Press release
Rapidly Expanding Solar Street Lighting Market Set to Cross $22.79 Billion Mark by 2029
Solar Street Lighting Market Size
What Is The Projected Market Size Of The Global Solar Street Lighting Market And Its Growth Rate?
Solar street lighting market has witnessed substantial growth and is projected to further expand, attributed by various drivers and trends. The key market size estimations are:
• Market increased from $10.39 billion in 2024 to $12.18 billion in 2025 at a compound annual growth rate (CAGR) of 17.3%.
• Market is expected to escalate to $22.79 billion in 2029 at a compound annual growth rate (CAGR) of 17.0%.
What Is Driving The Growth In The Solar Street Lighting Market?
Surge in clean energy demand is playing a significant role in propelling the solar street lighting market growth. Clean energy, such as solar energy, is now widely incorporated in public lighting, with solar street lights capturing sunlight during the day and storing it in battery systems. The energy then discharges to the light source at night. The American Clean Power Association reported a 12.5% increase in clean energy projects in 2023, thereby fuelling the market growth.
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Who Are the Key Players Driving Solar Street Lighting Market Growth?
Key players thriving in the solar street lighting market include:
• Acuity Brands Inc.
• Bajaj Electricals Limited
• 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
• Greenshine New Energy Co. Ltd.
• ABB Limited
• Nomo Group CO. Ltd.
• Su-Kam Power Systems Ltd.
• GE Lighting
• Anhui Longvolt Energy Co. Ltd.
• Covimed Solar
• Jinhua SunMaster Solar Lighting Co. Ltd.
• Shenzhen Spark Co. Ltd.
What Are The Key Trends In The Solar Street Lighting Market?
Key trends dominating the solar street lighting market landscape include:
• The advent of hybrid solar lighting systems
• Utilization of artificial intelligence and energy optimization
• Development of community-centric lighting solutions
• Enhanced durability and weather resistance
• Introduction of modular and scalable designs.
What Are The Segments Of The Global Solar Street Lighting Market?
The global solar street lighting market can be segmented as:
1) By Type: Portable, Standalone, Centralized
2) By Component Type: Controller, Lamp, Solar Panel, Sensors, Battery, Other Components
3) By Luminaries: Light Emitting Diode, Compact Fluorescent Lamps
4) By Application: Parking Lot, Highway And Roadway, Airport Runway, Manufacturing Site
Which Region Leads The Solar Street Lighting Market?
Asia-Pacific held the dominant position in the solar street lighting market in 2024. The report covers insights for all regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Solar Street Lighting Market Global Market Report?
- Market Size Analysis
- Market Segmentation Analysis
- Key Player Focus
- Growth Trends Analysis
- Market Contribution
- Growth Drivers
- Industry Challenges
- Competitive Developments.
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