Press release
Rising Prices of Kerosene Oil to Aid Adoption of Off-grid Solar Lighting Products
Due to the underdeveloped grid infrastructure and power generation facilities in developing regions, the demand for alternative modes of energy is substantially increasing. According to a survey, in 2013 approximately 18% of the world’s population was deprived of electricity. As a result of this, the dependence on solid and liquid fuels such as wood, coal and, kerosene increased at a significant rate. To decrease the pressure on solid and liquid fuels, and cut down the annual costs incurred on lighting, both developing and developed countries are focusing on the development of high-end off-grid solar lighting systems. Concerns regarding the depletion of non-renewable resources are expected to further drive the adoption of off-grid solar lighting techniques.According to a report published by Transparency Market Research, the global off-grid solar lighting market is expected to rise at a 17.56% CAGR between 2016 and 2024. Geographically, Asia Pacific dominated the global off-grid solar lighting market in 2014 with a market worth US$365.09 mn. It is expected to maintain a lead and to rise to a valuation of US$2,294 mn by 2024.
Interpret a Competitive outlook Analysis Report with free PDF Brochure : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11273
How will developing countries play a role in the growth of the off-grid solar lighting market?
One challenge that developing nations are currently facing is providing electricity to remote and rural areas. The mounting costs of kerosene and other energy sources such as coal and wood are impelling consumers towards the adoption of alternative sources of energy. Governments of countries in Asia Pacific, Africa, and Latin America are taking initiatives to shift their dependence directly on off-grid solar lighting sources. As off-grid solar lighting systems are reliable and cost-effective, their demand is considerably increasing in developing countries. Moreover, development of innovative solar portable devices, grid infrastructure, and high penetration of mobile phones in Africa and Asia Pacific is further expected to boost the demand for off-grid solar lighting equipment.
For instance, recently, a London-based off-grid solar lighting systems provider, BBOXX Ltd., raised US$20 mn to enhance the off-grid solar infrastructure in Africa and to develop the grid infrastructure in various remote areas of the region. The company aims at covering areas in Rwanda, the Ivory Coast, Nigeria, Kenya, and Cameroon.
What factors are likely to impede the adoption of off-grid solar lighting systems?
Developing regions such as Africa, Latin America, and Asia Pacific have an underdeveloped grid infrastructure. Problems related to financial access and funding to develop and set up off-grid solar lighting systems in these regions are likely to restrain the growth of the global off-grid solar lighting market. Lack of proper distribution channels and transportation facilities are further likely to restrain the demand for off-grid solar lighting systems. Moreover, the absence of enough knowledge among consumers regarding the use and benefits of off-grid solar lighting is another factor that is likely to negatively impact the adoption of off-grid solar lighting systems in the coming years.
Are there any specific areas that deserve greater focus on the part of companies in the off-grid solar lighting market?
Manufacturers of off-grid solar lighting systems are likely to gain lucrative growth opportunities from the rising demand for solar lantern systems and solar home systems from developing regions. Ongoing research and development activities for the development of technologically advanced off-grid solar lighting systems are also likely to provide potential growth prospects to manufacturers.
The key players operating in the global off-grid solar lighting market are OSRAM GmbH, Koninklijke Philips N.V., Niwasolar, Tata Power Solar Systems Ltd., SunnyMoney, and BBOXx Ltd. among others.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Transparency Market Research
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Rising Prices of Kerosene Oil to Aid Adoption of Off-grid Solar Lighting Products here
News-ID: 365807 • Views: …
More Releases from TMR Energy Research
Rising Oil and Gas Exploration in Unconventional Locations to Drive Global FPSO …
A recent market research report published by Transparency Market Research gives a thorough analytical account of the present state of the global FPSO market and forecasts the future growth prospects of key market segments over the period between 2015 and 2021.The report, titled “FPSO Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021,” states that the market will expand at an exponential CAGR of 16.2%…
Rampant Urbanization Impels Governments to Look for Alternatives such as Bioener …
The bioenergy market includes products such as bioethanol, biogas, biodiesel, and others. These products are used for cooking, transportation, off-grid electricity supply, and for other purposes. The shifting focus of several countries towards green energies has put the spotlight on forms of bioenergy such as biodiesel and ethanol as suitable alternatives for operating vehicles. Furthermore, the increasing gap between depleting reserves of fossil fuels and the growing demand for energy…
More Releases for Transparency
Transparency Market Research
A belt drive is a type of power transmission device which is a looped belt wound around a pair of pulley so as to transmit power between two or more rotating shafts. Compared to other power transmitting devices, belt drives are more preferred in mechanical industry due to easy installation, numerous speed ratio selections, less power loss and comparative low price. Belt drive protects the rotating machinery from overload fluctuations…
Transparency Market Research
An ultrasonic motor is an electric motor which is driven by the ultrasonic vibration of a component. The stator of the motor is supported by piezoelectric components in ultrasonic frequency range which produces different types of vibrations depending on its arrangement. In other words, ultrasonic motor is a type of electric motor that transforms ultrasonic physical vibrations to linear motion, produced by a piezo-transducer. Ultrasonic motors therefore do not use…
Transparency Market Research
The global Li-Fi market is expected to exhibit growth at a robust pace between 2016 and 2023. Massive bandwidth owing to the growing RF spectrum crunch, together with a high degree of security and energy efficiency are expected to bolster the global Li-Fi market.
While the features offered by Li-Fi and visible light communications (VLC) are quite similar, unlike the latter, Li-Fi does not require line-of-sight between receiver and transmitter. The…
Transparency Market Research
A new research report published by Transparency Market Research states that the global dental bone graft substitutes and other biomaterials market is expected to grow due to the continuous rise in periodontal (gum) diseases along with growing incidence of dental fractures. The report, titled “Dental Bone Graft Substitutes and other Biomaterials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, is available for sale on…
eProcurement: Instant Transparency
ifm Achieves Better Prices in Indirect Procurement with JAGGAER solution
Vienna | Research Triangle, NC, USA | Essen, August 09, 2017 – ifm, the specialist for sensors in automation technology, has said goodbye to manual processing in indirect procurement once and for all. With the eProcurement digital procurement tool from JAGGAER, provider of the world’s most comprehensive Source to Pay (S2P) indirect and direct solution suite, more than 6000 employees…
More transparency in Engineering IT
CPO certification helps evaluate openness of IT systems
Digitalization is making openness in the linking of IT solutions increasingly important. The Code of PLM Openness (CPO), developed by the ProSTEP iViP Association, supplies a concrete approach for achieving precisely that. Fraunhofer IAO has now developed an effective certification for companies, which helps them comply with the CPO criteria.
Industrie 4.0 requires intensified collaboration between various tools and systems. Only when…
