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Solar Street Lighting Market by Regional Outlook, Application, Share & Forecast, 2019-2024

Author : Rahul Sankrityayan | Published Date : 2019-03-28 

Global Market Insights, Inc. adds new solar street lighting market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

Global street lighting, which accounts for nearly 20% to 35% of the overall energy bill, displays a growing need for reducing power consumption. In addition to this, strict government norms regarding energy conservation coupled with stringent measures to curb greenhouse gas emissions is predicted to promote the solar street lighting market growth over the coming years. Moreover, depleting fossil fuels have contributed substantially to growing electricity costs and this has resulted in a need for finding alternative sources of energy.

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Furthermore, solar street lights can provide reliable, sustainable, and affordable power as compared to other conventional street lights. Decreasing costs of solar components along with favorable government initiatives such as tax concessions and subsidies on solar products are anticipated to support the market growth over the coming eight years. According to the Global Market Insights Inc.,"The Solar Street Lighting Market worth USD 2.9 billion in 2015, is predicted to surpass USD 15 billion by 2024, growing at a CAGR of 20% over the period of 2016-2024.

Key Highlights of this report:

Base Year: 2017

Growth Projections – 2018-2024

Historical data coverage: 2014 to 2018

Number of Pages – 455

Data Tables – 17

The U.S. solar street lighting market share worth USD 197 million in 2015, is predicted to witness a significant surge over the period of 2016-2024 due to stringent regulatory norms to reduce carbon emissions and promote energy savings. Nigeria solar street lighting market worth USD 164.14 million in 2015, is anticipated to witness a high growth over the period of 2016-2024 owing to the rising demand for electricity along with shifting focus towards the off-grid connections as a preferable source of energy. India solar street lighting market is forecast to grow at a CAGR of 19% on account of favorable government policies promoting the use of renewable sources of energy over the conventional street lighting sources.

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Solar street lighting finds varied set of applications in industrial, residential and commercial sectors. Its application in residential sector worth USD 630.8 million in 2015, is predicted to witness a noticeable surge over the period of 2016-2024 due to the lower maintenance costs of solar street lights coupled with government initiatives to build green buildings in the urban and industrial regions. Solar street lighting market in the commercial sector is predicted to grow at a CAGR of 20.23%, driven by strict regulatory norms to reduce carbon emissions along with the government support for an electrification program in rural regions. Solar street lighting market in the industrial sector is anticipated to grow at a rate of 18.90% over the period of 2016-2024 owing to reduction in power consumption that helps in minimizing the capital expenditure.

Solar Street Lighting Market Segmentation:

Chapter 4 Solar Street Lighting Market, By Product

4.1 Solar street lighting market share by product, 2017 & 2024

4.2 Standalone

4.2.1 Global market estimates and forecast from standalone, 2013 - 2024

4.2.2 Global market volume, by region from standalone, 2013 - 2024

4.2.3 Global market revenue, by region form standalone, 2013 - 2024

4.3 Grid-connected

4.3.1 Global market estimates and forecast from grid-connected, 2013 - 2024

4.3.2 Global market volume, by region from grid-connected, 2013 – 2024

4.3.3 Global market revenue, by region from grid-connected, 2013 - 2024

Chapter 5 Solar Street Lighting Market, By Luminaries

5.1 Solar street lighting market share by luminaries, 2017 & 2024

5.2 LED

5.2.1 Global market estimates and forecast from LED, 2013 - 2024

5.2.2 Global market estimates, by region from LED, 2013 - 2024

5.2.3 Global market estimates, by region from LED, 2013 - 2024

5.3 CFL

5.3.1 Global market estimates and forecast from CFL, 2013 - 2024

5.3.2 Global market estimates, by region from CFL, 2013 – 2024

5.3.3 Global market estimates, by region from CFL, 2013 – 2024

Chapter 6 Solar Street Lighting Market, By Application

6.1 Solar street lighting market share by application, 2017 & 2024

6.2 Residential

6.2.1 Global market estimates and forecast from residential, 2013 - 2024

6.2.2 Global market estimates, by region from residential, 2013 - 2024

6.2.3 Global market estimates, by region from residential, 2013 - 2024

6.3 Commercial

6.3.1 Global market estimates and forecast from commercial, 2013 - 2024

6.3.2 Global market estimates, by region from commercial, 2013 – 2024

6.3.3 Global market estimates, by region from commercial, 2013 – 2024

6.4 Industrial

6.4.1 Global market estimates and forecast from industrial, 2013 - 2024

6.4.2 Global market estimates, by region from industrial, 2013 – 2024

6.4.3 Global market estimates, by region from industrial, 2013 – 2024

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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