The “Global Solar Street Lighting Market Analysis and Forecast to 2023” report have been added to Research and Markets’ offering.
As per the findings of the research, standalone type held the larger share of solar street lighting market as compared to the on-grid type. The designers of these lights have been searching for more efficient and heat resistant design solutions for these lights. Rapid transformations taking place in the solar street lighting market have made these lights more user-friendly. Several design modifications have led to improvement in the working of standalone models, consequently making them more popular among buyers.
Among the various application areas of the solar street lighting market, commercial application has been the largest contributor. whereas among the lighting types, LED lighting witnessed a significant growth rate of 40.6% during 2013 – 2016. In terms of volume sales, the global solar street lighting market will witness the fastest growth in residential applications.
Asia-Pacific has been the largest solar street lighting market, whereas MEA is expected to witness the fastest growth among all the regions. The fastest growth in MEA market can be attributed to increasing government support, constantly increasing energy costs, rise in demand of electricity, surging demand for renewable lighting sources, and increasing awareness amongst citizens about benefits associated with the use of solar street lighting over traditional lighting sources.
Due to the presence of harsh climatic conditions in MEA, the standalone lightings were more preferred and formed larger market as compared to on-grid. The World Bank and International Finance Corporation are collectively making efforts for the upliftment of several countries in MEA by providing funds for developing the lighting and power industries and setting up solar street lights in these countries.
The surging urbanization in developing countries has been leading to the rise in demand for energy, and governments of various countries are supporting eco-friendly methods of producing energy. This is consequently driving the demand for solar street lights globally. The technology in solar street lights are continuously improving over the years, and are expected to make further advancements in supportive government regulations and product innovation.
Some of the other major companies operating in this market include Koninklijke Philips N.V., Sunna Design, Omega Solar, Su-Kam Power Systems Ltd., Urja Global Ltd and Sokoyo Solar Group.
Launch of smart cities projects
Growing demand of cellular-connected solar street lights
Decline in price of solar lighting units
Stringent government regulation and support
Constantly increasing energy costs
Decreasing solar component cost
Impact analysis of drivers on market forecast
Absence of global LED standardization
Competition due to counterfeit products
High initial capital and installation costs
Impact analysis of restraints on market forecast
Increasing urbanization in developing regions
Technical innovation increasing the penetration of solar street lighting market
Key Topics Covered:
1. Research Background
2. Research Methodology
3. Executive Summary
5. Market Size and Forecast by Lighting Type
6. Market Size and Forecast by Product Type
7. Market Size and Forecast by Application
8. Market Size and Forecast by Geography
9. Competitive Landscape
10. Company Profiles
Carmanah Technologies Corp.
Dragons Breath Solar
Koninklijke Philips N.V.
Sokoyo Solar Group
Solar Street Lights the USA
Su-Kam Power Systems Ltd.
Urja Global Ltd.
For more information about this report visit www.researchandmarkets.com/research/wrjphw/global_solar?w=5