Market Trends of Solar Cooker Industry
This section covers the major market trends shaping the Solar Cooker Market according to our research experts:
Growing Awareness of the Use of Renewable Energy is Driving the Market
Growing awareness for the use of renewable energy along with escalating prices of non-renewable energy drives the solar cooker market. The solar cooker market is gaining growth as people become more aware of the benefits of renewable energy and its 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. Government support and funding for the use of solar energy also stimulate the growth of the solar cooker market.
The development of new technologies utilizing solar energy along with the introduction of cost-efficient technologies compared to conventional energy sources fosters the demand for the solar cooker market. 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.
Asia Pacific is the Fastest Growing Market for Solar Cookers
Asia Pacific is the fastest-growing solar cooker market and is expected to maintain dominance during the forecasted period. Rising awareness of renewable energy along with the accomplishments from the government for the use of solar energy. To meet the unmet demands for petroleum products such as the use of LPG for cooking food from the escalating population, solar cookers are used on large scale. However, due to the saturated market, North America and Europe are expected to exhibit steady growth during the forecast period. However, the U.S. is the largest producer of solar box cookers followed by China.
