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Solar Outdoor LED Lighting Market:Executive Summary
Solar Outdoor LED lights are powered by photo-voltaic panels and are majorly used in street lighting. The market growth is primarily driven by growing environmental concerns amongst the consumers regarding clean sources of energy such as Solar Power and Wind power. Furthermore, increasing deployment of solar panels is expected to drive the market growth in near future. As in May 2019, the Solar Energy Industries Association (SEIA) announced that the US has reached 2 million Solar PV installations. The surge in the demand can be witnessed from the fact that it took 40 years to reach the 1 million mark for installation while only 3 years to reach the 2 million mark. Also, according to Solar Means Business Report of 2018, 35,000 projects are operating in the USA which produce more than 7000 megawatts of energy which cover 70% of all the commercial solar capacity plants installed in the country. Apple leads the company rankings with 393.3MW of installed capacity of solar power generation followed by amazon with 329.8 MW of installed capacity. Other major companies also have adopted the solar energy with Walmart, Switch, Target, Google etc. The report also states a decrease of 63% in the installation cost of the on-site commercial solar PV system over the last decade. The technological advancement and increased capacity and efficiency has boosted the market growth. However, high costs and maintenance impedes the growth of the market over the forecast period of 2020-2027.
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The regional analysis of global Solar Outdoor LED Lighting market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing deployment of solar panels in the region coupled with escalated consumer awareness. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising government initiatives and surging investments in clean sources of energy would create lucrative growth prospects for the Solar Outdoor LED Lighting market across Asia-Pacific region.
Major market player included in this report are:
Carmanah
Hubbell
Leadsun
Solar Lighting International, Inc.
Solar Electric Power Company (SEPCO)
OSRAM Licht AG
Signify Holding
Hollandia Power
Shenzhen Spark
EXIDE Industries
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Street Lights
Flood Lights
Garden Lights
Spotlights
Area Lights
by Application:
Residential
Commercial
Others
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Solar Outdoor LED Lighting Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Continuous…
For further information on this report, visit – https://www.wiseguyreports.com/reports/5633357-global-solar-outdoor-led-lighting-market-size-study
NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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