The solar cooker market is gaining traction as people become more aware of the benefits of renewable energy and novel applications for it in everyday life. Solar energy has not only been demonstrated to be a viable source of energy, but high levels of growth in the solar PV market have expanded the solar energy market’s entire application segments. Solar cookers are capable of pasteurization and are particularly good at preserving the nutritional content of food. Another significant benefit of such solar cookers is their portability. The tiny size of these cookers allows them to be offered in the retail market without causing logistical problems. Costs are a big stumbling block for any renewable energy source. Solar cookers, on the other hand, are accessible at attractive prices, thus market expansion is not impeded by increased costs. Solar cookers also require very little maintenance, making them an appealing investment for homeowners.
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Market Trends
- Sino-American Silicon Products Inc. (SAS) introduced the “CelcoN” N-type high efficiency solar cell module in June 2019. These solar cells are used in a regular or bifacial module to generate an additional 10-20% of electricity from the back side.
- In countries with substantial rural populations, these cookers are likely to find a market. In the future, the growing economies of Asia Pacific and Latin America are the most promising markets for solar cookers. Europe and North America are mature markets with consistent growth prospects.
- Solar cookers have become more affordable as a result of technological improvements in the photovoltaic (PV) industry. Furthermore, over the projection period, lowering the purchase price and upgrading the products to maturity are likely to enhance the market.
- Sunlight based cookers for indoor cooking can be worked as sun oriented broilers, boxed sun based cookers, dish sun based cookers, and local area sun based cookers, contingent upon the utilization. The case type sun powered cooker is the most well known type of sunlight based cooker available. The U.S. is the main producer of sun powered cookers, trailed by China.
- These cookers may have a lot of promise in markets with a lot of rural people. Cooking is heavily reliant on LPG, wood, and cow waste in rural areas. Solar cookers may soon become a compelling value proposition for these markets due to their low cost and environmental advantages over traditional fuels.
Key Benefits of the Report
- This study presents the analytical depiction of the solar cooker industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the solar cooker market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the solar cooker market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed solar cooker market analysis based on competitive intensity and how the competition will take shape in coming years
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COVID-19 Impact analysis
- Because of the lack of materials, makers have been compelled to pick between briefly stopping or restricting creation, paying more for crude materials (and trusting that clients will pay more for their items), and searching for appropriate other options.
- So far, renewable energy has outperformed the rest of the energy sector. Nonetheless, the crisis has had a significant impact on project schedules and industries. Lockdown measures, combined with lower fuel and electricity demand, have slowed the opening of new facilities and the commissioning of new plants. At the same time, the availability of finance has decreased and investors’ risk appetite has decreased, affecting future investments and installations.
- However, not all of the consequences of the economic slowdown are negative. As more governments pledge to build a better future, efforts to decarbonize the energy sector may gain traction. This would imply a more rapid deployment of renewables, both in the power sector and elsewhere.
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