Solar Street Lighting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
Solar street lighting systems can be an ideal lighting solution for lighting up roadways, streets, yards, boulevards, car parking spaces, airports, parks, civilian and military security installations, and almost any outdoor space. The solar panel receives sunlight and converts it into electricity, storing thus obtained energy in rechargeable batteries. The light automatically turns on with nightfall and can be customized to the desired brightness and wattage. However, the installation of these systems in an appropriate manner is crucial to ensure maximum efficiency. They need to be installed in a shadow-free, sunlit area to ensure maximum output.
Browse Solar Street Lighting Market Research Report: http://www.transparencymarketresearch.com/solar-street-lighting-market.html
The report analyzes the key growth drivers, restraints, growth opportunities and trends in the global market for solar street lighting. The market attractiveness, competitive landscape, value chain analysis, and relevant statistical data is also covered in the report. The Porter’s Five Force analysis has been leveraged with a view to gauge the level of competition amongst the market players. The market shares, product offerings, and prominent business strategies prevailing in the global market for solar street lighting have also be revealed.
Driven by Government Encouragement, LEDs and CFLs to Witness Maximum Demand
By application, industrial, residential, and commercial sectors can be the key application segments of the global market for solar street lighting. On-grid and standalone could be the major segments of the global solar street lighting market by type. By lighting source, LED and CFL can be the chief segments of the market.
Governments of numerous countries are encouraging the adoption of solar LED street lighting as they are eco-friendly and cost-efficient. Advanced solar street lighting systems save significant energy. For instance, the CFL technology utilizes only one fourth of energy used by other lighting systems. LED solar street lighting projects have been rising, as these systems not only cover a wide area but also provide uniform lighting, enhancing safety and acuity on roadways. Improved color rendering and slower depreciation than traditional street lights are some other advantages of these systems. Declining costs of solar components will further assist the LED and CFL segments to flourish.
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Africa’s Dependence on Off-grid Connections to Accelerate Demand
Asia Pacific held a whopping 44% of the global market for solar street lighting in 2015. Led by India and China, the market in this region will exhibit considerable advancement thanks to the favorable government initiatives and rising environmental concerns. North America is also slated for tremendous growth owing to early adoption of solar lighting across this region. The solar street lighting market in Europe offers substantial opportunities. Ranking third in terms of market share, the growth of Europe can be attributed to rising demand from countries such as the U.K and Germany.
Notwithstanding the growth of the aforementioned regional markets, it is Africa that furnishes maximum potential for expansion. This untapped zone will be driven primarily by initiatives such as awareness campaigns, subsidies, and various supportive programs aimed at boosting the adoption of solar street lighting across Africa. The International Finance Corporation and the World Bank are encouraging the use of solar street lighting products, thereby significantly aiding the expansion of solar street lighting market in this region. Solar street lighting is a viable option through the invalidation of grid connectivity, which is presently unattainable. Therefore, local manufacturers are offering more efficient systems. As a result, the market in this region is expected to soar.
Some of the major companies operating in the global market for solar street lighting systems are Omega Solar, VerySol GmbH, Dragons Breath Solar, Solar Street Lights USA, Philips Lighting Holding B.V., Solektra International, Bridgelux, Inc., Sol, Inc., Urja Global Ltd., SOKOYO Solar Group, and Sunna Design.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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