Off-Grid Solar Lighting Market
Off-Grid Solar Lighting Market Global Industry Assessment & Forecast
Segments Covered
- By Product Solar Lantern System, Solar Home System, Large Solar Home System
- By Application Residential, Commercial, Industrial, Other
Snapshot
Forecast Years: | 2021 - 2028 |
Historical Years: | 2016 - 2020 |
Revenue 2021: | 5.2 Billion |
Revenue 2028: | 16.58 Billion |
Revenue CAGR (2021 - 2028): | 15.60% |
Fastest Growing Region (2022 - 2028) | Europe |
Customization Offered
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Research Methodology: Off-Grid Solar Lighting Market - Global Market Assessment, 2021 - 2028
We at Vantage Market Research, employ comprehensive methodology for each market study, and Off-Grid Solar Lighting Market is not an exception. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. We were connected with more than 145 primary respondents adequately distributed across the five regions to procure required Off-Grid Solar Lighting market-related information.
Secondary Research
Primary Research:
The next stage involves the primary research conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills the following data requirements
Data Triangulation and Market Size Estimations
At the later stage and after procuring data from secondary and primary research, top-down and bottom-up approaches are used to validate and estimate the market size of the Off-Grid Solar Lighting market. After the determination of the overall market size, the market is divided into various segments and sub-segments. The data was triangulated by employing various data models and statistical techniques to arrive at exact statistics and also considering key market trends from supply as well as the demand side of the market.
FAQ
Frequently Asked Question
What is the global demand for Off-Grid Solar Lighting in terms of revenue?
-
The global Off-Grid Solar Lighting valued at 5.2 Billion in 2020 and is expected to reach 16.58 Billion in 2028 growing at a CAGR of 15.60%%.
Which are the prominent players in the market?
-
The prominent players in the market are BareFoot Power, Sun Tech, Niwa Solar, WakaWaka, Omnivoltaic Power Co. Ltd, D Light, Azuri Technologies Ltd, Tata Power Solar Systems Ltd, SunnyMoney, Sinoware Technology Co. Ltd, OSRAM GmbH, BBOXX Ltd, Nuru Light, Koninklijke Philips N.V..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 15.60%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Off-Grid Solar Lighting include
- The growing need for energy-efficient solar Lighting systems for highways, with rising investment, is mainly driving the market growth during the forecast period.
- Rising demand from developing and emerging countries, owing to growing power consumption thereby elevating the market growth.
Which region accounted for the largest share in the market?
-
Europe was the leading regional segment of the Off-Grid Solar Lighting in 2020.