Press release
Solar Street Lighting Market to Reach USD 24.7 Billion by 2035, Driven by Clean Energy Goals and Smart City Initiatives
Solar Street Lighting Market
Introduction:
The global Solar Street Lighting Market is projected to witness exponential growth, reaching a market value of USD 24.7 Billion by 2035. With a forecasted CAGR of 14.7 % from 2025 to 2035, the market is gaining momentum due to increasing investments in renewable energy, government sustainability mandates, and rapid urbanization.
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Market Drivers:
• Rising Demand for Renewable Energy Solutions: Solar street lighting offers a reliable and eco-friendly alternative to conventional grid-based lighting systems.
• Government Support & Smart City Projects: Incentives, subsidies, and infrastructure modernization plans globally are pushing adoption.
• Declining Costs of Solar Technology: The falling prices of PV panels, batteries, and LED components make solar street lighting increasingly cost-effective.
• Energy Access in Remote Areas: Solar lighting is helping electrify underserved and off-grid rural regions.
Segmentation:
By Product Type:
• Compact Fluorescent Lamps (CFL)
• Light Emitting Diode (LED)
By Connection Type:
• On Grid
By Application:
• Residential
• Commercial
• Industrial
Key Trends:
• Integration of smart controls, sensors, and IoT for adaptive lighting
• Use of Li-ion batteries for enhanced storage and longevity
• Modular and plug-and-play designs gaining popularity
• Strategic public-private partnerships in infrastructure development
Regional Outlook:
• Asia-Pacific leads the market due to large-scale deployment in India, China, and Southeast Asia.
• Africa emerges as a key market with off-grid lighting initiatives.
• Europe and North America focus on sustainability and carbon neutrality targets.
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Recent Developments:
• Servotech Power Systems, a developer of solar and LED goods, introduced a new line of solar street lights in November 2021 to provide superior outdoor lighting. Streets, roads, highways, parks, boundary walls, and other areas can all benefit from the use of these solar street lights.
Conclusion:
With environmental sustainability at the forefront of global agendas, solar street lighting is becoming an essential pillar of smart and green infrastructure. The industry is poised for significant innovation, investment, and impact.
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