Press release
Sustainable Illumination: The Expanding Solar Street Lighting Market
Solar street lighting is a technology that utilizes solar energy to provide illumination for outdoor areas, such as streets, walkways, parks, and public spaces. These lighting systems are designed to harness energy from the sun during the day and use it to power LED (light-emitting diode) lights during the night. Solar street lighting offers a sustainable and energy-efficient alternative to traditional grid-powered street lights.
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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.
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.
Top Companies
Philips Lighting Holding B.V., Bridgelux Inc., Dragons Breath Solar, Sol Inc., VerySol GmbH, Omega Solar, Bajaj Electricals And Zumtobel AG, Urja Global Ltd., SOKOYO Solar Group.
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.
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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.
Solar street lights are equipped with photovoltaic solar panels that convert sunlight into electrical energy. These panels are typically mounted on the top of the light pole or integrated into the luminaire.
Light-emitting diodes (LEDs) are used as the light source in solar street lighting. LEDs are energy-efficient, have a long lifespan, and provide bright and focused illumination.
Solar street lighting is a sustainable and environmentally friendly solution that reduces dependence on conventional energy sources. It contributes to energy conservation and the reduction of greenhouse gas emissions.
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.
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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.
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