Solar Street Lighting Market Outlook - 2027
Solar street light is normal light that draws power from the solar panels fixed on top of the pole or even integrated into the pole. These solar panels are connected to rechargeable batteries, which provide power to the fluorescent or an LED lamp when the sun sets. Most of these lights can be turned on and off automatically by using sensors that monitor the outdoor light using the solar panel voltage. Solar street lights are designed to run throughout the night; however, some can work for more than one night if there is insufficient sunlight during poor weather conditions.
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic has impacted the global solar street light market to a notable extent.
- Owing to the implementation of lockdown across different countries and restrictions on both national and international transportation, the supply chain of the industry is massively affected. The supply of major parts such as the solar panels, photovoltaic cells, batteries, CFL, or LED lamps has been significantly reduced, thereby declining the production capacity of the industry and affecting the maintenance of the working units.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rapid growth in urbanization and rise in need for a sustainable infrastructure have played a major role in driving the growth of the global solar street light market. Stringent government regulations imposed toward carbon emission and surge in demand for newer solar technologies have driven the growth of the market. Being completely independent of the electrical grids, the operation cost of these lights is minimum. Moreover, these lights require less maintenance as compared to conventional street lights. Moreover, as there is no external wiring, the risk of accidents is minimized.
Solar street lights are majorly applicable in residential and commercial areas. Presently, various initiatives are being taken by the government and also by the local civic authorities for using the solar street lights as the lighting solutions for streets, roadways, and various other public and commercial establishments. Moreover, these solar lights serve as an ideal option for lighting across off grid as well as remote areas. With growing environmental awareness, governments of various nations are implementing favorable regulations to promote the use of renewable sources of energy, thereby boosting the demand for solar street light. Thus, all these factors have collectively contributed toward the growth of the global market.
The Asia-Pacific region is leading the solar street light market, owing to extensive progress and urbanization in the emerging economies such as India and China. Furthermore, growth of the market in regions such as North America and Europe is anticipated to be steady in the near future, owing to surge in number of smart city projects and rise in usage of renewable sources of energy in the region.
Key benefits of the report
- This study presents the analytical depiction of the global solar street lighting industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global solar street lighting market share.
- The current market is quantitatively analyzed to highlight the global solar street lighting market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global solar street lighting market research report:
- Which are the leading market players active in the global solar street lighting market?
- What are the current that trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Solar Street Lighting Market Report Highlights
Key Market Players
SOKOYO Solar Group, Bajaj Electricals And Zumtobel AG, VerySol GmbH, Philips Lighting Holding B.V., Omega Solar, Sol Inc., Urja Global Ltd., Dragons Breath Solar, Bridgelux Inc.