Sliding prices of components such as LEDs, batteries, and photovoltaic chips are prompting off-grid solar power product manufacturers in directing investments and funds towards enhancement of technology, efficiency, and durability of their offerings, states TMR in a recent report.

1. Declining Prices and Rising Efficiencies of Off-
grid Solar Lighting Products Brighten up
Growth Prospects of Off-grid Solar Lighting
Market
Sliding prices of components such as LEDs, batteries, and photovoltaic chips are
prompting off-grid solar power product manufacturers in directing investments and
funds towards enhancement of technology, efficiency, and durability of their
offerings, states TMR in a recent report.
In the fragmented off-grid solar lighting market, featuring few large-scale vendors
such as Koninklijke Philips N.V., OSRAM GmbH, Total S.A., and SunnyMoney, and
several small- and medium-sized players, pricing of products is a major determinant
of success.
Request to view Sample Report:
http://www.transparencymarketresearch.com/sample/sample.php?
flag=S&rep_id=11273
Government initiatives in the form of tax abatements and tax-free loans are
encouraging vendors to introduce highly cost competitive products; technology
innovations and patented technologies are also being introduced at a rapid pace in
the market and companies are launching products that can suit the diverse needs of
consumers. Recently, in March 2015, market leader Koninklijke Philips N.V. launched
the Philips LifeLight, which is a range of zero-energy solar powered LED lighting
solutions. The product range comprises two sophisticated pendant lights and a USB
port for charging mobile phones that is connected to a solar panel. The lights in the
product have demonstrated 10 times longer lasting light as compared to candles
and kerosene lamps. Total S.A. launched an adaptable 48 volt solar house kit in
January, 2016, whose capacity can be extended with the addition of solar panels
and batteries.
Low Electrification Rates to Work in Favor of Off-grid Solar Power
Reliable access to electricity is one of the most prominent challenges for millions of
households in countries across Latin America, Africa, and Asia Pacific, making them
directly dependent on off-grid power sources. Most of these households reside in
rural areas and come from low to moderate income groups. The cost-effective and
reliable off-grid solar power technology makes for a fitting power supply option for
this demographics, prompting companies to make non-traditional regions a key part
of their growth strategy.

2. As for many other solar power technologies, the market for off-grid solar lighting
has witnessed increased traction owing to the rising affordability of off-grid solar
lighting products. Products such as solar lanterns and solar batteries have witnessed
increased demand in remote parts of developing and under-developed parts of the
globe that are not connected to conventional grids.
The rising consumer base of mobile devices such as smartphones and tablets in
Asia Pacific and Africa has also augured well for the market. Increasingly reliable
and innovative products such as the solar batteries capable of recharging mobile
devices are becoming highly popular among the remotely located and mostly
underserved demographics in these regions. The high consumer-base of mobile
devices is also expected to have a major impact on the demand for off-grid multi-
functional solar power systems.
Request to download and view full ToC @
http://www.transparencymarketresearch.com/sample/sample.php?
flag=B&rep_id=11273
Off-grid Solar Lighting Products to Completely Replace Kerosene
The increased prices of kerosene is also a major reason why the consumer is shifting
from the biologically and environmentally hazardous fuel to off-grid solar lighting
products. As of 2013, nearly 18% of the world’s population was directly dependent
on fuels like kerosene for lighting purposes.
The overall financial gains of this shift are also enormous, prompting government
bodies in making major contributions towards raising consumer awareness on this
front. “Households with no electricity spend over US$30 bn every year on kerosene
for lighting purposes. On the other hand, the cost of providing solar lighting
products for an equivalent amount of light and power can be as less as US$2.7 bn.
This can encourage household savings of about 10%-15% annually. The drastic cut
down on costs for lighting can have a major impact on the overall development of
emerging economies,” says a TMR analyst.
Restraining the market from achieving widespread appeal and a larger consumer
base are factors such as limited distribution channels, lack of consumer awareness,
and issues about access to finance.
The Asia Pacific off-grid solar lighting market is expected to rise in terms of revenue
from US$365.09 mn in 2014 to US$2,294 mn in 2024. The number of units of off-
grid solar lighting solutions sold in the region is expected to rise from 6.06 mn in
2014 to 46.20 mn in 2024. Trailing the Asia Pacific market for off-grid solar lighting
will be the Africa market, which is expected to rise from US$269.9 mn in 2014 to
US$2,117.9 mn in 2024 in terms of revenue.
View Report @ http://www.transparencymarketresearch.com/off-grid-solar-
lighting-market.html

3. 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 business offerings represent
the latest and the most reliable information indispensable for businesses to sustain a competitive
edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals,
chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and
technology. These reports provide in-depth analysis and deep segmentation to possible micro
levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to
provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com