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. Driven by factors such as rapid urbanisation, increasing awareness about renewable energy, and government initiatives promoting sustainable development, the market is expected to grow significantly by 2032.
Solar lighting systems harness solar energy to generate electricity, which is stored in batteries and used to power LED (Light Emitting Diode) lights. These systems typically consist of solar panels, batteries, charge controllers, LED lights, and sometimes, motion sensors. Solar lighting solutions offer numerous benefits, including energy efficiency, cost savings, environmental sustainability, and independence from grid electricity.
As per the ASEAN solar lighting market analysis, in remote and off-grid areas of the ASEAN region, where access to electricity is limited or unreliable, solar lighting solutions offer a viable alternative to traditional grid-based lighting. Off-grid solar lighting systems provide illumination for streets, pathways, public spaces, and homes, improving safety, security, and quality of life for communities. As governments and NGOs (Non-Governmental Organizations) prioritise rural electrification initiatives and off-grid energy access, the demand for solar lighting solutions is expected to escalate in the ASEAN region.
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The rapid pace of urbanization in ASEAN countries is driving the deployment of solar lighting solutions in urban and peri-urban areas. Solar street lights, park lights, and outdoor lighting fixtures are being installed in cities and municipalities to enhance public lighting infrastructure, reduce energy consumption, and beautify urban landscapes. Additionally, solar-powered lighting systems are being integrated into smart city projects and infrastructure development plans to create energy-efficient, sustainable urban environments, consequently driving up the ASEAN solar lighting market share.
With increasing concerns about climate change, pollution, and environmental degradation, there is a growing emphasis on adopting clean, renewable energy solutions in the ASEAN region. Solar lighting aligns with sustainability goals by reducing greenhouse gas emissions, minimising reliance on fossil fuels, and conserving natural resources. Governments, businesses, and consumers are increasingly embracing solar lighting as part of their commitment to environmental stewardship and sustainable development, leading to ASEAN solar lighting market expansion.
Governments across the region are implementing supportive policies, incentives, and subsidies to promote the adoption of solar energy and expand the solar lighting market. These measures include tax incentives, feed-in tariffs, rebates, grants, and regulatory frameworks that facilitate the deployment of solar lighting systems. Additionally, initiatives such as rural electrification programs, renewable energy targets, and green building standards are driving the uptake of solar lighting solutions in both urban and rural areas.
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Market Segmentation
The market can be divided based on the type, application, and region.
Market Breakup by Type
- Street Light
- Bulb/Tube Light
- Decorative Light
- Others
Market Breakup by Application
- Residential
- Commercial
- Industrial
- Public Sector
Market Breakup by Region
- 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 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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