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Solar Street Lighting Market Report 2023: Comprehensive Research Study By Key Players: Acuity Brands Inc., Bajaj Electricals Limited, Bridgelux Inc., Cooper Lighting LLC, Dragons Breath Solar, Jiangsu Sokoyo Solar Lighting Co Ltd., Signify Holding B.V
Solar Street Lighting Market Report 2023
The Business Research Company's Solar Street Lighting Global Market Report 2023 identifies the increasing demand for clean energy is driving the growth of the solar street lighting market. For instance, in December 2021, according to the report published by International Energy Agency (IEA), a France-based autonomous intergovernmental organization for energy, world renewable electricity capacity is anticipated to increase by more than 60% from 2020 to 2026 with over 4 800 GW.
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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Major competitors in the solar street lighting market are Acuity Brands Inc., Bajaj Electricals Limited, Bridgelux Inc., Cooper Lighting LLC, Dragons Breath Solar, Jiangsu Sokoyo Solar Lighting Co Ltd., Signify Holding B.V, Solektra Solar Energy, Sunna Design SA, Urja Global Ltd., Omega Solar LLC, VerySol GmbH, Solar Street Lights USA, Yingli Solar, Greenshine New Energy, ABB Group, Nomo Group CO Limited.
A key trend in the solar street lighting market includes product innovations. 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.
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The solar street lighting market is segmented -
• By Type: Portable, Standalone, Centralized
• By Component Type: Controller, Lamp, Solar Panel, Sensors, Battery, Other Components
• By Luminaries: Light Emitting Diode, Compact Fluorescent Lamps
• By Application: Parking Lot, Highway And Roadway, Airport Runway, Manufacturing Site
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the solar street lighting market
The Business Research Company's "Global Solar Street Lighting Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Solar Street Lighting Market Include:
1. Executive Summary
2. Solar Street Lighting Market Characteristics
3. Solar Street Lighting Market Trends And Strategies
4. Solar Street Lighting Market - Macro Economic Scenario
5. Solar Street Lighting Market Size And Growth
……………
27. Solar Street Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Solar Street Lighting Market
29. Solar Street Lighting Market Future Outlook And Potential Analysis
30. Appendix
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