Solar street lighting Market - Global Industry Analysis

Solar street lighting Market By Type (Standalone, Grid Connected), By Lighting Source (CFL, LED), By Application (Residential, Commercial, Industrial), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 06-May-2022 Category: Energy & Mining Report Format : PDF Pages: 150 Report Code: ZMR-2580 Status : Published

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Description

Industry Prospective:

The global solar street lighting market was worth around USD 5,291.5 million in 2021 and is estimated to grow to about USD 12303.5 million by 2028, with a compound annual growth rate (CAGR) of approximately 15.1 percent over the forecast period. The report analyzes the solar street lighting market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the solar street lighting market.[D1]

Solar street lighting Market: Overview

Solar street lighting is expected to see a bright demand outlook over the forecast period as demand for better and sustainable outdoor lighting increases across the world. Solar lighting works by absorbing the energy from the sun during the daytime and storing it to use in the nighttime when needed. This is a sustainable lighting option and will see an increase in popularity as the demand for electricity increases.

Increasing focus on sustainability, rising population, increasing consumption of electricity, and dimming popularity of conventional lighting are some other factors that are expected to boost the solar street lighting market potential through 2028.

High installation costs are anticipated to have a restraining effect on the global solar street lighting market growth and will slow down the industry over the forecast period.

COVID-19 Impact:

The COVID-19 pandemic led to a downfall in the adoption of solar street lighting as the world was focused on battling the pandemic and hence the solar street lighting market witnessed a slow growth trend in 2020. Lockdown restrictions across the world hampered the production of solar street lighting and also distribution which had a negative impact on the solar street lighting market.

Hampered installations under the lockdown mandates that dictated strict prohibition on outdoor activity also led to a slow down of the solar street lighting marketplace.

The negative trend of the solar street lighting market is expected to diminish as the pandemic subsides and the adoption of solar street lighting picks up across the world. Increasing focus on sustainability and rising investments from the government to adopt solar street lighting are expected to prominently govern market potential in the post-pandemic era.

Solar street lighting Market: Growth Drivers

Increasing Focus on Sustainability

The world has seen a substantial rise in focus on sustainability as the environment deteriorates and one of the major contributors to this is the energy generation sector this, in turn, has propelled the demand for renewable energy sources. The rising focus on creating more sustainable power solutions and decreasing dependency on conventional power generation is expected to majorly propel the adoption of solar street lighting over the forecast period. Increasing focus on managing the growing demand for energy will also shape the solar street lighting market growth through 2028.

Solar street lighting Market: Restraints

High Installation Costs to Hinder Solar street lighting Market Growth

Solar street lighting solutions are costly to fix and install and this factor is a major hampering factor for the global solar street lighting marketplace. Solar solutions are still relatively expensive due to the high costs of panels and the supporting structure that they require and this is what creates a major obstacle for installation. This is expected to hamper the solar street lighting market growth in low-income economies and hence slow down the global market pace through 2028.

Global Solar street lighting Market

Global Solar street lighting Market: Segmentation

The global solar street lighting market is segregated based on type, lighting source, application, and region.

By lighting source, the market is divided into CFL and LED. The LED segment is projected to have a bright outlook over the forecast period. The increasing popularity and high availability of LED lighting solutions are expected to boost the demand for this segment in the global solar street lighting market landscape. This segment will hold a major market share by the end of the forecast period.

By Application, the solar street lighting market is segmented into residential, commercial, and industrial. The industrial segment is expected to lead the solar street lighting market growth in terms of the application over the forecast period. The rising focus on sustainable energy generation and stringent mandates to incorporate renewable energy is expected to boost the adoption of solar street lighting in this application through 2028.

Report Scope:

Report Attribute	Details
Base Year	2020
Historic Years	2016 - 2020
Forecast Years	2021 - 2028
Segments Covered	By Product Type, By Application, and By End Use
Forecast Units	Value (USD Billion), and Volume (Units)
Quantitative Units	Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered	U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered	10 companies with scope for including additional 15 companies upon request
Report Coverage	Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope	Avail customized purchase options to meet your exact research needs.

Recent Developments

In January 2020 – SolarOne Solutions Inc. a leading name in lighting solutions in the United States was selected by Eagle Butte community center for the installation of SolarOne off-grid solar streetlights to achieve reduced carbon footprint.

Regional Landscape

Asia Pacific region leads the global solar street lighting market in terms of revenue and volume share and this can be attributed to rapid industrialization and urbanization in this region. Increasing focus on sustainability and rising adoption of renewable energy resources are other factors that influence the solar street lighting market potential over the forecast period. Nations of India, China, and Japan are anticipated to be the most notable markets in this region through 2028. Supportive government initiatives to boost the installation of solar street lighting solutions are also expected to have a positive impact on solar street lighting market growth in the Asia Pacific region.

The market for solar street lighting in North America is expected to see good growth owing to the rising focus on sustainability and the increasing popularity of solar lighting solutions.

Competitive Landscape

Some of the main competitors dominating the global solar street lighting market include - Philips Lighting Holding B.V., Bridgelux, Inc., Omega Solar, Dragons Breath Solar, Solektra International, SOKOYO Solar Group, Sunna Design, Solar Street Lights USA, Urja Global Ltd.

Global solar street lighting market is segmented as follows:

By Type

Standalone
Grid Connected

By Lighting Source

By Application

Residential
Commercial
Industrial

By Region

North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa

Table Of Content

Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
  - 1.3.1 Market Research Type
  - 1.3.2 Market research methodology
Chapter 2. Executive Summary
- 2.1 Global Solar street lighting Market, (2022 - 2028) (USD Million)
- 2.2 Global Solar street lighting Market : snapshot
Chapter 3. Global Solar street lighting Market - Industry Analysis
- 3.1 Solar street lighting Market: Market Dynamics
- 3.2 Market Drivers
  - 3.2.1 Increasing Focus on Sustainability
- 3.3 Market Restraints
  - 3.3.1. High Installation Costs to Hinder Solar street lighting Market Growth
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
  - 3.7.1 Market attractiveness analysis By Type
  - 3.7.2 Market attractiveness analysis By Lighting Source
  - 3.7.3 Market attractiveness analysis By Application
Chapter 4. Global Solar street lighting Market- Competitive Landscape
- 4.1 Company market share analysis
  - 4.1.1 Global Solar street lighting Market: company market share, 2021
- 4.2 Strategic development
  - 4.2.1 Acquisitions & mergers
  - 4.2.2 New Product launches
  - 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
  - 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
Chapter 5. Global Solar street lighting Market - Type Analysis
- 5.1 Global Solar street lighting Market overview: By Type
  - 5.1.1 Global Solar street lighting Market share, By Type, 2021 and 2028
- 5.2 Standalone
  - 5.2.1 Global Solar street lighting Market by Standalone, 2022 - 2028 (USD Million)
- 5.3 Standalone
  - 5.3.1 Global Solar street lighting Market by Standalone, 2022 - 2028 (USD Million)
Chapter 6. Global Solar street lighting Market - Lighting Source Analysis
- 6.1 Global Solar street lighting Market overview: By Lighting Source
  - 6.1.1 Global Solar street lighting Market share, By Lighting Source, 2021 and 2028
- 6.2 CFL
  - 6.2.1 Global Solar street lighting Market by CFL, 2022 - 2028 (USD Million)
- 6.3 LED
  - 6.3.1 Global Solar street lighting Market by LED, 2022 - 2028 (USD Million)
Chapter 7. Global Solar street lighting Market - Application Analysis
- 7.1 Global Solar street lighting Market overview: By Application
  - 7.1.1 Global Solar street lighting Market share, By Application, 2021 and 2028
- 7.2 Residential
  - 7.2.1 Global Solar street lighting Market by Residential, 2022 - 2028 (USD Million)
- 7.3 Commercial
  - 7.3.1 Global Solar street lighting Market by Commercial, 2022 - 2028 (USD Million)
- 7.4 Industrial
  - 7.4.1 Global Solar street lighting Market by Industrial, 2022 - 2028 (USD Million)
Chapter 8. Solar street lighting Market - Regional Analysis
- 8.1 Global Solar street lighting Market Regional Overview
- 8.2 Global Solar street lighting Market Share, by Region, 2021 & 2028 (USD Million)
- 8.3. North America
  - 8.3.1 North America Solar street lighting Market, 2022 - 2028 (USD Million)
    - 8.3.1.1 North America Solar street lighting Market, by Country, 2022 - 2028 (USD Million)
- 8.4 North America Solar street lighting Market, by Type, 2022 - 2028
  - 8.4.1 North America Solar street lighting Market, by Type, 2022 - 2028 (USD Million)
- 8.5 North America Solar street lighting Market, by Lighting Source, 2022 - 2028
  - 8.5.1 North America Solar street lighting Market, by Lighting Source, 2022 - 2028 (USD Million)
- 8.6 North America Solar street lighting Market, by Application, 2022 - 2028
  - 8.6.1 North America Solar street lighting Market, by Application, 2022 - 2028 (USD Million)
- 8.4. Europe
  - 8.4.2 Europe Solar street lighting Market, 2022 - 2028 (USD Million)
    - 8.4.2.1 Europe Solar street lighting Market, by Country, 2022 - 2028 (USD Million)
- 8.4 Europe Solar street lighting Market, by Type, 2022 - 2028
  - 8.4.1 Europe Solar street lighting Market, by Type, 2022 - 2028 (USD Million)
- 8.5 Europe Solar street lighting Market, by Lighting Source, 2022 - 2028
  - 8.5.1 Europe Solar street lighting Market, by Lighting Source, 2022 - 2028 (USD Million)
- 8.6 Europe Solar street lighting Market, by Application, 2022 - 2028
  - 8.6.1 Europe Solar street lighting Market, by Application, 2022 - 2028 (USD Million)
- 8.5. Asia Pacific
  - 8.5.3 Asia Pacific Solar street lighting Market, 2022 - 2028 (USD Million)
    - 8.5.3.1 Asia Pacific Solar street lighting Market, by Country, 2022 - 2028 (USD Million)
- 8.4 Asia Pacific Solar street lighting Market, by Type, 2022 - 2028
  - 8.4.1 Asia Pacific Solar street lighting Market, by Type, 2022 - 2028 (USD Million)
- 8.5 Asia Pacific Solar street lighting Market, by Lighting Source, 2022 - 2028
  - 8.5.1 Asia Pacific Solar street lighting Market, by Lighting Source, 2022 - 2028 (USD Million)
- 8.6 Asia Pacific Solar street lighting Market, by Application, 2022 - 2028
  - 8.6.1 Asia Pacific Solar street lighting Market, by Application, 2022 - 2028 (USD Million)
- 8.6. Latin America
  - 8.6.4 Latin America Solar street lighting Market, 2022 - 2028 (USD Million)
    - 8.6.4.1 Latin America Solar street lighting Market, by Country, 2022 - 2028 (USD Million)
- 8.4 Latin America Solar street lighting Market, by Type, 2022 - 2028
  - 8.4.1 Latin America Solar street lighting Market, by Type, 2022 - 2028 (USD Million)
- 8.5 Latin America Solar street lighting Market, by Lighting Source, 2022 - 2028
  - 8.5.1 Latin America Solar street lighting Market, by Lighting Source, 2022 - 2028 (USD Million)
- 8.6 Latin America Solar street lighting Market, by Application, 2022 - 2028
  - 8.6.1 Latin America Solar street lighting Market, by Application, 2022 - 2028 (USD Million)
- 8.7. The Middle-East and Africa
  - 8.7.5 The Middle-East and Africa Solar street lighting Market, 2022 - 2028 (USD Million)
    - 8.7.5.1 The Middle-East and Africa Solar street lighting Market, by Country, 2022 - 2028 (USD Million)
- 8.4 The Middle-East and Africa Solar street lighting Market, by Type, 2022 - 2028
  - 8.4.1 The Middle-East and Africa Solar street lighting Market, by Type, 2022 - 2028 (USD Million)
- 8.5 The Middle-East and Africa Solar street lighting Market, by Lighting Source, 2022 - 2028
  - 8.5.1 The Middle-East and Africa Solar street lighting Market, by Lighting Source, 2022 - 2028 (USD Million)
- 8.6 The Middle-East and Africa Solar street lighting Market, by Application, 2022 - 2028
  - 8.6.1 The Middle-East and Africa Solar street lighting Market, by Application, 2022 - 2028 (USD Million)
Chapter 9. Company Profiles
- 9.1 Philips Lighting Holding B.V.
  - 9.1.1 Overview
  - 9.1.2 Financials
  - 9.1.3 Product Portfolio
  - 9.1.4 Business Strategy
  - 9.1.5 Recent Developments
- 9.2 Bridgelux Inc.
  - 9.2.1 Overview
  - 9.2.2 Financials
  - 9.2.3 Product Portfolio
  - 9.2.4 Business Strategy
  - 9.2.5 Recent Developments
- 9.3 Omega Solar
  - 9.3.1 Overview
  - 9.3.2 Financials
  - 9.3.3 Product Portfolio
  - 9.3.4 Business Strategy
  - 9.3.5 Recent Developments
- 9.4 Dragons Breath Solar
  - 9.4.1 Overview
  - 9.4.2 Financials
  - 9.4.3 Product Portfolio
  - 9.4.4 Business Strategy
  - 9.4.5 Recent Developments
- 9.5 Solektra International
  - 9.5.1 Overview
  - 9.5.2 Financials
  - 9.5.3 Product Portfolio
  - 9.5.4 Business Strategy
  - 9.5.5 Recent Developments
- 9.6 SOKOYO Solar Group
  - 9.6.1 Overview
  - 9.6.2 Financials
  - 9.6.3 Product Portfolio
  - 9.6.4 Business Strategy
  - 9.6.5 Recent Developments
- 9.7 Sunna Design
  - 9.7.1 Overview
  - 9.7.2 Financials
  - 9.7.3 Product Portfolio
  - 9.7.4 Business Strategy
  - 9.7.5 Recent Developments
- 9.8 Solar Street Lights USA
  - 9.8.1 Overview
  - 9.8.2 Financials
  - 9.8.3 Product Portfolio
  - 9.8.4 Business Strategy
  - 9.8.5 Recent Developments
- 9.9 Urja Global Ltd.
  - 9.9.1 Overview
  - 9.9.2 Financials
  - 9.9.3 Product Portfolio
  - 9.9.4 Business Strategy
  - 9.9.5 Recent Developments

Table Of Figures

1. Market research Type
2. Market research methodology
3. Global Solar street lighting Market, 2022 - 2028 (USD Million)
4. Porter’s Five Forces Analysis
5. Global Solar street lighting Market attractiveness, By Type
6. Global Solar street lighting Market attractiveness, By Lighting Source
7. Global Solar street lighting Market attractiveness, By Application
8. Global Solar street lighting Market share by Type, 2022 and 2028 (USD Million)
9. Global Solar street lighting Market by Standalone, 2022 - 2028 (USD Million)
10. Global Solar street lighting Market by Standalone, 2022 - 2028 (USD Million)
11. Global Solar street lighting Market share by Lighting Source, 2022 and 2028 (USD Million)
12. Global Solar street lighting Market by CFL, 2022 - 2028 (USD Million)
13. Global Solar street lighting Market by LED, 2022 - 2028 (USD Million)
14. Global Solar street lighting Market share by Application, 2022 and 2028 (USD Million)
15. Global Solar street lighting Market by Residential, 2022 - 2028 (USD Million)
16. Global Solar street lighting Market by Commercial, 2022 - 2028 (USD Million)
17. Global Solar street lighting Market by Industrial, 2022 - 2028 (USD Million)
18. Global Solar street lighting Market share, by Region, 2022 and 2028
19. North America Solar street lighting Market, 2022 - 2028 (USD Million)
20. Europe Solar street lighting Market, 2022 - 2028 (USD Million)
21. Asia Pacific Solar street lighting Market, 2022 - 2028 (USD Million)
22. Latin America Solar street lighting Market, 2022 - 2028 (USD Million)
23. The Middle-East and Africa Solar street lighting Market, 2022 - 2028 (USD Million)

Table Of Tables

1. Global Solar street lighting Market: Snapshot
2. Drivers of the Solar street lighting Market: impact analysis
3. North America Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
4. North America Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
5. North America Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
6. U.S. Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
7. U.S. Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
8. U.S. Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
9. Canada Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
10. Canada Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
11. Canada Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
12. Europe Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
13. Europe Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
14. Europe Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
15. Germany Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
16. Germany Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
17. Germany Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
18. France Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
19. France Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
20. France Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
21. U.K. Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
22. U.K. Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
23. U.K. Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
24. Italy Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
25. Italy Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
26. Italy Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
27. Spain Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
28. Spain Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
29. Spain Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
30. Rest of Europe Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
31. Rest of Europe Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
32. Rest of Europe Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
33. Asia Pacific Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
34. Asia Pacific Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
35. Asia Pacific Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
36. China Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
37. China Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
38. China Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
39. Japan Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
40. Japan Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
41. Japan Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
42. India Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
43. India Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
44. India Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
45. South Korea Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
46. South Korea Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
47. South Korea Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
48. South-East Asia Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
49. South-East Asia Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
50. South-East Asia Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
51. Rest of Asia Pacific Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
52. Rest of Asia Pacific Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
53. Rest of Asia Pacific Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
54. Latin America Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
55. Latin America Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
56. Latin America Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
57. Brazil Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
58. Brazil Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
59. Brazil Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
60. Mexico Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
61. Mexico Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
62. Mexico Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
63. Rest of Latin America Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
64. Rest of Latin America Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
65. Rest of Latin America Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
66. The Middle-East and Africa Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
67. The Middle-East and Africa Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
68. The Middle-East and Africa Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
69. GCC Countries Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
70. GCC Countries Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
71. GCC Countries Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
72. South Africa Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
73. South Africa Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
74. South Africa Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)
75. Rest of Middle-East Africa Solar street lighting Market revenue, By Type, 2022 - 2028 (USD Million)
76. Rest of Middle-East Africa Solar street lighting Market revenue, By Lighting Source, 2022 - 2028 (USD Million)
77. Rest of Middle-East Africa Solar street lighting Market revenue, By Application, 2022 - 2028 (USD Million)

Methodology

Free Analysis

Lighting mechanism that excludes the regular power supply of electricity and functions completely on the solar energy is termed as solar lighting systems. The internal structure of the solar-based street lighting system comprises PV (photovoltaic) modules for battery charging, light emitting diodes (LED), compact fluorescent lamp, light source, and re-chargeable lead acid battery for storage and other electronics hardware to complete the circuit. Solar photovoltaic modules are anticipated to have 15-20 years of service life. The operation of these solar street lights can be automatic with the integration of high standard sensors, which from dusk to dawn remains in operating mode or by simply setting up and adjusting the timer. Tubular batteries which provide solar lighting systems require low maintenance which leads to a long life.

Government initiatives to utilize alternate source to power systems and reduce the depletion of fossil fuels which are used for generating electricity is likely to be the key factor responsible for the growth of the solar street lighting market. For instance, an initiative taken by the Government of India called as the Prakash Path replaced approximately 35 million street lights and 770 million incandescent bulbs with LED bulbs. In addition to this, Electric Vine Industries partnership with ENGIE in 2017, declared an investment of approximately USD 200 million for the installation of solar microgrids in Indonesia. Growing infrastructural projects leads to the rising demand for solar street lights which can be used in parking lots, pathways, and others. Moreover, increasing potential of solar technologies and increasing demand for continuous power supply will positively boost the market growth. Furthermore, technological innovations in the design of the product and declining cost of battery have positively reduced the prices of solar lightening components making them an alternative for households and municipalities. Such factors tend to positively impact the market growth.

Global Solar Street Lighting Market

Based on the lighting source, the solar street lighting market is segmented into the light emitting diode and compact fluorescent lamps. On the basis of type, the market is segmented into standalone and grid connected. Based on the application, the market is segmented into industrial, residential, and commercial.

The Asia Pacific held significant revenue share in 2017 and is anticipated to continue its regional dominance over the forecast period. The region offers great opportunities for the market players; several governments are on the run towards the target of employing green solutions and eradicating the emissions level step by step. Other regions such as the Middle East & Africa show a considerable inclination in the solar street lighting. This rise in inclination is expected to boost the overall growth of the market in this region. Moreover, North America and Europe are majorly focusing on the maximizing the utilization of solar energy which tends to positively impact the market growth in this region.

Some of the industry players operating in the solar street lighting market include Philips Lighting Holding B.V, SOKOYO Solar Group, Sol Inc., Dragons Breath Solar, Bridgelux, Omega Solar, MarSunna Design Inc., Urja Global Ltd., Solektra International, Leadsun VerySol GmbH, Solar Street Lights USA, and Yingli Solar

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FrequentlyAsked Questions

Which key factors will influence solar street lighting market growth over 2022-2028?

Increasing focus on sustainability and the rising popularity of solar lighting solutions are some major trends that guide solar street lighting market growth.

What will be the value of the solar street lighting market during 2022-2028?

According to the Market Research report, the global solar street lighting market was worth about US$ 5,291.5 million in 2021 and is predicted to grow to around US$ 12303.5 million by 2028, with a compound annual growth rate (CAGR) of around 15.1 percent.

Which region will contribute notably towards the solar street lighting market value?

The Asia Pacific region leads the global solar street lighting market in terms of revenue and volume share and this can be attributed to rapid industrialization and urbanization in this region

Which are the major players leveraging the solar street lighting market growth?

Some of the main competitors dominating the global solar street lighting market include -- Philips Lighting Holding B.V., Bridgelux, Inc., Omega Solar, Dragons Breath Solar, Solektra International, SOKOYO Solar Group, Sunna Design, Solar Street Lights USA, Urja Global Ltd.