Sep 28, 2020   SOURCE: BusinessWire

$3.20 Billion Solar Cooker Market - Global Industry Perspective, Comprehensive Analysis and Forecast to 2026 - ResearchAndMarkets.com

The "Solar Cooker Market - Global Industry Perspective, Comprehensive Analysis and Forecast 2020-2026" report has been added to ResearchAndMarkets.com's offering.

Global demand for solar cooker market was valued at approximately USD 1,845.0 Million in 2019, and is expected to generate revenue of around USD 3,209.3 Million by end of 2026, growing at a CAGR of around 8.7% between 2020 and 2026.

Growing awareness for the use of renewable energy along with escalating prices of non renewable energy drives the solar cooker market. Government support and funding for the use of solar energy also stimulates the growth of solar cooker market. Also, development of new technologies utilizing solar energy along with introduction of cost efficient technologies compared to conventional energy sources foster the demand for the solar cooker market. However, lack of awareness among the developing countries and maturation of the solar cooker market in the developed countries may inhibit the growth of solar cooker market. Nevertheless, untapped opportunities from the emerging economies are likely to open new avenue in the near future.

The report provides a comprehensive view on the solar cooker market we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter's Five Forces model for the solar cooker market has also been included. The study encompasses a market attractiveness analysis, wherein type segments are benchmarked based on their market size, growth rate and general attractiveness. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.

Various types of solar cooker are designed according to the intensity of exposure to the sun and according to the type of food to be cooked in. Solar panel cooker, solar parabolic cooker and solar box cooker are the types of solar cooker. Solar box cooker is the most widely known and used cooker due to easy and safe operating with no regulation required. The solar panel cooker consists of vessel kept in the center of the reflective panel to concentrate the radiations on the vessel. The solar panel is highly efficient as compared to solar box cooker. For obtaining high temperatures for grilling and frying food solar parabolic cooker is utilized. The only drawback for using of parabolic cookers is, they need to be adjusted according to the sun rays frequently for achieving high temperature and efficiency.

Asia Pacific and Latin America are the fastest growing market for the solar cooker market and is expected to accelerate the growth rate in the coming years. This is mainly attributed to the factors such as rising awareness along with accomplishment from the government for developing techniques for the use of solar energy. To meet the unmet demands for petroleum products such as use of LPG for cooking food from the escalating population, solar cooker are used on large scale. However, due to saturated market, North America and Europe are expected to exhibit steady growth during the forecast period. However, the U.S. is the largest producer for solar box cooker followed by China.

Scope of the Report

Key Players in the Market:

  • Solar Cookers International
  • Sunrise Global Solar Energy
  • Sun Fire Rudra Solar Energy
  • Sun Oven

Solar Cooker Market: Type Segment Analysis

  • Solar panel cooker
  • Solar parabolic cooker
  • Solar box cooker

Solar Cooker Market: Regional Segment Analysis

  • North America
  • U.S.
  • Europe
  • UK
  • France
  • Germany
  • Asia Pacific
  • China
  • Japan
  • India
  • Latin America
  • Brazil
  • Middle East & Africa

For more information about this report visit https://www.researchandmarkets.com/r/z5j1n6