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 : October, 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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?