404
Solar Street Lighting Market Trend & Forecast | 2022-28
Solar Street Lighting Market Size, Share, Trend, Forecast, & Industry Analysis – 2022-2028
The market is Segmented by Product Type (Standalone, Grid-connected), by Luminaries Type (LED, CFL), by Application Type (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia-Pacif...
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.