Solar Street Lighting Market Growth, Upcoming Demand Analysis and Regional Forecast 2027
A comprehensive overview of the Solar Street Lighting market is recently added by UnivDatos Market Insights to its humongous database. The Solar Street Lighting market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Solar Street Lighting market. The Solar Street Lighting market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Solar Street Lighting market at the global and regional levels.
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Market Overview
The Solar Street Lighting market is expected to grow with a significant CAGR of --% from US$ -- billion in 2020 to US$ -- billion in 2027. Key factors influencing this market growth include rising infrastructure and emergence of smart cities. Additionally, the declining price of solar panels is also influencing the market growth. Solar street lights are energy efficient, lower in long term costs and can be controlled in real time via central control units or devices. Their reduced energy consumption is leading to their increasing demand in coming years. The solar panel prices have undoubtedly decreased over the years. According to a report by National Renewable Energy Laboratory (NREL), costs of solar panels fell from US$ 10/W to US$ 2/W from 1980 to 2010. Additionally, between 2015 and 2019, the costs have dropped from US$ 0.70/W to US$ 0.35/W which is about 50% over 4 years. This decreasing cost is also expected to boost the solar street light market growth.
COVID-19 Impact
The recent covid-19 pandemic in 2019 took the world by a storm. The pandemic brought the world to a standstill. All industries have suffered some form of loss due to the pandemic. In addition to this the pandemic has also cost many lives. Till date there have been 177,470,620 covid-19 cases in the world and 3,839,931 deaths. Most nations around the world were affected by the pandemic which not only took lives but also took away jobs. The pandemic caused a huge economic burden all around the world with most industries bearing some form of loss. The Solar Street Lighting industry also saw a slowdown during the pandemic as the industries were shut and production was affected.
Solar Street Lighting market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily segmented into
Standalone
On Grid
The On Grid segment generated revenue of US$ -- billion in 2020 and is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of US$ -- billion by 2027F.
By Component, the market is primarily segmented into
CFL
LED
The LED segment generated revenue of US$ -- billion in 2020 and is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of US$ -- billion by 2027F.
By End-User, the market is primarily segmented into
Residential
Commercial
Industrial
The end-user segment generated revenue of US$ -- billion in 2020 and is expected to grow at a CAGR of --% during the forecast period to reach a market valuation of US$ -- billion by 2027F.
Solar Street Lighting Market Geographical Segmentation Includes:
North America
Europe
Asia-Pacific
Rest of the World
Based on the estimation, the Asia-Pacific region dominated the Solar Street Lighting market with almost --% revenue share in 2020. Asia-Pacific also saw the highest CAGR of --% in the forecast period due to the increasing demand of electricity in rural areas and thus installation of solar street lights.
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The major players targeting the market includes
VerySol Inc.
Solar Street Lights USA
Dragons Breath Solar
Urja Global Ltd.
Solektra International LLC
ABB Ltd.
SOKOYO Solar Group
Sunna Design
Sol Inc.
Philips Lighting Holding B.V.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Solar Street Lighting market. The leading players have been analysed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
What are the latest trends, new patterns, and technological advancements in the Solar Street Lighting market?
Which factors are influencing the Solar Street Lighting market over the forecast period?
What are the global challenges, threats, and risks in the Solar Street Lighting market?
Which factors are propelling and restraining the Solar Street Lighting market?
What are the demanding global regions of the Solar Street Lighting market?
What will be the global market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by global companies?
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Table Of Content:
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 SOLAR STREET LIGHTING MARKET REVENUE, 2021-2027F
6 MARKET INSIGHTS BY TYPE
7 MARKET INSIGHTS BY COMPONENT
8 MARKET INSIGHTS BY END-USER
9 MARKET INSIGHTS BY REGION
10 SOLAR STREET LIGHTING MARKET DYNAMICS
11 SOLAR STREET LIGHTING MARKET OPPORTUNITIES
12 SOLAR STREET LIGHTING MARKET TRENDS
13 DEMAND AND SUPPLY SIDE ANALYSIS
14 VALUE CHAIN ANALYSIS
15 COMPETITIVE SCENARIO
16 COMPANY PROFILED
17 DISCLAIMER
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