A green battery charger that uses wind or solar energy provides the user with clean power on demand as well as mobility, paving the way for lucrative market opportunities in the European renewable chargers market, according to a new analysis from Frost & Sullivan.
‘Opportunities for Green Battery Chargers,’ shows that the green charger market will grow at a compound annual growth rate of 15% from 2008 to 2014. The growth rate is expected to be slow this year due to the recession and prices for these chargers being high as compared to conventional chargers.
Moreover, awareness levels are still low, and only a select few customers prefer such products. Some chargers, such as wind and piezoelectric, are still in a pilot or pre-development stage. Growth is expected to increase toward the end of the forecast period with the increase in mobility, awareness and environmental issues. The types of battery chargers covered in this research are wind and solar chargers.
A major challenge faced by the renewable charger industry is the inability to meet the efficiency of a conventional charger. The renewable charger is moderately efficient with low power output, and at present, can be used only for portable applications, thereby limiting the manufacturers' scope in the market.
SOURCE: Frost & Sullivan