With the slowdown in world economic growth, the Solar Shed Light industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Solar Shed Light market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2018, Stratagem Market Insights analysts believe that in the next few years, Solar Shed Light market size will be further expanded, we expect that by 2023, The market size of the Solar Shed Light will reach XXX million $.
Increasing adoption of solar energy is expected to propel growth of the global solar shed light market over the forecast period. For instance, in June 2019, a survey of CITE Research on behalf of Vivint Solar reported that 70% adults in the U.S. support a nationwide mandate requiring solar panels to be installed on all newly built homes. Moreover, decreasing deposits of fossil fuel worldwide are expected to propel growth of the global solar shed light market. Fossil deposits are limited in nature. However, the use of oil, a major fossil fuel, is significantly increasing. For instance, according to the International Energy Agency, the U.S. alone will cover 80% of the world’s oil demand from 2018 to 2020.
Increasing urban population is expected to offer lucrative growth opportunities for players in the global solar shed light market. For instance, according to the World Bank, the urban population in China increased from 49.22% in 2010 to 60.3% in 2019. Moreover, growing residential sector is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, in February 2020, there were 1,464,000, building permits, 1,599,000 housing starts, and 1,316,000, housing completions in the U.S.
However, high capital investment and inconsistent availability of solar energy is expected to limit growth of the global solar shed light market. Increase in import duty on solar products is also expected to limit the market growth. For instance, in February 2021, the Government of India proposed to raise import duty on solar inverters and lanterns or lamps.
Among regions, Asia Pacific is expected to witness significant growth in the solar shed light market, owing to growing e-commerce sector in the region. For instance, according to India Brand Equity Foundation, the e-commerce sector in India is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017.
Africa is also expected to witness significant growth in the solar shed light market, owing to increasing investment in solar energy in the region. For instance, in February 2021, D.light Design, an India-based solar kits firm, US$ 2.3 million to power its expansion in Kenya.
Key Takeaways
- Increasing adoption of solar energy is expected to propel growth of the global solar shed light market over the forecast period
- Major players operating in global solar shed light market include, PowerBee, Best Solar Tech, Gama Sonic, Vortex Energy, Balaji Agencies, Kingfisher Solar, and Sunforce
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers.
Section 1: Definition
Section (2 3): Manufacturer Detail
PowerBee
Best Solar Tech
Gama Sonic
Vortex Energy
Balaji Agencies
Kingfisher Solar
Sunforce
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Indoor
Outdoor
Industry Segmentation
Industrial
Commercial
Residential
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2018-2023)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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