Solar Street Lighting Market - Global Industry Analysis, Market size, Share, Growth, Trends and Forecast 2017 - 2025

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Solar Street Lighting Market - Global Industry Analysis, Market size, Share, Growth, Trends and Forecast 2017 - 2025

Status : August, 2020 | Energy & Mining | PPT format

Report Digest


Global Solar Street Lighting Market: Snapshot

The global solar street lighting market is gaining remarkably from the overwhelming support of various governments across the world, trying hard to conserve energy and reduce carbon footprints. The continual rise in the energy cost and the augmenting demand for electricity, worldwide, has prompted a number of governments to involve with international as well as regional non-governmental organizations (NGOs) for launching several programs and schemes, such as subsidies for the deploying solar lighting systems, in a bid to curb the shrinking of non-renewable energy resources. Vendors are encouraged to provide efficient solar lighting solutions, especially in emerging economies, such as India, where the government has recently launched an initiative to replace 35 mn streetlights and nearly 800 mn incandescent bulbs with energy-efficient LED bulbs.

Although solar lighting is being easily accepted across the world, developing economies in Asia and Africa will enjoy the main benefits of this technology. The governments in these nations are focusing primarily on the development of infrastructure, which has made providing centralized grid electricity financially challenging for them as it requires high capital, extensive workforce, and time to develop an entire transmission and distribution infrastructure. This, as a result, has compelled these countries to prefer solar lighting. The continual deployment of solar streetlights in these countries is likely to propel the overall solar street lighting market in the near future.

Global Solar Street Lighting Market: Overview

The primary energy source of outdoor street lighting units is solar power and a lot of them are made to operate in a standalone mode, therefore making them independent of the general power grid. However, their dependency on sunlight requires the lighting units to be installed in a location that can receive ample sunlight at key parts of the day. The solar PV street lighting system comprises a rechargeable lead acid battery, PV modules for charging the battery, a compact fluorescent lamp (CFL) as a light source, an electronics system for the operation of the lamp, and a discharging mount and mechanical hardware for fixing the system. Common SPV modules are expected to have a service life of 15 to 20 years.

Global Solar Street Lighting Market: Top Trends

One of the key drivers augmenting the global solar street lighting market is the high priority that many nations are giving to looking for alternatives that are efficient and provide off-grid power solutions. This gives way to certain drivers that boost the solar street lighting market. A crucial foundation that the global solar street lighting market is currently based on is the fact that they provide a feasible solution to conventional street lighting across a wide array of terrains, provided there is sufficient sunlight, and irrespective of grid connectivity. Solar street lightings can also reduce the overall energy load on a grid, consequently saving money over energy consumption. Solar street lights also come with the advantage of bearing low or even negligible maintenance costs, low wiring efforts and no transformer costs for off-grid lights.

However, the global solar street lighting market still facing the problem of trying to promote a new technology in a market filled with strong conventional rivals. Customers and company stakeholders are still treading with caution owing to a low level of awareness regarding the overall benefits of supporting a relatively costlier technology. Additionally, regionally speaking, solar street lightings cannot be implemented in all locations due to the varied quantity of sunlight that each region receives, even without taking into consideration unpredictable weather conditions.

Global Solar Street Lighting Market: Core Segmentations

The global solar street lighting market can be segmented on the basis of the types of lighting technology, their applications, and the type of lighting based on the location of the PV panels. The two key applications in the global solar street lighting market are solar traffic lights and county level street lights. Under common types of lighting offered by the global solar street lighting market include compact fluorescent lamps (CFLs) and light emitting diodes (LEDs).

Depending on the magnitude and duration of lighting required, photovoltaic panels can either be situated as individual units directly on the lighting panels, or in a centrally located cluster, if the area of operation is large.

Global Solar Street Lighting Market: Regional Markup

Based on region, the global solar street lighting market can be segmented into North America, Europe, Asia Pacific, Latin America, and The Middle East and Africa. The implementation of SSL systems can be found in Asia Pacific, specifically in China and India. Asia Pacific takes up a massive chunk of the demand volume in the global solar street lighting market currently, and is likely to continue doing so over the coming years. Meanwhile, North America and Europe are expected to continue being primary markets for solar street lighting owing to a higher rate of acceptance, a growing need to conserve power, and holding the headquarters of some of the leading players in the market.

Global Solar Street Lighting Market: Key Companies Mentioned in the Report

A few of the leaders of the global solar street lighting market so far, have included Solar Street Lights USA, OkSolar.com, Solar Lighting International Inc., Solar Electric Power Co., and Silicon Solar.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.