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Market Outlook
The global solar lighting system market attained a value of about USD 5.5 billion in 2019. The market is further expected to grow in the forecast period of 2020-2025 at a CAGR of 15.8% to reach USD 13.3 billion by 2025. The market is primarily being driven by the rising use of renewable energy for lighting. The Asia Pacific is the fastest growing region due to the increasing demand for renewable energy.
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Properties and Applications
The systems that use sunlight as a source to produce light, as well as charge lighting sources, are known as solar lighting system.
The market can be divided on the basis of offerings into hardware, software, and services.
Hardware can be further divided into:
The light source can be classified as LED and others. The grids in the market can be grouped into off-grid and hybrid. The market can be broadly categorised on the basis of its applications into:
The EMR report looks into the regional markets of solar lighting system like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The key factors driving the market growth include the increasing demand for energy-efficient solar lighting systems for highways, increased use of renewable energy for lighting purposes, increased penetration and lower costs for LEDs and increased demand from developed and emerging countries. In addition, the underlying market opportunities include a decrease in solar lighting cost, advantageous government initiatives, as well as improved technology in a solar lighting system.
LED is the leading type of light source and is likely to grow at a higher rate in the forecast period, owing to it being eco-friendly and durable compared to others. The application sector is being dominated by the commercial segment.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global solar lighting system market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Questions Answered in the Market Report:
1 Preface
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.4 Assumptions
2.5 Market Models
3 Introduction
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Solar Lighting System Market Analysis
6.1 Global Solar Lighting System Historical Market (2015-2019) & Forecast (2020-2025)
6.2 Global Solar Lighting System Market Breakup by Offering
6.2.1 Hardware
6.2.1.1 Solar/PV Panels
6.2.1.2 Lighting Fixtures
6.2.1.3 Rechargeable Battery
6.2.1.4 Others
6.2.2 Software & Services
6.3 Global Solar Lighting System Market Breakup by Offering: Historical Market (2015-2019) & Forecast (2020-2025)
6.3.1 Hardware
6.3.1.1 Solar/PV Panels
6.3.1.2 Lighting Fixtures
6.3.1.3 Rechargeable Battery
6.3.1.4 Others
6.3.2 Software & Services
6.4 Global Solar Lighting System Market Breakup by Light Source
6.4.1 LED
6.4.2 Others
6.5 Global Solar Lighting System Market Breakup by Light Source: Historical Market (2015-2019) & Forecast (2020-2025)
6.5.1 LED
6.5.2 Others
6.6 Global Solar Lighting System Market by Grid Type
6.6.1 Off-Grid
6.6.2 Hybrid
6.7 Global Solar Lighting System Market by Grid Type: Historical Market (2015-2019) & Forecast (2020-2025)
6.7.1 Off-Grid
6.7.2 Hybrid
6.8 Global Solar Lighting System Market by Application
6.8.1 Highways and Roadways
6.8.2 Industrial
6.8.3 Commercial
6.8.4 Residential
6.8.5 Others
6.9 Global Solar Lighting System Market by Application: Historical Market (2015-2019) & Forecast (2020-2025)
6.9.1 Highways and Roadways
6.9.2 Industrial
6.9.3 Commercial
6.9.4 Residential
6.9.5 Others
6.10 Global Solar Lighting System Market by Region
6.10.1 North America
6.10.1.1 United States of America
6.10.1.2 Canada
6.10.2 Europe
6.10.2.1 Germany
6.10.2.2 United Kingdom
6.10.2.3 France
6.10.2.4 Italy
6.10.2.5 Others
6.10.3 Asia Pacific
6.10.3.1 China
6.10.3.2 Japan
6.10.3.3 India
6.10.3.4 ASEAN
6.10.3.5 Others
6.10.4 Latin America
6.10.4.1 Brazil
6.10.4.2 Argentina
6.10.4.3 Mexico
6.10.4.4 Others
6.10.5 Middle East & Africa
6.10.5.1 Saudi Arabia
6.10.5.2 United Arab Emirates
6.10.5.3 Nigeria
6.10.5.4 South Africa
6.10.5.5 Others
6.11 Global Solar Lighting System Market by Region: Historical Market (2015-2019) & Forecast (2020-2025)
6.11.1 North America
6.11.1.1 United States of America
6.11.1.2 Canada
6.11.2 Europe
6.11.2.1 Germany
6.11.2.2 United Kingdom
6.11.2.3 France
6.11.2.4 Italy
6.11.2.5 Others
6.11.3 Asia Pacific
6.11.3.1 China
6.11.3.2 Japan
6.11.3.3 India
6.11.3.4 ASEAN
6.11.3.5 Others
6.11.4 Latin America
6.11.4.1 Brazil
6.11.4.2 Argentina
6.11.4.3 Mexico
6.11.4.4 Others
6.11.5 Middle East & Africa
6.11.5.1 Saudi Arabia
6.11.5.2 United Arab Emirates
6.11.5.3 Nigeria
6.11.5.4 South Africa
7 SWOT Analysis
7.1 Overview
7.2 Strengths
7.3 Weaknesses
7.4 Opportunities
7.5 Threats
8 Porter’s Five Forces Analysis
8.1 Overview
8.2 Buyer’s Power
8.3 Supplier’s Power
8.4 New Entrants
8.5 Degree of Rivalry
8.6 Substitutes
9 Value Chain Analysis
10 EMR’s Key Indicators for Demand
11 EMR’s Key Indicators for Price
12 Competitive Landscape & Supplier Analysis
12.1 Signify Holding (Philips)
12.1.1 Company Overview
12.1.2 Financial Analysis
12.2 Eaton
12.2.1 Company Overview
12.2.2 Financial Analysis
12.3 Solar Electric Power Company (SEPCO)
12.3.1 Company Overview
12.3.2 Financial Analysis
12.4 ENF Ltd.
12.4.1 Company Overview
12.4.2 Financial Analysis
12.5 Clear Blue Technologies [CBLU(CVE)]
12.5.1 Company Overview
12.5.2 Financial Analysis
12.6 Jinhua Sunmaster Solar Lighting Co. Ltd
12.6.1 Company Overview
12.6.2 Financial Analysis
12.7 Best Solar Street Lights USA
12.7.1 Company Overview
12.7.2 Financial Analysis
12.8 Others
13 Events and Developments
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Our approach gives our clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources.
Price Assessment
We assess the historical, prevailing, and expected prices of commodities and raw materials by analysing our assiduously collected data from verified primary and secondary sources. Our assessments reflect the market values of related commodities within a region to help our consumers understand the interdependencies and formulate profitable market strategies. Our price assessments cover both the average global prices along with the prevailing regional prices.
Market Assessment
Our market assessments determine the global and regional production and consumption of the product, according to their value and volume. We identify the key growth drivers, opportunities, and restraints that might promote or hinder the future market growth along with an expansive overview of the competitive landscape to help our clients make informed strategic decisions. We also take into account the demographic, economic, cultural, and political factors that might influence the market.
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Primary Research
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