The demand for solar lighting system is gaining momentum on account of increasing government initiatives encouraging the use of renewable energy sources. Solar lighting systems are installed on highways and also used for domestic applications. The APAC region is expected to hold considerable market opportunities for the major players during the forecast period.
MARKET DYNAMICS
The solar lighting system market is anticipated to grow in the forecast period owing to driving factors such as increasing need for energy-efficient lighting systems for highways and increasing adoption of renewable energy sources. Moreover, the growing penetration of LEDs coupled with their decreasing costs is further likely to fuel the market growth. However, the lack of customer-ownership in utility-owned street lighting is a significant challenge for the solar lighting system market. On the other hand, favorable government initiatives and declining costs offer key growth opportunities for the major market players in the forecast period.
MARKET SCOPE
The "Global Solar Lighting System Market Analysis to 2028" is a specialized and in-depth study of the electronics and semiconductors industry with a special focus on the global market trend analysis. The report aims to provide an overview of solar lighting system market with detailed market segmentation by component, grid type, application, and geography. The global solar lighting system market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar lighting system market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global solar lighting system market is segmented on the basis of component, grid type, and application. Based on component, the market is segmented as hardware and software & services. The hardware segment is further segmented as solar panels, rechargeable battery, lighting fixtures, and others. On the basis of the grid type, the market is segmented as off-grid and hybrid. The market on the basis of the application is classified as highways and roadways, commercial, industrial, residential, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global solar lighting system market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The solar lighting system 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 solar lighting system market from both demand and supply side and further evaluates market dynamics affecting 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 & Central America after evaluating political, economic, social and technological factors affecting the solar lighting system market in these regions.
MARKET PLAYERS
The reports cover key developments in the solar lighting system 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 the way for the expansion of business and customer base of market players. The market players from solar lighting system market are anticipated to lucrative growth opportunities in the future with the rising demand for solar lighting system in the global market. Below mentioned is the list of few companies engaged in the solar lighting system market.
The report also includes the profiles of key solar lighting system 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 the last three years, key developments in the past five years.
- Clear Blue Technologies Inc.
- Eaton
- Exide Industries Limited
- GiantFocal
- Greenshine New Energy
- Jinhua SunMaster Solar Lighting Co., Ltd.
- Signify Holding
- Solar Lighting International, Inc.
- Solar Street Lights USA
- SolarOne Solutions, Inc.