Press release
Africa Off Grid Solar Lighting Market | Key players in the industry include Philips, and WakaWaka. Other industry players include BareFoot Power, D Light, Sun Tech, BBOXX, ASE, and Nuru Light
The market is categorized on application basis as residential, commercial, and industrial. Commercial application segment accounted over 20% of total share in 2015 and is forecast to reach USD 310 million, with calculated at over 16% CAGR.
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Increasing need to enlighten rural Africa by clean light source is forecast to be key growth driver. Approximately, over 590 million of the regional population have no access to electricity, which includes over 130 million urban populations. Furthermore, large population segment is dependent on conventional light source such as kerosene lamps and candles. Oscillating kerosene prices coupled with increasing awareness regarding health hazards synced with conventional light source may complement off grid solar lighting market from 2016 to 2024.
Technological development offers added features such as extra battery life and multiple features such as mobile charging. Increasing cell phone customer base is anticipated to drive off grid solar lighting market over forecast timeframe.
Key insights from the report include:
Solar lanterns product segment was dominant product segment in 2015 accounting over 50% of total share. Increasing demand for portable, affordable, and clean electricity source in rural Africa is forecast to drive Africa off grid solar lighting market size for solar lanterns.
Solar Home System (SHS) is projected to expand at over 17% CAGR up to 2024. Increasing customer base for cell phones is likely to boost SHS demand over the forecast timeframe.
Residential applications were largest in 2015, increasing awareness to replace kerosene lamps with solar lights is likely to boost off grid solar lighting market size for residential application.
Industrial application is forecast to reach 2.7 million units by 2024, with highest gains at over 16% CAGR.
Kenya off grid solar lighting market size dominated Africa in 2015 and is forecast to remain largest over the forecast timeframe owing to large number of retail stores, government incentives, and financial stability in the country.
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Africa off grid solar lighting market share is fairly fragmented with large number of local suppliers. Major industry players include SunnyMoney, WakaWaka, and, Philips. Other market share contributor includes BareFoot Power, BBOXX, ASE, Sun Tech, and Nuru Light.
Chapter 1. Methodology and Scope
1.1. Research methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.2. Data sources
Chapter 2. Executive Summary
2.1. Africa off grid solar lighting industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Country trends
Chapter 3. Africa Off Grid Solar Lighting Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.4. Regulatory landscape
3.5. Innovation & sustainability landscape
3.6. Industry Impact forces
3.6.1. Growth drivers
3.6.1.1. Increasing off grid electricity demand
3.6.1.2 Decreasing solar Lighting product cost
3.6.1.3. Increasing kerosene prices
3.6.1.4. Expanding customer base for cell phones.
3.6.2. Industry pitfalls & challenges
3.6.2.1. Lack of customer awareness
3.7. Growth potential analysis
3.8. Porter's analysis
3.9. PESTEL analysis
3.10 Competitive landscape
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research
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