What is Pico Solar Photovoltaic Consumer Products Market?
Pico Solar Photovoltaic Consumer Products are defined as a small PV system with a power output ranging from 1 to 10W that is primarily used for lighting and thus capable of replacing unhealthy and inefficient sources such as kerosene lamps and candles. Small ICT applications (e.g., mobile phone chargers, radio) can also be added depending on the model. Pico Solar PV systems use a battery that can be integrated into the lamp and is powered by a small solar panel. Pico Solar PV systems have a number of advantages, including ease of installation (Plug & Play), user-friendliness, low investment costs, little maintenance required, a high degree of expandability, and flexibility in use. Prices are generally within most rural people's payment capacity in developing countries.
Highlights from Pico Solar Photovoltaic Consumer Products Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Barefoot Power (Australia), Panasonic (Japan), Yingli Green Energy (China), Signify NV (Netherlands) and Fosera Group (Germany) |
The Pico Solar Photovoltaic Consumer Products market covers the industry's key players, including company profiles, product specifications, production capacity, sales, revenue, price, and gross margin & sales, as well as a comprehensive analysis of the market's competitive landscape and detailed information on vendors, as well as comprehensive details of factors that will challenge the growth of major market vendors. Research Analyst at AMA predicts that Chinese Manufacturers will contribute to the maximum growth of Global Pico Solar Photovoltaic Consumer Products market throughout the forecasted period.
Barefoot Power (Australia), Panasonic (Japan), Yingli Green Energy (China), Signify NV (Netherlands) and Fosera Group (Germany) are some of the key players profiled in the study. Pico Solar Photovoltaic Consumer Products Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Home Use and Commercial Use |
Type | Solar Battery, Electrical Equipment and Equipment, Solar Photovoltaic Battery Pack, Photovoltaic Power Supply, Solar Photovoltaic Power Plant and Other |
Distribution Channel | Direct Channel,Distribution Channel |
On the basis of geography, the market of Pico Solar Photovoltaic Consumer Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Innovation in the Pico Solar Photovoltaic Products with New Technology and Technological Advancement in Pico Solar Photovoltaic Products Technology has helped to lower the cost and also has helped to better deployments
Market Growth Drivers:
Increasing Requirement for Pico Solar Photovoltaic Products, Rising Concerns Regarding Climate Change and Growing Solar Systems Installation
Challenges:
High cost of Maintenance and additional energy storage devices hindering Pico Solar Photovoltaic Products Market
Restraints:
Pico Solar Photovoltaic Products Represent Higher Investment Costs
Opportunities:
Governmental Authorities Are Concentrating On Pico Solar Photovoltaic Products and Investing More to Produce Energy through Solar Panels
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Pico Solar Photovoltaic Consumer Products Manufacturers, Pico Solar Photovoltaic Consumer Products Suppliers & Distributors, Government Bodies, End-Users and Others
Market Leaders & Development Strategies
In 2016, Panasonic acquired Hussmann Corporation, a U.S.-based manufacturer of refrigeration systems and other equipment for the retail industry.
The Malawi Energy Regulatory Authority (MERA) and the Malawi Bureau of Standards are in charge of the national regulation of Pico solar products (MBS). MERA issues licenses for product importation and sale, and all licensed suppliers must provide consumers with at least a one-year warranty. MBS is in charge of issuing import certificates for products that meet a set of national standards established in 2004/5. National regulations and standards may be beneficial given the rapid development of Pico solar technology (LEDs, advanced batteries, and integrated designs). The World Bank/IFC Lighting Global Standards are the international industry standards and represent an existing framework that could be useful in the Malawian context.