Top 5 Vendors in the Global Solar Traffic Products Market from 2017 to 2021: Technavio

September 4, 2017

LONDON–(BUSINESS WIRE)–#Energy—Technavio
has announced the top five leading vendors in their recent global
solar traffic products market 2017-2021 report. This market
research report also lists 22 other prominent vendors that are expected
to impact the market during the forecast period.

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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Technavio market research analysts identify the following key
vendors:

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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