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Solar Cooker Market to Witness Strong Growth in Emerging Economies

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Published on : Jan 21, 2016

The global solar cooker market is projected to enjoy significant growth in the coming few years. This market is driven by the rising demand for clean energy technologies. The awareness regarding depleting fossil fuels, air pollution issues related to greenhouse gas emissions, and increasing innovation in alternative energy markets is fueling demand for clean energy. However, cost is a major issue with any form of renewable energy.

On the other hand, this is not an issue for the global solar cooker market. Solar cookers are available in the market at attractive prices and the growth of the market is not suppressed due to cost issues. Furthermore, solar cookers are extremely low on maintenance and this makes them even more attractive in the long term due to its cost-effectiveness. Hence, solar cookers are attractive investments for households.

Manufacturing solar cookers calls for very little expenditure. This provides a profitable opportunity to companies planning to enter the global solar cooker market. Furthermore, with the rising prices of natural gas and liquid petroleum gas around the world, there is a surge in demand for alternative fuels for domestic purposes. Presently, LPG is a major source of fuel used for cooking purposes in emerging countries. Hence, these countries are the most attractive markets for companies operating in the global solar cooker market.

Solar cookers will help substantially decrease the consumption of fossil fuels in these economies and also drive energy security. Countries in Latin America and Asia Pacific have large rural population base and hence are prospective markets for solar cookers. These regions are relying on LPG massively. Solar cookers offer an attractive value proposition to consumers in these regional markets. On the other hand, North America and Europe are mature markets for solar cooker and will exhibit a steady growth. The global solar cooker market is expected to enjoy strong growth in APAC and Latin America in the coming few years.

Nevertheless, the global solar cooker market is suppressed by the need to adjust the cooker frequently. In order to achieve maximum efficiency, parabolic cookers need angle adjustments quite frequently. However, once adjusted properly, parabolic solar cookers generate and sustain higher cooking temperatures as compared to a box or panel type of cooker.