The global Solar LED Street Lighting Market is forecasted to be worth USD 13.89 Billion by 2027, according to a new report by Emergen Research. The solar LED street lighting market is anticipated to grow significantly owing to the growing need for energy-efficient lighting systems and the rising integration of the IoT with lighting systems. The increase in energy usage globally is another factor for the substantial growth in the global solar LED street lighting market.
However, the high setup costa are likely to restraint market growth over the forecast period.
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Based on the competitive landscape, the market report analyses the key companies operating in the industry:
Su-Kam Power Systems Ltd., Sunna Design Inc., Dragon’s Breath Solar, Bridgelux, Inc., Greenshine New Energy LLC, Signify Holding B.V., Solar Lighting International Inc, Anhui Longvolt Energy Co. Ltd., BISOL Group, d.o.o., and Orion Solar among others.
The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Solar LED Street Lighting market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
Further key findings from the report suggest
- In June 2019, Signify N.V. was installed 20 Philips SunStay solar street lights in Infanta Elena Park in Seville, Spain, in one housing, these solar lights have an integrated solar panel, luminaire, charge controller, and battery. These lights are also compact and easy to assemble and require less maintenance.
- Due to certain government influence, such as feed-in tariff and net metering, the grid-connected system is anticipated to witness significant growth over the forecast timeframe.
- Due to the advantages, such as less maintenance, uniform mounting, long service life, ecofriendly, and no RF interference, the light pole segment is expected to dominate the market with a CAGR of 13.4%.
- Over the forecast timeframe, the industrial sector is anticipated to hold the largest market due to the emergence of advanced sensor-based network firms, along with a rise in on-site energy production.
- The commercial segment is expected to see significant market growth due to solar LED street lighting systems’ benefits in commercial applications, including no wire theft, easy installation and maintenance, no wire laying operation or complex power facilities needed, and cost-saving.
- During the forecast period, the Asia Pacific region is expected to hold the largest market with a CAGR of 13.7%. The increasing government initiative to use energy-efficient lighting technologies with decreased product cost and a growing number of manufacturing facilities. Market growth is anticipated to be further driven by the rise of solar projects, along with the demand for improved renewable energy systems.
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Emergen Research has segmented the global Solar LED Street Lighting Market on the basis of product, component, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Grid Connected
- Standalone
Component Outlook (Revenue, USD Billion; 2017-2027)
- Solar Cell
- Light Pole
- LED lamps
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Residential
- Industrial
- Commercial
The study segments the Solar LED Street Lighting industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2020 – 2027 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Solar LED Street Lighting market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Solar LED Street Lighting market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Solar LED Street Lighting market.
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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