Solar home lights are powered by solar cells, which convert solar energy, or sunlight, directly to electricity. The energy is stored in batteries and used for lighting whenever it is needed. Solar lighting is cost-effective, requires no maintenance, and is a safer, brighter alternative to kerosene. The need for fossil fuels is expected to rise in the coming years, owing to an increase in global power consumption. Rapid industrialization has had a significant impact on the environment, resulting in a rise in global temperatures on both the land surface and in water bodies.
MARKET DYNAMICS
The rise in power demand from residential and industrial customers is on the horizon, as is the extensive use of fossil fuels, which comes at a high cost to the environment in the form of greenhouse gas emissions. The utilisation of renewable energy sources such as solar, wind, and hydro power is predicted to significantly reduce greenhouse gas emissions while also assisting in the achievement of the objective of creating a sustainable environment.
MARKET SCOPE
The "Global Solar Home Lighting Equipment Market Analysis to 2028" is a specialized and in-depth study of the solar home lighting equipment market with a special focus on the global market trend analysis. The report aims to provide an overview of the solar home lighting equipment market with detailed market segmentation by type application, and geography. The global solar home lighting equipment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar home lighting equipment market players and offers key trends and opportunities in the solar home lighting equipment market.
MARKET SEGMENTATION
The global solar home lighting equipment market is segmented based on type and application. Based on type, solar home lighting equipment market is segmented into off-grid solar and grid-tied solar. Based on application, solar home lighting equipment market is segmented into city and countryside.
IMPACT OF COVID-19 ON SOLAR HOME LIGHTING EQUIPMENT MARKET
The COVID-19 outbreak has put numerous sectors in a difficult position. The coronavirus outbreak has had a severe influence on the global solar home lighting sector. Many countries rely on China for the import of materials needed for renewable energy equipment. The supply chain has been impacted by prohibited transportation due to the cancellation of transportation infrastructure. The United States and Europe, for instance, rely heavily on China for low-cost solar photovoltaic (PV) modules. Manufacturing plants are closing all around the world, which has had a detrimental impact on market growth. However, after the pandemic is over, the market is expected to reclaim its prominence.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Solar Home Lighting Equipment Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Solar Home Lighting Equipment Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Solar Home Lighting Equipment Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the solar home lighting equipment market in these regions.
MARKET PLAYERS
The reports cover key developments in the solar home lighting equipment 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 partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from solar home lighting equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for solar home lighting equipment market. Below mentioned is the list of few companies engaged in the solar home lighting equipment market.
The report also includes the profiles of key solar home lighting equipment market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
-Oxbow Corporation
-Suncor Energy Inc.
-Phillips 66 Company
-Aminco Resources LLC
-Nippon Coke & Engineering. Co., Ltd.
-Petroleum Coke Industries Company
-Renelux Cyprus Ltd.
-Graphite India Limited
-British Petroleum
-Marathon Petroleum Corporation