Press release
Africa Off Grid Solar Lighting Market to grow at 16% CAGR during forecast by 2024
Africa Off Grid Solar Lighting Market
Africa off grid solar lighting industry is segmented into different products like solar home system, large solar home system and solar lantern system. Solar home system (SHS)segment is predicted to register CAGR of more than 16% during forecast timeline. It provides additional features like small electronic gadget charging as well as cell phone charging. All these factors are predicted to promote demand for the segment.
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Large solar home system (LSHS) is predicted to touch $111 million mark by end of 2024. People belonging to middle income group population in developed African nations like South Africa are shifting to LSHS due to irregular supply of power and due to ability of LSHS bulbs to light 4 to 5 bulbs. All these factors are predicted to drive segment growth.
Solar lantern system(SLS) contributed more than $191 million for 2015. It provides maximum illumination at lesser price. This system can prove to be a boon to large amount of African population belonging to low income groups having no power supply. All these factors can stimulate product demand during forecast timeline.
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Key Manufacturers:
BareFoot Power
D Light
Sun Tech
SunnyMoney
BBOXX
ASE
Nuru Light
WakaWaka
Koninklijke Philips N.V
Kenya off grid solar lightning market share was evaluated at more than $85.1 million for 2015. Increasing requirement for reducing lightning expenses in the region is predicted to be key factor driving industry expansion in the country during forecast timeframe. Technological breakthroughs , low prices, long battery life span and portability are few of the major factors leading to industry growth.
Growth drivers :
oIncreasing off grid electricity demand
oDecreasing solar Lighting product cost
oIncreasing kerosene prices
oExpanding customer base for cell phones
South Africa is predicted to touch $65 million mark by end of forecast timeframe. Large proportion of population fall under middle income groups in this country and this may propel demand for LSHS product in the region owing to its lucrative offers like charging ports & multiple lights.Industrial application segment is predicted to touch $130 million mark by end of forecast timeline. Off grid lightning products can help small scale firms with uninterrupted power supply for smooth functioning of daily business procedures. Commercial application segment is predicted to register CAGR of 16% during forecast timeframe. It can be utilized in small scale industries like retail firms helping in contributing towards additional working hours at night that can boost their sales.
Partial Table of Contents (ToC) of the report:
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
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