SOLAR STREET LIGHTINGS MARKET TOP KEY PLAYER: SOL INC., VERYSOL INC, BRIDGELUX INC. | INDUSTRY ANALYSIS FORECAST TO GROW AT 21.02% CAGR 2018 – 2023.

Global Solar Street Lighting Market, By Type (Standalone, On Grid), By Product Type (Compact Fluorescent Lamps (CFL), Light Emitting Diode (LED)), By Application (Residential, Commercial, Industrial), and By Regions - Forecast 2017-2023.

Market Highlights

Developed countries in North America and Europe are likely to play a key role in the development of the global solar street lighting market due to the widespread demand for replacement of conventional street lighting systems. Developing countries in Asia Pacific and Africa are also the key consumers in the solar street lighting market. The widespread demand for large-scale lighting systems in dynamic economies such as India and China is vital for the Asia Pacific solar street lighting market, with India topping the global solar street lighting market. The fastest growth of Middle East & Africa can be attributed to increasing government support, constantly increasing energy costs, rise in demand of electricity, and surging demand for renewable lighting sources. The increasing awareness about the benefits associated with the use of solar street lighting over traditional lighting sources, adds to the growth.

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Key Players

The prominent players in the Solar Street Lightings are VerySol Inc. (U.S.), Solar Street Lights USA (U.S.), Dragons Breath Solar (U.K.), Urja Global Ltd. (India), Solektra International LLC (U.S.), Bridgelux Inc. (U.S.), SOKOYO Solar Group (China), Sunna Design (France), Sol Inc.(U.S.), Philips Lighting Holding B.V.( the Netherlands), and Omega Solar (India).

Impact on the Environment

The global solar street lighting market is still facing the problem of new technology promotion in a market filled with strong conventional rivals. Customers are still facing the problem of low level of awareness regarding the overall benefits and relatively costlier technology. Additionally, regionally, solar street lighting cannot be implemented in all locations due to the varied quantity of sunlight that each region receives, even without taking into consideration unpredictable weather conditions.
Solar-driven street lights have no pernicious impact on the environment. The use of solar energy to drive street lights is extremely innocuous and, in fact, far better than the use of traditional street lights driven by electricity, which is generated from non-replenishable sources. Moreover, the use of these non-replenishable sources to drive traditional street lights, also leads to the production of carbon dioxide as a by-product, which is anything but good for the ecological balance.

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Regional Analysis

Market Research Future analysis shows that the global market of solar street lightings market is estimated to grow at CAGR of 21.02 % by the end of the forecast period. These are outdoor raised light sources that are powered by the photovoltaic or PV panels. By raised, it means that the solar panels are either mounted on the lighting structure or they are connected using a pole. These PV panels are equipped with a rechargeable battery, which enables them to provide power for the duration of the entire night to the fluorescent or LED lamp. Also, in the majority of instances, these solar street lights have solar panels, which can sense outdoor light, automatically, through an external light source. With the energy production and storage capacities, even in the absence of sunlight these can produce light, successively, during nights for a minimum of 2-3 days.

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