Solar Lighting System Market

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

The solar lighting system market is projected to reach USD 10.8 billion by 2024 from USD 5.2 billion in 2019, at a CAGR of 15.6%. Major drivers for the growth of the market are growing need for energy-efficient solar lighting systems for highways, increasing use of renewable energy for lighting, rising penetration and decreasing cost of LEDs, and growing demand from developing and emerging countries. Furthermore, underlying opportunities for this market include a decline in the cost of solar lighting systems, favorable government initiatives, and enhancement in technological aspects of a solar lighting system.

Solar Lighting System Market

Based on application, commercial to hold largest share of solar lighting system market during forecast period

The solar lighting market, by application, is segmented into highways & roadways, industrial, commercial, residential, and other subsegments. Commercial application is expected to hold the largest share of the solar lighting system market during the forecast period. Solar lighting systems are installed in commercial areas such as corporate offices, schools, and universities. Commercial spaces need indoor lighting for lighting up cellars, corridors, basements, and outdoor lighting for illuminating pathways and perimeters, among others. Solar lighting systems installed at these places help in decreasing energy and maintenance costs.

Off-grid to be major shareholder grid type in solar lighting system market in coming years

Off-grid solar power systems are standalone systems that are independent of any electric grids. These systems are used to collect and store solar energy, which is converted to electricity when required. In various developing countries, such as Indonesia, Bangladesh, India, Tanzania, Ethiopia, Cambodia, and Kenya, there is a high degree of dependency on off-grid systems. Governments across these countries are encouraging the installation and deployment of off-grid solar lighting systems.

The Brazilian Development Bank (BNDES), the Institute for Planning and Promotion of Energy Solutions (IPSE) in Columbia, the Ministry of New and Renewable Energy (MNRE), and the Jawaharlal Nehru National Solar Mission (JNNSM) in India are among the entities assisting the advancement of the global off-grid solar lighting system market. Apart from the governments of these countries, a few international organizations have also been encouraging the deployment of off-grid solar lighting system. For instance, the World Bank, in collaboration with International Finance Corporation, has been promoting off-grid solar lighting in Africa.

Solar Lighting System Market

APAC to account for the largest market size of solar lighting system during forecast period

APAC is a potential market for solar lighting systems with enormous 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 implementation 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.

Key Market Players

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.

Report Scope

Report Metric

Details

Report Name

Solar Lighting System Market

Market size available for years

2016–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value, USD million/billion

Segments covered

Light source, grid type, offering, application, and region

Regions covered

North America, Europe, APAC, and RoW

Companies covered

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), Jiangsu Sokoyo Solar Lighting Co.Ltd (Sokoyo Solar, China), FlexSol Solutions B.V. (FlexSol Solutions, Netherlands), Exide Industries Ltd (Exide, India), Greenshine New Energy LLC (Greenshine New Energy, US), Zhuhai Bomin Solar Technology Co., Ltd. (BOMSOLAR, China), Halonix Technologies Pvt. Ltd. (Halonix Technologies, US), 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.

Solar lighting system market segmentation:

In this report, the market is segmented into the following categories:

Solar lighting system market, by Light Source:

  • LED
  • Others (CFL and Induction)

Solar lighting system market, by Offering:

  • Hardware
  • Software & Services

Solar lighting system market, by Grid Type:

  • Off-grid
  • Hybrid

Solar lighting system market, by Application:

  • Industrial
  • Highways and roadways
  • Commercial
  • Residential
  • Others(Amusement Parks, Playgrounds, and Emergency Lights)

Geographic Analysis: Solar Lighting System Market

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Recent Developments

  • In April 2018, SEPCO partnered with a local property management company at Gardens of Woodberry, Georgia, US, to provide lighting along walkways and streetlights in areas that were difficult to bring traditional power. The residential area was also installed with electrical lights along with most parts of the roadway, but many dark areas need to be addressed.
  • In March 2018, Signify (Philips Lighting) launched Philips SunStay, a solar streetlight that combines solar panel, battery, and light in one housing, and Philips LifeLight, a solar lantern that comes with a replaceable battery. With the launch of these products in India, the company is accelerating a strategic push into solar-powered lighting.
  • In February 2018, Sol and Sand Creek Park, the city of Aurora’s parks, recreation, and open space department (US), formed an agreement to install solar lighting systems. Sol installed EverGen solar lighting systems in Sand Creek Park in Aurora, Colorado. Sol has deployed more than 300 solar lighting systems in Colorado.

Critical questions the report answers:

  • Where will all these developments take the industry in the mid to long term?
  • Which emerging application area is expected to adopt a solar lighting system?
  • Which hardware component is growing in the market at the highest growth rate?
  • Which grid type is expected to penetrate significantly in solar lighting system market?
  • What type of light source is the most opportunistic for light manufacturers in the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst of Solar Lighting System Market

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Major Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Data From Primary Sources
                    2.1.2.3 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Size By Bottom-Up Analysis
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insight (Page No. - 33)
    4.1 Attractive Opportunities in Solar Lighting System Market
    4.2 Market, By Offering
    4.3 Market, By Light Source
    4.4 Market, By Application
    4.5 Market, By Region

5 Market Overview (Page No. - 36)
    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 (Page No. - 40)
    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 (Page No. - 43)
    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 (Page No. - 50)
    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 (Page No. - 54)
    9.1 Introduction
    9.2 Off-Grid
           9.2.1 Off-Grid to Hold A Larger Share of Solar Lighting System 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 (Page No. - 58)
     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 Adequare Illumination and Enhace 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 Deplying Solar Lighting Systems
     10.6 Others
             10.6.1 Asia Pacific Dominate the Others Segment of Market

11 Geographic Analysis (Page No. - 64)
     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 Solar Lighting System Market in the 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 Solar Lighting System Market in Asia Pacific
             11.4.3 Australia
                        11.4.3.1 Investment Opportunities and Government Policies Boosting the Growth of Solar Lighting System 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 Highest Rate in Solar Lighting System Market in Asia Pacific
             11.4.6 Rest of APAC
                        11.4.6.1 Developing Economies of Rest of APAC Opens Huge Opportunities for Solar Lighting 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 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 (Page No. - 93)
     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 (Page No. - 100)
(Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis)*
     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

*Business Overview, Products Offered, Recent Developments, MnM View, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 124)
     14.1 Insights From Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (61 Figures)

Table 1 Solar Lighting System Market, By Offering, 2016–2024 (USD Billion)
Table 2 Market for Hardware, By Component, 2016–2024 (USD Billion)
Table 3 Market for Hardware, By Region, 2016–2024 (USD Billion)
Table 4 Market for Solar/Pv Panels, By Region, 2016–2024 (USD Billion)
Table 5 Market for Lighting Fixtures, By Region, 2016–2024 (USD Billion)
Table 6 Market for Rechargeable Batteries, By Region, 2016–2024 (USD Billion)
Table 7 Market for Others, By Region, 2016–2024 (USD Billion)
Table 8 Market for Software & Services, By Region, 2016–2024 (USD Billion)
Table 9 Market, By Light Source, 2016–2024 (USD Billion)
Table 10 Market for LEDs, By Region, 2016–2024 (USD Billion)
Table 11 Market for Others, By Region, 2016–2024 (USD Million)
Table 12 Market, By Grid Type, 2016–2024 (USD Billion)
Table 13 Market for Off-Grid, By Region, 2016–2024 (USD Billion)
Table 14 Market for Hybrid, By Region, 2016–2024 (USD Billion)
Table 15 Market, By Application, 2016–2024 (USD Billion)
Table 16 Market for Highways and Roadways, By Region, 2016–2024 (USD Billion)
Table 17 Market for Industrial Applications, By Region, 2016–2024 (USD Billion)
Table 18 Market for Commercial Applications, By Region, 2016–2024 (USD Billion)
Table 19 Market for Residential Applications, By Region, 2016–2024 (USD Billion)
Table 20 Market for Others, By Region, 2016–2024 (USD Billion)
Table 21 Market, By Region, 2016–2024 (USD Billion)
Table 22 Market in North America, By Country, 2016–2024 (USD Billion)
Table 23 Market in North America, By Offering, 2016–2024 (USD Billion)
Table 24 Market in North America, By Hardware Component, 2016–2024 (USD Billion)
Table 25 Market in North America, By Light Source, 2016–2024 (USD Billion)
Table 26 Market in North America, By Grid Type, 2016–2024 (USD Billion)
Table 27 Market in North America, By Application, 2016–2024 (USD Billion)
Table 28 Market in US, By Light Source, 2016–2024 (USD Million)
Table 29 Market in Canada, By Light Source, 2016–2024 (USD Million)
Table 30 Market in Mexico, By Light Source, 2016–2024 (USD Million)
Table 31 Market in Europe, By Country, 2016–2024 (USD Billion)
Table 32 Market in Europe, By Offering, 2016–2024 (USD Billion)
Table 33 Market in Europe, By Hardware Component, 2016–2024 (USD Billion)
Table 34 Market in Europe, By Light Source, 2016–2024 (USD Billion)
Table 35 Market in Europe, By Grid Type, 2016–2024 (USD Billion)
Table 36 Market in Europe, By Application, 2016–2024 (USD Billion)
Table 37 Market in UK, By Light Source, 2016–2024 (USD Million)
Table 38 Market in Germany, By Light Source, 2016–2024 (USD Million)
Table 39 Market in France, By Light Source, 2016–2024 (USD Million)
Table 40 Market in Rest of Europe, By Light Source, 2016–2024 (USD Million)
Table 41 Market in APAC, By Country, 2016–2024 (USD Billion)
Table 42 Market in APAC, By Offering, 2016–2024 (USD Billion)
Table 43 Market in APAC, By Hardware Component, 2016–2024 (USD Billion)
Table 44 Market in APAC, By Light Source, 2016–2024 (USD Billion)
Table 45 Market in APAC, By Grid Type, 2016–2024 (USD Billion)
Table 46 Market in APAC, By Application, 2016–2024 (USD Billion)
Table 47 Market in Japan, By Light Source, 2016–2024 (USD Million)
Table 48 Market in China, By Light Source, 2016–2024 (USD Million)
Table 49 Market in Australia, By Light Source, 2016–2024 (USD Million)
Table 50 Market in South Korea, By Light Source, 2016–2024 (USD Million)
Table 51 Market in India, By Light Source, 2016–2024 (USD Million)
Table 52 Market in Rest of APAC, By Light Source, 2016–2024 (USD Million)
Table 53 Market in RoW, By Region, 2016–2024 (USD Billion)
Table 54 Market in RoW, By Offering, 2016–2024 (USD Billion)
Table 55 Market in RoW, By Hardware Component, 2016–2024 (USD Billion)
Table 56 Market in RoW, By Light Source, 2016–2024 (USD Billion)
Table 57 Market in RoW, By Grid Type, 2016–2024 (USD Billion)
Table 58 Market in RoW, By Application, 2016–2024 (USD Billion)
Table 59 Market in South America, By Light Source, 2016–2024 (USD Million)
Table 60 Market in Middle East, By Light Source, 2016–2024 (USD Million)
Table 61 Market in Africa, By Light Source, 2016–2024 (USD Million)


List of Figures (36 Figures)

Figure 1 Solar Lighting System Market Segmentation
Figure 2 Solar Lighting System Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Solar Lighting System Market, 2016–2024
Figure 7 Hardware to Dominate Market During Forecast Period
Figure 8 LED to Dominate Market During Forecast Period
Figure 9 Commercial Segment to Hold Largest Size of Market By 2024
Figure 10 APAC Held Largest Share of Market in 2018
Figure 11 Shift Toward Renewable Energy for Lighting is Driving Market
Figure 12 Hardware Segment Held Larger Share of Market in 2018
Figure 13 LED Accounted for Larger Market Share, in Terms of Light Source, in 2018
Figure 14 Commercial Application Held Largest Share of Market in 2018
Figure 15 APAC to Witness Highest CAGR in Market From 2019 to 2024
Figure 16 Solar Lighting System Market: Value Chain Analysis
Figure 17 Smart Solar Street and Roadways Lighting Systems in Market—Leading Trend Among Key Market Players
Figure 18 Solar Lighting System Market, By Offering
Figure 19 Solar Lighting System Market, By Light Source
Figure 20 Solar Lighting System Market, By Grid Type
Figure 21 Solar Lighting System Market, By Application
Figure 22 Solar Lighting System Market, By Region
Figure 23 Geographic Snapshot: Solar Lighting System Market
Figure 24 Solar Lighting System Market in North America
Figure 25 North America: Snapshot of Solar Lighting Systems Market
Figure 26 Solar Lighting Systems Market in Europe
Figure 27 Europe: Snapshot of Solar Lighting Market
Figure 28 Solar Lighting Systems Market in APAC
Figure 29 APAC: Snapshot of Solar Lighting System Market
Figure 30 Solar Lighting System Market in RoW
Figure 31 Strategies Adopted By Top Players in Solar Lighting System Market
Figure 32 Market Player Ranking (2018)
Figure 33 Solar Lighting Market (Global) Competitive Leadership Mapping, 2018
Figure 34 Signify Holdings (Philips): Company Snapshot
Figure 35 Eaton: Company Snapshot
Figure 36 Clear Blue Technologies: Company Snapshot

The study involved 4 major activities in estimating the current size of the solar lighting system market. Exhaustive secondary research was done to collect information on the market, including the peer market and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, solar lighting-related journals, IEST publications; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research has been conducted after understanding and analyzing the solar lighting system market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across four regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises South America and the Middle East & Africa. Approximately 45% of the primary interviews have been conducted with the demand side and 55% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.

Solar Lighting System Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were implemented to estimate and validate the total size of the solar lighting system market. These methods were also used extensively to estimate the size of the markets based on various subsegments. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides across different end-use applications.

Study Objectives

  • To describe and forecast the global solar lighting system market, in terms of value, by offering, light source, grid type, and application
  • To describe and forecast the market size for various segments by region: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors, namely drivers, restraints, opportunities, and challenges influencing the growth of the solar lighting system market
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments in the solar lighting system market
  • To strategically profile key players and comprehensively analyze their market ranking in terms of revenue and core competencies
  • To study the complete value chain and industry segments and perform a value chain analysis of the global solar lighting system market
  • To analyze strategies such as product launches and product developments, partnerships/ contracts/agreements/collaborations, expansions, and mergers, and acquisitions, adopted by major players in the solar lighting system market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company's specific needs. The following customization options are available for this report:

Reginal Analysis

  • Country-wise breakdown of various regions such as the Americas, Europe, APAC, and RoW
  • Further segmentation of the application segments of the solar lighting system market
  • Comprehensive coverage of regulations followed in each region (North America, APAC, and Europe)

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 7239
Published ON
Jul, 2019
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