Solar Street Lighting Market To Capture Massive Gains With A 21% CAGR By 2023

Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Solar Street Lighting Market Research Report.

Solar Street Lighting Market – Overview

The concept of solar powered devices has gained considerable momentum in recent years owing to the global debate surrounding global warming and energy efficient practices. Market reports associated with the energy and power sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is anticipated to achieve 21.02 % CAGR by the end of the forecast period.

As concepts of smart cities filter down to urban and rural infrastructures, the demand for solar lighting is also picking up traction. LED lighting is found to have a significant hold in the market due to its energy efficiency. The quality lighting and reliability offered by solar lighting market is prompting demand growth both in the consumer and manufacturer end. The market is poised to witness dramatic price reduction in the LEDs cost and Rapid technical innovation which is projected to bolster the growth of the market in the coming years.

Segmental Analysis

The market is segmented on the basis of type, application, product type and regions. On the basis of Type, the market is segmented into On-Grid and Standalone. On the basis of Product Type, the market segmentation consists of Light Emitting Diode (LED) and Compact Fluorescent Lamps (CFL). By Application, the market is segmented into Commercial, Residential and Industrial. On the basis of Regions, the market is segmented into APAC, Europe, North America and the rest of the world.

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Detailed

Regional Analysis

The regional analysis of the market for global solar street lighting is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. The market is observed to be increasingly dominated by the Asia Pacific region. The widespread development of the Asia Pacific market can be chiefly attributed to the booming urbanization in nations such as India and China. The mounting GDP of dynamic economies in the region coupled with the growing progress evident in high-end technologies from advanced regions are also adding to its progress. Areas with an absence of public infrastructure have increasing demand for solar products.

Competitive Analysis

The pioneering innovations in products and services are the chief factor contributing to the market's success and influencing the trends that have gained importance in the market. The availability of a proficient labor force along with resources is growing the overall market development. The external factors are determining the market’s course which is dependent on the practices and the strategic roadmaps that are used by the market players. The market is relatively well defined in terms of its volume and value. The main success factors and competitors’ inclinations are increasingly inclined to the strategies being used by market companies.

The primary contenders in the solar street lighting market globally are Solar Street Lights USA (U.S.), VerySol Inc. (U.S.), Dragons Breath Solar (U.K.), Philips Lighting Holding B.V. (the Netherlands), Solektra International LLC (U.S.), SOKOYO Solar Group (China), Bridgelux Inc. (U.S.), Sunna Design (France), Urja Global Ltd. (India), Sol Inc. (U.S.), and Omega Solar (India).

Industry Updates:

March 2018 Philips Lighting has launched a new generation of solar-powered street lighting systems and products. Innovations comprise of an all-in-one solar street light, Philips SunStay, which unites solar panel, light, and battery in one housing, and Philips LifeLight which is a solar lantern which comes with a disposable battery. The company’s two recent large-scale solar-powered street lighting installations in India, and the end of 700 sets of linked solar street lights with remote monitoring and data competences in Thailand