Solar Street Lighting Market, By Product Type (Compact fluorescent lamps (CFL) and Light-emitting diode (LED)), By Connection Type (Standalone and Grid Connected), By End User (Commercial, Residential, and Industrial), By Geography (North America, Latin A
Solar Street Lighting Market, By Product Type (Compact fluorescent lamps (CFL) and Light-emitting diode (LED)), By Connection Type (Standalone and Grid Connected), By End User (Commercial, Residential, and Industrial), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)
The global solar street lighting market has been witnessing significant growth in recent years. With growing concerns around climate change and focus on renewable energy sources, many countries and municipalities are actively promoting the adoption of solar street lighting solutions. Solar street lights utilize photovoltaic panels to convert sunlight into electricity during the day which can then power LED lights at night. They provide a convenient and environment-friendly alternative to traditional street lighting powered by electricity grids. The key advantage of solar street lights is that they do not require wiring or grid connectivity for operation. With continuous decline in prices of solar PV modules and batteries, they have become a cost-effective option for lighting streets, sidewalks, and other outdoor areas especially in remote locations without access to electricity networks.
Market Dynamics:
The global solar street lighting market is driven by favorable government policies and subsidies promoting renewable energy solutions. Many governments globally have formulated policies aimed at replacing conventional street lights with clean and sustainable solar-powered alternatives. Declining LED and battery costs along with improving conversion efficiency of solar panels is further expanding the potential of these systems. However, high initial installation costs remain a key challenge limiting widespread adoption of solar street lights especially in urban areas. Moreover, lack of standardization and technical expertise is hindering market growth in some regions. On the other hand, growing off-grid electrification needs in rural communities across developing nations presents significant opportunities for solar street light vendors. Ongoing technology innovations enhancing design, energy storage and illumination characteristics also offer new opportunities.
Key Features of the Study:
This report provides in-depth analysis of the global solar street lighting market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global solar street lighting market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include VerySol Inc., Solar Street Lights USA, Dragons Breath Solar, Urja Ltd., Solektra International LLC, Bridgelux Inc., SOKOYO Solar Group, Sunna Design, Sol Inc., Signify Holding, Omega Solar, SolarOne Solutions Inc., Hitechled, Fevino Industries LLP, Systellar, Wolta Power System, SunMaster, Wipro Lighting, Swami Energy, and Sunrise Solar
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global solar street lighting market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Detailed Segmentation-
By Product Type:
Compact fluorescent lamps (CFL)
Light-emitting diode (LED)
By Connection Type:
Standalone
Grid Connected
By End User:
Commercial
Residential
Industrial
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Company Profiles:
VerySol Inc.
Solar Street Lights USA
Dragons Breath Solar
Urja Ltd.
Solektra International LLC
Bridgelux Inc.
SOKOYO Solar Group
Sunna Design
Sol Inc.
Signify Holding
Omega Solar
SolarOne Solutions Inc.
Hitechled
Fevino Industries LLP
Systellar
Wolta Power System
SunMaster
Wipro Lighting
Swami Energy
Sunrise Solar
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Product Type
Market Snippet, By Connection Type
Market Snippet, By End User
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
PEST Analysis
PORTER’s Five Forces Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Connection Type Trend
4. Global Solar Street Lighting Market - Impact of Coronavirus (COVID-19) Pandemic
Overview
Factors Affecting the Global Solar Street Lighting Market
Impact Analysis
5. Global Solar Street Lighting Market, By Product Type, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2020-2031
Segment Trends
Compact fluorescent lamps (CFL)
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
Light-emitting diode (LED)
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
6. Global Solar Street Lighting Market, By Connection Type, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
Standalone
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
Grid Connected
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
7. Global Solar Street Lighting Market, By End User, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2020-2031
Segment Trends
Commercial
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
Residential
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
Industrial
Market Share Analysis, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, 2019-2031
Segment Trends
8. Global Solar Street Lighting Market, By Region, 2019-2031, (US$ Bn)
Introduction
Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
Y-o-Y Growth Analysis, For Region, 2020 - 2031
North America
Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
Y-o-Y Growth Analysis, For Region, 2020 - 2031
Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
U.S.
Canada
Latin America
Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
Y-o-Y Growth Analysis, For Region, 2020 - 2031
Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
Y-o-Y Growth Analysis, For Region, 2020 - 2031
Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe
Asia Pacific
Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
Y-o-Y Growth Analysis, For Region, 2020 - 2031
Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Middle East & Africa
Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
Y-o-Y Growth Analysis, For Region, 2020 - 2031
Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
GCC Countries
Israel
Rest of Middle East & Africa
9. Competitive Landscape
Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
VerySol Inc.
Company Overview
Product Type Portfolio
Recent Developments/Updates
Solar Street Lights USA
Company Overview
Product Type Portfolio
Recent Developments/Updates
Dragons Breath Solar
Company Overview
Product Type Portfolio
Recent Developments/Updates
Urja Ltd.
Company Overview
Product Type Portfolio
Recent Developments/Updates
Solektra International LLC
Company Overview
Product Type Portfolio
Recent Developments/Updates
Bridgelux Inc.
Company Overview
Product Type Portfolio
Recent Developments/Updates
SOKOYO Solar Group
Company Overview
Product Type Portfolio
Recent Developments/Updates
Sunna Design
Company Overview
Product Type Portfolio
Recent Developments/Updates
Sol Inc.
Company Overview
Product Type Portfolio
Recent Developments/Updates
Signify Holding
Company Overview
Product Type Portfolio
Recent Developments/Updates
Omega Solar
Company Overview
Product Type Portfolio
Recent Developments/Updates
SolarOne Solutions Inc.
Company Overview
Product Type Portfolio
Recent Developments/Updates
Hitechled
Company Overview
Product Type Portfolio
Recent Developments/Updates
Fevino Industries LLP
Company Overview
Product Type Portfolio
Recent Developments/Updates
Systellar
Company Overview
Product Type Portfolio
Recent Developments/Updates
Wolta Power System
Company Overview
Product Type Portfolio
Recent Developments/Updates
SunMaster
Company Overview
Product Type Portfolio
Recent Developments/Updates
Wipro Lighting
Company Overview
Product Type Portfolio
Recent Developments/Updates
Swami Energy
Company Overview
Product Type Portfolio
Recent Developments/Updates
Sunrise Solar
Company Overview
Product Type Portfolio
Recent Developments/Updates
10. Analyst Recommendation
Wheel of Fortune
Analyst View
Coherent Opportunity Map
11. Section
References
Research Methodology
About Us and Sales Contact
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