Solar Street Lighting Market

Posted by jayashree on September 20th, 2019

Solar Street Lighting Market was valued US$ 3.78 Bn and is estimated to reach US$ 16.2 Bn by 2026 at a CAGR of 19.95 % during the forecast.

Global Solar Street Lighting Market is segmented by product, by lighting source, by application and by region. Based on type, solar street lighting market is segmented into light emitting diode (LED) and compact fluorescent lamps (CFL). In terms of sources, solar street lighting market is bifurcated into standalone and grid connected. Commercial, residential and industrial are end user segment of solar street lighting market. Geographically, solar street lighting market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Reduction in LED prices, various initiatives and projects by government to make city smarter and reducing carbon emissions drives the solar street lighting market. Solar light is an environment friendly, clean energy and hence there is no pollution and more energy saving. No wires associated with the solar street lights and so there is less risk of accidents proves the flexibility.

Global Solar Street Lighting Market

Standalone solar street lighting segment will witness a strong growth on account of growing product adoption across off grid or remote areas. High costs associated with street light infrastructure across remote areas makes best choice as an attractive alternative. Introduction of government programs including feed in tariff (FIT) and net metering will further boost the product penetration. Expansion of micro-grid networks for large-scale renewable integration positively impact the business growth positively impacts grid connected segment.

CFL segment dominated in 2017, grabbing 60% of the market share. However LED segment is expected to surpass the CFL segment to become the leading segment by 2026.

Commercial segment is estimated to lead the global market due to rising initiatives by governments and civic authorities to use solar lighting. Currently, solar street lighting solutions are being used on streets, roadways, and various other commercial establishments. Solar lighting in areas such as parking lots, pathways, subways, perimeter security lighting, and public area lighting have also augmented the growth of this segment.

Asia Pacific leaded the market in 2017. Asia Pacific was the largest market for solar street lighting globally, accounting for approximately 46 %. Europe was the third-largest market for solar street lighting, in terms of market share in 2017. Germany and U.K were the leading countries with highest revenue realization from solar street lighting in 2015. This growth is as a result of numerous initiatives such as subsidies, campaigns, and different programs introduced by the World Bank and International Finance Corporation to promote solar street lighting products.

Key players included in solar street lighting market Bridgelux, Cree, GE Lighting, Acuity Brands, Inc., Digital Lumens, Inc., Encelium Technologies, Inc., Honeywell International, Legrand S.A., Lutron Elecronics, Co., Osram Licht AG, Royal Philips Electronics N.V., Streetlight.Vision, Cooper Lighting division, Siemens, Matsushita Electric Industrial Co., Bajaj Electricals and Zumtobel AG., Philips Lighting holding B.V, Omega Solar, Bridgelux, inc., Dragons Breath Solar, SOKOYO Solar Group, Solektra International, Sunna Design, Urja Global Ltd, Very Sol Gmbh

For more information visit:

https://www.maximizemarketresearch.com/market-report/solar-street-lighting-market/11744/

Scope of the Global Solar Street Lighting Market

Global Solar Street Lighting Market by Lighting Source

• Light Emitting Diode (LED)

• Compact Fluorescent Lamps (CFL)

Global Solar Street Lighting Market by Product Type:

• Standalone

• Grid Connected

Global Solar Street Lighting Market by Application:

• Industrial

• Residential

• Commercial

Key Player analysed in Global Solar Street Lighting Market:

• Bridgelux

• Cree

• GE Lighting

• Acuity Brands, Inc.

• Digital Lumens, Inc.

• Encelium Technologies, Inc.

• Honeywell International

• Legrand S.A.

• Lutron Elecronics, Co.

• Osram Licht AG

• Royal Philips Electronics N.V.

• Streetlight.Vision

• Cooper Lighting division

• Siemens

• Matsushita Electric Industrial Co.

• Bajaj Electricals

• Zumtobel AG.

• Philips Lighting holding B.V

• Omega Solar

• Bridgelux, inc.

• Dragons Breath Solar

• SOKOYO Solar Group

• Solektra International

• Sunna Design

• Urja Global Ltd

• Very Sol Gmbh

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