Published On : 27 Oct 2017
The global solar traffic products market has been anticipated to embrace a steady growth in the near future owing to certain factors such as the evolvement of photovoltaic (PV) panel technologies and reducing prices of lighting units. According to QYReseachReports.com, the market could see a classification as per two categories, viz. product and application. In a report titled, “Global Solar Traffic Products Market Professional Survey Report 2017,” and put on sale by the market research data source, India, Japan, Southeast Asia, Europe, China, and North America have been expansively studied as key geographies.
By product, the world solar traffic products market has been prognosticated to be segregated into solar road studs, solar street lights, and solar traffic lights. In terms of application, there could be important segments such as construction, railway, and road taking shape in the market.
The world solar traffic products market, as identified by expert researchers, could lay hopes on more factors of growth such as the emergence of smart cities, advent of energy-efficient lighting technologies, and growing government support. However, there could be some challenges raising their heads up in the market, which could hinder the progress of industry players. These have been expected to be in the form of counterfeit products posing a strong competition and the lack of worldwide light-emitting diode (LED) standardization. Moreover, the high capital investment required for installation could discourage the demand for solar traffic products.
Nevertheless, the world solar traffic products market has been foretold to recover on the back of the increasing integration of solar traffic lights with LED lamps due to their supremacy over incandescent lamps and their properties. The rising preference over conventional luminaries and adoption of LEDs have been predicted to be crucial for the growth of solar street lights. This could be supported by increasing government initiatives on resource management and energy conservation.
Electricity generation in solar street lightings as renewable sources is carried out using PV panels mounted over the lighting structure. In the foreseeable future, grid-connected solar street lighting systems could experience a boost in their demand with the rise of government programs such as feed in traffic (FIT) and net metering. SunPower, for instance, has expressed its intentions to explore India, China, and Africa markets with the acquisition of Cogenra to create a new range of modules.
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Asia Pacific could make its contribution to the international solar traffic products market while riding on the employment of energy-efficient lights supported by government initiatives in Taiwan, South Korea, Japan, China, and India. The African market helped with the creation of innovative financial instruments and the rise of financing for companies operating therein could be an example of funding for developing markets. Emerging nations have been projected to enjoy the latecomer advantage in leveraging green solutions and eco-innovation. However, developed nations such as the U.S. have significantly upped their renewable energy investment, which could be mainly controlled by solar power. This could augur well for the growth of the market in developed regions.
The worldwide solar traffic products market has been prophesied to witness the presence of prominent industry names such as Ark Lighting, Carmanah Technologies, 3M, Philips Lighting, and Omega Solar. The market could be restructured as companies look to invest in newer technologies with the elevating adoption of LED in various applications. With a view to satisfy the snowballing demand, companies have been forecast to diversify their distribution channels. Companies could continue to rely on ecommerce as a dependable medium to expand their business and fortify their distribution network. Alibaba could be a fine instance to follow that reveals China’s foothold in ecommerce widely used by manufacturing and distribution companies in the country.
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