This report provides exclusive insights into the COVID-19 impact on the Solar Street Lighting Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Solar Street Lighting Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Solar Street Lighting Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on solar street lighting market provides an in-depth analysis of segments and sub-segments in global as well as regional solar street lighting market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional solar street lighting market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global solar street lighting market. According to the report the global solar street lighting market is projected to grow at a CAGR of 23.7% over the forecast period of 2018-2024.
Solar street lighting is the lighting solution operates on the sun’s energy. These street lights provide high-quality illumination for indoor and outdoor applications. The solar street lighting system contains photovoltaic panels that charge the rechargeable battery connected to the fluorescent or LED lamp. In the solar street lightening system, Most of the solar panels turn on and turn off automatically by sensing outdoor light using a light source.
Various government and associations are taking the initiative to adopt sustainable energy sources to provide eco-friendly and energy saving solutions. The rising demand for eco-friendly sustainable energy applications drives the growth of the solar street lighting market. The solar street lighting is able to provide high-quality, clear lighting with considerable energy savings in an eco-friendly way that is likely to boost the growth of solar street lightening market. The solar street lighting system also offers the improved color rendering and slower depreciation than traditional street lights which in turn, drives the demand for solar street lighting products. Moreover, the reduction of cost of various solar street lighting components including LED, CFL, and others are contributing to the growth of the solar street lighting market. The rising consumer's inclination towards the eco-friendly and renewable and energy saving solutions are projected to create several opportunities for the solar street lighting market in upcoming years.
Regionally, North America to hold the largest market share in the solar street lighting market owing to the Rising demand for enhanced energy management coupled with rising solar energy installations. In addition, Asia-Pacific is the fastest growing region in the solar street lighting market. The governments of various countries in the Asia-Pacific region promotes the adoption of solar systems for the various application that drives the growth of the solar street lighting market in the Asia-Pacific region
The report on global solar street lighting market covers segments such as lighting source and applications. On the basis of lighting source the global solar street lighting market is categorized into compact fluorescent lamps(CFL) and light emitting diode (LED). On the basis of applications, the global solar street lighting market is categorized into commercial, industrial and residential.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global solar street lighting market such as Philips Lighting, VerySol GmbH, Omega Solar, Solektra International, SOKOYO Solar Group, Solar Street Lights USA, Urja Global Ltd, Sol, Inc., Bridgelux, and Dragons Breath Solar.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global solar street lighting market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of solar street lighting market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the solar street lighting market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the solar street lighting market to understand the present and future trends in this market and formulate their strategies accordingly.