• Thu. Jul 29th, 2021

Solar Street Lighting Market Outlook By Size, Demand Status Of Type, Applications And Future Forecast

Byprajneesh

Dec 13, 2020
Automotive Aluminum Market

Global solar street lighting market is estimated to reach $10,805.3 million market size by 2023. High demand for efficient and renewable source of lighting for streets, and increasing government support worldwide are the major factors responsible for significant growth in the global solar street lighting market, which is forecasted for 21.2% CAGR during 2017 – 2023.

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This market research report provides a comprehensive overview of the solar street lighting market

  • Historical and the present size of the solar street lighting market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential

As per the findings of the research, standalone type held larger share of solar street lighting market as compared to the on-grid type. The designers of these lights have been searching for more efficient and heat resistant design solutions for these lights. The surging urbanization in developing countries has been leading to the rise in demand for energy, and governments of various countries are supporting eco-friendly methods of producing energy.

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Market Dynamics

Trends

4.3.1.1 Growing popularity of smart solar street lighting

Drivers

4.3.2.1 Reliable source of light

4.3.2.2 Decline in price of solar panels

4.3.2.3 Increasing number of smart cities

4.3.2.4 Rising infrastructure development

4.3.2.5 Impact analysis of drivers on market forecast

Restraints

4.3.3.1 Penetration of counterfeit LED products

4.3.3.2 Effect of COVID-19 outbreak

4.3.3.3 Impact analysis of restraints on market forecast

Opportunities

4.3.4.1 Increasing urbanization in developing regions

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