Transparency Market Research has released a new
market report titled “Solar Street Lighting Market - Global
Industry Analysis, Size, Share, Growth Trends, and Forecast, 2016 -
2024.” According to this report, the global solar street lighting
market revenue stood at US$ 2.72 Bn in 2015 and is projected to reach
US$ 17.78 Bn by 2024 at a CAGR of 23.23% from 2016 to 2024.
Solar street lighting is one of the best renewable
energy based technologies to power street lights both in grid-based
and off-grid systems. The component used for solar street light are
solar pane, lighting fixture, controller, rechargeable battery, and
pole. Due to their dependency on sunlight, the lighting unit needs to
be installed in a shadow-free area or a place where direct sunlight
is available throughout the day to sufficiently charge the batteries
for one working cycle.
This 166 page report gives readers a comprehensive
overview of the Solar Street Lighting market. Browse through 02 data
tables and 191 figures to unlock the hidden opportunities in this
market@
The standalone solar photovoltaic street lighting
system comprises of a re-chargeable lead acid battery for storage, PV
(photovoltaic) modules for charging the battery, light source
(Compact Fluorescent Lamps (CFL) and Light Emitting Diodes (LED),
suitable electronics for the operation of the tamp and safe charging
and discharging of the battery and mechanical hardware for fixing
these sub systems. These lighting systems are available either with
automatic dusk to dawn operation or with a pre-set timer. Tubular
Batteries provided with the solar street lighting system require
lower maintenance; have longer life and give better performance as
compared to pasted plate batteries used earlier. The solar
photovoltaic modules are reported to have a service life of 15-20
years.
The solar street lights are widely used in
residential (car parking, residential buildings, garden lawns and
others), commercial (highways, colonies, rural areas and others) and
industrial
Current market scenarios have prompted street light
manufacturers to look for alternatives that are efficient and provide
off-grid power solutions. This gives way to certain drivers that
boost the solar street lighting market. One of the most important
fundamentals involved with SSL is the fact that they provide a viable
solution to street lighting in any terrain, irrespective of whether
there is grid connectivity to that location or not. Secondly, they
reduce energy load on the economy leading to more fiscal savings for
the government as well as the taxpayers. Solar street lights also
give the benefit of having negligible maintenance cost, no wiring or
transformer costs as well as reduction in carbon footprint.
The Solar street lighting market can be broadly
segmented on the basis of types (Standalone and On Grid),
applications (Residential, Commercial and Industrial) and lighting
source (Compact Fluorescent Lamps (CFL) and Light Emitting Diodes
(LED)
Asia Pacific was the largest market for Solar Street
Lighting globally, accounting for 44% share in 2015. India was the
leader in terms of revenue realization from Solar Street Lighting,
followed by China, in 2015. Africa was the second-largest market for
solar street lighting in 2015. Kenya, South Africa, Ghana, and
Nigeria spearhead the solar street lighting market in Africa with
need for clean and reliable source of off-grid electricity. Europe
was the third-largest market for solar street lighting, in terms of
market share, in 2015. Germany and U.K were the leading countries
with highest revenue realization from solar street lighting in 2015.
The market in Africa is expected to witness significant growth in the
near future and would surpass the growth rate of Asia Pacific market
by 2018. This expected growth is the result of numerous initiatives
such as subsidies, campaigns, and different programs introduced by
the World Bank and International Finance Corporation to promote solar
street lighting products.
Get accurate market forecast and analysis on the
Solar Street Lighting market. Request a sample to stay abreast on the
key trends impacting this market@
The market in Africa is expected to expand at the
highest CAGR during the forecast period. Government policies, local
manufacturing, and demand for clean fuel off grid electricity would
drive the demand for solar street lighting in Africa.
Some of the key manufacturers of solar street
lighting are Philips Lighting Holding B.V., Omega Solar, Bridgelux,
Inc., Dragons Breath Solar, SOKOYO Solar Group, Solektra
International, Sunna Design, Urja Global Ltd., VerySol GmbH, Solar
Street Lights USA and Sol, Inc
The Solar Street Lighting market has been
segmented as follows:
Solar Street Lighting Market: By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Solar Street Lighting Market: By Type
- Standalone
- On Grid
Solar Street Lighting Market: By Application
- Residential
- Commercial
- Industrial
Solar Street Lighting Market: By Lighting Source
- Compact Fluorescent Lamps (CFL)
- Light Emitting Diode (LED)
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