The solar blanket market size was valued at $132.4 million in 2021, and the solar blanket industry is estimated to reach $274.2 million by 2031, growing at a CAGR of 7.6% from 2022 to 2031. Solar blankets are portable power generators that are manufactured using flexible solar panels. It is available in three product types such as rectangle solar blankets, oval solar blankets, and round solar blankets. It is utilized to power the portable gadgets which are used in daily life by consumers and in the military sector by military personnel.
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Rectangle solar blankets are the most popular type of solar
blanket. The utilization of solar blankets in residential and commercial
buildings helps conserve energy. These blankets are also used to provide a warm
environment for the people residing in the buildings, especially those living
in cold environments. An oval solar blanket is a type of solar blanket that is
designed to be more efficient in covering a larger area. It is usually
rectangular in shape, with the two long sides being curved inward to form an
oval. This design helps to maximize the amount of sunlight that can hit the
blanket’s surface.
Oval-shaped solar panels are utilized as roof solar panels
in university cafes and outdoor cafes to provide power to power to the
electronic equipment present under the roof. In addition, oval-shaped solar
blankets are quite popular for outdoor camping which provides huge space for
rest and generate power that can be utilized during the evening hours.
Round-shaped solar panels are utilized to power small electronic equipment
which is widely used such as smartphones, outdoor camping equipment, and
others.
Solar blankets have a wide range of applications in the
industrial, commercial, automotive, aerospace, and others. The largest
application of solar blanket is in industry, where it is used to power
low-power electronic devices as they are embedded in buildings. The increase in
the population and rapid industrialization has led to an increase in the
investment towards the construction of various manufacturing facilities related
to the automotive and aerospace industry which have a significant impact on the
demand for power as most of the manufacturing plants are automized. Hence, the
surge in the building integrated solar blankets are utilized to power the
building. These solar blanket market trends are expected to boost the solar
blanket market opportunities during the forecast period.
However, the presence of alternatives such as conventional
solar panels which are portable has a negative impact on the development of the
market. Furthermore, the risk of utilization of solar blankets in military
operations and the presence of conventional battery packs to power devices will
hamper the market growth in the military sector.
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The solar blanket market forecast is segmented on the basis
of type, product type, application, and region. By type, the market is divided
into amorphous silicon, cadmium telluride, copper indium gallium selenide, and
others. The copper indium gallium selenide segment accounted for the largest
market share in 2021, owing to its vital role in the expansion of solar
photovoltaic capacity in unconventional areas.
By application, it is divided into industrial, residential,
automotive, aerospace, and others. The industrial segment accounted for the
largest revenue share in the global solar blanket market in 2021. The solar
blanket has a wide spectrum of applications such as powering industrial
buildings and some low-power machines during an emergency.
Region-wise, North America accounted for the largest market
share in the market and is projected to grow at a CAGR of 7.1% during the
forecast period. An increase in the investment of the government in the green
military has benefited the global solar blanket market growth.
Key players in the solar blanket industry are Alta Devices,
Enecom, Flisom, FWAVE Company Limited, SunPower Corporation, PowerFilm Solar
Inc., Sunflare, Sungold, Flagsun, and Leslie's Inc. These players have adopted
various strategies to gain a higher share or retain leading positions in the
market.
Key Findings of the Study
- As per solar blanket market analysis, on the basis of
type, the Copper Indium Gallium Selenide segment emerged as the global leader
by acquiring more than 41.5% of the solar blanket market share in 2021, and is
anticipated to continue this trend during the forecast period.
- On the basis of product type, the rectangle solar blanket segment accounted
for 52.2% of the global market share in FY2021.
- On the basis of application, the industrial segment accounted for 31.5% of
the global market share in FY2021.
- On the basis of region, North America is the major consumer of solar blankets
among other regions. It accounted for around 36.8% of the global market share
in 2021.
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IMPACT OF COVID-19 ON THE GLOBAL SOLAR BLANKET MARKET
The COVID-19 pandemic led to a decline in the demand for the
solar blanket market due to a decline in the tourism industry across the globe.
In addition, the decline in the transportation sector has had a significant
impact on the aerospace and automotive industry which led to a decline in the
demand for solar blankets. Furthermore, the outbreak of the pandemic has
created awareness among the people regarding the advantages of the utilization
of solar blankets to power portable electronic gadgets or on a large-scale
power generation which has driven the growth of the global solar blanket
market.
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Allied Analytics LLP
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