The Global Solar Street Lighting Market to grow from USD 5.17 billion in 2022 to USD 11.44 billion by 2030, at a CAGR of 10.43%.

PUNE, MAHARASHTRA, INDIA , November 17, 2023 /EINPresswire.com/ -- The "Solar Street Lighting Market by Lighting Source (Compact Fluorescent Lamps, Light Emitting Diode), Type (Grid Connected, Standalone), Deployment, Application - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Solar Street Lighting Market to grow from USD 5.17 billion in 2022 to USD 11.44 billion by 2030, at a CAGR of 10.43%.

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Solar street lighting includes autonomous, energy-efficient lighting solutions that harness solar energy for illumination in public and private outdoor spaces. These systems consist of photovoltaic (PV) panels, batteries for energy storage, light-emitting diode (LED) lamps, and control units that manage power consumption. Applications for solar streetlights include urban roads, highways, parks, alleyways, residential areas, parking lots, commercial zones, industrial parks, and remote rural regions where grid connectivity is limited. The increasing demand for clean energy is due to rising environmental concerns with growing government investments in sustainable infrastructure projects involving renewable energy sources such as solar power. Additionally, governmental initiatives promoting the use of renewable energy technologies, such as LED-based solar streetlights, have led to increased adoption rates among municipalities and private sectors. High initial costs of installation for solar street lighting are expected to hamper market growth. Furthermore, technological advancements in PV cells to increase efficiency levels at reduced costs, which could result in higher adoption rates across various sectors, are expected to create opportunities for the market.

Deployment: Significant popularity of off-grid solar street lights for ease of installation, and enhanced security
Off-grid solar street lights function independently from the power grid, making them suitable for remote areas with limited or no access to grid electricity. These systems offer easy installation, low maintenance costs, and increased security. Standalone and centralized systems are subcategories within off-grid solutions. On-grid solar street lights connect to the main power grid and utilize both solar energy and grid electricity, making them ideal for urban areas with reliable infrastructure. Subcategories include net-metering and feed-in tariff systems that allow users to receive credits or sell excess generated solar power back to the utility company. Need-based preferences play a significant role in deciding between off-grid and on-grid solar street lighting solutions. The choice depends on location, infrastructure availability, cost considerations, and sustainability objectives.

Application: Growing usage of solar street lightings in the commercial sector to growing infrastructural development activities
The commercial sector is an essential driver for the growth of solar street lighting demand due to increasing urbanization and infrastructural development activities. Solar-powered lights are being widely used in parking lots, parks, pathways, and other public spaces due to their low maintenance requirements and energy efficiency features. Industrial applications for solar street lighting have also witnessed significant growth due to stringent government regulations aimed at reducing carbon footprints and promoting renewable energy sources. Industries such as manufacturing units, warehouses, distribution centers, and mining sites are turning towards solar-powered solutions for outdoor lighting requirements. The residential segment is another area where solar street lighting has gained prominence due to increasing consumer awareness of energy conservation and environmental sustainability. Solar streetlights are popular among homeowners for illuminating driveways, gardens, walkways, and other outdoor areas around their properties.

Lighting Source: Increasing preference for LED higher energy efficiency, longer life span
Compact fluorescent lamps are energy-saving light bulbs that were once popular for their efficiency and long lifespan compared to traditional incandescent bulbs. CFLs contain a small amount of mercury, which enables them to produce ultraviolet light that is converted into visible light through a phosphor coating on the inside of the bulb. CFLs are preferred in situations where low initial costs are prioritized over long-term efficiency. They also work well in places with lower average temperatures as they function better in cold environments than LEDs. Light-emitting diodes are semiconductor devices that emit light when an electrical current passes through them. LEDs offer several advantages over CFLs, including higher energy efficiency, longer lifespan, and better color rendering. LED solar streetlights have become the preferred choice for various applications due to their numerous benefits. LEDs are ideal for applications where high energy efficiency and low maintenance costs are prioritized.

Type: Expansion of standalone solar street lighting systems due to lower initial costs and simpler installation process
Grid connected solar street lighting systems are linked to the main electrical grid, which allows for a constant power source and backup during periods of low sunlight and nighttime hours. This type of system can be cost-effective in areas with existing electrical infrastructure and reliable power supply. The need-based preference for grid connected solar street lights can include urban settings, commercial zones, and residential neighborhoods where uninterrupted lighting is crucial for security and safety. Standalone solar street lighting systems are independent of the main electrical grid and rely solely on self-generated power from photovoltaic panels. These off-grid systems are ideal for remote locations lacking access to a stable power supply, or areas where installing new grid infrastructure is not feasible. Need-based preferences for standalone solar street lights often include rural communities, parks, parking lots, and disaster-prone regions where resiliency during emergencies is essential.

Regional Insights:
The Americas have witnessed a substantial increase in the demand for solar street lighting solutions driven by strong government initiatives favoring renewable energy adoption. North America, primarily the United States and Canada, has been at the forefront of implementing solar-powered public lighting systems. In Europe, countries such as Germany, France, Italy, and Spain are among the key players with substantial investments in sustainable infrastructure development projects that include solar-powered streetlight installations. Middle Eastern countries such as UAE and Saudi Arabia, which boast high levels of sunlight exposure throughout the year, offer immense potential for growth in this sector despite currently holding a smaller market share than Europe or America. African countries, including Nigeria and South Africa, have begun adopting renewable energy initiatives due to growing population density in urban areas coupled with increasing electricity demands, which have posed challenges for their existing grid infrastructures. The Asia-Pacific region is experiencing the highest growth rate in the solar street lighting market due to rapid urbanization, increasing focus on energy efficiency, and supportive government policies. China has adopted various measures to promote renewable energy sources, including aggressive solar installation targets.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Solar Street Lighting Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Solar Street Lighting Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Solar Street Lighting Market, highlighting leading vendors and their innovative profiles. These include Anhui Longvolt Energy Co. Ltd., BISOL Group d.o.o., BM Sunpower Technologies, Bridgelux Inc., Covimed Solar Group, Dragons Breath Solar, Fevino Industries, G Solar, Hi-Power Electronics, Ignite Electronics, Jai Sunlight Systems, Jiangsu Sokoyo Solar Lighting Co. Ltd., Koninklijke Philips N.V., Nessa.in, Omega Solar, Orion Energy Systems Inc., SOKOYO Solar Group, Solar Lighting International Inc., Solar Street Lights USA, Solektra, Solmitra Power & Steel Pvt Ltd, Sunna Design SA, Tata Power Solar Systems Limited, Urja Global Ltd, and Zhuhai Bomin Solar Technology Co. Ltd..

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Market Segmentation & Coverage:

This research report categorizes the Solar Street Lighting Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Lighting Source, market is studied across Compact Fluorescent Lamps and Light Emitting Diode. The Compact Fluorescent Lamps is projected to witness significant market share during forecast period.

Based on Type, market is studied across Grid Connected and Standalone. The Grid Connected is projected to witness significant market share during forecast period.

Based on Deployment, market is studied across Off-gird and On-grid. The Off-gird is projected to witness significant market share during forecast period.

Based on Application, market is studied across Commercial, Industrial, and Residential. The Residential is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.56% in 2022, followed by Asia-Pacific.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Solar Street Lighting Market, by Lighting Source
7. Solar Street Lighting Market, by Type
8. Solar Street Lighting Market, by Deployment
9. Solar Street Lighting Market, by Application
10. Americas Solar Street Lighting Market
11. Asia-Pacific Solar Street Lighting Market
12. Europe, Middle East & Africa Solar Street Lighting Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Solar Street Lighting Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Solar Street Lighting Market?
3. What is the competitive strategic window for opportunities in the Solar Street Lighting Market?
4. What are the technology trends and regulatory frameworks in the Solar Street Lighting Market?
5. What is the market share of the leading vendors in the Solar Street Lighting Market?
6. What modes and strategic moves are considered suitable for entering the Solar Street Lighting Market?

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Mr. Ketan Rohom
360iResearch
+ 1 530-264-8485
ketan@360iresearch.com

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