The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Solar LED Street Lighting Market. The rising demand for the Solar LED Street Lighting Market is expected to drive the demand for Solar LED Street Lighting Market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global Solar LED Street Lighting Market is forecasted to be worth USD 13.89 Billion by 2027, according to a new report by Emergen Research. The solar LED street lighting market is anticipated to grow significantly owing to the growing need for energy-efficient lighting systems and the rising integration of the IoT with lighting systems. The increase in energy usage globally is another factor for the substantial growth in the global solar LED street lighting market. However, the high setup costa are likely to restraint market growth over the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Solar LED Street Lighting market. Also, to arrive at an accurate and unbiased market forecast, data collected from secondary research sources have been analysed and validated through primaries.
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The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.
Key participants include Su-Kam Power Systems Ltd., Sunna Design Inc., Dragon's Breath Solar, Bridgelux, Inc., Greenshine New Energy LLC, Signify Holding B.V., Solar Lighting International Inc, Anhui Longvolt Energy Co. Ltd., BISOL Group, d.o.o., and Orion Solar among others.
Highlights from the Report
- In June 2019, Signify N.V. was installed 20 Philips SunStay solar street lights in Infanta Elena Park in Seville, Spain, in one housing, these solar lights have an integrated solar panel, luminaire, charge controller, and battery. These lights are also compact and easy to assemble and require less maintenance.
- Over the forecast timeframe, the industrial sector is anticipated to hold the largest market due to the emergence of advanced sensor-based network firms, along with a rise in on-site energy production.
- The commercial segment is expected to see significant market growth due to solar LED street lighting systems' benefits in commercial applications, including no wire theft, easy installation and maintenance, no wire laying operation or complex power facilities needed, and cost-saving.
- During the forecast period, the Asia Pacific region is expected to hold the largest market with a CAGR of 13.7%. The increasing government initiative to use energy-efficient lighting technologies with decreased product cost and a growing number of manufacturing facilities. Market growth is anticipated to be further driven by the rise of solar projects, along with the demand for improved renewable energy systems.
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The report studies the historical data of the Solar LED Street Lighting Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented the global Solar LED Street Lighting Market on the basis of product, component, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Grid Connected
- Standalone
Component Outlook (Revenue, USD Billion; 2017-2027)
- Solar Cell
- Light Pole
- LED lamps
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Residential
- Industrial
- Commercial
Geographical Segmentation:
The latest research report entails an in-depth analysis of the current growth opportunities for various regions of Solar LED Street Lighting, gauging their revenue share over the forecast timeline. Furthermore, the report analyses the year-on-year growth rate of these regions over the forecast duration. The leading market regions profiled in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruption, and inducing financial instability.
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Key Points of Solar LED Street Lighting Market:
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Complete data about the key manufacturers and vendors in the Solar LED Street Lighting market
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
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