Solar chair refers to a type of portable outdoor chair equipped with built-in solar panels. These solar panels allow the chair to harness solar energy and store it in an integrated battery. The stored power can then be used to charge electronic devices like smartphones and power banks. Solar chairs have armrests that double up as panels to absorb sunlight and convert it into electricity. They provide users with an eco-friendly option for powering electronics outdoors.

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 Dynamics:

One of the key drivers for the growth of the solar chair market is the increasing popularity of solar powered products. Consumers are increasingly looking for sustainable and eco-friendly solutions to power their devices on the go. Solar chairs enable users to charge devices without the need for battery replacements or electrical outlets. The built-in battery storage allows power on demand even without direct sunlight. Additionally, factors such as growing outdoor activities, rising disposable incomes, and increasing environmental awareness are also fueling demand for solar chairs globally. However, high initial costs and availability of substitute charging solutions continue to restrain the market to a certain extent.

SWOT Analysis
Strength: The Solar Chair Market is expected to witness growth due to increasing awareness regarding renewable energy sources. The solar chairs are eco-friendly and provide mobility as well as power generation capabilities. They are suitable for outdoor activities like camping, hiking etc. The solar panels integrated in the chairs make them self-sustainable without the need for electricity cords.
Weakness: Currently the prices of solar chairs are on the higher side which limits their adoption rate. The manufacturing of solar chairs with extensive integration of solar panels and batteries also increases the product cost. Solar charges may not provide continuous power usage and require sunlight for charging the batteries.
Opportunity: Governments across regions are supporting the use of renewable energy through various incentives and subsidies. This will encourage the adoption of solar powered products like solar chairs. With technological advancements, the costs of solar panels and batteries are decreasing which will make solar chairs more affordable. Growing outdoor recreational activities are also generating demand for portable solar powered products.
Threats: Fluctuations in raw material prices adversely impact the manufacturing costs. Established players in the conventional furniture industry pose competition to solar chair producers. Adverse weather conditions like heavy rains or lacks of direct sunlight can affect the power output and charging capability of solar chairs.


Key Takeaways

The global Solar Chair Market Share is expected to witness high growth over the forecast period. The increasing awareness regarding use of renewable energy sources and support from governments will drive the demand.

Regional analysis: Asia Pacific region dominates the global solar chair market currently and is expected to maintain its lead over the forecast period. Countries like China, India and Japan are major manufacturers and consumers. Rising disposable incomes, outdoor recreational activities and supportive government policies are augmenting the adoption of solar chairs in the region. Europe and North America are other prominent markets and their emphasis on renewable energy is fueling 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. These companies are focusing on new product launches, partnerships and expanding their distribution channels to gain market share. For instance, EcoFlow introduced gamma portable power stations with improved battery storage capacities.

For more insights, read- https://dailynewsmotion.weebly.com/report-blog/solar-chair-market-is-estimated-to-witness-high-growth-owing-to-increasing-popularity-of-solar-powered-products

 

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