Solar Cooker Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Solar Cooker Market Analysis
The Global Solar Cooker Market is expected to grow at a CAGR of greater than 7% during the forecast period.
Due to the outbreak of the Covid-19 pandemic, the solar cooker market was slightly impacted. Due to restrictions imposed by the government of major economies to curb the further spreading of the virus, the raw material supply chain was badly affected which led to the delay in reaching raw materials to solar cooker manufacturers. Apart from these, the government funding to promote the adoption of renewable energy sources for energy generation was also reduced, because the government had shifted its focus toward healthcare resources required to fight against the pandemic. Post-COVID-19, the market is expected to come back to its previous speed with increasing funding and Government support for renewable energy projects.
The advent of technology and increasing awareness of the use of renewable sources of energy has helped in developing the global solar cooker market. Solar cookers trap solar energy and convert it into heat energy for cooking or heating purposes. These cookers are cost-effective as they do not use any fuelwood or gas connections. They may primarily be used in rural or semi-urban areas where fuel wood is the chief source of energy especially in developing or under-developed countries. Solar cookers are the most accepted application in the renewable energy industry. The only factor that affects the growth of this market is the high cost of these solar cookers and the adequate requirement of sunshine, it also takes a longer time to cook. The demand for these cookers has been continuously rising for the past few years and is expected to grow significantly during the forecasted period.
Solar Cooker Market Trends
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.
Solar Cooker Industry Overview
The Global Solar Cooker Market is consolidated. The top 5 companies own 75% of the market share. Industry Players in the Solar cookers Market are seeing the huge potential in emerging economies having large rural populations as they rely heavily on liquified petroleum gas, fuel wood, and cattle waste for cooking. This may act as a value proposition over the price offered along with environmental benefits over conventional fuels.
Solar Cooker Market Leaders
Solar Cookers International
Sun Oven
Rudra Solar Energy
Sino-American Silicon Products Inc
Sunrise Global Solar Energy
*Disclaimer: Major Players sorted in no particular order
Solar Cooker Market News
- February 2023 - The Prime Minister of India launched a twin solar cooktop on February 6. If this cooking solution reaches about 3 crore households by 2025-26, then over 7 years it would lead to savings in LPG cost by more than Rs 1 lakh crore, Forex savings of Rs 50,000 crore, CO2 emissions reduction by 50 million tonnes, and marketable carbon credits worth about Rs 4,000 crore
- June 2022 - India's top oil firm Indian Oil Corporation (IOC) unveiled a stationary, rechargeable indoor cooking stove that uses the sun's energy to cook food while always being kept in the kitchen. The stove, which entails a one-time procurement cost and has zero maintenance, is being touted as a substitute for fossil fuels.
Solar Cooker Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Box Cooker
5.1.2 Solar Panel Cooker
5.1.3 Solar Parabolic Cooker
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Solar Cookers International
6.2.2 Sun Oven
6.2.3 Rudra Solar Energy
6.2.4 Sino-American Silicon Products Inc
6.2.5 Haines Solar Cookers LLC
6.2.6 Sunrise Global Solar Energy
6.2.7 Sun Fire
6.2.8 GoSun Inc.
6.2.9 Cantinawest
6.2.10 One Earth Designs Limited*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Solar Cooker Industry Segmentation
A solar cooker is a device that uses direct sunlight energy to cook food materials or pasteurize drinks. Many solar cookers currently in the use are relatively inexpensive, while some are as expensive and advanced as traditional stoves. The solar cooker does not require fuel and operating costs and therefore, it has gained popularity among developing nations.
The Global Solar Cooker Market is segmented by By Product Type (Box Cooker, Solar Panel Cooker, and Solar Parabolic Cooker), By Application (Residential and Commercial), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The report offers Market size and forecasts for Global Solar Cooker Market in value (USD Million) for all the above segments.
| By Product Type | |
| Box Cooker | |
| Solar Panel Cooker | |
| Solar Parabolic Cooker |
| By Application | |
| Residential | |
| Commercial |
| By Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Solar Cooker Market Research FAQs
What is the current Solar Cooker Market size?
The Solar Cooker Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Solar Cooker Market?
Solar Cookers International, Sun Oven, Rudra Solar Energy, Sino-American Silicon Products Inc and Sunrise Global Solar Energy are the major companies operating in the Solar Cooker Market.
Which is the fastest growing region in Solar Cooker Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Solar Cooker Market?
In 2024, the Europe accounts for the largest market share in Solar Cooker Market.
What years does this Solar Cooker Market cover?
The report covers the Solar Cooker Market historical market size for years: . The report also forecasts the Solar Cooker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Solar Cooker Industry Report
Statistics for the 2024 Solar Cooker market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Solar Cooker analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
