Solar Home Lights Market Rising Trends, Growing Demand and Business Opportunities 2021-2027

Dayana Jones
Allied Market Research

Allied Market Research

Global Market By Application, Product, and Region: Global Opportunity Analysis and Industry Forecast

PORTLAND, OREGON, UNITED STATES, March 30, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Solar Home Lights Market – Global Opportunity Analysis and Industry Forecast, 2022-2027.” The report has depicts the current key trends, market analysis, competitors’ strategy, and impending market & technology forecast. Moreover, the study also embodies the revenue size, market extent, and growth prospects of the global market in terms of value and major trends at regional level.

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.

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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.

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.

The global Solar Home Lights Market is classified on the basis of application, phase, and Region. Based on geography, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Spain, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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Top leading companies in the global Solar Home Lights Market is analyzed in the report along with their business overview, operations, financial analysis, SWOT profile. The key players operating in the global market include Tata Power Solar Systems, GE Renewable Energy, Sanyo Solar, Ascent Solar, Phillips, Sharp, Su-Kam, AUO, Solar Century, Shenzhen Yingli New Energy Resources

Covid-19 impact analysis:

The outbreak of COVID-19 affected the global economy severely and the Solar Home Lights Market was also not an exception in this regard. The report includes the COVID-19 impact on the market along with the current stratagems, dynamic slants, lines, and tactics espoused by the major players in the sector. It would further add up value to our clients by offering the much-needed insights on the global spectrum of the market. Apart from showcasing the impact instigated on the market share and size throughout the pandemic, especially during the initial phase, it also focuses on the key strategies implemented by the frontrunners during this crisis. Simultaneously, with the rollout of mass vaccination programs across the world, the market is expected to revive soon and the report also offers the post-COVID-19 impact on the global Solar Home Lights Market.

Key Market Segments

• By Application

o City

o Countryside

• By Product

o Grid-Tied Solar Home Lighting

o Off-Grid Solar Home Lighting

KEY BENEFITS FOR STAKEHOLDERS

• 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.

David Correa
Allied Analytics LLP
+1 800-792-5285
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