Published on : Sep 14, 2016
ALBANY, New York, September 14, 2016: A new report on the global solar home lighting market has been recently added to the vast repository of ResearchMoz.us. The study, titled “Global Solar Home Lighting Market 2016-2020,” provides a comprehensive evaluation of this market, taking its historical performance, current status, and future prospects into consideration. According to this research study, the increased collaboration between international organizations, regional NGOs, and local governments are likely to fuel the global solar home lighting market. The market is thus, expected to expand at a strong 20% CAGR from 2016 to 2020.
The report compiles the competitive landscape, drivers, restraints, trends, and opportunities in the global solar home lighting market. It gives information regarding the various environmental and government regulations, which are likely to impact the market in the coming years. The report discusses key segments of the market and also objectively and logically analyzes factors governing the declining and leading segments.
The demand for energy from the industrial and residential sectors is rising and thus, there is an extensive use of fossil fuels, resulting into high emissions of greenhouse gases. In order to reduce the dependence on fossil fuels, residential, commercial, and industrial sectors are turning to renewable sources of energy such as solar, wind, and hydro. This is expected to positively impact the global solar home lighting market.
As governments are taking initiatives encouraging developments in solar home lighting systems, projects aimed at the development of lighting systems which make use of solar energy, will gain impetus. This is likely to fuel the adoption of solar home lighting systems, thus driving the market. Various government and NGO initiatives are also expected to facilitate the provision of solar home lighting to households that are in remote location, isolated from national grids.
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By product, the global solar home lighting market is segmented into off-grid solar and grid-tied solar. As per analysts, the off-grid solar home lighting market segment is projected to experience a high number of new product developments, which are in line with the dynamics of this particular segment. The vendor competition in this segment is thus, expected to intensify in the market in the coming four years. However, the continuous adoption of grid-tied solar system in developed nations will fuel their demand. This is expected to result in the grid-tied solar system segment to lead in the market by 2020. The segment also led in 2015.
The global solar home lighting market is highly fragmented. Players in the market are focusing on developed regions such as Western Europe and North America. Some of the players in the market are Panasonic, Su-Kam, Solarcentury, Shenzhen Yingli New Energy Resources, Tata Power Solar Systems, Sharp, GE Renewable Energy, and Phillips.
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