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Solar Street Lighting Trends and Forecast
The future of the global solar street lighting market looks promising with opportunities in the commercial, residential, and industrial markets. The global solar street lighting market is expected to reach an estimated $10.2 billion by 2030 with a CAGR of 14.5% from 2024 to 2030. The major drivers for this market are accelerated switch to renewable energy sources, growing urbanization and swift advancements in infrastructure within developing countries, as well as, greater understanding of the advantages of solar street lighting for the environment.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Solar Street Lighting by Segment
The study includes a forecast for the global solar street lighting by connection type, product type, end use, and region
Solar Street Lighting Market by Connection Type [Shipment Analysis by Value from 2018 to 2030]:
• Standalone
• Grid Connected
Solar Street Lighting Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• CFL
• LED
Solar Street Lighting Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Commercial
• Residential
• Industrial
Solar Street Lighting Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Solar Street Lighting Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solar street lighting companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solar street lighting companies profiled in this report include-
• Philips Lighting
• Su-Kam
• Dragons Breath Solar
• Verysol
• Sunna Design
• Urja Global
• Bridgelux
• Solar Street Lights
Solar Street Lighting Market Insights
Lucintel forecast that LED is expected to witness highest growth over the forecast period because it has a longer lifespan than CFL solar street lights, more reliable, consumes less energy, offers better efficiency in light and lower price of the product.
Within this market, commercial will remain the largest segment because of the increasing initiatives by government and civic authorities using solar lighting, as well as, growing demand for solar lighting in areas such as, parking lots, sidewalks, subways, perimeter secure lighting, and public area lighting.
APAC is expected to witness largest region over the forecast period due to greater infrastructural development and urbanization in nations like China, Japan, and India, along with the increased use of programs and incentives by the government to encourage the deployment of solar energy.
Features of the Global Solar Street Lighting Market
Market Size Estimates: Solar street lighting market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Solar street lighting market size by connection type, product type, end use , and region in terms of value ($B).
Regional Analysis: Solar street lighting market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different connection type, product type, end use, and regions for the solar street lighting market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solar street lighting market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the solar street lighting market size?
Answer: The global solar street lighting market is expected to reach an estimated $10.2 billion by 2030.
Q.2 What is the growth forecast for solar street lighting market?
Answer: The global solar street lighting market is expected to grow with a CAGR of 14.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the solar street lighting market?
Answer: The major drivers for this market are accelerated switch to renewable energy sources, growing urbanization and swift advancements in infrastructure within developing countries, as well as, greater understanding of the advantages of solar street lighting for the environment.
Q4. What are the major segments for solar street lighting market?
Answer: The future of the global solar street lighting market looks promising with opportunities in the commercial, residential, and industrial markets.
Q5. Who are the key solar street lighting market companies?
Answer: Some of the key solar street lighting companies are as follows:
• Philips Lighting
• Su-Kam
• Dragons Breath Solar
• VerySol
• Sunna Design
• Urja Global
• Bridgelux
• Solar Street Lights
Q6. Which solar street lighting market segment will be the largest in future?
Answer: Lucintel forecast that LED is expected to witness highest growth over the forecast period because it has a longer lifespan than CFL solar street lights, more reliable, consumes less energy, offers better efficiency in light and lower price of the product.
Q7. In solar street lighting market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness largest region over the forecast period due to greater infrastructural development and urbanization in nations like China, Japan, and India, along with the increased use of programs and incentives by the government to encourage the deployment of solar energy.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the solar street lighting market by connection type (standalone and grid connected), product type (CFL and LED), end use (commercial, residential, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to solar street lighting market or related to solar street lighting companies, solar street lighting market size, solar street lighting market share, solar street lighting market growth, solar street lighting market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Solar Street Lighting Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Solar Street Lighting Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Solar Street Lighting Market by Connection Type
3.3.1: Standalone
3.3.2: Grid Connected
3.4: Global Solar Street Lighting Market by Product Type
3.4.1: CFL
3.4.2: LED
3.5: Global Solar Street Lighting Market by End Use
3.5.1: Commercial
3.5.2: Residential
3.5.3: Industrial
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Solar Street Lighting Market by Region
4.2: North American Solar Street Lighting Market
4.2.1: North American Solar Street Lighting Market by Product Type: CFL and LED
4.2.2: North American Solar Street Lighting Market by End Use : Commercial, Residential, and Industrial
4.3: European Solar Street Lighting Market
4.3.1: European Solar Street Lighting Market by Product Type: CFL and LED
4.3.2: European Solar Street Lighting Market by End Use : Commercial, Residential, and Industria
4.4: APAC Solar Street Lighting Market
4.4.1: APAC Solar Street Lighting Market by Product Type: CFL and LED
4.4.2: APAC Solar Street Lighting Market by End Use : Commercial, Residential, and Industrial
4.5: ROW Solar Street Lighting Market
4.5.1: ROW Solar Street Lighting Market by Product Type: CFL and LED
4.5.2: ROW Solar Street Lighting Market by End Use : Commercial, Residential, and Industrial
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Solar Street Lighting Market by Connection Type
6.1.2: Growth Opportunities for the Global Solar Street Lighting Market by Product Type
6.1.3: Growth Opportunities for the Global Solar Street Lighting Market by End Use
6.1.4: Growth Opportunities for the Global Solar Street Lighting Market Region
6.2: Emerging Trends in the Global Solar Street Lighting Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Solar Street Lighting Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Solar Street Lighting Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Philips Lighting
7.2: Su-Kam
7.3: Dragons Breath Solar
7.4: VerySol
7.5: Sunna Design
7.6: Urja Global
7.7: Bridgelux
7.8: Solar Street Lights
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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