The global Solar LED Street Lighting Market is forecasted to be worth USD 13.89 Billion by 2027, according to a new report by Emergen Research. The solar LED street lighting market is anticipated to grow significantly owing to the growing need for energy-efficient lighting systems and the rising integration of the IoT with lighting systems. The increase in energy usage globally is another factor for the substantial growth in the global solar LED street lighting market.
In June 2019, Signify N.V. was installed 20 Philips SunStay solar street lights in Infanta Elena Park in Seville, Spain, in one housing, these solar lights have an integrated solar panel, luminaire, charge controller, and battery. These lights are also compact and easy to assemble and require less maintenance.
The increasing government initiative to implement smart grid and smart city, rising adoption of IoT and the growing use of energy-saving lighting systems are driving the demand for the market.
Solar LED Street Lighting Market Size – USD 5.60 billion in 2019, Market Growth - CAGR of 13.4%, Market Trends – The rise in the Smart Solar Street Lighting popularity.
Due to certain government influence, such as feed-in tariff and net metering, the grid-connected system is anticipated to witness significant growth over the forecast timeframe.
Due to the advantages, such as less maintenance, uniform mounting, long service life, ecofriendly, and no RF interference, the light pole segment is expected to dominate the market with a CAGR of 13.4%.
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Key participants include Su-Kam Power Systems Ltd., Sunna Design Inc., Dragon's Breath Solar, Bridgelux, Inc., Greenshine New Energy LLC, Signify Holding B.V., Solar Lighting International Inc, Anhui Longvolt Energy Co. Ltd., BISOL Group, d.o.o., and Orion Solar among others.
Product Outlook (Revenue, USD Billion; 2017-2027)
Grid Connected
Standalone
Component Outlook (Revenue, USD Billion; 2017-2027)
Solar Cell
Light Pole
LED lamps
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Residential
Industrial
Commercial
Exhaustive coverage of the COVID-19 impact on the Solar LED Street Lighting industry is a major attraction of the report. The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism. It assesses the present market scenario and forecasts the pandemic’s aftermath in this business sector to help organizations boost their COVID-19 preparedness. The market intelligence report takes a closer view of the global market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities. The report clearly defines the Solar LED Street Lighting market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Solar LED Street Lighting industry.
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By Regions:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Radical Highlights of the Solar LED Street Lighting Market Report:
Comprehensive overview of the Solar LED Street Lighting market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Solar LED Street Lighting market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
The Global Solar LED Street Lighting Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
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