Solar Street Lighting Market by Lighting Source (Compact Fluorescent Lamps, Light Emitting Diode), Type (Grid Connected, Standalone), Deployment, Application - Global Forecast 2024-2030

Solar Street Lighting Market by Lighting Source (Compact Fluorescent Lamps, Light Emitting Diode), Type (Grid Connected, Standalone), Deployment, Application - Global Forecast 2024-2030

The Solar Street Lighting Market size was estimated at USD 5.67 billion in 2023 and expected to reach USD 6.23 billion in 2024, at a CAGR 10.55% to reach USD 11.44 billion by 2030.

Solar street lighting includes autonomous, energy-efficient lighting solutions that harness solar energy for illumination in public and private outdoor spaces. These systems consist of photovoltaic (PV) panels, batteries for energy storage, light-emitting diode (LED) lamps, and control units that manage power consumption. Applications for solar streetlights include urban roads, highways, parks, alleyways, residential areas, parking lots, commercial zones, industrial parks, and remote rural regions where grid connectivity is limited. The increasing demand for clean energy is due to rising environmental concerns with growing government investments in sustainable infrastructure projects involving renewable energy sources such as solar power. Additionally, governmental initiatives promoting the use of renewable energy technologies, such as LED-based solar streetlights, have led to increased adoption rates among municipalities and private sectors. High initial costs of installation for solar street lighting are expected to hamper market growth. Furthermore, technological advancements in PV cells to increase efficiency levels at reduced costs, which could result in higher adoption rates across various sectors, are expected to create opportunities for the market.

Regional Insights

The Americas have witnessed a substantial increase in the demand for solar street lighting solutions driven by strong government initiatives favoring renewable energy adoption. North America, primarily the United States and Canada, has been at the forefront of implementing solar-powered public lighting systems. In Europe, countries such as Germany, France, Italy, and Spain are among the key players with substantial investments in sustainable infrastructure development projects that include solar-powered streetlight installations. Middle Eastern countries such as UAE and Saudi Arabia, which boast high levels of sunlight exposure throughout the year, offer immense potential for growth in this sector despite currently holding a smaller market share than Europe or America. African countries, including Nigeria and South Africa, have begun adopting renewable energy initiatives due to growing population density in urban areas coupled with increasing electricity demands, which have posed challenges for their existing grid infrastructures. The Asia-Pacific region is experiencing the highest growth rate in the solar street lighting market due to rapid urbanization, increasing focus on energy efficiency, and supportive government policies. China has adopted various measures to promote renewable energy sources, including aggressive solar installation targets.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Solar Street Lighting Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Government support and initiatives for solar street lighting
• Preference for energy-efficient and low carbon-footprint outdoor lighting
• Replacement activities of street lights across motorways, roads, and other public spaces

Market Restraints

• High initial investment required when compared to traditional lights

Market Opportunities

• Advancements in design & technologies of solar street lighting
• Proliferating deployment of solar lighting in smart cities

Market Challenges

• Concerns associated with extreme weather and non-availability of direct sunlight

Market Segmentation Analysis

• Lighting Source: Increasing preference for LED higher energy efficiency, longer life span
• Type: Expansion of standalone solar street lighting systems due to lower initial costs and simpler installation process
• Deployment: Significant popularity of off-grid solar street lights for ease of installation, and enhanced security
• Application: Growing usage of solar street lightings in the commercial sector to growing infrastructural development activities

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Solar Street Lighting Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Solar Street Lighting Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

AGC Lighting Co., Ltd. Launches ST57 Solar LED Street Light for Eco-Friendly Lighting

AGC Lighting Co., Ltd. has introduced the ST57 solar LED street light, which aims to reduce reliance on conventional energy sources while minimizing energy consumption and environmental pollution. This product offers a quick and hassle-free installation process, requiring minimal maintenance. It consists of two components - the fixture head and the solar panel, ensuring improved efficiency.

WindStream Energy Technologies Launches Hybrid Wind-Solar Street Light System

WindStream Energy Technologies, a company based in Telangana, has developed a hybrid wind-solar-powered LED street light system. This innovative system surpasses the energy production of traditional solar street lights, consisting of solar modules, a wind turbine, backup batteries, a controller, and an LED light.

Signify N.V. Launches its First Philips Solar Light Hub in India

Signify N.V. has unveiled the 'Philips Solar Light Hub' in India, a retail store dedicated to promoting the use of solar lighting products. This flagship store, spanning an area of 600 sq ft, showcases over 100 solar lighting products, providing customers with a hands-on experience.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Solar Street Lighting Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Solar Street Lighting Market, highlighting leading vendors and their innovative profiles. These include Anhui Longvolt Energy Co. Ltd., BISOL Group d.o.o., BM Sunpower Technologies, Bridgelux Inc., Covimed Solar Group, Dragons Breath Solar, Fevino Industries, G Solar, Hi-Power Electronics, Ignite Electronics, Jai Sunlight Systems, Jiangsu Sokoyo Solar Lighting Co. Ltd., Koninklijke Philips N.V., Nessa.in, Omega Solar, Orion Energy Systems Inc., SOKOYO Solar Group, Solar Lighting International Inc., Solar Street Lights USA, Solektra, Solmitra Power & Steel Pvt Ltd, Sunna Design SA, Tata Power Solar Systems Limited, Urja Global Ltd, and Zhuhai Bomin Solar Technology Co. Ltd..

Market Segmentation & Coverage

This research report categorizes the Solar Street Lighting Market to forecast the revenues and analyze trends in each of the following sub-markets:

Lighting Source

Compact Fluorescent Lamps

Light Emitting Diode

Type

• Grid Connected
• Standalone
• Deployment
• Off-gird
• On-grid

Application

• Commercial
• Industrial
• Residential

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year