Solar Generator Market Size - By Capacity (≤ 1,000 W, > 1,000 W - 2,000 W, > 2,000 W - 3,000 W, > 3,000 W), By Phase (Single, Three), By Application (Residential, Commercial) & Forecast, 2024 – 2032

Solar Generator Market Size

Solar Generator Market size was valued at USD 570.1 million in 2023 and is estimated to grow at a CAGR of 11.5% between 2024 and 2032. Increasing consumer awareness toward environment issues coupled with surging demand for renewable energy sources will positively sway the business scenario. For instance, the solar power generation across the U.S. reached a mark of 145,598 GWh in 2022.
 

A solar generator is a device that harnesses sunlight to produce electrical power using solar panels. These generators typically consist of photovoltaic cells that convert sunlight into electricity, which is stored in batteries for later use. Ongoing technological advancements have led to more efficient and affordable solar panels and energy storage solutions, accelerating the industry potential.
 

Solar Generator Market Trends

The energy efficiency & conservation practices among urban and suburban con‘sumers are anticipated to drive the adoption of solar generators. The rising fuel prices and the lack of availability of alternative fuel will fuel the product penetration. Moreover, the competitiveness of solar energy in residential applications will incentivize investors to seek a stable political framework for the storage, generation, and self-consumption of solar energy, thereby accelerating the industry's potential.
 

Solar Generator Market Analysis

The ≤ 1,000 W rated solar generator market is set to exceed USD 300 million by 2032. Wide scale utilization of these units to handle diverse tasks, from charging devices to running small appliances offer significant opportunities for business expansion. Increasing frequency of natural disasters and power outages has led to greater interest in backup power solutions, which in turn will escalate the industry growth.
 

The residential solar generator market will witness growth rate of over 11% through 2032. Integration of these systems with smart technology and mobile apps has made them user-friendly and convenient option for the consumers. The product offers key advantages including remote monitoring, power tracking, and automated controls, stimulating the business potential. Increasing concerns about climate change coupled with shifting consumer focus toward utilization of solar power will energize the business dynamics.
 

The North America solar generator sets market will surpass USD 550 million by 2032. Favorable government incentives, tax credits and rebates toward the adoption of renewable energy technologies will augment the business landscape. Increasing consumer inclination to reduce their reliance on the grid and lower their electricity bills will further energize the industry dynamic. Increasing prevalence of remote work coupled with shifting trend towards off-grid living will drive the product deployment.

Solar Generator Market Share

Goal Zero is one of the notable participants in the solar generator industry, recognized for its commitment to providing portable and reliable power solutions. The company has gained prominence for its innovative products designed for outdoor enthusiasts, emergency preparedness, and off-grid living. It focuses on intelligent and user-friendly designs, integrating cutting-edge technology to offer efficient energy solutions.
 

Solar Generator Market Companies

The key industry players include:

• ACOPOWER
• Anern
• Anker
• Aton Solar
• Bluetti
• Custom Manufacturing & Engineering, Inc.
• EcoFlow
• Goal Zero
• GROWATT
• HomeGrid
• Humless
• Inergy
• Jackery
• Lion Energy
• Maxoak Corporation
• Milesolar
• Nature's Generator
• Oukitel
• OUPES
• Powerenz
• PowerOak
• Renogy
   

Solar Generator Industry News

• In January 2024, Goal Zero unveiled theri latest Yeti 300, 500, and 700 power stations, with upgraded LiFePO4 batteries, rugged designs with mud flaps, higher AC output, and faster charging. Generators cater to outdoor activities with versatile applications, including camping, beach outings, and tailgate parties. With impressive lifespans, fast charging capabilities, and durability against environmental elements, they provide robust off-grid power solutions, complemented by Goal Zero's array of solar panels.
   
• In January 2024, Jackery revealed, the Solar Generator Mars Bot, earned TIME's Best Inventions of 2023 award. Inspired by Mars rover Opportunity, it integrates solar panels, an energy storage system, and a Sunflower Solar Tracker for optimal charging. The foldable design, robust construction, and diverse applications showcase Jackery's commitment to clean energy innovation, with additional products like the Solar Generator for Rooftop Tent and Solar Generator 1000 Plus (Galaxy) emphasizing sustainability and versatility in portable energy solutions.
   

The solar generator market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2019 to 2032, for the following segments:

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Market, By Phase

• Single
• Three

Market, By Capacity

• ≤ 1,000 W
• > 1,000 W - 2,000 W
• > 2,000 W - 3,000 W
• > 3,000 W

Market, By Application

• Residential
• Commercial

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Italy
  • Poland
  • Netherlands
  • Austria
  • France
  • Spain
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Philippines
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Egypt
  • Nigeria
  • Israel
• Latin America
  • Brazil
  • Chile
  • Mexico