Solar Street Lighting Market: Growing Need for Cost-effective and Clean Energy to Boost Growth

Posted July 12, 2016 by MarketResearchHub

Solar Street Lighting Market to Expand Rapidly at 23.23% CAGR 2016-2024, Poised to Reach US$17.78 Bn

ALBANY, New York, July 12, 2016 – Market Research HUB has added a new report, ‘Solar Street Lighting Market by Type (Standalone and On Grid), Lighting Source (Compact Fluorescent Lamps (CFL) and Light Emitting Diodes (LED)), Application (Residential, Commercial and Industrial) and Geography (North America, Europe, Asia Pacific, Middle East &Africa and South and Central America) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2016 – 2024,’ to its offering. This report provides an in-depth evaluation on the market for solar street lighting, elaborating on the prime dynamics influencing the development of this market. These dynamics include the major drivers, opportunities, restraints, etc. A thorough analysis of the market has also been presented by evaluating the market using the Porter’s five forces model.

The report starts by presenting a snapshot of the market for solar street lighting and provides a description of street lighting technology. Street lighting systems utilized outdoors for illuminating open areas or streets by employing solar energy are termed as solar street lighting units. Owing to their reliance on sunlight, solar street lighting units are installed at places where direct sunlight falls for most of the day. This is done so as to provide an adequate amount of charge to the batteries to operate in a single working cycle. These street lighting units have a rechargeable lead acid battery for storage of the solar energy, photovoltaic modules to charge the batteries, and light emitting diodes (LEDs). The key components utilized in solar street lighting units are batteries, solar panels, control system, and others.

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The next section of this study highlights the major factors fuelling and restraining the development of the global solar street lighting market. The growing need for cost-effective and clean energy and the increasing implementation of off-grid energy generation are amongst the chief factors propelling the development of the market. In addition, the reduced manufacturing costs of solar-based equipment and components will also positively impact the development of the market for solar street lighting. Furthermore, the increasing preference for off-grid electricity is a key growth opportunity in this market. However, the soaring costs of installation of solar street lighting units may negatively impact the growth of this market.

In terms of type, the report segments the solar street lighting market into on grid and standalone solar street lighting units. Solar street lighting is utilized in a number of application areas, particularly within the industrial, residential, and commercial sectors. By lighting source, the report segments the solar street lighting market into light emitting diode (LED) and compact fluorescent lamps (CFL).

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Geographically, the solar street lighting market is categorized into Europe, North America, the Middle East and Africa, Asia Pacific, and South and Central America. The prime players dominant in this market are Omega Solar, Bridgelux, Inc., Philips Lighting Holding B.V., Dragons Breath Solar, Solektra International, SOKOYO Solar Group, Sunna Design, VerySol GmbH, Urja Global Ltd., Sol, Inc., and Solar Street Lights USA, among others.

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Issued By Market Research HUB
Website Market Research HUB
Phone +1-518-621-2074
Business Address 90 State Street
Albany, NY 12207
Country United States
Categories Business , Energy , Manufacturing
Tags global solar energy market , global solar engery industry analysis , global solar street lighting market , solar street lighting market
Last Updated July 12, 2016