The solar chair market is poised to provide users with portable solar energy solutions to power their portable devices on the go in an eco-friendly manner. Solar chairs are equipped with integrated solar panels that can harvest energy from sunlight and store it in an in-built battery. This stored power can then be used to charge laptops, smartphones and otherpersonal electronic devices through USB ports available on the chair. The global solar chair market offers a sustainable alternative to traditional chairs with the added advantage of generating clean energy.
The Global Solar Chair Market is estimated to be valued at US$ 2.07 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Solar Chair are Oracle Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Workday, Inc. (U.S.), Microsoft Corporation (U.S.), Sage Group plc (U.K.), Infor (U.S.), Deltek (U.S.), Acumatica, Inc. (U.S.), and Epicor (U.S.).
Key players in the Solar Chair Market Growth include Oracle Corporation, IBM Corporation, SAP SE, Workday Inc., and Microsoft Corporation who are focusing on developing innovative and advanced solar chair products to meet the growing demand.
Growing demand: The demand for solar chairs is increasing globally due to growing need for portable power solutions and rising awareness about renewable energy sources among consumers. Rapid urbanization and increasing outdoor recreational activities are also driving the sales of solar chairs.
Global expansion: Leading solar chair manufacturers are expanding their presence globally especially in developing markets to tap the high market potential. partnerships with distributors and availability across e-commerce platforms will help gain wider market coverage.
Market key trends
Battery technology improvement is a key trend in the solar chair market. Manufacturers are focusing on developing chairs with high capacity lithium-ion batteries that can store more solar energy and power devices for longer durations. Foldable and lightweight designs of solar chairs are also gaining popularity due to their portability and storage flexibility. Integration of smart features such as wireless charging, USB ports and power indicators is another upcoming trend in the solar chair industry.
Porter’s Analysis
Threat of new entrants: Solar chair market has moderate threat from new entrants as substantial initial investment and equipment are required for manufacturing.
Bargaining power of buyers: Buyers have moderate bargaining power in solar chair market as there are many established players offering substitutable products.
Bargaining power of suppliers: Suppliers of raw materials like solar panels, batteries and chair components have moderate bargaining power due to availability of substitutes.
Threat of new substitutes: Threat from substitutes like electric chairs is moderate as they provide convenience without reliance on sunlight.
Competitive rivalry: Solar chair market witnesses high competition due to presence of numerous regional and global manufacturers.
Geographical regions: North America accounts for over 35% of global solar chair market value currently due to high consumer spending and awareness about sustainable products in USA and Canada.
Asia Pacific region excluding China is growing fastest for solar chair market at a CAGR of around 8% during forecast period as countries like India and Indonesia are focusing on solar energy development and off-grid applications. Rising disposable income and hot climate also support solar chair sales.