“Solar Street Lighting Market spending will reach US$ 29.30 billion by the middle of 2030”, says Visiongain

30 September 2019
Energy

This latest report by business intelligence provider Visiongain assesses that Solar Street Lighting Market spending will reach US$ 29.30 billion by the middle of 2030. The worldwide Solar Street Lighting Market is anticipated to grow at a CAGR of 21.4 ##fold over the 2020 and 2030 prediction era. Globally, the development of smart cities has been a main driver of market growth. Solar street lighting are the forms of light that are used prominently for outdoor lighting and use solar power as their primary energy source. Photovoltaic panels that are installed on an embedded platform power these lamps. With the increase in supply for ongoing energy in both emerging and advanced areas, the possibility of the market for street lighting is growing. Other elements such as technological developments in street lighting design have resulted in reduced solar lighting parts, making them an appropriate solution to traditional street lighting. The industry for solar street lighting is increasing with authorities of different areas promoting the construction of renewable street lighting. This aspect, as well as cost efficiency and solar heating devices ' environmentally friendliness, drives the industry. Other variables such as the high maintenance needed for the cost of solar lighting devices, together with the big original capital needed, restrict the general market growth.

The global solar street lighting industry has experienced several economic and technological innovations conducted by the various market players in the evolving domain to achieve their corresponding industry stocks over the previous five years. Some of the approaches taken by street lighting suppliers with renewable LED are expansions, fresh item releases, alliances, collaborations, contracts and agreements, and mergers & purchases. The social landscape has been dominated by associations and collaborations among all approaches to become the most commonly accepted approach by the main participants in the wind LED street lighting sector. The key market players in the global solar LED street lighting market are Signify Holding, Anhui Longvolt Energy Co. Ltd., Solar Electric Power Company, Su-Kam Power Systems Ltd., BISOL Group, d.o.o., Greenshine New Energy, Solar Lighting International, Solar G, Orion Solar, Solex Energy Limited, Dragons Breath Solar, Sol Inc., Bridgelux, Inc., Sunna Design SA, and Covimed Solar.

Global Economy Is Anticipated To Consume More Energy Resources In The Future

Smart technology's development method has significantly altered the general display sector in aspects of reducing power and cash, providing enhanced user security and comfort. Because of increasing energy demand from the developing countries, the global economy is anticipated to consume more energy resources in the future. Moreover, the threat of climate change connected with the use of fossil fuels has rendered it increasingly hard to produce energy. Several nations such as the United States, the United Kingdom, Germany, India, and China are opting for different techniques to reduce the amount of carbon dioxide in the atmosphere.

Even before electricity was first implemented, street lighting was in life. Prior to that, on the street ends, fire-based bulbs were installed. Several advances have been made in street lighting, rendering it an effective and cheap lamps technique. During the prediction era, the renewable LED street lighting industry is anticipated to expand significantly. Market growth can be ascribed to the growing requirement for energy-efficient lighting devices. Implementing the Internet of Things (IoT) with lasers is anticipated to boost the global acceptance of renewable LED lamps.

 

The demand for street lighting in residential solar energy will exceed 2,7 million installations by 2030. Increasing housing communities will promote company development along with low maintenance costs of these devices. The company landscape will be driven by rapid urbanization along with government-assisted building programs. The industry for industrial renewable street lighting is expected to see important development due to increased electricity generation on-site combined with sophisticated networking projects for intelligent command. Some of the key variables that will improve consumer acceptance are the increasing need for energy optimization and push towards sustainable manufacturing. Furthermore, incentivization, feed-in tariffs, net metering, and similar favourable reforms will further compliment the industry growth.

Global attempts to reduce greenhouse gas emissions across main financial industries will have a positive impact on the industry for renewable street lighting.

 Sustainable growth initiatives with minimal ecological effect will further boost consumer supply. In April 2016, in reaction to rising global temperatures, the Paris Climate Agreement was ratified under the United Nations Framework Convention on Climate Change (UNFCCC). By 2018, the contract was ratified by 195 nations and mandatory objectives for reducing emissions were announced.

Significant reductions in solar panel and battery costs are expected to substantially add to the development of the industry for solar street lighting. Some of the main fundamental variables that will boost consumer adoption are government subsidies, rising request for safe energy and growing economy of scale.

Demand for Greener Solutions Puts Commercial Segment at Forefront

Solar street lighting systems ' apps are seen in fields such as housing, commercial and industrial. Of these, it is estimated that the business sector will cause the worldwide industry to use solar lighting owing to increasing efforts by politicians and civil officials. Solar street lighting alternatives are currently being used on roads, roads and other business institutions. Analysts predict the worldwide led display market's business section to obtain a 64.2 percent stake by the beginning of 2030. Increasing supply for solar lighting in fields such as parking spaces, tracks, subways, perimeter security lighting, and government zone lighting has also increased this segment's development. Global residents ' increasing knowledge of the strain of using traditional lamp technologies has produced them switch to greener alternatives considerably.

 

Leading Regional & National Analysis

Asia Pacific was the world's biggest electric street lighting industry with a percentage of 42.3 percent in 2019. India was the income peak, strongly accompanied in 2019 by China. The Middle East and Africa, on the other side, were the second largest industry in the same year for electric street lighting. Kenya, South Africa, Ghana, and Nigeria are leading Africa's renewable street lighting industry with the need for smooth, credible off-grid power. Europe was fifth with Germany and the United Kingdom heading the requirement as the region is making a major transition to greener alternatives.

Analysts hope to see important development in the close future and exceed the Asia Pacific industry growth level by 2020. This anticipated development is the consequence of various projects such as grants, promotions and various programs implemented to support renewable street lighting goods by the World Bank and International Finance Corporation.

The U.S. industry is expected to develop by more than 14% by 2030. Growing supply for optimized energy management in combination with increasing solar power plants will increase the development of the sector. According to the United States Department of Energy, since November 2010, renewable employment in North America have escalated by 123 percent.

In 2019, China's industry stood at over USD 450 million. Significant development in shared electricity projects along with public efforts to foster sustainable energy assets will offer a beneficial boost to the country's market growth. The expansion of production equipment and the decreasing cost of the item will further complement the development of company.

Germany street lighting market is set to witness strong growth owing to integration of extensive distribution networks, regional expansion, development of new applications, and sale of powerful systems with higher cost margins. Significant progress towards renewable integration across the country will further boost the product penetration.

Leading Players

Anhui Longvolt Energy Co., Ltd.
Bisol
 Greenshine New Energy
  Solar Lighting International
Solar G
Orion Solar
Covimed Solar
Leadsun
Jinhua SunMaster Solar Lighting Co., Ltd.
Solar Electric Power Company (SEPCO)
Shenzhen Spark Optoelectronics S&T Co., Ltd.

Smart technology's development method has significantly altered the general display sector in aspects of reducing power and cash, providing enhanced user security and comfort. Because of increasing energy demand from the developing countries, the global economy is anticipated to consume more energy resources in the future. Moreover, the threat of climate change connected with the use of fossil fuels has rendered it increasingly hard to produce energy. Several nations such as the United States, the United Kingdom, Germany, India, and China are opting for different techniques to reduce the amount of carbon dioxide in the atmosphere.

Even before electricity was first implemented, street lighting was in life. Prior to that, on the street ends, fire-based bulbs were installed. Several advances have been made in street lighting, rendering it an effective and cheap lamps technique. During the prediction era, the renewable LED street lighting industry is anticipated to expand significantly. Market growth can be ascribed to the growing requirement for energy-efficient lighting devices. Implementing the Internet of Things (IoT) with lasers is anticipated to boost the global acceptance of renewable LED lamps.

The comprehensive report offers market estimation and forecast for the period ranging 2020-2030 for leading national markets and rest of the world. Moreover, the report contains dedicated leading companies covering 10 leading producers in the field of Solar Street Lighting.

The Solar Street Lighting Market Report 2020-2030 report will be of value to anyone who wants to better understand the Solar Street Lighting market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the Solar Street Lighting industry.

Visiongain is a trading partner with the US Federal Government
CCR Ref number: KD4R6

Do you have any custom requirements we can help you with? Any need for specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: sara.peerun@visiongain.com

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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