The report, now available on ASDReports, recognizes the following companies as the key players in the global solar home lighting market: Panasonic, Tata Power Solar Systems, Shenzhen Yingli New Energy Resources, and Sharp.
Other Prominent Vendors in the market are: GE Renewable Energy, Su-Kam, Solary Century, and Philips.
Commenting on the report, an analyst said: “One trend which is propelling tremendous growth in the market is the dominance of emerging markets. The growth of the solar home lighting market has been largely dominated by the off-grid segment. This segment aims to provide lighting facilities to the households who live off the national electricity grid. The majority of this population segment is found in the developing or the developed global economies such as those in Africa and Asia. Although the rates of infrastructure development in many of these regions have been significantly high, there are still significant voids which remain in the penetration of the electricity markets. There is a significant segment of the population that still experiences long hours of power outages and are reliant on kerosene for its lighting needs.”
According to the report, a key growth driver is the increased focus on environmental protection. Since the discovery of the commercial uses of oil and natural gas in the late eighteenth and early nineteenth centuries, the dominance of fossil fuels in satisfying the ever ballooning global energy demand has only grown. Fossil fuels currently account for more than 80% of the world’s energy demand. The global energy demand is expected to increase by 35% by 2020, and fossil fuels are expected to meet 75% of this increased demand. The major growth in the demand for this fossil fuel is expected to shift to the non-OECD countries such as China and India backed by their booming economies.
Further, the report states that one challenge that could hamper market growth is limited sales channels. No matter how good a product is, the commercial success of the product can only be ensured when it reaches the target customers efficiently. This is where the sales channels and business models for a particular product come into play. The solar home lighting market, however, has been significantly plagued by the absence of developed sales channels.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Sep 5, 2016