Global Solar Traffic Products Market 2017 to 2021 - Analysis of key players (3M, Carmanah Technologies, Omega Solar, Philips Lighting, and Solar Street Lights USA)

MarketResearchNest.com adds “Global Solar Traffic Products Market 2017-2021” new report to its research database. The report spread across in 88 pages with table and figures in it.

Research analysts forecast the global solar traffic products market to grow at a CAGR of 15.62% during the period 2017-2021.
Solar traffic lights or traffic blinkers are signaling devices powered by solar panels positioned at road intersections, pedestrian crossings, and other locations to control the flow of traffic. They assign the right of way to motorists by well-lit visual indication in the universal color code of red, amber/yellow, and green. Solar traffic lights are increasingly integrated with LED lamps owing to their properties and superiority over incandescent lamps. The PV panel converts the solar rays into electricity that illuminates the LED lamps installed in the traffic light.

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Technavio recognizes the following companies as the key players in the global solar traffic products market: 3M, Carmanah Technologies, Omega Solar, Philips Lighting, and Solar Street Lights USA.

Other Prominent Vendors in the market are: Ark Lighting, Commercial energy group limited, Covimed, Elecssol, Envoys, Gemma Lighting, Greenshine New Energy, Hi-MIN SOLAR, intelizon, Jinhua SunMaster Solar Technology, KCP Solar, LIGMAN Lighting, Mallatite, SHENZHEN SPARK OPTOELECTRONICS, ISOLAR LIGHTING, Solar Electric Power Company, SolarPath sun solutions, SolarWorld Americas, Su-Kam Power Systems, Sunna-Design, Urja Global Limited, AND YANGFA LIGHTING.

The latest trend gaining momentum in the market is Development of smart cities. A smart city is an urban development that integrates information technology (IT) and internet of things (IoT) in a secure manner, to the city's functions and assets. There are over 250 smart city projects across 178 countries, globally. The smart city projects are mainly concentrated in Europe, Asia-Pacific, North America, the Middle East and Africa, and Latin America.

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According to the report, one of the major drivers for this market is Decline in LCOE of solar power generation. The levelized cost of electricity (LCOE) is a comparative measure of the overall competitiveness of different energy generating technologies. It represents the per-kilowatt-hour cost (in discounted real dollars) of building and operating a generating plant over an assumed financial life and duty cycle. Technological advances in solar power generation including the increase in efficiency of solar PV panels and reduction in PV panel size, coupled with the decline in total installation cost have reduced the unit cost of power generation making solar power cost-competitive with power generated from fossil fuels.

Further, the report states that one of the major factors hindering the growth of this market is High capital cost of installation. The installation and functioning of solar thermal plants are capital intensive in nature. It is estimated that the capital cost of a solar power plant is three to five times higher than that of conventional fossil fuel plant of the same capacity. The operational costs for solar-based systems are lesser, owing to its non-dependence on other resources, apart from the sun. However, high capital costs of installation can offset the benefits due to reduced operational costs.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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