Solar Lighting System Markets. 2024 by Offering, Light Source, Grid Type - Focus on Highways & Roadways, Industrial, and Commercial - ResearchAndMarkets.com

DUBLIN--()--The "Solar Lighting System Market by Offering (Hardware and Software & Services), Light Source (LED and Others), Grid Type (On Grid and Off Grid), Application (Highways & Roadways, Industrial, and Commercial), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Solar Lighting System Market is Projected to Reach USD 10.8 Billion by 2024 from USD 5.2 Billion in 2019, at the Highest CAGR of 15.6%.

Major drivers for the growth of the market are growing need for energy-efficient solar lighting systems for highways, increasing the use of renewable energy for lighting, rising penetration and decreasing the cost of LEDs, and growing demand from developing & emerging countries.

Furthermore, underlying opportunities for the solar lighting system market include a decline in the cost of solar lighting systems, favourable government initiatives, and enhancement in technological aspects of a solar lighting system. Major restraints for the market are lack of awareness about finance and payback period. The lack of customer ownership in utility-owned solar street lighting poses a significant challenge for the solar lighting system market.

A solar lighting system typically includes solar panels, lamp, battery, charge controller, and inverter. The system operates on electricity from batteries that are charged using a solar photovoltaic panel. The solar system converts solar light to electrical energy. A solar lighting system can be used in applications such as industrial, commercial, and residential.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insight

5 Market Overview: Solar Lighting System

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Growing Need for Energy-Efficient Solar Lighting Systems for Highways

5.2.1.2 Increasing use of Renewable Energy for Lighting

5.2.1.3 Rising Demand From Developing and Emerging Countries

5.2.1.4 Increasing Penetration and Decreasing Cost of LEDs

5.2.2 Restraints

5.2.2.1 Lack of Awareness About Finance and Payback Period

5.2.3 Opportunities

5.2.3.1 Decline in Cost of Solar Lighting Systems

5.2.3.2 Enhancement in Technological Aspects of Solar Lighting System

5.2.3.3 Favorable Government Initiatives

5.2.4 Challenges

5.2.4.1 Lack of Customer Ownership in Utility-Owned Solar Street Lighting

6 Industry Trends

6.1 Introduction

6.2 Value Chain Analysis

6.2.1 Research and Product Development

6.2.2 Raw Material/Component Providers

6.2.3 Original Equipment Manufacturers (OEMs)

6.2.4 Key Technology Providers

6.2.5 Distributors/Sales Offices

6.2.6 End Users

6.3 Key Industry Trends

6.3.1 Smart Solar Street and Roadways Lighting Systems

6.3.2 Battery Industry Will Become More Competitive

7 Solar Lighting Market, By Offering

7.1 Introduction

7.2 Hardware

7.2.1 Solar/PV Panels

7.2.1.1 Solar PV Panels are Among the Important Components of Solar Lighting System

7.2.2 Lighting Fixtures

7.2.2.1 LED, CFL and Induction Light are the Mainly Used in Solar Lighting Systems

7.2.3 Rechargeable Battery

7.2.3.1 Rechargeable Battery is the Main Revenue Generator Component for Hardware

7.2.4 Others (Controllers and Accessories)

7.2.4.1 Controllers and Accessories are the Other Component Driving Hardware Market of Solar Lighting

7.3 Software & Services

7.3.1 Software Play Crucial Role in Effective Management of Solar Lighting Systems

8 Solar Lighting Market, By Light Source

8.1 Introduction

8.2 LED

8.2.1 Benefits Such as Long Life, Durability, and Efficiency Driving the Adoption of LED in Solar Lighting Market

8.3 Others

8.3.1 CFL and Induction Bulbs are the Other Light Sources in the Solar Lighting Systems

9 Solar Lighting Market, By Grid Type

9.1 Introduction

9.2 Off-Grid

9.2.1 Off-Grid to Hold a Larger Share of Market

9.3 Hybrid

9.3.1 Hybrid Solar Lighting System is a Less Expensive Than Off-Grid Solar Lighting System

10 Solar Lighting Market, By Application

10.1 Introduction

10.2 Highways and Roadways

10.2.1 Highways and Roadways Segment to Grow at a Substantial CAGR

10.3 Industrial

10.3.1 Industrial Areas Likely to Deploy Solar Lighting System to Maintain Adequate Illumination and Enhance Productivity

10.4 Commercial

10.4.1 Commercial Segment is Expected to Hold Largest Share of Market

10.5 Residential

10.5.1 Residential Townships are Increasingly Deploying Solar Lighting Systems

10.6 Others

10.6.1 Asia Pacific Dominate the Others Segment of this Market

11 Geographic Analysis

11.1 Introduction

11.2 North America

11.2.1 US

11.2.1.1 US is Expected to Hold Largest Share of Solar Lighting Market in North America

11.2.2 Canada

11.2.2.1 Canada is Expected to Grow at a Significant Rate as Due to Rising Awareness About Energy Efficiency Through Solar Lighting

11.2.3 Mexico

11.2.3.1 Government Initiatives is Driving the Solar Lighting Market in Mexico

11.3 Europe

11.3.1 UK

11.3.1.1 Rising Need for Energy Conservation Systems is Driving the Solar Lighting Systems in UK

11.3.2 Germany

11.3.2.1 Germany is Expected to Hold Significant Share of the Market in Europe

11.3.3 France

11.3.3.1 Government Initiatives Such as Approved Large-Scale Solar Projects are Driving Market in France

11.3.4 Rest of Europe

11.3.4.1 Rest of Europe Hold the Largest Share of Europe Solar Lighting System Market

11.4 APAC

11.4.1 Japan

11.4.1.1 Increasing Investment in Solar Lighting Infrastructure to Boost the Market Growth in Japan

11.4.2 China

11.4.2.1 China is Expected to Hold Largest Share of Market in Asia Pacific

11.4.3 Australia

11.4.3.1 Investment Opportunities and Government Policies Boosting the Growth of Market in Australia

11.4.4 South Korea

11.4.4.1 Government of South Korea Unveiled New Plans to Boost Solar Energy in the Country

11.4.5 India

11.4.5.1 India is Expected to Grow at the Highest Rate in Market in Asia Pacific

11.4.6 Rest of APAC

11.4.6.1 Developing Economies of Rest of APAC Opens Huge Opportunities for this Market

11.5 RoW

11.5.1 South America

11.5.1.1 Increasing Awareness and Government Support are Driving Factors for the Solar Alighting Market in South America

11.5.2 Middle East

11.5.2.1 Middle East is Expected to Grow at the Highest Rate in Solar Lighting Market in Rest of the World

11.5.3 Africa

11.5.3.1 Africa is Expected to Hold Largest Share in Solar Lighting Market in Rest of the World

12 Competitive Landscape

12.1 Introduction

12.2 Ranking of Top Players in Solar Lighting System Market (2018)

12.3 Competitive Situations and Trends

12.3.1 Product Launches and Product Developments

12.3.2 Partnerships, Contracts, Agreements, Collaborations, and Expansions

12.4 Competitive Leadership Mapping, 2018

12.4.1 Visionary Leaders

12.4.2 Dynamic Differentiators

12.4.3 Innovators

12.4.4 Emerging Companies

13 Company Profile: Solar Lighting System Market

13.1 Key Players

13.1.1 Signify Holding (Philips)

13.1.2 Eaton

13.1.3 Solar Electric Power Company (SEPCO)

13.1.4 Sol

13.1.5 Su-Kam Power Systems

13.1.6 Clear Blue Technologies

13.1.7 Jinhua SunMaster Solar Lighting Co. Ltd

13.1.8 SolarOne Solutions

13.1.9 Solar Street Lights USA

13.1.10 Solar Lighting International

13.2 Other Important Players

13.2.1 Jiangsu Sokoyo Solar Lighting Co. Ltd.

13.2.2 Exide Industries Ltd

13.2.3 Greenshine New Energy

13.2.4 Halonix Technologies Pvt Ltd.

13.2.5 Zhuhai Bomin Solar Technology Co. Ltd

13.3 Startup Ecosystem

13.3.1 Azuri Technologies Ltd

13.3.2 FlexSol Solutions

13.3.3 Sunna Design

13.3.4 Nokero

13.3.5 SoleKTra International

For more information about this report visit https://www.researchandmarkets.com/r/spsqeo

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Related Topics: Lighting Equipment

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Lighting Equipment