Press release
Africa Off Grid Solar Lighting Market Growth 2019-2024 Industry Status and Outlook | SunnyMoney, BBOXX, ASE, Nuru Light, WakaWaka
High electricity deficit across rural areas of Africa plus escalating requirement for clean energy will stimulate Africa Off Grid Solar Lighting Market expansion. Nearly, 590 million of the African population, encompassing 130 million urban base, are facing power supply problems. As per Global Market Insights, Inc., “Africa Off Grid Solar Lighting Industry revenue is forecast to hit USD 1.4 billion by 2024.” Furthermore, plummeting prices of off grid renewable energy systems, owing to technological innovations and growing economies of scale are predicted to further drive the industry trends. Even today, a major chunk of the African population depends on non-renewable energy sources such as candles and kerosene, which are responsible for greenhouse effects. Thus, growing concerns over fossil fuel emissions causing climatic changes as well as fluctuations in seasonal cycles is forecast to benefit market over the years to come.
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Large Solar Home Systems, Solar Lanterns, and Solar Home Systems are the major products of Africa Off Grid Solar Lighting Industry. Solar Lanterns, which dominated the product landscape in 2015, are predicted to favor Africa Off Grid Solar Lighting market development over the coming years. High urge for inexpensive products and clean energy sources will support the growth. Solar Home Systems are projected to push Africa Off Grid Solar Lighting Market value over the coming seven years, by recording a CAGR of 17% over 2016-2024. High demand for mobiles and smart phones is expected to enhance the popularity of solar home systems.
Off Grid Solar Lighting Systems find major applications across Residential, Industrial, and Commercial sectors.
Residential application, worth USD 240 million in 2015, is projected to elevate Africa off grid solar lighting market revenue over the coming timeframe. Growing awareness about the benefits of solar lights usage over kerosene lamps will fuel the growth. Africa Off grid solar lighting market share in the commercial sector is expected to grow at a rate of 16% over the coming seven years, driven by its rising application across retail outlets to promote their business. Industrial application will hit USD 130 million by 2024, driven by continuous power supply demand for small firms to perform everyday business activities/functions.
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Partial Table of Contents (ToC) of the report:
Chapter 4. Africa Off Grid Solar Lighting Industry Product Insights
4.1. Africa off grid solar market share by application, 2016 & 2024
4.2. Solar Lantern System (SLS)
4.2.1. Market estimates and forecast, 2013 - 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3. Solar Home System (SHS)
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013 - 2024
4.4. Large Solar Home System (LSHS)
4.4.1. Market estimates and forecast, 2013 - 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 5. Africa Off Grid Solar Lighting Industry Application Insights
5.1. Africa off grid solar lighting market share by application, 2016 & 2024
5.2. Residential
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Commercial
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 - 2024
5.4. Industrial
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/africa-off-grid-solar-lighting-market
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: mailto:sales@gminsights.com
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 methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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