Market Highlights of Solar Street Lighting Market:-
Global solar street lighting market will witness steady growth with CAGR of around 21.02% during forecast period 2018-2023.
Increasing demand for clean and renewable energy, easy setup and low cost of maintenance during its operation fuel the growth of the solar street lighting market. Growing awareness about environment leads to consumers relying on solar energy for reducing the environmental pollution. The government regulations enhance the use of solar panels as energy source in rural and suburban areas for lighting the street lights, but the battery used to store the power gets affected due to overcharge and discharges.
Industry Top Key Players:-
- Solektra International LLC
- Bridgelux Inc.
- SOKOYO Solar Group
- Dragons Breath Solar
- Solar Street Lights USA
- Sunna Design
- VerySol Inc.
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The global solar street lighting market is segmented on the basis of product, type, application, and region. In products, there are LED and CFL. LED lights consume less electricity and are safer and much cooler than incandescent lights, thus reducing the risk of combustion. They are sturdier as they are made with epoxy lenses, not glass, and are much more resistant to breakage. On the other hand, since CFLs use one-quarter the electricity of a regular incandescent light bulb, they cost less and produce less environmental pollution.
The market is segmented on the basis of type, which is standalone and on grid. High costs associated with street light infrastructure makes these products an attractive alternative. Rising adoption of Pico-solar systems subject to favorable regulatory reforms toward expansion of isolated solar networks will further boost the product penetration into the market.
The global solar street lighting market is spread across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa and the rest of the world. The United States and Europe regions have experienced rapid development in terms of solar street lighting. However, solar powered LED lighting products are also marketed by suppliers to third world countries or developing countries such as India and in the Middle East. Geographically, the global solar street lighting market is dominated by Asia Pacific. The extensive progress of the Asia Pacific market can be attributed to the proliferating urbanization in countries such as India and China. This is owing to growing gross domestic product of economies in the region, and increasing high-end technologies from developed regions, are also proving beneficial. India also is steadily becoming a prominent solar street lighting market player due to escalation in infrastructure development of roads and highways, smart cities and smart homes.
Due to initiatives and programs such as subsidies and campaigns introduced by World Bank and International Finance Corporation (IFC) to promote solar street lighting products, Africa is expected to witness augmentation of growth of solar street lighting market
Table Of Contents:-
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
4 Market Dynamics
5 Global Solar Street Lighting Market By Type
5.2.1 Market Estimates & Forecast, 2018-2023
5.2.2 Market Estimates & Forecast By Region, 2018-2023
5.3 On Grid
5.3.1 Market Estimates & Forecast, 2018-2023
5.3.2 Market Estimates & Forecast By Region, 2018-2023
6 Global Solar Street Lighting Market, By Product Type
6.2 Compact Fluorescent Lamps (CFL)
6.2.1 Market Estimates & Forecast, 2018-2023
6.2.2 Market Estimates & Forecast By Region, 2018-2023
6.3 Light Emitting Diode (LED)
6.3.1 Market Estimates & Forecast, 2018-2023
6.3.2 Market Estimates & Forecast By Region, 2018-2023
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