The Solar Street Lighting Global Market Report 2023, provides comprehensive information on the solar street lighting market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global solar street lighting market size is expected to grow from $7.58 billion in 2022 to $8.95 billion in 2023 at a compound annual growth rate (CAGR) of 18.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global solar street lighting market size is expected to reach $16.74 billion in 2027 at a CAGR of 16.9%.
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Product innovations are a key trend gaining popularity in the solar street lighting markets. Major companies operating in the solar street lighting market are introducing innovative products to sustain their position in the market. For instance, in November 2021, Servotech Power Systems, an India-based company operating in green energy, introduced a 2in1 solar street light to deliver high-quality illumination for outdoor spaces. There are two product variations in this series and it is an integrated and dual-purpose solar street light that provides over 105lm/W of light output, a lifespan of over 50000 hours, and an IP 66 grade to ensure protection even in the most extreme outdoor conditions. The solar PV modules used in these lamps are composed of highly efficient polycrystalline that has been utilized and tested for longer endurance and can endure highly corrosive atmospheres and significant wind loads, increasing charging efficiency by about 25%. Streets and roads, highways, compounds, parks, boundary walls, car parking lots, military and civilian security installations, airports, etc. can all benefit from the use of these solar street lights.
The solar street lighting market 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 2022.
The table of contents in TBRC’s solar street lighting market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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