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Global Pico-Solar Market Share, Growth, Size, Industry Analysis, Forecast: By Application: Multi-Purpose, Single-Purpose, Others; By End Use: Residential, Commercial, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Pico-Solar Market Outlook
The global pico-solar market attained a value of USD 308.97 million in 2023. The market is estimated to grow at a CAGR of 12.4% during 2024-2032 to reach a value of USD 632.74 million by 2032.
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Market Segmentation
A pico-solar system is described as a small PV system, which is much smaller than regular home systems, with a power output of 1 to 10W, used primarily for lighting and, therefore, capable of replacing unhealthy and unreliable sources such as kerosene lamps and candles. Pico-solar systems can be used in portable products like small lights, toys, mp3 players, cell phones, calculators, and tablets, among others. Small ICT applications may also be introduced depending on the model. Pico solar systems contain a charge controller and photovoltaic module, along with a rechargeable battery.
The pico-solar market can be divided based on segments like application and end-use.
The industry can be broadly categorised on the basis of its application into:
- Multi-Purpose
- Single-Purpose
- Others
The market can be divided based on its end-use as:
- Residential
- Commercial
- Industrial
The EMR report looks into the global pico-solar markets like Americas, Asia Pacific and Europe, Middle East and Africa (EMEA).
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Market Analysis
One of the main factors boosting the growth of the pico-solar industry size is the increasing demand for energy. The objective of sustainable development (SDG) was to ensure universal access to affordable, secure, and efficient energy services by 2030. There is, however, a pause in attempts to do the same. There is no access to electricity for the majority of people in sub-Saharan Africa (SSA). Throughout Asia, there have also been issues with access to reliable energy in some nations. As a result, off-grid renewable energy solutions such as pico-solar in the regions are becoming increasingly focused. Pico-solar is a viable solution for electrification. It is quickly scalable and sustainable in the environment. It also has the ability to strengthen rural communities. It is expected that these factors will drive the pico-solar market growth over the forecast period.
The pico-solar market is expected to be supported by platforms like World Banks Group’s Lighting Global. Also contributing to the market growth will be the upcoming pico-solar market trends, such as rapid growth in the adoption of portable devices. The increasing need for efficient charging in portable devices and their growing sales will have a positive impact on the industry growth in focus. The rising market for pico-solar chargers is also expected to drive the pico-solar market growth.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global pico-solar market, looking into their capacity, and competitive landscape:
- Sun King
- Signify N.V.
- Shenzhen Power-Solution Ind Co., Ltd
- Fosera Solarsystems GmbH & Co. KGaA
- d.light Limited
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
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 Application |
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| Breakup by End Use |
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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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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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 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
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Pico-Solar Market Analysis
8.1 Key Industry Highlights
8.2 Global Pico-Solar Historical Market (2018-2023)
8.3 Global Pico-Solar Market Forecast (2024-2032)
8.4 Global Pico-Solar Market by Application
8.4.1 Multi-Purpose
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Single-Purpose
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Pico-Solar Market by End Use
8.5.1 Residential
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Industrial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Pico-Solar Market by Region
8.6.1 Americas
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Asia Pacific
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Europe, Middle East and Africa (EMEA)
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
9 Americas Pico-Solar Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Brazil
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Asia Pacific Pico-Solar Market Analysis
10.1 India
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 ASEAN
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Europe, Middle East and Africa Pico-Solar Market Analysis
11.1 Kenya
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Ethiopia
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Nigeria
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Uganda
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Tanzania
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Cameroon
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Germany
11.7.1 Historical Trend (2018-2023)
11.7.2 Forecast Trend (2024-2032)
11.8 United Kingdom
11.8.1 Historical Trend (2018-2023)
11.8.2 Forecast Trend (2024-2032)
11.9 France
11.9.1 Historical Trend (2018-2023)
11.9.2 Forecast Trend (2024-2032)
11.10 Italy
11.10.1 Historical Trend (2018-2023)
11.10.2 Forecast Trend (2024-2032)
11.11 Spain
11.11.1 Historical Trend (2018-2023)
11.11.2 Forecast Trend (2024-2032)
11.12 The Netherlands
11.12.1 Historical Trend (2018-2023)
11.12.2 Forecast Trend (2024-2032)
11.13 Belgium
11.13.1 Historical Trend (2018-2023)
11.13.2 Forecast Trend (2024-2032)
11.14 Poland
11.14.1 Historical Trend (2018-2023)
11.14.2 Forecast Trend (2024-2032)
11.15 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 Buyer’s Power
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 Value Chain Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Sun King
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 M-KOPA Group
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Signify N.V.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Shenzhen Power-Solution Ind Co., Ltd
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Fosera Solarsystems GmbH & Co. KGaA
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 d.light Limited
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Others
List of Key Figures and Tables
1. Global Pico-Solar Market: Key Industry Highlights, 2018 and 2032
2. Global Pico-Solar Historical Market: Breakup by Application (USD Million), 2018-2023
3. Global Pico-Solar Market Forecast: Breakup by Application (USD Million), 2024-2032
4. Global Pico-Solar Historical Market: Breakup by End Use (USD Million), 2018-2023
5. Global Pico-Solar Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Global Pico-Solar Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Pico-Solar Market Forecast: Breakup by Region (USD Million), 2024-2032
8. Americas Pico-Solar Historical Market: Breakup by Country (USD Million), 2018-2023
9. Americas Pico-Solar Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Asia Pacific Pico-Solar Historical Market: Breakup by Country (USD Million), 2018-2023
11. Asia Pacific Pico-Solar Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe, Middle East, and Africa Pico-Solar Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe, Middle East, and Africa Pico-Solar Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Global Pico-Solar Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of over 12.4% between 2024 and 2032.
The major drivers of the market include the scalability and sustainability in the environment, increasing need for efficient charging in portable devices and their growing sales, and rising market for pico-solar chargers.
The increasing demand for energy and the fast growth in the adoption of portable devices are the key market trends propelling the market's growth.
The major regions in the market are Americas, Asia Pacific, and Europe, Middle East and Africa.
Pico-solar find their major application in a multi-purpose and single-purpose, among others.
The industry can be divided based on its end-use as residential, commercial, and industrial.
The major players in the market are Sun King, Signify N.V., Shenzhen Power-Solution Ind Co., Ltd, Fosera Solarsystems GmbH & Co. KGaA, d.light Limited, among others.
Analyst Review
The global pico-solar market attained a value of USD 308.97 million in 2023. The market is estimated to grow at a CAGR of 12.4% during 2024-2032 to reach a value of USD 632.74 million by 2032.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Pico-solar finds their major application in multi-purpose and single-purpose, among others. The market can be divided based on its end-use as residential, commercial, and industrial. The major regional markets for pico-solar market are Americas, Asia Pacific and Europe, Middle East and Africa (EMEA). The major players in the market are Sun King, Signify N.V., Shenzhen Power-Solution Ind Co., Ltd, Fosera Solarsystems GmbH & Co. KGaA, d.light Limited, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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