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Global Solar Street Lighting Market Share, Size, Trends, Analysis, Growth, Forecast: By Product Type: CFL, LED; By Connection Type: Standalone, Grid Connected; By End Users: Residential, Commercial, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Solar Street Lighting Market Outlook
The global solar street lighting market size reached a value of around USD 5.78 billion in 2022. The market is expected to grow at a CAGR of 16.40% between 2023 and 2028.
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Key Trends in the Market
Solar street lighting is a lighting system that utilises photovoltaic technology for converting sunlight into electricity. It does not use power from grid infrastructure and is extensively used to illuminate parks, roads, streets, and lawns, among others. The usage of solar street lighting is associated with several benefits, such as reduced costs, enhanced efficiency, ease of installation, and decreased dependency on the grid.
- In both developing and developed countries, governments are promoting the adoption of solar street lighting solutions owing to their various benefits, including affordability, eco-friendliness, and low maintenance, among others. In addition, governments in developing countries are increasingly installing solar street lights for providing optimal illumination in areas prone to power outages.
- Some of the most significant solar street lighting market trends include the increasing exploration of renewable energy sources, the rising demand for energy, the increasing focus to boost public safety, and the surging trend of sustainability amid growing environmental concerns.
- There is an increasing use of solar street lighting solutions as a reliable and cost-effective alternative to electrically powered street lights. As the focus on reducing carbon emissions and driving sustainability is surging, installations of solar street lighting systems are anticipated to rise.
- Various leading companies are increasingly launching innovative and high-performance solar street lights that offer excellent luminous efficacy, high charging efficiency, and enhanced durability in harsh environmental conditions.
- Several solar street lighting systems are integrated with advanced sensor technologies that enable them to rapidly respond to the surroundings and save energy.
Solar Street Lighting Market Analysis
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Based on product type, the market can be segmented into CFL and LED. By connection type, the market is divided into standalone and grid connected. On the basis of end users, the market is classified into residential, commercial, and industrial. The regional markets for solar street lighting can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global solar street lighting market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Signify N.V.
- Leadsun
- Jiangsu Sokoyo Solar Lighting Co., Ltd.
- Nomo Group Co. Ltd
- Dragons Breath Solar Ltd.
- Sunna Design SA
- Others
Market Share by Product Type
There is a growing demand for solar LED street lights owing to their low energy consumption, durability, bright light emission, zero UV emissions, and sustainability, among others. With the increasing demand for enhanced illumination in outdoor spaces at an affordable price, various manufacturers are developing innovative solar street lights with inbuilt high-lumen LED bulbs, dusk-to-dawn sensors, and high-efficiency solar panels and solar charge controllers, among others, thereby bolstering the overall solar street lighting market growth.
The availability of solar LED street lights in various styles, shapes, and sizes is significantly rising. Moreover, governments across the globe are focusing on boosting sustainability, which is anticipated to surge the adoption of solar LED street lights offering high energy efficiency, low installation costs, efficient charging, and self-autonomy, among others.
Meanwhile, the utilisation of solar CFL street lighting for illuminating squares, crossroads, and streets in remote areas is surging. Solar CFL street lights offering weather resistance, enhanced transparency, minimal lumen output loss, and automated controllers are increasingly used in various applications in the residential, industrial, and commercial sectors.
Market Share by Region
The Asia Pacific region accounts for a significant solar street lighting market share owing to the growing usage of green and renewable energy in the region. The rapid urbanisation and industrialisation and the rising energy demands in the region are surging the utilisation of solar energy as a cost-effective and sustainable energy source, hence driving installations of solar street lighting solutions.
With the high prevalence of power outages in emerging economies of the region, governments are increasingly exploring sustainable power generation sources and utilising solar-based street lighting systems for illumination applications. The growing focus on regional developments in countries like China, India, and Indonesia, among others, is surging the installation of solar street lighting systems due to their excellent illumination, enhanced stability and durability, and high lumen output, among others.
Meanwhile, the solar street lighting market in Europe is expected to grow over the forecast period due to the rapid shift from fossil fuel-based energy sources and the increasing trend of sustainability. The energy crisis due to socioeconomic factors in the region is also fuelling the adoption of solar street lights. Several European countries are also installing energy-efficient and effective solar street lights for reducing greenhouse gas emissions and overall energy consumption.
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Competitive Landscape in the Global Solar Street Lighting Market
Signify N.V. is a leading lighting company that offers high-quality systems, services, and products to customers. Its innovative data-enabled and connected lighting systems are extensively used in buildings, homes, as well as public spaces. Through its R&D activities in LED lighting, it aims to unlock the potential of light for creating a sustainable world. Moreover, the company actively partners with institutions, universities, and start-ups to drive innovation in the lighting sector.
Leadsun, one of the major solar street lighting companies, manufactures innovative solar powered LED lights. It has research institutes and branches in the United States, Australia, and Malaysia. The company’s high-performance and reliable solar lighting systems are used in more than 100 countries around the world. Through its innovative product portfolio, the company aims to offer easy-to-install and intelligent solar lighting solutions to customers.
Jiangsu Sokoyo Solar Lighting Co., Ltd. Is a Chinese company that is focused on developing, producing, and designing solar street lighting solutions. Its innovative product portfolio finds usage in highways, small areas, city roads, and residential area country roads, among others. The company also offers various services, including scenario simulation testing, preliminary project design, proposal, wind resistance rating design, and optimisation to its customers. Its solutions have been used in several projects across the globe.
Other solar street lighting market players include Nomo Group Co. Ltd, Dragons Breath Solar Ltd., and Sunna Design SA, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Connection Type |
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| Breakup by End Users |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Solar Street Lighting Market Analysis
8.1 Key Industry Highlights
8.2 Global Solar Street Lighting Historical Market (2018-2022)
8.3 Global Solar Street Lighting Market Forecast (2023-2028)
8.4 Global Solar Street Lighting Market by Product Type
8.4.1 CFL
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 LED
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Solar Street Lighting Market by Connection Type
8.5.1 Standalone
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Grid Connected
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Solar Street Lighting Market by End Users
8.6.1 Residential
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Commercial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Industrial
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global Solar Street Lighting Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Solar Street Lighting Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Solar Street Lighting Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Solar Street Lighting Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Bangladesh
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Solar Street Lighting Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Mexico
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Argentina
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Solar Street Lighting Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 South Africa
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 Nigeria
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Signify N.V.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Leadsun
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Jiangsu Sokoyo Solar Lighting Co., Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Nomo Group Co. Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Dragons Breath Solar Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Sunna Design SA
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Solar Street Lighting Market: Key Industry Highlights, 2018 and 2028
2. Global Solar Street Lighting Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global Solar Street Lighting Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Solar Street Lighting Historical Market: Breakup by Connection Type (USD Billion), 2018-2022
5. Global Solar Street Lighting Market Forecast: Breakup by Connection Type (USD Billion), 2023-2028
6. Global Solar Street Lighting Historical Market: Breakup by End User (USD Billion), 2018-2022
7. Global Solar Street Lighting Market Forecast: Breakup by End User (USD Billion), 2023-2028
8. Global Solar Street Lighting Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Solar Street Lighting Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Solar Street Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Solar Street Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Solar Street Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Solar Street Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Solar Street Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Solar Street Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Solar Street Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Solar Street Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Solar Street Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Solar Street Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Solar Street Lighting Market Structure
Key Questions Answered in the Report
In 2022, the market attained a value of around USD 5.78 billion.
The market is being aided by the increasing awareness regarding the benefits of solar street lighting, the growing focus on improving public safety by governments, and the rising demand for solar LED street lighting.
The market is anticipated to be propelled by the rising trend of sustainability, the development of advanced solar street lighting systems, and the growing energy demand.
The major regional markets of solar street lighting are Europe, North America, the Middle East and Africa, the Asia Pacific, and Latin America.
The market is estimated to grow at a CAGR of 16.40% between 2023 and 2028.
Some of the disadvantages associated with solar energy include high initial investments, dependency on location and weather, and pollution during manufacturing, installation, and transportation of solar power systems, among others.
The major product types of solar street lighting include CFL and LED.
The significant solar street lighting connections are standalone and grid connected.
Residential, commercial, and industrial are the various end users of solar street lighting.
Solar street lighting solutions are sustainable, durable, reliable, cost-effective, highly efficient, and low maintenance. They are self-sustainable and self-powered units and do not require manual intervention, which is surging their use in industrial, residential, and commercial applications.
The key market players include Signify N.V., Leadsun, Jiangsu Sokoyo Solar Lighting Co., Ltd., Nomo Group Co. Ltd, Dragons Breath Solar Ltd., and Sunna Design SA, among others.
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