Solar Street Lighting Market is Expected to Showcase Rampant Growth Over 2030

Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Solar Street Lighting Market.

Market Synopsis

As per the research by Market Research Future Reports (MRFR), the global solar street lighting market is likely to expand steadily during the review period. It is most likely to expand at a CAGR of approximately 14.12% by 2030. The governments across the globe are encouraging the development and usage of electricity through sustainable sources of energy, which is driving the global solar street lighting market 2030. The off-grid energy has played a significant role in providing electricity to the areas which are deprived of grid electricity. Therefore it augments the solar street lighting market. The most significant element of the worldwide solar street lighting market is the rising harmful impact of the traditional forms of energy obtained from the conventional fuel types and reducing the levels of fossil fuels in natural reservoirs across the world.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Solar Street Lighting MarketResearch Report

Moreover, easy setup and cheap cost of maintenance during its operation and the growing demand for clean and renewable energy are the essential elements for the expansion of the solar street lighting market. Besides, the solar resource is limitless, and the government is taking several initiatives to encourage the usage of solar panels as an energy source in suburban and rural areas for electrifying the street lights. However, the battery used to reserve power has a particular impact because of overcharge and discharges.

Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.

Market Segmentation

the global solar street lighting market can be segregated on the basis of product type, application, type, and region.

On the basis of product type, the global solar street lighting market can be segregated into LED and CFL.

On the basis of application, the global solar street lighting market can be segregated into commercial, industrial, and residential.

On the basis of type, the global solar street lighting market can be segregated into on grid and standalone.

On the basis of region, the global solar street lighting market can be segregated into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Regional Analysis

The geographical analysis of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the market is dominated by the Asia-Pacific region. The exponential growth of the APAC market can be attributed to the rapid urbanization in emerging economies like India and China. Besides, the rising GDP of dynamic economies in the region is another reason for the expansion of the market. Some suppliers also make a business from solar-powered LED lighting products to the third world countries in the Middle East region. The regions which lack public infrastructure using a larger number of solar products. On the other hand, the development in Europe and the U.S. is robustly taking place. The growing exclusive technologies from the advanced nations are also propelling the market.

However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.

Key Players

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