An off grid solar lighting system is a setup also known as a standalone solar power system. These systems are totally independent of any electric utility grid. Off grid solar lighting is mostly used in rural areas where grid electricity is not available or the cost of electricity is high. Off grid solar lighting is cost-effective, sustainable and an ideal option to reduce the carbon footprint.
MARKET SCOPE
The "Global Off Grid Solar Lighting Market Analysis 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on global market trend analysis. The report aims to provide an overview of the Off Grid Solar Lighting Market with detailed market segmentation into by product, by application, and by region. The Off Grid Solar Lighting Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Off Grid Solar Lighting Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The Off Grid Solar Lighting Market has been segmented into by product, and by application. By product the market has been bifurcated into solar lantern system, solar home system, and large solar home system. By application the market has been bifurcated into residential, commercial, and industrial.
MARKET DYNAMICS
Growth Factors
- Increasing off grid electricity demand
- Favourable government initiatives and policies
- Switching to greener alternatives
Restraints
- Lack of customer awareness
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The Off Grid Solar Lighting Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the Off Grid Solar Lighting Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the Off Grid Solar Lighting Market in these regions.
Impact Of Covid-19 On Off-Grid Solar Lighting System Market
The Covid-19 pandemic had a significant impact on the Off-Grid Solar Lighting Market. With the rise is the number of covid cases and various governments and local authorities imposed lockdown and restrictions. Significant disruptions were experienced in various manufacturing and supply-chain operations for various sectors, and the same was applied for Off-Grid Solar Lighting System Market as well. The demand for these systems reduced significantly during the outbreak as the residential, industrial and commercial projects were shut down. Since 2021 as the restrictions have started lifting the market is expected to grow slowly but steadily and recover in the coming years.
MARKET PLAYERS
The report covers vital developments in the Off Grid Solar Lighting Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the Off Grid Solar Lighting Market are anticipated to have lucrative growth opportunities in the future with the rising demand for Off Grid Solar Lighting Market. Below mentioned is the list of a few companies engaged in the Off Grid Solar Lighting Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Off Grid Solar Lighting Market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Azuri Technologies Ltd
- Eaton Corporation
- Nokero
- Omnivoltaic Power
- OSRAM
- Signify Holding
- SolarOne Solutions, Inc.
- SunMaster Solar Lighting Co., Ltd
- SunnyMoney
- Tata Power Solar Systems