ASEAN Solar Lighting Market Report and Forecast 2024-2032

According to the report, 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 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 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