Press release
Solar Street Lighting Market size was over USD 2.9 billion in 2015 with forecast to grow over 20% from 2016 to 2024
Global solar street lighting market size is further segregated on product basis as standalone and grid connected. Standalone product accounted for over 89% of global installation in 2015 owing to increasing demand for clean fuel energy couple with increasing off grid population across the region.
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Global street lighting trends indicate around 20% to 35% of the total energy bill, which signifies the rising focus towards enhancing energy efficiency by reducing power consumption. Furthermore, depleting fossil fuels have significantly contributed to increasing electricity prices. Solar street lights are efficient, clean and has low operational and maintained cost compared to conventional street lighting.
China LED solar street lighting market size may generate over USD 1.2 billion by 2024. The one foundation and climate group launched the 1,000 villages solar LED lighting program to electrify the rural communities in china.
Stringent government regulation towards energy conservation and to reduce carbon footprints is likely to drive solar street lighting market size. The industry players have analyzed the massive potential for solar energy source making it a new market opportunity to explore.
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Key insights from the report include:
Nigeria standalone solar street lighting market size was USD 148.5 million for 2015, and will grow at a CAGR of 21.9% from 2016 to 2024, as majority of population in Nigeria has no access to electricity owing to lack of electric infrastructure.
India LED solar street lighting market is forecast to reach over USD 3 billion by 2024. Increasing demand for energy conservation coupled with government regulations to reduce the carbon emissions in the country is likely to drive industry growth up to 2024.
Residential application in the U.S. is projected to reach at 0.28 million units by 2024. Government initiative to develop green building project for residential will further drive industry growth.
Browse key industry insights spread across 246 pages with 452 market data tables & 16 figures& charts from the report, “Solar Street Lighting Market in
detail along with the table of contents at:
https://www.gminsights.com/industry-analysis/solar-street-lighting-market
Low-cost batteries will consequently result in lowering the off-grid solar lighting product price. In addition, decreasing component cost will subsequently reduce the overall product price by 70%. Low price may increase the penetration of solar street lights among low income households.
Thailand grid connected segment demand was USD 3.6 million for 2015, growing at a CAGR of 16.32% from 2016 to 2024.
Brazil Residential segment demand was USD 3.5 million for 2015, growing at a CAGR of 16.7% from 2016 to 2024.
Global solar street lighting market share is highly fragmented and competitive. Sunna Design, Philips Lighting Holding B.V., SOKOYO Solar Group, Bridgelux, Inc., Urja Global Ltd., Omega Solar, Sol Inc., Dragons Breath Solar, VERYSOL Gmbh, Solar Street Lights USA.
Browse Related Report
Africa Off Grid Solar Lighting Market Size By Product (Solar Lantern System, Solar Home System and Large Solar Home System) By Application (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook (Kenya, Tanzania, Ethiopia, Uganda, Ghana, Rwanda, Nigeria, Zambia, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
https://www.gminsights.com/industry-analysis/africa-off-grid-solar-lighting-market
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