Energia
Solar Lighting System Market Worth $10.8 billion by 2024 - Exclusive Report by MarketsandMarkets™
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LEDs are used widely in solar lighting systems as these are energy efficient. LEDs offer benefits such as long life, durability, eco-friendly, and zero UV emissions. LEDs are compact and have a life span up to 50,000 hours, which is 30 times longer than incandescent bulbs and 5 times longer than CFLs. In the case of outdoor solar lights, lighting fixtures are exposed to different environmental factors such as heat, wind, and falling objects that can damage the fixtures.
LEDs comprise compound semiconductor materials and are hollow. This makes LEDs more durable than other types of lamp that withstand harsh conditions. These are resistant to vibrations, external impacts and shock, and are, therefore, preferred for different solar outdoor lighting types. Thus, their technical characteristics make it a viable choice over other light sources resulting in driving its demand over the forecast period.
Solar lighting systems are installed in commercial areas such as corporate offices, schools, and universities. Commercial spaces need indoor lighting for illuminating cellars, corridors, and basements, and outdoor applications such as pathways and perimeters, among others. Solar lighting systems installed at these places help in decreasing energy and maintenance costs.
APAC is a potential market for solar lighting systems with huge opportunities for the development and implementation of new technologies. Countries such as China , Japan , India , South Korea , and Australia are taking initiatives toward the deployment of solar lighting systems. China is the biggest market in APAC for the deployment of solar lighting system solutions. Surging urbanization in developing countries in this region has been leading to the rise in the demand for energy. This consequently drives the demand for solar streetlights in this region. Reduction in the price of LEDs and increasing awareness about using energy-efficient lighting are expected to spur the solar lighting system market.
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China is the biggest market in APAC for the deployment of solar lighting system solutions. Surging urbanization in developing countries in this region has been leading to the rise in the demand for energy. This consequently drives the need for solar streetlights in this region. Reduction in the price of LEDs and increasing awareness about using energy-efficient lighting are expected to spur the solar lighting system market growth.
Signify Holding (Signify, Netherlands ), Eaton Corporation Inc (Eaton, Ireland ), Solar Electric Power Company (SEPCO, US), Sol Inc., (Sol by Carmanah, US), Su-Kam Power Systems Ltd. (Su-Kam, India ), Clear Blue Technologies Inc (Clear Blue Technologies, Canada ), SunMaster Solar Lighting Co.,Ltd. (SunMaster, China ), SolarOne Solutions, Inc. (SolarOne, US), Solar Street Lights USA (Solar Street Lights, US), Solar Lighting International, Inc. (Solar Lighting, US), FlexSol Solutions B.V. (FlexSol Solutions, Netherlands ), Azuri Technologies Ltd (Azuri, Kenya ), Sunna Design ( France ), Nokero (US), and Solektra International ( Africa ) are a few major players in the solar lighting system market.
by Offering (Hardware (Lights & Luminaires, Lighting Controls), Software, and Services), Communication Technology (Wired and Wireless), Installation Type, Application Type, and Geography - Global Forecast to 2023
by Offering (Hardware, and Software & Services), Type (Surface-Mounted Lights, Strip Lights, Track Lights, Recessed Lights, and Suspended Lights), End User, and Region - Global Forecast to 2023
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