Technavio has announced the top five leading vendors in their recentglobal solar traffic products market 2017-2021report. This market research report also lists 22 other prominent vendors that are expected to impact the market during the forecast period.
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Technavio has published a new report on the global solar traffic products market from 2017-2021. (Graphic: Business Wire)
Competitive vendor landscape
According to the research analysis, the global solar traffic products market is expected to grow at a CAGR of close to 16% during the forecast period. The market is characterized by the presence of well-diversified international, regional, and local vendors. However, as international players are increasing their footprint, regional vendors are finding it difficult to compete with them in terms of quality, technology, and price. The competitive environment in this market will further intensify with an increase in product or service extensions, innovations in technology, and mergers and acquisitions (M&As). International players will grow inorganically by acquiring regional or local players, during the forecast period.
In several developing and underdeveloped economies, local or regional vendors dominate the market, thereby increasing market competition. The global solar traffic products market is expected to grow significantly in the future because of increased small-scale demand from various countries. Vendors offer a range of solar products such as street lights, solar traffic lights, and solar road studs. For instance, leading vendor 3M offers solar road studs to cater to the increasing demand for the product.
"The increased adoption of LEDs in different application segments will attract many vendors to invest in new technologies, which will lead to a restructuring of the market. Vendors can diversify their distribution mediums to cater to the growing demand. E-commerce has proven to be a reliable medium for businesses to expand and strengthen their distribution network. Vendors in China involved in the manufacture and distribution of solar traffic products have already set foot in e-commerce space through the e-commerce behemoth Alibaba," says Neelesh Prakash Singh, a lead power sector research analyst from Technavio.
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Technaviomarket research analysts identify the following key vendors:
3M
3M is a global company operating in a wide range of segments such as displays and graphics, electronics, electrical and communications, office, and healthcare. Industrial, safety and graphics, healthcare, electronics and energy, and consumer. 3M provides road safety equipment as a part of its traffic safety systems division. 3M offers solar raised pavement markers. These are made of polycarbonate material and use only two LEDs.
Carmanah Technologies
Carmanah Technologies is a manufacturer and distributor of products that are focused on energy-optimized LED solutions for infrastructure. The company operates through two business segments: Signals and illumination. The signals segment serves various sectors including, airfields, offshore wind, marine, and traffic. The company offers solar traffic products under its illumination business segment.
Omega Solar
Omega Solar has been at the forefront of the manufacturing and promotion of solar street lights and electric fencing systems under the brand name of Omega Solar for industrial and agricultural applications for over 10 years now. Omega solar offers solar street lighting as one of its primary product offerings. The company offers CFL and LED street lighting products.
Philips Lighting
Philips Lighting provides lighting products, systems, and services. Philips is organized into three main divisions Philips Consumer Lifestyle, Philips Healthcare, and Philips Lighting. Philips Lighting believes that the industry is transforming from conventional lighting to innovative LED and connected lighting systems that unlock new value and experiences for its customers and partners. The company plans on embedding lighting into the Internet of Things.
Solar Street Lights USA
Solar Street Lights USA is involved in the design, manufacture, and supply of solar solutions. It provides solar lighting products. The company serves a wide range of end key markets and sells its products in areas of Latin America. The company offers solar street light products such as gridfree, turtle lighting, gridsmart, horizon series, SPL series, and intense sun mobile solar light tower.
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