Solar Street Lighting Market Promising Growth Opportunities and Forecast Upto 2030
Solar
Street Lighting Market Overview
Solar
Street Lighting Market share is expected to be worth over USD 3972 Million,
registering a CAGR of 14.12% by 2030.
Solar street lights (SSL) are widely
utilized for outdoor street lighting since they use solar power as their major
source of energy. These lighting systems worked independently of traditional
energy sources, negating the need for a general grid to supply any power
requirements.
The development of smart cities, rising
interest in solar energy and other green and clean energy programs, and growing
backing from both government and non-government organizations all point to
significant growth in the market for solar street lighting.
FAQ’s:
- What is
“Solar Street Lighting” Market?
- Who are the
Top Market manufacturers?
- Which are
the most Business Regions across the globe?
- How big is
the “Solar Street Lighting” Market in upcoming Years?
- What are the
Latest developments/industry updates in the “Solar Street Lighting”
Market?
The COVID-19 pandemic has brought the
world to a standstill and disrupted international trade. Over the past two decades,
solar energy has grown significantly. The outbreak, however, seriously hampered
this progress. Governments are addressing these issues and deciding how quickly
solar energy will be deployed in the future. The solar industry as a whole is
concerned about how the pandemic's effects and uncertainties would affect it.
Key Players
The main
players in the global solar street lighting market are VerySol Inc. (U.S.),
Urja Global Ltd. (India), Solar Street Lights USA (U.S.), Dragons Breath Solar
(U.K.), Solektra International LLC (U.S.), Sol Inc.(U.S.), Bridgelux Inc. (U.S.),
Sunna Design (France), SOKOYO Solar Group (China), Philips Lighting Holding
B.V.( the Netherlands), and Omega Solar (India).
Market
Segment
● By Type
The market is divided into two categories
based on the type: standalone and grid. Due to the rapid growth of sustainable
electric networks, the expensive cost of conventional streetlight
infrastructure in off-grid locations, and the expanding use of pico-solar
systems, the standalone category is predicted to develop at a higher CAGR
throughout the projected period.
● By Product Type
Based on product type, the solar panel
category led the market for solar street lighting in 2019. The largest market
share is expected during the forecast period. This can be because solar panels,
which make up the majority of a solar lighting system and are the most costly
relative to other components, are the most vital and bring in the most money.
● By Application
The solar street lighting market is
divided into three categories based on the kind of application: institutional,
commercial, and residential. During the forecast period, the industrial sector
is projected to be the dominant application type. The production of electricity
on-site and the growing emphasis on environmentally friendly manufacturing are
projected to boost demand for the industrial sector.
Regional
Analysis
Due to the increasing strategic advances
by the market players, the Asia-Pacific region is predicted to have the highest
market share with a growth rate of more than 18%.
The European region is expected to expand
steadily due to growing awareness of alternate solar energy-producing methods.
Additionally, it is anticipated that the North American region will expand
significantly as well. By 2030, 45 million units of solar street lighting are
anticipated to be sold in the Middle East and Africa.
Read More @
https://www.marketresearchfuture.com/reports/solar-street-lighting-market-5350
Industry
News
The Eagle Butte community center has chosen
SolarOne Solutions Inc. to install 80 off-grid solar lamps starting in January
2020. SolarOne's off-grid solar streetlights have zero carbon emissions because
they only use solar power.
In the Infanta Elena Park in Seville,
Spain, Signify N.V. erected 20 Philips SunStay solar street lights in June
2019. These solar lights have a charge controller, battery, luminaire, and
solar panel all combined into one housing. Additionally, these lights need less
maintenance, are portable, and are simple to install.
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