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Market Outlook
The global solar lighting system market attained a value of about USD 5.5 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 15.8% to reach USD 13.3 billion by 2026. 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 (2016-2020) & Forecast (2021-2026)
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 (2016-2020) & Forecast (2021-2026)
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 (2016-2020) & Forecast (2021-2026)
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 (2016-2020) & Forecast (2021-2026)
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 (2016-2020) & Forecast (2021-2026)
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 (2016-2020) & Forecast (2021-2026)
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
EMR is one of the foremost business intelligence and market research companies with a database of syndicated and customised reports spanning more than 100 industries across global and regional markets. We leverage the knowledge of our highly skilled team of over 100 analysts and more than 3000 independent consultants to provide our clients with thoroughly researched and reliable data tailored to their requirements. We help our clients, who range from Fortune 1000 companies to medium and niche enterprises, make informed strategic decisions through our varied tools and methodology.
Our meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. We understand the distinct nature and requirements for each market and thus, modify our methodology to best fit the industry in question. Our research methodology uses a combination of cutting-edge analytical tools and the expertise of our highly accomplished team, thus, providing our customers with market insights that are accurate, actionable, and help them remain ahead of their competition. EMR’ s fine-tuned research methodology and data analysis, formulated through years of cross-industry experience of our team, ensure that our clients are provided with:
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.
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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.
We gather market intelligence through our extensive database of reliable secondary sources and our exhaustive interviews with multiple industry stakeholders. The information gathered through our primary and secondary sources help us verify and extrapolate data relating to prices, trade, and market fluctuations along with the latest developments in the market.
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As a part of our primary research, we interact with highly placed industrial professionals possessing an expansive and meticulous insight into the market. We conduct our interviews via mails, telephonic conversations, and one-on-one meetings. Thus, our exhaustive interviews with both buyers and consumers help us provide our clients with verified intelligence regarding the market size, share, drivers, prices, and forecast along with a detailed assessment of your supply chain.
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EMR has access to extensive internal and subscribed databases, which apprise us of the historical and prevailing market conditions and help us forecast the market for the coming few years. Our secondary research involves a wide array of sources ranging from the annual and financial reports of the key players in the industry to governmental and regulatory databases. We refer to various scientific and industry publications and whitepapers to form a comprehensive understanding of the product and the supply chain. Our wide-ranging research also refers to relevant articles and press releases to provide our customers with an up-to-date understanding of the contemporary market. We derive extensive raw data from our secondary research, which then go through a thorough verification and validation process, to help us formulate an exhaustive understanding of the market, the supply chain, the competitive landscape, and the product.
Other Analyst Tools and Data Models
Our extensive and intricate data models, formulated through our propriety technological and analytical resources, help you easily comprehend the expansive market data and aid you in framing vital business and market strategies. Our tools provide you with a cohesive understanding of the industry outlook, taking into account the qualitative and quantitative market variables. Our analytical tools and models are regularly updated according to the changes in the continually evolving market scenarios as well as being adapted to best meet our client’s specific needs. Our research methods involve a blend of the best technological tools used in the industry along with the expertise of our analysts and consultants who can spot and assess the implications of the subtle factors influencing the more complex markets.
Our market assessments take into consideration only those data that are confirmed and are derived from credible and transparent sources. Thus, our clients are presented with accurate and infallible data which can be incorporated into their business strategies.
Before our data is presented to the clients, they undergo an intensive cross-verification and validation process. We corroborate the data gathered through our primary and secondary research by the review and validation of the initial sources along with the verification of the data from other thoroughly vetted sources.
Our qualitative and quantitative assessments are time-sensitive, reflecting the most recent value and volume of the market across regions. By constantly updating our databases and reports to reflect the changes taking place in the market, our market and price assessments accurately reflect the prevailing industry conditions.
Thus, our rigorous data collection, thorough statistical analysis, and specialist assessments ensure that our clientele has a greater understanding of the market space, supply chain, price fluctuations, competitive landscape, and other vital factors, helping them emerge as the undisputed industry leaders in their respective fields.
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