Solar Street Lighting Market by Product and Geography - Forecast and Analysis 2020-2024

The solar street lighting market size has the potential to grow by USD 3.77 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (CFL and LED) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Anhui Longvolt Energy Co., Ltd., BISOL Group, d.o.o. , Bridgelux Inc., Carmanah Technologies Corp., DragonsBreathSolar Ltd., EnGoPlanet Energy Solutions Inc., Exide Industries Ltd., Havells India Ltd., Signify NV, and Urja Global Ltd.

Market Overview

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Market Competitive Analysis

The solar street lighting market is fragmented. Anhui Longvolt Energy Co., Ltd., BISOL Group, d.o.o., and Bridgelux Inc. are some of the major market participants. The market players are adopting various strategies to compete against each other and earn margins. The government and private sectors are collaborating to install solar street lights to achieve a clean energy source. Although the increase in adoption of energy-efficient lighting technologies will offer immense growth opportunities, the intermittent solar power generation will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this solar street lighting market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this solar street lighting market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Anhui Longvolt Energy Co., Ltd.
• BISOL Group, d.o.o. 
• Bridgelux Inc.
• Carmanah Technologies Corp.
• DragonsBreathSolar Ltd.
• EnGoPlanet Energy Solutions Inc.
• Exide Industries Ltd.
• Havells India Ltd.
• Signify NV
• Urja Global Ltd.

Solar Street Lighting Market: Segmentation by Geography

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APAC was the largest solar street lighting market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Initiatives undertaken by the governments to reduce GHG and improve the societal conditions will significantly drive solar street lighting market growth in this region over the forecast period.

49% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for solar street lighting in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Solar Street Lighting Market: Segmentation by Product

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In 2019, traditional technologies such as compact fluorescent lighting CFL dominated the global solar street lighting market. These technologies are also used for professional lighting solutions, especially in developing countries. CFLs are the most commonly used fluorescent light sources. A CFL light is made of a glass tube with a coating of phosphorous and it contains mercury and an inert gas such as argon. Also, a CFL is more efficient than an incandescent bulb owing to product characteristics such as luminescence. This report provides an accurate prediction of the contribution of all the segments to the growth of the solar street lighting market size.

Solar Street Lighting Market: Key Drivers and Trends

The availability of renewable energy sources will play a pivot role in moving toward a sustainable and less- carbon-intensive world. The comparative pricing of electricity generation and low greenhouse gas (GHG) emission from renewable energy sources have been attracting investments in the renewable energy sector globally. Countries such as India and China have been heavily investing in the development of renewable power projects, which have boosted the market growth. The European market is also focusing on decarbonization. Such initiatives and development have subsequently contributed to the solar street lighting market share. The solar street lighting market is expected to grow at a CAGR of almost 11% during the forecast period.

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Solar Street Lighting Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive solar street lighting market growth during the next five years
• Precise estimation of the solar street lighting market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the solar street lighting industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of solar street lighting market vendors

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