Global Solar Street Lighting Market to Reach a Valuation of US$ 12.54 Bn by 2027; The Renewable Energy Movement to Drive Solar Street Lighting Market, Finds TMR
Market to chart Compound Annual Growth Rate of 16.24% over the forecast period
Asia Pacific to be a lucrative regional market; Brazil to record notable growth in Latin American region
Growing need to shift towards renewable energy sources contributing to increase in adoption of solar street lighting
24 Mar, 2020, 11:30 ET
ALBANY, New York, March 24, 2020 /PRNewswire/ -- From the year 2019 to that of 2027, the global solar street lighting market would chart a stellar growth rate of 16.24%. And, this is set to help the market witness multiple opportunities line-up its vendor landscape, an opportunity that many players would hustle to make the most of.
As per Transparency Market Research, "The global solar street lighting market would see its worth reach a valuation of USD 12.54 bn. by the end of the forecast period. It would be a notable increase for USD 3.76 bn. in the year 2018."
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Key Findings of Global Solar Street Lighting Market:
- On the basis of application, the commercial segment would dominate growth owing to massive adoption in malls, public streets and roadways
- Demand for green solutions is driving adoption of solar street lighting in the commercial segment
- Asia Pacific to stay at the forefront of growth in the global solar street lighting market
For a detailed analysis of solar street lighting market by type, lighting source, and application, visit: https://www.transparencymarketresearch.com/solar-street-lighting-market-2017-2025.html
Key Drivers of Global Solar Street Lighting Market:
As per Transparency Market Research, a number of growth factors are pushing the global solar street lighting market on a high growth curve, particularly over the forecast period. A glimpse into these trends and drivers is provided below:
- Governments across the globe are taking steps to promote development and use of renewable energy
- There is gradual shift noted from conventional to renewable energy sources, owing to the former's limited availability and negative environmental impact
- People all across the world are now more aware of their choices and are readier than ever to take proper steps in the right direction
- Countries like Spain and India recently started work on installation projects for solar powered street lights in Infanta Elena Park, and states like Uttar Pradesh, and Bihar, respectively
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/23906
Regional Analysis of Global Street Lighting Market:
- Asia Pacific to dominate growth in the global solar street lighting market
- Government initiative to drive the APAC market forward over the assessment period
- In Latin America, new opportunities to emerge as investment in the field increases in certain countries
- Brazil to be a prominent contributor of growth in the Latin American market owing to increasing investments and large-scale programs initiated towards this end
Analyze solar street lighting market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of Global Street Lighting Market:
The global street lighting market is highly competitive and the players that are prominent include Sol Inc., Solar Street Lights USA, Bridgelux Inc., Dragons Breath Solar, VerySol GmbH, Solektra International, Urja Global ltd., Omega Solar, Phillips Lighting Holding BV, SOKOYO Solar Group, and Sunna Design, among others.
It is important to note here that the market is fragmented and over the forecast period, it will witness further fragmentation, as more and more players enter the fray in order to carve off a slice of the projected growth.
Global Solar Street Lighting Market: Research Scope
Global Solar Street Lighting Market: by Lighting Source
- Compact Fluorescent Lamps (CFL)
- Light Emitting Diode (LED)
Global Solar Street Lighting Market: by Type
- On Grid
Global Solar Street Lighting Market: by Application
Global Solar Street Lighting Market: by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of MEA
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