SOLAR BENCH MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Due to the limitation of fossil fuels, there is rising demand for solar-powered products. Solar energy is used for various applications such as solar panels for lights, solar water heaters, solar benches, and others. Solar benches are some of the novel products introduced in the solar industry. In a solar bench, solar panel receives direct sunlight which is then converted to a direct current (DC) using photovoltaic cells. The direct current (DC) goes to the battery through the battery controller which stops the battery from overflowing. For alternating current (AC), the battery provides DC supply to the alternator which converts DC into AC.  A solar bench offers additional features such as mobile charging (both wired and wireless), USB ports, and internet connectivity 4G and Wi-Fi and ambient light. These features run on solar energy.

Due to depletion of fossil fuels, a wide gap in the supply and demand of energy is expected to form in the near future. The overconsumption of fossil fuels is one of the major reasons for global warming which is why governments across the globe are focussing on clean energy sources such as solar energy. For instance, India’s Ministry New and Renewable Energy is planning to install 100000 MW solar power in the country by 2020 to reduce India’s dependency on fossil fuels.

Factors Driving Growth of the Global Solar Bench Market:

Increasing number smart cities projects across the globe are expected to contribute significantly to growth of the solar bench market. Solar benches are used to collect various types of data. For instance, solar benches can collect data of present noise levels, air quality levels, etc. This data is then utilised by a country’s government to plan further development techniques. Smart cities projects are still in the nascent stages, however the demand for solar benches is expected to increase over forecast period. For instance, in October 2017, Include Ltd., a Europe-based start-up, installed six solar benches outside a police station in Dubai.

Furthermore, the overall growth of the solar market is expected to facilitate demand for solar benches over the forecast period. For instance, according to a report published by the International Energy Agency, a Paris-based autonomous intergovernmental organization, in 2019, around 877 GW electricity will be generated by using solar cells between 2019 and 2024.

Global Solar Bench Market : Regional Insights:

On the basis of region, the solar bench market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Europe region is expected to hold the major share in the global solar bench market in 2019 owing to the presence of a large number of key players in the region such as The Solar Range, SEEDiA, Include Ltd, InfraMarks, Haptic.ro, Strawberry Energy and others.

• In December 2019, Seedia, Europe based company, partnered with Microsoft Corporation. Seedia is expected to provide solar bench for Microsoft’s project “City of the future”.
• In June 2018, EnGo Planet installed new solar benches in New York City.
• In 2017, Strawberry Energy installed solar benches in London in collaboration with The Institute of Cancer Research, London, Ford UK, and others.

Moreover, Asia Pacific is expected to be the fastest growing region in the global solar bench market over the forecast period owing to increasing number of smart city projects in countries such as China and India. For instance, in 2015, the government of India launched the Smart Cities Mission. According to the mission, India will develop 100 smart cities across the country.

Key Players in the Global Solar Bench Market:

Prominent players in the market include EnGoPlanet, The Solar Range, SEEDiA, Include Ltd, InfraMarks, Haptic.ro, Strawberry Energy, Velopa, archiexpo and others

Global Solar Bench Market: Taxonomy

Global Solar Bench Market by Component:

• Software-based Solution
• Hardware-based Solution
• Solar module
• Battery
• Battery Controller
• DC to AC converter
• Sensors
• Others

Global Solar Bench Market by Application:

• Parks
• Sidewalks
• City Square
• Train Station
• College Campus
• Business Parks
• Shopping Mall
• Others

Global Solar Bench Market by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa