by The solar chair allows its user to charge their electronic devices using renewable solar energy while sitting outdoors. Equipped with USB ports and integrated solar panels, these chairs harvest energy from the sun and store it in an internal battery that can be used to charge phones, tablets, and other gadgets. Their eco-friendly design makes them attractive for outdoor events, parks, community spaces, etc. They come in various styles from foldable and portable to fixed outdoor varieties suitable for homes and commercial settings.
The global Solar Chair Market is estimated to be valued at Us$ 2.07 Mn in 2023 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing demand for eco-friendly products is expected to drive the growth of the solar chair market over the forecast period. With growing environmental awareness, consumers are looking for sustainable options in both indoor and outdoor furniture that have minimal impact on nature. Solar chairs provide an efficient way to power devices outdoors through renewable solar energy instead of batteries, reducing electronic waste. In public areas like beaches, parks, event venues etc., solar chairs can offer a convenient charging facility to the visitors enhancing their experience. Growing outdoor recreational activities like camping, picnicking, sports etc. also provide a boost to the market growth. Additionally, the development of advanced solar panel technologies that are more efficient at harvesting energy even on cloudy days along with lightweight and durable design of chairs will positively influence their adoption rate over the coming years.
Segment Analysis
The global solar chair market is segmented on the basis of product type, battery capacity, distribution channel and geography. Based on product type, the solar chair market is segmented into foldable solar chair and non-foldable solar chair. The foldable solar chair segment dominates the market as it offers portability along with its compact size making it ideal for camping, beaches, and picnic places. Based on battery capacity, the market is segmented into up to 10,000 mAh, 10,001-15,000 mAh, 15,001-20,000 mAh and above 20,000 mAh. The 15,001-20,000 mAh segment dominates the market as it provides sufficient charge for small electronics.
PEST Analysis
Political: The governments across various countries are promoting the use of renewable energy sources through various initiatives and policies. This is positively impacting the growth of the global solar chair market.
Economic: Rising disposable incomes and changing lifestyles have increased outdoor recreational activities like camping and hiking, thereby driving demand for solar chairs.
Social: Increasing health awareness and growing popularity of outdoor recreational activities among millennials and generation Z is fueling market growth.
Technological: Advancements in solar panel technology have enhanced the energy harvesting and charging capabilities of solar chairs. Meanwhile, compact size and lightweight frames allow easy portability.
Key Takeaways
The Global Solar Chair Market Demand is expected to witness high growth owing to increasing outdoor recreational activities around the world. The global solar chair market is estimated to be valued at US$ 2.07 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.
Regionally, North America dominates the market currently due to rising camping and hiking trend. Meanwhile, Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing health awareness in countries like India and China.
Key players operating in the solar chair market are Oracle Corporation (U.S.),IBM Corporation (U.S.),SAP SE (Germany),Workday, Inc. (U.S.),Microsoft Corporation (U.S.). Key players are focused on developing innovative and compact solar chairs to cater to changing consumer demands. They are also expanding their distribution channels through e-commerce platforms for better market penetration.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
