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ASEAN Solar Lighting Market Share, Size, Analysis, Growth, Trends, Forecast: By Type: Street Light, Bulb/Tube Light, Decorative Light, Others; By Application: Residential, Commercial, Industrial, Public Sector; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
ASEAN Solar Lighting Market Outlook
The ASEAN solar lighting market size is expected to grow at a CAGR of 7.20% between 2024 and 2032. The major drivers of the market include introduction of incentives by various governments to promote the utilisation of solar operated electrical devices and the increasing demand for energy efficient lighting.
Key Trends in the Market
Solar lighting is a lighting system that is powered by the rays of sun; the solar panel collects solar energy during daytime and stores it in a battery, which then powers the light during night-time. The essential components of solar lighting include solar panels, high-efficiency fixtures, controllers, and rechargeable batteries.
- The key trends boosting the growth of the ASEAN solar lighting market include the rising demand for decorative lighting in residential and commercial sectors. Growing adoption of decorative solar lightings to increase the aesthetic appearance of homes and commercial spaces is expected to propel the growth of the market for solar lighting in the ASEAN.
- Technological advancements in solar lighting, including introduction of improved battery functioning and backup systems to allow the functioning of light for several days, is another crucial trend fuelling the growth of the ASEAN solar lighting market. Due to technological advancements, solar lighting can also be customised on the basis of weather patterns and locations.
- Another crucial trend aiding the growth of the ASEAN solar lighting market is the low cost of solar lighting systems. The cost-efficient nature of solar lighting is expected to increase their utilisation over the forecast period. The zero costs of drop meters and grid power have made the adoption of solar lighting cost effective and preferrable.
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Market Analysis
Based on type, the market is segmented into street light, bulb/tube light, and decorative light, among others. On the basis of application, the market is segregated into residential, commercial, industrial, and public sector. By country, the market is divided into Malaysia, Philippines, Singapore, Thailand, and Vietnam, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the ASEAN solar lighting market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Eliossive Sdn. Bhd.
- SOL-Lite (M) Sdn Bhd
- Greenmax Lighting Pte Ltd
- LIGMAN Lighting Co.,Ltd.
- Green Age Solar Technology
- Lekise Lighting Co., Ltd.
- Lighting And Equipment Public Company Limited
- Utica Private Limited
- FSI Vietnam Company Limited
- Minh Hung Long Production Trading Co., Ltd (Paragon)
- Others
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Market Share by Application
Residential applications of solar lighting are anticipated to account for a considerable share in the ASEAN solar lighting market in the upcoming years. This can be attributed to the unreliable supply of electricity in various regions of the ASEAN countries. Even with grid connections, round the clock provision of electricity is not assured. Solar lighting is an economical and viable solution to such uncertainties by charging at daytime and offering lighting at night-time. Additionally, growing popularity of decorative lighting is also fuelling the utilisation of solar lights in residential areas, positively contributing towards the growth of the market for solar lighting.
Market Share by Country
By country, Vietnam occupies a sizable share of the ASEAN solar lighting market due to its well established and growing network of solar power. Backed by government support for electricity availability, and strong support from the public towards clean energy, the country leads in renewable power generation for solar and wind power. Other growth opportunities of the market for solar lighting in Vietnam include government incentives, a positive investment environment, and reduced costs of solar panels in the country. Investments in renewable energy sources have increased in the past few years further aiding the growth of the market for solar lighting in Vietnam. Furthermore, the environment friendly nature of solar lighting has also increased its adoption in Vietnam.
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Competitive Landscape
Eliossive Sdn. Bhd. was established in 2011 and is headquartered in Kuala Lumpur, Malaysia. The company specialises in turnkey solar system solutions and solar lighting products. Their services encompass various solar sectors namely solar traffic management equipment for MRT projects, solar billboard lighting, solar streetlights, and on/off solar grid systems.
SOL-Lite (M) Sdn Bhd, founded in 2001 and based out of Selangor in Malaysia, specialises in solar power system products and services. Their products are customised and designed to meet the specific needs of customers and equipment. They manufacture and design PV-generator hybrids, integrated solar power systems, and grid-tie systems.
Greenmax Lighting Pte Ltd was established in 2009 and is headquartered in Bedok in Singapore. The company focuses on solar lighting and LED, with a focus on delivering eco-friendly light products that are of high quality and affordable nature. Greenmax is one of the leading market players for lighting products.
Other market players include LIGMAN Lighting Co.,Ltd., Green Age Solar Technology, Lekise Lighting Co., Ltd., Lighting And Equipment Public Company Limited, Utica Private Limited, FSI Vietnam Company Limited, and Minh Hung Long Production Trading Co., Ltd (Paragon), among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 ASEAN Solar Lighting Market Overview
8.1 Key Industry Highlights
8.2 ASEAN Solar Lighting Historical Market (2018-2023)
8.3 ASEAN Solar Lighting Market Forecast (2024-2032)
9 ASEAN Solar Lighting Market by Type
9.1 Street Light
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Bulb/Tube Light
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
9.3 Decorative Light
9.3.1 Market Share
9.3.2 Historical Trend (2018-2023)
9.3.3 Forecast Trend (2024-2032)
9.4 Others
10 ASEAN Solar Lighting Market by Application
10.1 Residential
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Commercial
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 Industrial
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Public Sector
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
11 ASEAN Solar Lighting Market by Country
11.1 Malaysia
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.1.4 Breakup by Type
11.1.5 Breakup by Application
11.2 Philippines
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.2.4 Breakup by Type
11.2.5 Breakup by Application
11.3 Singapore
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.3.4 Breakup by Type
11.3.5 Breakup by Application
11.4 Thailand
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.4.4 Breakup by Type
11.4.5 Breakup by Application
11.5 Vietnam
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.5.4 Breakup by Type
11.5.5 Breakup by Application
11.6 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyers Powers
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Eliossive Sdn. Bhd.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 SOL-Lite (M) Sdn Bhd
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Greenmax Lighting Pte Ltd
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 LIGMAN Lighting Co.,Ltd.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Green Age Solar Technology
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Lekise Lighting Co., Ltd.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Lighting And Equipment Public Company Limited
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Utica Private Limited
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 FSI Vietnam Company Limited
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Minh Hung Long Production Trading Co., Ltd (Paragon)
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. ASEAN Solar Lighting Market: Key Industry Highlights, 2018 and 2032
2. ASEAN Solar Lighting Historical Market: Breakup by Type (USD Million), 2018-2023
3. ASEAN Solar Lighting Market Forecast: Breakup by Type (USD Million), 2024-2032
4. ASEAN Solar Lighting Historical Market: Breakup by Application (USD Million), 2018-2023
5. ASEAN Solar Lighting Market Forecast: Breakup by Application (USD Million), 2024-2032
6. ASEAN Solar Lighting Historical Market: Breakup by Country (USD Million), 2018-2023
7. ASEAN Solar Lighting Market Forecast: Breakup by Country (USD Million), 2024-2032
8. ASEAN Solar Lighting Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 7.20% between 2024 and 2032.
The major market drivers include growing preference for renewable energy sources, improvements in solar power infrastructure in various countries, and an increasing demand for energy efficient solar lightings.
The key trends fuelling the growth of the market include rising demand for decorative lighting, introduction of incentives by various governments to promote the utilisation of solar operated electrical devices, technological advancements in solar lighting, and their low-cost nature.
Solar lightings are considered eco-friendly as they do not emit greenhouse gases.
What are the major countries in the solar lighting market in the ASEAN, according to the EMR report?
The major countries in the market are Malaysia, Philippines, Singapore, Thailand, and Vietnam, among others.
Solar lighting uses solar cells to convert solar energy into electricity that powers lighting.
The significant applications of solar lighting in the market include residential, commercial, industrial, and public sector.
Solar lights are considered to be green alternatives to traditional lighting and aid in providing lighting in sunlit regions without constant supply of electricity.
The various types of solar lighting in the market include street light, bulb/tube light, and decorative light, among others.
The key players in the ASEAN solar lighting market, according to the report, are Eliossive Sdn. Bhd., SOL-Lite (M) Sdn Bhd, Greenmax Lighting Pte Ltd, LIGMAN Lighting Co.,Ltd., Green Age Solar Technology, Lekise Lighting Co., Ltd., Lighting And Equipment Public Company Limited, Utica Private Limited, FSI Vietnam Company Limited, and Minh Hung Long Production Trading Co., Ltd (Paragon), among others.
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