The rising demand for energy in across the world is propelling the growth of the global solar street lighting market, says Fortune Business Insights in a report, titled “Solar Street Lighting” Market Size, Share and Global Trend by Product Type (CFL, LED), By Connection Type (Standalone, Grid Connected), By End User (Commercial, Residential, Industrial), And Geography Forecast till 2026.” The rising preference shift towards green energy is contributing positively towards the solar street lighting market.
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Some of the major companies that are present in the global solar street lighting market are
- Philips Lighting Holding B.V
- SOKOYO Solar Group
- Dragons Breath Solar
- VerySol Inc.
- Sunna Design
- Urja Global Ltd.
- Bridgelux Inc.
- Solar Street Lights USA
- Sol Inc
- Omega Solar
- Solektra International LLC
- Yingli Solar
- Greenshine New Energy.
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sources is driving the global street light industry. However, the high installation cost of solar panels is one of the factors restraining the growth of the global solar street lighting market.
Key Market Driver – Drift toward renewable sources of energy due to environmental considerations
Key Market Restraint – High initial cost associated with the installation of solar panels
Europe to Contribute Significantly to the Global Market
Geographically, the global solar street lighting market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to witness high growth due to strict carbon emission regulations and government initiatives towards green energy sources which in turn is boosting the market in the region. Europe is predicted to dominate the global solar street lighting market owing to advanced technology and an efficient distribution network. Other countries in Europe such as Italy, the UK, and Spain are also witnessing significant growth. In the Asia Pacific, rapid urbanization, drift towards green energy and government initiatives for solar installations are supporting the growth of solar street lighting market. China and India are the key markets in this region. South Africa has been the most successful country in the production of solar energy in the Middle East region. Thus this factor is expected to support the expansion of the solar light industry in the region.
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Key Segmental Overview:
1. By Product Type
2. By Connection Type
- Grid Connected
3. By End-User
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Netherlands, Norway, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina, Venezuela, Chile and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, Nigeria and Rest of Middle East & Africa)
Key Industry Developments
- In Apr 2019, Hitechled launched new type of all in one integrated solar street light with innovation draw design which holds LED lamp, solar panel, lithium battery and controller.
- In Dec 2018, India is going to invest D7.13 million to install 304,500 solar street light under second phase of Atal Joyti Yojna.
- In Dec 2018, Nigerian street light poised to exceed D200 million by 2024 owing to government initiatives and foreign investment towards the development of renewable energy sector.
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Major Table of Content For Solar Street Lighting Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Solar Street Lighting Market Analysis, Insights and Forecast, 2026
- North America Solar Street Lighting Market Analysis, Insights and Forecast, 2026
- Europe Solar Street Lighting Market Analysis, Insights and Forecast, 2026
- Asia Pacific Solar Street Lighting Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Solar Street Lighting Market Analysis, Insights and Forecast, 2026
- Latin America Solar Street Lighting Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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