Press release
Solar Lights Market to Reach USD 18.16 Bn by 2029, Growing at a CAGR of 10.9%
Solar Lights Market
The report presents comprehensive data on the Solar Lights Market, encompassing production, retail pricing, supply-chain details, and manufacturing costs of major key players. It analyzes various segments such as light source, offering, grid type, and application, along with their respective sub-segments. Through product penetration analysis, research and development investments, identification of new market trends, and competitive landscape assessments, the report provides valuable insights into the Solar Lights Market. The market size estimation was conducted using a bottom-up approach, collecting data through primary and secondary research methods. Primary data was gathered through interviews with market leaders and opinions from senior research analysts, while secondary data was obtained from public records and annual reports of organizations. The data was later analyzed using tools such as SWOT analysis, PORTER's five-force model, and PESTLE analysis, highlighting socio-political aspects across major geographic regions like North America, Asia Pacific, Middle East and Africa, Europe, and South America.
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What are Solar Lights Market Dynamics?
Drivers:
The Solar Lights Market is driven by the growing emphasis on renewable and clean energy systems promoted by the United Nations Environment Programme (UNEP). Solar light systems offer numerous benefits such as low maintenance, reduced utility costs, and easy installation, further boosting their popularity. Factors like eliminating the need for electricity and increased efficiency of solar devices, coupled with reduced LED costs and technological advancements, are contributing to the market's growth. Governments worldwide are promoting solar energy to address environmental crises, minimize dependency on other countries for energy, and encourage residents and the commercial sector to invest in solar panels. The market presents lucrative opportunities in rural areas, particularly in developing and developed economies with irregular electricity supply.
Restraints:
The Solar Lights Market faces some challenges, including lack of awareness about financing and customer ownership, interruption of energy supply during the night and overcast days, potential E-waste from solar light devices, and light pollution caused by the brightness of LEDs.
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Solar Lights Market Segmentation?
The commercial segment is expected to hold the largest share of the market during the forecast period. Solar lights find extensive application in indoor and outdoor lighting for commercial buildings, offering cost-effective and reliable lighting solutions. The off-grid segment is projected to grow significantly, especially in the residential sector, due to its easy installation and suitability for rural areas. Governments in developing nations are encouraging the installation of off-grid Solar Lights Devices.
by Light Source
1. LED
2. Others
by Offering
1. Hardware
2. Software & Services
by Grid Type
1. Off-grid
2.Hybrid
by Application
1. Industrial
2.Highways and Roadways
3. Residential
4. Commercial
5. Others
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Who are Solar Lights Market Key Players?
1. Signify Holding
2. Eaton Corporation
3. Sunna Design SA
4. Greenshine New Energy
5. Solar Street Lights USA
6. Engcotec GmbH
7. Koninklijke Philips N.V.
8. Fonroche Lighting America, Inc.
9. Jinhua Sunmaster Lighting Co. Ltd
10. SEPCO
11. SunMaster Solar Lighting
12. Halonix Technologies Pvt. Ltd.
13. Nokero
14. SolarOne Solutions, Inc.
15. Clear Blue Technologies Inc.
16. SOKOYO Solar Lighting Co., Ltd.
17. Tapetum India Solar
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Table of content for the Solar Lights Market includes:
Solar Lights Market : Research Methodology
Solar Lights Market : Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
Solar Lights Market : Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Solar Lights Market Segmentation
Global Market, by Light Source (2021-2029)
Global Market, by Offering (2021-2029)
Global Market, by Grid Type (2021-2029)
Regional Solar Lights Market (2021-2029)
Regional Market, by Light Source (2021-2029)
Regional Market, by Offering (2021-2029)
Regional Market, by Grid Type (2021-2029)
Regional Market, by Country (2021-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Regional Insights:
Asia Pacific is expected to dominate the market during the forecast period (2023-2029), driven by the adoption of renewable energy sources in developing economies like China, India, Australia, and South Korea. India's solar energy capacity tripled in the last five years, reflecting the region's growth in Solar Lights Manufacturers. Middle East is projected to be the second-largest shareholder, as the hot and dry climate is suitable for solar light applications, driving the Solar Lights Industry in the region.
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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