MRFR analysts predict that the global solar street lighting market will grow steadily during the forecast period and post a CAGR of around 21.02% by 2023.
The primary driver of the global solar street lighting market is the rising assertion of the adverse effects of the traditional forms of energy attained from the conventional fuel types and degrading levels of fossil fuels in natural reservoirs across the globe. As a result of this, governments across the world are supporting and promoting the development and use of electricity through sustainable sources of energy. In areas where grid electricity cannot be provided, off-grid energy has played significant role, thus pushing solar street lighting market towards growth.
Leading players in the global Solar Street Lighting Market are focusing on expanding their production units across several regions over the coming years to gain a competitive edge over other players. As many developed economies have already witnessed a significant deployment of solar lighting and reached a notable place in the global market, emerging economies such as Asia Pacific is expected to present lucrative growth opportunities to manufacturers with the demand for solar street lighting gaining momentum.
Top Key Players:-
We recognize the key players in the global solar street lighting market are VerySol Inc. (U.S.), Solar Street Lights USA (U.S.), Dragons Breath Solar (U.K.), Urja Global Ltd. (India), Solektra International LLC (U.S.), Bridgelux Inc. (U.S.), SOKOYO Solar Group (China), Sunna Design (France), Sol Inc.(U.S.), Philips Lighting Holding B.V.( the Netherlands), and Omega Solar (India).
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Industry/ Innovation/ Related News:
11 April 2017: Solar Street Lighting, A UK clean tech developer has launched a £3.5bn funding scheme to help local authorities and businesses install street lighting powered entirely by renewable energy.
Major Points From TOC:-
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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Market Research Future Analysis:
Market Research Future analysis shows that the global market of solar street lightings market is estimated to grow at CAGR of 21.02 % by the end of the forecast period. These are outdoor raised light sources that are powered by the photovoltaic or PV panels. By raised, it means that the solar panels are either mounted on the lighting structure or they are connected using a pole. These PV panels are equipped with a rechargeable battery, which enables them to provide power for the duration of the entire night to the fluorescent or LED lamp. Also, in the majority of instances, these solar street lights have solar panels, which can sense outdoor light, automatically, through an external light source. With the energy production and storage capacities, even in the absence of sunlight these can produce light, successively, during nights for a minimum of 2-3 days.
Urban street lights are densely-clustered, making it cost-effective to upgrade lighting with LED and connectivity. However, rural areas have a much lower density of street lighting, which can be more expensive to replace and maintain.