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Allied Market Research

Solar Home Lights Market: Global Opportunity Analysis and Industry Forecast 2020 - 2027

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Aug 2021 | 230 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Solar home lights are powered by solar power using solar cells that convert solar energy, i.e. sunlight directly to power. The power is stored in batteries and used for the purpose of lighting whenever required. Solar lighting technology is cost-effective; has no ongoing cost; and offers a cleaner, brighter substitute to kerosene. The demand for fossil fuels is anticipated to increase in the coming years and is specifically attributed to the growing demand for power across the globe. The effect of rapid industrialization on the environment is quite large and resulted in the rise in global temperatures of both the land surface and water bodies. The upward push in demand for power from residential and industrial consumers is quite imminent along with the considerable use of fossil fuels that result in a large cost to the environment in the form of greenhouse gas emissions. The implementation of renewable sources of power, which include solar, wind, and hydro energy is expected to considerably reduce the emission of greenhouse gasses and additionally help obtain the goal of making a sustainable environment.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Million (USD)

  Segments covered

  Product, Application

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Tata Power Solar Systems, GE Renewable Energy, Sanyo Solar, Ascent Solar, Phillips, Sharp, Su-Kam, AUO, Solar Century, Shenzhen Yingli New Energy Resources

 

Global Solar Home Lighting Market, by Product

  • Grid-Tied Solar Home Lighting
  • Off-Grid Solar Home Lighting

Global Solar Home Lighting Market, by Application

  • City
  • Countryside

COVID–19 scenario analysis

COVID-19 outbreak has put many of the industries under tough situations. The global solar home lightning market has impacted negatively in the coronavirus crisis. Many of the countries are dependent on China for imports of materials that are required for the renewable energy equipment. Prohibited transportation has affected the supply chain due to cancellation of transportation facilities. For instance, the U.S. and Europe regions are mainly dependent on China for supply of low-cost solar photovoltaic (PV) modules. Manufacturing facilities are closed around the world, which in turn, impacted negatively on the market growth. However, the market is anticipated to regain its importance after the end of the pandemic. 

Top impacting factors: Market scenario analysis, trends, and drivers

The global solar home lighting market is developing at a faster pace with widespread growth rates over the previous couple of years. The market is expected to grow substantially over the forecast duration due to increasing use of renewable energy for lighting. In addition, rising penetration & reducing price of LEDs and growing demand from developing & emerging countries have enhanced the growth of the market. Moreover, underlying opportunities for this market consist of a decline in the price of solar lights systems, favorable government policies, and enhancement in technological factors of a solar lighting system. Irregular electricity power supply in rural areas is a major aspect that is expected to enhance the global solar home lighting market over the forecast period. Governments across many countries have offered subsidies, further boosting the market growth. However, limited sales channel is one of the major factors expected to restrict the market growth over the forecast duration.

Regional insights

Region-wise, the global solar home lighting market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to account for largest market size of the solar home lighting market and dominate the industry over the forecast period. Majority of nations in Asia-Pacific lie in the tropical or sub-tropical regions, and this plays a considerable role in contributing to the expansion of the solar products market. Moreover, recent government policies for the improvement of solar infrastructure in Asia-Pacific countries are expected to further propel the demand for solar home lighting products in the region.

Key benefits of the report:

  • This study presents the analytical depiction of the global solar home lighting market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global solar home lighting market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global solar home lighting market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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