Wilmington, Delaware, United States, June 22, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global solar cooker market was valued at US$ 2.1 billion in 2022. By 2031, the market is estimated to reach US$ 3.5 billion, growing at a CAGR of 5.4%. By using solar energy for cooking, governments will have an easier time reducing their reliance on fossil fuels, wood, charcoal, and other expensive sources of energy.
Energy independence can be achieved by communities adopting solar cookers to reduce fuel expenditures and direct savings to other economic activities. Research into renewable sources of energy has been gaining attention due to the depletion of conventional energy sources and the negative impact they have on the environment. Numerous applications in domestic and industrial sectors can be achieved with solar energy, since it is free, abundant, and easily accessible.
The act of cooking consumes the most energy of all human activities. Over the last few decades, solar-powered cooking has evolved tremendously. The performance of box type solar cookers has been improved over time by various geometrical modifications. Transparent insulating material and reflectors have greatly enhanced the performance.
Better policy implications are needed to achieve social and economic acceptance. For solar cooking to be more effective, affordable, and useful, a new approach to development is needed.
Solar cookers are also becoming more popular as a way to boil and pasteurize untreated water, especially in areas without clean water. In addition to solar box cookers and solar panel cookers, there are solar parabolic cookers available on the market, all with their own benefits and drawbacks.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 2.1 Bn | |
| Estimated Value | US$ 3.5 Bn | |
| Growth Rate - CAGR | 5.4% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 160 Pages | |
| Market Segmentation | Type, Output Power, Price, Material, Power Source, End-user, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Solar Brother, SunFlair Solar Ovens, LLC, Changzhou Raven New Energy Technology Lt, California-Sunlight.com, Go Sun, Haines Solar Cooker LLC, Solar Cookers International, Sun and Ice GmbH, Sun Fire, SunOK | |
Key Findings of the Market Report
- Solar cookers with parabolic shapes are popular because they can cook at higher temperatures than anything else.
- Consumers will prefer hybrid solar cookers for their flexibility, which will drive up demand for solar cookers.
- Due to the popularity of various e-commerce websites, demand for solar cookers is likely to rise.
- With the growing demand for residential solar cookers, they are expected to become more popular in the coming years.
- A growing awareness of the health benefits of aluminum materials is projected to increase demand for aluminum solar cookers.
Global Solar Cooker: Growth Drivers
- Demand for solar cookers is expected to rise due to the growing awareness of renewable energy and government policies that encourage the use of renewable energy. As environmental pollution concerns and new cooking technologies grow, demand is expected to rise.
- Increasing consumer demand for sleek designs and colors is expected to drive the demand for solar cookers in the market. Several technological advancements have improved the efficiency and affordability of solar cookers. Especially in regions where traditional fuel sources are limited or expensive, the market is expected to grow throughout the world.
- The energy efficiency of solar cookers is also being maximized through the use of automatic tracking models, which can track the sun throughout the day. Technology advancements, increased awareness of renewable energy, and changing consumer preferences are expected to drive strong growth in the solar cooker market in the coming years.
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Global Solar Cooker: Regional Landscape
- The growing awareness of renewable energy and the government's participation in solar energy projects in the Asia Pacific region will likely create a demand for solar cookers in the future.
- Indian consumers are likely to demand solar cookers because of improved health and economic conditions.
- Demand for solar cookers in the market is expected to grow due to an increase in outdoor activities in the North American region.
- Investing in technology and demanding research and development activities will likely grow North American demand.
- Solar cookers are set to emerge as one of the most popular products on the market due to government initiatives and European environmental regulations.
Global Solar Cooker Market: Key Players
Globally, a few big vendors control most of the market. Research and development are key to developing the best solar cookers, which are being spent significantly by market leaders.
Product innovation is the focus of manufacturers, while design and size considerations are taken into account to meet user needs. In addition to box cookers, panel cookers, parabolic cookers, and hybrids with solar energy and other fuels, hybrid cookers combine pots and pans. By choosing a cooker based on their local cooking practices and requirements, users are able to find one that meets their needs and meets their requirements.
- In 2023, the Government of India introduced the twin solar cooking solution as part of India's green energy initiatives. In addition to a fully solar charging, both cooktops in the twin-cooktop premium version can also be powered by grid-based electricity.
- In March 2023, Energy Efficiency Services Limited (EESL) will offer market-based interventions through carbon financing for the adoption of solar-powered induction cooking on a large scale. Leveraging carbon finance, the project aims to provide induction-based cookware for all beneficiaries at virtually no cost.
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Global Solar Cooker Market: Segmentation
Type
- Box Cookers
- Parabolic Reflector
- Panel Coolers
- Evacuated Tube Cookers
- Others
Output Power
- Up to 500 W
- 500 W to 1,000 W
- More Than 1,000 W
Price
- Below US$ 100
- US$ 100 - US$ 200
- Above US$ 200
Material
- Aluminum
- Steel
- Plastic
- Glass
- Others
Power Source
- Direct Solar Cooking
- Indirect Solar Cooking
- Hybrid Solar Cooking
End-user
- Residential
- Commercial
Price
- Low
- Medium
- High
Distribution channel
- Online
- E-commerce Websites
- Company-owned Websites
- Offline
- Hypermarkets & Supermarkets
- Specialty Stores
- Other Retail Stores
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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