Overview and Scope
Solar street lighting is illuminating streets with photovoltaic panels generally mounted on the lighting structure or integrated with the pole itself, where photovoltaic panels charge rechargeable batteries to power fluorescent or LED lamp during the night.
Sizing and Forecast
The solar street lighting market size has grown rapidly in recent years. It will grow from $8.93 billion in 2023 to $10.55 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to advocacy and community engagement, government initiatives and policies, environment and sustainability awareness, rural electrification initiatives, urban development and infrastructure projects..
The solar street lighting market size is expected to see rapid growth in the next few years. It will grow to $19.97 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to market expansion in developing regions, rising energy costs and demand, environmental awareness and sustainability goals, government support and policies.. Major trends in the forecast period include hybrid solar lighting systems, artificial intelligence (ai) and energy optimization, community-centric lighting solutions, enhanced durability and weather resistance, modular and scalable designs..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/solar-street-lighting-global-market-report
Segmentation & Regional Insights
The solar street lighting market covered in this report is segmented –
1) By Type: Portable, Standalone, Centralized
2) By Component Type: Controller, Lamp, Solar Panel, Sensors, Battery, Other Components
3) By Luminaries: Light Emitting Diode, Compact Fluorescent Lamps
4) By Application: Parking Lot, Highway And Roadway, Airport Runway, Manufacturing Site
Asia-Pacific was the largest region in the solar street lighting market in 2023. The regions covered in the solar street lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample_request?id=9148&type=smp
Major Driver Impacting Market Growth
The increasing demand for clean energy is expected to propel the growth of the solar street lighting market going forward. Clean energy is energy produced by production processes that do not emit any pollutants, particularly greenhouse gases such as CO2 that contribute to global warming to improve environmental protection. Clean energy such as solar energy is commonly used as renewable energy in public lighting, where, solar street light contains photovoltaic solar panels integrated into their design, which effectively capture sunlight throughout the day and store the energy in a battery system. This ‘ battery discharges its energy to the light source at night. For instance, in December 2021, according to the report published by International Energy Agency (IEA), a France-based autonomous intergovernmental organization for energy, world renewable electricity capacity is anticipated to increase by more than 60% in 2026 with over 4 800 GW. Additionally, the world’s electricity capacity is expected to come from renewable sources virtually exclusively—solar PV will provide more than half due to a rise in favorable government policies and more ambitious clean energy goals. Therefore, the increasing demand for clean energy is driving the growth of the solar street lighting market.
Key Industry Players
Major companies operating in the solar street lighting market report are Acuity Brands Inc., Bajaj Electricals Limited, Bridgelux Inc., Cooper Lighting LLC, Dragons Breath Solar, Jiangsu Sokoyo Solar Lighting Co. Ltd., Signify Holding B.V., Solektra Solar Energy, Sunna Design SA, Urja Global Ltd., Omega Solar LLC, VerySol GmbH, Solar Street Lights, Yingli Solar Holding Co. Ltd., Greenshine New Energy Co. Ltd., ABB Limited, Nomo Group CO. Ltd., Su-Kam Power Systems Ltd., GE Lighting, Digital Lumens Incorporated, Honeywell International Inc., Legrand Group, Lutron Electronics Company Inc., Osram Licht AG, Zumtobel Group AG, Anhui Longvolt Energy Co. Ltd., BISOL Group, Covimed Solar, Jinhua SunMaster Solar Lighting Co. Ltd., Shenzhen Spark Co. Ltd. .
The solar street lighting market report table of contents includes:
1. Executive Summary
2. Solar Street Lighting Market Characteristics
3. Solar Street Lighting Market Trends And Strategies
4. Solar Street Lighting Market – Macro Economic Scenario
5. Global Solar Street Lighting Market Size and Growth
.
.
.
31. Global Solar Street Lighting Market Competitive Benchmarking
32. Global Solar Street Lighting Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Solar Street Lighting Market
34. Solar Street Lighting Market Future Outlook and Potential Analysis
35. Appendix
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
