimates & Forecast, By Distribution Channel (USD Billion) (Units)
- 7.1 Key trends
- 7.2 Direct sales
- 7.3 Indirect sales
Chapter 8 Market Estimates & Forecast, By Region (USD Billion) (Units)
- 8.1 Key trends, by region
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 Australia
- 8.4.5 South Korea
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.6 MEA
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 South Africa
Chapter 9 Company Profiles
- 9.1 Garmin
- 9.2 Gemma Lighting
- 9.3 GoSun
- 9.4 Hikvision Digital Technology
- 9.5 INVT Solar Technology
- 9.6 LS VISION Technology
- 9.7 Pvilion
- 9.8 Solar Solutions AG
- 9.9 Soleos
- 9.10 Sun Surveillance
- 9.11 Sunlite Group
- 9.12 Sunna Design
- 9.13 TENTSXPERT
- 9.14 UBON
- 9.15 Voltaic Systems
