Solar LED Street Lighting Market Growth, Challenges, Opportunities And Emerging Trends 2020-2027

(MENAFN- iCrowdNewsWire) Solar LED Street Lighting Market Growth, Challenges, Opportunities And Emerging Trends 2020-2027
[...]


iCrowdNewswire   Jan 18, 2021  8:46 PM ET

Market Size USD 5.60 billion in 2019, Market Growth - CAGR of 13.4%, Market Trends The rise in the Smart Solar Street Lighting popularity.

 

The global Solar LED Street Lighting Market is forecasted to be worth USD 13.89 Billion by 2027, according to a new report by Emergen Research. The solar LED street lighting market is anticipated to grow significantly owing to the growing need for energy-efficient lighting systems and the rising integration of the IoT with lighting systems. The increase in energy usage globally is another factor for the substantial growth in the global solar LED street lighting market.

 

The industrial segment is anticipated to hold the largest market over the forecast period. Factors can be attributed to the increase of advanced smart control network companies and an increase in on-site generation of electricity that will boost the market growth. Furthermore, the technological advancements in sustainable production and increasing demand for better energy optimization are also expected to further propel segmental growth.

 

Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA

 

Click Here to Get Full PDF Sample Copy of Report@ [...]

 

Key Highlights From The Report

In June 2019, Signify N.V. was installed 20 Philips SunStay solar street lights in Infanta Elena Park in Seville, Spain, in one housing, these solar lights have an integrated solar panel, luminaire, charge controller, and battery. These lights are also compact and easy to assemble and require less maintenance.

Due to certain government influence, such as feed-in tariff and net metering, the grid-connected system is anticipated to witness significant growth over the forecast timeframe.

Due to the advantages, such as less maintenance, uniform mounting, long service life, ecofriendly, and no RF interference, the light pole segment is expected to dominate the market with a CAGR of 13.4%.

Over the forecast timeframe, the industrial sector is anticipated to hold the largest market due to the emergence of advanced sensor-based network firms, along with a rise in on-site energy production.

The commercial segment is expected to see significant market growth due to solar LED street lighting systems' benefits in commercial applications, including no wire theft, easy installation and maintenance, no wire laying operation or complex power facilities needed, and cost-saving.

During the forecast period, the Asia Pacific region is expected to hold the largest market with a CAGR of 13.7%. The increasing government initiative to use energy-efficient lighting technologies with decreased product cost and a growing number of manufacturing facilities. Market growth is anticipated to be further driven by the rise of solar projects, along with the demand for improved renewable energy systems.

Key participants include Su-Kam Power Systems Ltd., Sunna Design Inc., Dragon's Breath Solar, Bridgelux, Inc., Greenshine New Energy LLC, Signify Holding B.V., Solar Lighting International Inc, Anhui Longvolt Energy Co. Ltd., BISOL Group, d.o.o., and Orion Solar among others.

#Solar LED Street Lighting Market Report to grow your business needs: Now Purchase @ [...]

Product Outlook (Revenue, USD Billion; 2017-2027)

Grid Connected

Standalone

 

Component Outlook (Revenue, USD Billion; 2017-2027)

Solar Cell

Light Pole

LED lamps

 

End-Use Outlook (Revenue, USD Billion; 2017-2027)

Residential

Industrial

Commercial

 

Browse complete report description and visit our website @ [...]

 

Thank you for reading our report. For further information or queries about the report or customization options, please get in touch with us. We will ensure your report is tailored according to your requirements.

 

Related Reports;

Activated Carbon Market  Size Worth USD 14.07 Billion by 2027 Growing at a CAGR of 9.6% | Emergen Research

Cardiac Monitoring & Cardiac Rhythm Management Devices Market  To Be Worth USD 29.32 Billion by 2027 | Emergen Research

Neurostimulation Devices Market  To Reach USD 13.70 Billion by 2027 Growing at a CAGR of 12.6% | Emergen Research

Virtual Diagnostics Market  Size To Be Worth USD 1,512.2 Million by 2027 Growing at a CAGR of 15.0% | Emergen Research

Anti-Aging Devices Market  Size To Be Worth USD 14.22 Billion by 2027 | Emergen Research

Mobile Medical Apps Market  Size Worth USD 17.61 Billion by 2027 Growing at a CAGR of 22.9% | Emergen Research

Isoflavones Market  Size To Be Worth USD 45.22 Billion by 2027 Growing at a CAGR of 12.9% | Emergen Research

Farm Management Software and Services Market  To Be Worth USD 3,015.5 Million by 2027 | Emergen Research

MENAFN18012021003318003403ID1101453753