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Report
ASEAN Solar Lighting Market Report and Forecast 2024-2032
Market Report I 2024-01-30 I 158 Pages I EMR Inc.
ASEAN Solar Lighting Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the ASEAN solar lighting market is projected to grow at a CAGR of 7.20% between 2024 and 2032. Aided by the increasing emphasis on sustainable energy solutions and robust infrastructural development within member nations, the market is expected to grow significantly by 2032.
Solar lighting, a convergence of solar panels, batteries, and LED lights, is an eco-friendly solution aimed at harnessing solar energy to provide illumination. These systems are not only efficient and reduce carbon footprints but also curtail electricity costs, making them highly beneficial in regions with erratic power supplies.
The ASEAN region, blessed with abundant sunlight throughout the year, is primed for harnessing solar energy. This geographical advantage, combined with rising awareness about clean energy and sustainable infrastructural development, is fuelling the ASEAN solar lighting market demand across member countries.
Driving the ASEAN solar lighting market's trajectory is the increasing governmental focus on renewable energy. Various ASEAN nations have rolled out initiatives, subsidies, and incentives to promote solar energy adoption, pushing both individuals and businesses to integrate solar lighting solutions in their establishments and infrastructures.
As per the ASEAN solar lighting market analysis, rapid urbanisation and infrastructural development, especially in countries like Indonesia, Vietnam, and the Philippines, have given rise to numerous projects, from highways to residential complexes, where solar lighting systems are becoming the preferred choice. These projects, coupled with the push towards smart cities, have opened avenues for the integration of advanced solar lighting solutions with IoT and other technologies.
The region also witnesses a rise in off-grid solar lighting, primarily in rural and remote areas where the electricity grid hasn't yet reached or is inconsistent. This not only illuminates households but also significantly impacts socio-economic activities, enabling extended working hours and safer nighttime environments.
Furthermore, with innovation and research, the future beams bright for the ASEAN solar lighting market growth. Advancements in battery storage technology, combined with the decreasing cost of solar panels and the advent of efficient LEDs, will further enhance the viability of solar lighting solutions. Additionally, as member nations continue to strengthen inter-country collaborations, opportunities for cross-border technological transfers and joint ventures may further bolster market growth.
Market Segmentation
The market can be divided based on type, application, and country.
Market Breakup by Type
- Street Light
- Bulb/Tube Light
- Decorative Light
- Others
Market Breakup by Application
- Residential
- Commercial
- Industrial
- Public Sector
Market Breakup by Country
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the ASEAN solar lighting market. Some of the major players explored in the report by Expert Market Research are as follows:
- Eliossive Sdn. Bhd.
- SOL-Lite (M) Sdn Bhd
- Greenmax Lighting Pte Ltd
- LIGMAN Lighting Co.,Ltd.
- Green Age Solar Technology
- Lekise Lighting Co., Ltd.
- Lighting And Equipment Public Company Limited
- Utica Private Limited
- FSI Vietnam Company Limited
- Minh Hung Long Production Trading Co., Ltd (Paragon)
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 ASEAN Solar Lighting Market Overview
8.1 Key Industry Highlights
8.2 ASEAN Solar Lighting Historical Market (2018-2023)
8.3 ASEAN Solar Lighting Market Forecast (2024-2032)
9 ASEAN Solar Lighting Market by Type
9.1 Street Light
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Bulb/Tube Light
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
9.3 Decorative Light
9.3.1 Market Share
9.3.2 Historical Trend (2018-2023)
9.3.3 Forecast Trend (2024-2032)
9.4 Others
10 ASEAN Solar Lighting Market by Application
10.1 Residential
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Commercial
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 Industrial
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Public Sector
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
11 ASEAN Solar Lighting Market by Country
11.1 Malaysia
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.1.4 Breakup by Type
11.1.5 Breakup by Application
11.2 Philippines
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.2.4 Breakup by Type
11.2.5 Breakup by Application
11.3 Singapore
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.3.4 Breakup by Type
11.3.5 Breakup by Application
11.4 Thailand
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.4.4 Breakup by Type
11.4.5 Breakup by Application
11.5 Vietnam
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.5.4 Breakup by Type
11.5.5 Breakup by Application
11.6 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyers Powers
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Eliossive Sdn. Bhd.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 SOL-Lite (M) Sdn Bhd
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Greenmax Lighting Pte Ltd
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 LIGMAN Lighting Co.,Ltd.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Green Age Solar Technology
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Lekise Lighting Co., Ltd.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Lighting And Equipment Public Company Limited
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Utica Private Limited
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 FSI Vietnam Company Limited
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Minh Hung Long Production Trading Co., Ltd (Paragon)
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. ASEAN Solar Lighting Market: Key Industry Highlights, 2018 and 2032
2. ASEAN Solar Lighting Historical Market: Breakup by Type (USD Million), 2018-2023
3. ASEAN Solar Lighting Market Forecast: Breakup by Type (USD Million), 2024-2032
4. ASEAN Solar Lighting Historical Market: Breakup by Application (USD Million), 2018-2023
5. ASEAN Solar Lighting Market Forecast: Breakup by Application (USD Million), 2024-2032
6. ASEAN Solar Lighting Historical Market: Breakup by Country (USD Million), 2018-2023
7. ASEAN Solar Lighting Market Forecast: Breakup by Country (USD Million), 2024-2032
8. ASEAN Solar Lighting Market Structure
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