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    Solar Street Lighting Market Trend & Forecast | 2022-28

    Solar Street Lighting Market Trend & Forecast | 2022-28
    Report code - SRCG200 Delivery - 2 Weeks
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    Solar Street Lighting Market Size, Share, Trend, Forecast, & Industry Analysis – See more...

    Market Insights

    The solar street lighting market is likely to grow from USD 3.36 billion in 2021 to reach USD 6.99 billion by 2028 at a healthy CAGR of 10.75 % during the forecast period.

    To get more information about this report,

    What is solar street lighting?

    Street lighting is an inevitable part of urban and rural infrastructure. Lighting creates a safe environment for both pedestrians and drivers. There has been a massive shift towards LED lighting on the streets across the globe, as it uses less energy and is more reliable than traditional sodium lamps. Being a renewable resource, solar power is increasingly being used for street lighting around the world.

    Solar Street Lighting Market Report Overview

    Market Size in 2028

    USD 6.99 billion

    Market Size in 2021

    USD 3.36 billion

    Market Growth (2022-2028)

    CAGR of 10.75 %

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

     

    Drivers

    The various factors contributing to the demand are:

    • Increasing demand for clean energy
    • Increasing off-grid electricity demand, and stringent regulations towards sustainable infrastructure development.
    • Urbanization is expanding quickly, and the need for sustainable infrastructure is growing.

    To know more about the market trends,

    Key Players

    Some of the major manufacturers are-

    • Anhui Longvolt Energy Co., Ltd
    • BISOL Group
    • COVIMED SOLAR
    • Greenshine New Energy
    • Jinhua SunMaster Solar Lighting Co., Ltd
    • LEADSUN
    • Orion Solar Projects Private Limited
    • Shenzhen Spark Optoelectronics S&T Co., Ltd
    • Solar Electric Power Company (SEPCO)
    • Solar Lighting International, Inc.

    Segment Analysis

    By Product Type

    The market is segmented as standalone and grid connected. The standalone segment is expected to grow at a higher CAGR of 11.8% during the forecast period, driven by the rapid expansion of sustainable electric networks, the high cost of conventional streetlight infrastructure across off-grid areas, and the increasing deployment of pico-solar systems.  

    By Application Type

    The market is segmented as residential, commercial, and industrial. The industrial segment is likely to be the major application type during the forecast period. The on-site generation of electricity and the increasing focus on sustainable manufacturing are likely to contribute to the demand for the industrial segment.

    By Region  

    Asia-Pacific is estimated to be the fastest-growing region for the market during the forecast period, driven by government initiatives for the adoption of energy-efficient lighting systems, expansion of manufacturing facilities, and decreasing product cost. 

    To know which region offers the best growth opportunities,

    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. 

    The market is segmented into the following categories. 

    By Product Type:

    • Standalone 
    • Grid Connected 

    By Luminaries Type:

    • LED 
    • CFL 

    By Application Type:

    • Residential 
    • Commercial 
    • Industrial 

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Research Methodology

    • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
    • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
    • We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Solar Street Lighting Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Street lighting is an inevitable part of urban and rural infrastructure. Lighting creates a safe environment for both pedestrians and drivers. There has been a massive shift towards LED lighting on the streets across the globe, as it uses less energy and is more reliable than traditional sodium lamps. Being a renewable resource, solar power is increasingly being used for street lighting around the world.

    Anhui Longvolt Energy Co., Ltd, BISOL Group, COVIMED SOLAR, Greenshine New Energy, Jinhua SunMaster Solar Lighting Co., Ltd, LEADSUN, Orion Solar Projects Private Limited, Shenzhen Spark Optoelectronics S&T Co., Ltd, Solar Electric Power Company (SEPCO), and Solar Lighting International, Inc. are among the key players in the market.

    Asia-Pacific is expected to be the fastest-growing region in the market during the next five years.

    Increasing demand for clean energy Increasing off-grid electricity demand, and stringent regulations towards sustainable infrastructure development. Urbanization is expanding quickly, and the need for sustainable infrastructure is growing.

    The standalone segment is expected to grow at a higher CAGR in the market in the coming years.

    The solar street lighting market is likely to grow from USD 3.36 billion in 2021 to reach USD 6.99 billion by 2028 .

    The solar street lighting market is likely to grow at a healthy CAGR of 10.75 % during the forecast period.

    The study period of this market report is 2016-28.