Solar Street Lighting Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 24, 2024 /EINPresswire.com/ -- The solar street lighting market has experienced robust growth in recent years, expanding from 8.93 billion in 2023 to $10.55 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to advocacy and community engagement, government initiatives and policies, environment and sustainability awareness, rural electrification initiatives, urban development and infrastructure projects.

What Is The Estimated Market Size Of The Global Solar Street Lighting Market And Its Annual Growth Rate?
The solar street lighting market is projected to continue its strong growth, reaching $19.97 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to market expansion in developing regions, rising energy costs and demand, environmental awareness and sustainability goals, government support and policies.

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Growth Driver Of The Solar Street Lighting Market
The increasing demand for clean energy is expected to propel the growth of the solar street lighting market going forward. Clean energy is energy produced by production processes that do not emit any pollutants, particularly greenhouse gases such as CO2 that contribute to global warming to improve environmental protection. Clean energy such as solar energy is commonly used as renewable energy in public lighting, where, solar street light contains photovoltaic solar panels integrated into their design, which effectively capture sunlight throughout the day and store the energy in a battery system. This ' battery discharges its energy to the light source at night.

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Which Market Players Are Driving the Solar Street Lighting Market Growth?
Key players in the market include Acuity Brands Inc., Bajaj Electricals Limited, Bridgelux Inc., Cooper Lighting LLC, Dragons Breath Solar, Jiangsu Sokoyo Solar Lighting Co. Ltd., Signify Holding B.V., Solektra Solar Energy, Sunna Design SA, Urja Global Ltd., Omega Solar LLC, VerySol GmbH, Solar Street Lights, Yingli Solar Holding Co. Ltd., Greenshine New Energy Co. Ltd., ABB Limited, Nomo Group CO. Ltd., Su-Kam Power Systems Ltd., GE Lighting, Digital Lumens Incorporated, Honeywell International Inc., Legrand Group, Lutron Electronics Company Inc., Osram Licht AG, Zumtobel Group AG, Anhui Longvolt Energy Co. Ltd., BISOL Group, Covimed Solar, Jinhua SunMaster Solar Lighting Co. Ltd., Shenzhen Spark Co. Ltd.

What Are the Emerging Trends Shaping the Solar Street Lighting Market Overview?
Major companies operating in the solar street lighting market are innovating new products, such as the eco-friendly urban lighting solutions, to sustain their position in the market. Eco-friendly urban lighting solutions in solar street lighting leverage renewable energy sources to provide sustainable and energy-efficient illumination, reducing environmental impact and promoting eco-conscious urban development.

How Is The Global Solar Street Lighting Market Segmented?
1) By Type: Portable, Standalone, Centralized
2) By Component Type: Controller, Lamp, Solar Panel, Sensors, Battery, Other Components
3) By Luminaries: Light Emitting Diode, Compact Fluorescent Lamps
4) By Application: Parking Lot, Highway And Roadway, Airport Runway, Manufacturing Site

Geographical Insights: Asia-Pacific Leading The Solar Street Lighting Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Solar Street Lighting Market Definition
Solar street lighting is illuminating streets with photovoltaic panels generally mounted on the lighting structure or integrated with the pole itself, where photovoltaic panels charge rechargeable batteries to power fluorescent or LED lamp during the night.
The main types of solar street lighting are portable, standalone, and centralized. Portable refers to the process in which an object can be easily moved from one place to another based on need. The components involved are a controller, lamp, solar panel, sensors, battery, and others with light emitting diode, compact fluorescent lamps, which are used for the parking lot, highway and roadway, airport runways, and manufacturing site applications.

Solar Street Lighting Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global solar street lighting market report covering trends, opportunities, strategies, and more
The Solar Street Lighting Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on solar street lighting market size, solar street lighting market drivers and trends and solar street lighting market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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