Top Factors That Are Leading The Demand Around The Globe 2029

Rapid growth in urbanization & rise in need for a sustainable infrastructure have played a major role in driving the growth of the solar street lighting market.

PORTLAND, OREGON, UNITED STATES, April 4, 2022 /EINPresswire.com/ — The Asia-Pacific region is leading the solar street lighting market, owing to extensive progress and urbanization in the emerging economies such as India and China. Furthermore, growth of the market in regions such as North America and Europe is anticipated to be steady in the near future, owing to surge in number of smart city projects and rise in usage of renewable sources of energy in the region.

Rapid growth in urbanization and rise in need for a sustainable infrastructure have played a major role in driving the growth of the global solar street lighting market. Stringent government regulations imposed toward carbon emission and surge in demand for newer solar technologies have driven the growth of the market. Being completely independent of the electrical grids, the operation cost of these lights is minimum. Moreover, these lights require less maintenance as compared to conventional street lights. Moreover, as there is no external wiring, the risk of accidents is minimized.

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Solar street lights are majorly applicable in residential and commercial areas. Presently, various initiatives are being taken by the government and also by the local civic authorities for using the solar street lights as the lighting solutions for streets, roadways, and various other public and commercial establishments. Moreover, these solar lights serve as an ideal option for lighting across off grid as well as remote areas. With growing environmental awareness, governments of various nations are implementing favorable regulations to promote the use of renewable sources of energy, thereby boosting the demand for solar street light. Thus, all these factors have collectively contributed toward the growth of the global market.

Top companies covered in the solar street lighting market report are Philips Lighting Holding B.V., VerySol GmbH, Bridgelux Inc., Omega Solar, Dragons Breath Solar, Bajaj Electricals And Zumtobel AG, Sol Inc., Urja Global Ltd., and SOKOYO Solar Group.

COVID-19 scenario analysis

The outbreak of the COVID-19 pandemic has impacted the global solar street lighting market to a notable extent.

Owing to the implementation of lockdown across different countries and restrictions on both national and international transportation, the supply chain of the industry is massively affected. The supply of major parts such as the solar panels, photovoltaic cells, batteries, CFL, or LED lamps has been significantly reduced, thereby declining the production capacity of the industry and affecting the maintenance of the working units.

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Key segments covered

By Luminaries
Light Emitting Diode (LED)
Compact Fluorescent Lamps (CFL)

By Type
Standalone
Grid Connected

By Application
Industrial
Residential
Commercial

By Region
North America (U.S. and Canada)
Europe (Germany, UK, France, and the Rest of Europe)
Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East &Africa

Key benefits of the report

This study presents the analytical depiction of the global solar street lighting industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global solar street lighting market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the global solar street lighting market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

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