Solar Street Lighting Market Trends, Applications, Analysis And Forecast

“Global Solar Street Lighting Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global solar street lighting market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027.

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Government intervention through initiatives and policies, including legislation, international treaties and incentives to investment such as the formation incentives in the U.S. is expected to drive the market growth. In many countries such as India and European countries, the policies such as feed-in-tariff (FIT), portfolio standard (RPS), tax credits, pricing laws etc.

Many streetlights around the globe are now being updated to LED lighting, which is more reliable and consume less energy than traditional sodium lamps. Advancement in technology & innovation and dramatic price reduction in the LED, PV module, and battery components, which has occurred in last few years, will speed up the penetration of solar street lights across the world.

The global solar street lighting market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Geographically, market of solar street lighting market was dominated by Asia Pacific.

In addition, stringent regulations with a target to reduce carbon footprint, financial support as well as subsidies for using renewable sources of energy, various schemes, campaigns and programs introduced by The World Bank and International Finance Corporation to promote solar power solutions have led to an increase in demand for the target product in this region.

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