"Actionable Insights to Fuel Your Growth"
Various types of clean energy generation techniques, including solar, wind, hydro, and many others, have gained significant momentum over the years. Solar energy is one of the most rapidly increasing renewable sources of power generation that is produced from the radiant heat of the sun. It can be harnessed using a wide range of equipment like solar lamps, which consist of an array of solar photovoltaic panels.
Solar panels are mainly constructed using a semiconductor called crystalline silicon to deliver optimum operational characteristics. There are two layers of silicon inside the solar cell; the lower layer has an inconsiderable positive charge due to the low degree of electrons, whereas with the upper layer, it is vice versa. The most vital component of a solar cell is the solar panel that converts the heat particles from the sun into direct electrical current. The batteries installed in the units usually contain gel electrolyte technology to impart deep charging, high operational performance, and easy working in variable temperature conditions.
Furthermore, solar lamps serve as a viable replacement for the conventional battery-powered lamps owing to their easy integration in the systems without any need for electric cables. Some other merits of the products are that they require significantly low maintenance costs and consume much less energy delivering an economical option to the customers with lower electricity bills. Consequently, advanced breakthroughs in technology have enabled the units with high luminous efficiency and longer shelf life compared to other counterparts.
The solar lamps market can be majorly divided based on type, application, and geography. Based on the type, the global industry is segmented into Compact Fluorescent Light (CFL) and Light Emitting Diode (LED). LED is the most abundantly installed technique to fabricate efficient illuminating units owing to easy upgrading technique, wide output range, cost-effective operations, easy system integration, and many others.
Based on the application, this market is segregated into residential, commercial, and industrial. The residential solar lamp segment is anticipated to witness significant growth over the forecast timeline due to portability, aesthetic appeal, safer and easier installation that delivers a better ambiance, and reduced electricity bill. Additionally, the industrial application is projected to hold significant share owing to the fact that solar lamps have an exceptional storage system permitting up to three consecutive days worth illumination, that too without any charge, making it merit for the industries.
Governments of emerging economies have made provisions to reduce their carbon footprints by shifting towards sustainable energy sources, which is set to boost product adoption. Although renewable sources of energy require significant capital costs, this is not the case with solar lamps. They are pollution-free and cause no greenhouse gases to be emitted post-installation, not to mention much more durable and flexible than the conventional bulbs and far less hazardous.
Although in the rural areas where people are unaware of solar lamps and in general about solar power, it is difficult to spread the reach. While the technological advancements in the 21st century are marvelous strides compared to history, yet they still aren’t sufficient in this era. For instance, larger applications require big-sized lamps, thus requiring huge batteries, which can be problematic to accommodate in small systems.
Key Market Driver -
Paradigm shift towards adoption of low carbon energy generation
Key Market Restraint -
Availability of skilled and technical workforce
The major players dealing in the solar lamp market are Jinko Solar Co., Ltd, Trina Solar, Q Cells, GCL System Integration Technology Co., Ltd, Canadian Solar Inc, LONGi Solar, Shunfeng International Clean Energy Limited, KYOCERA Global, and Yingli Solar.
The global solar lamps market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North American, solar lamp industry is gaining momentum as the PV industry is quite developed, as there are various policies to incentivize the entrance and functioning of new solar. Europe aims to guarantee more energy is produced via solar means rather than others. India and China are substantial energy consumer countries in the world owing to population explosion as both countries are trying to be self-reliant in terms of energy producers through renewable energy technologies. Solar Lamps are crusading in the Middle East as, according to the Middle East Solar Industry Association (MESIA), as of 2018, there was more than 12,000 MW of solar energy in operation, which is likely to expand over the years propelling the installation of various solar technologies
To gain extensive insights into the market, Request for Customization
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry