Market to chart Compound Annual Growth Rate of 16.24% over the forecast period
Asia Pacific to be a lucrative regional market; Brazil to record notable growth in Latin American region
Growing need to shift towards renewable energy sources contributing to increase in adoption of solar street lighting
ALBANY, New York, March 24, 2020 /PRNewswire/ -- From the year 2019 to that of 2027, the global solar street lighting market would chart a stellar growth rate of 16.24%. And, this is set to help the market witness multiple opportunities line-up its vendor landscape, an opportunity that many players would hustle to make the most of.
As per Transparency Market Research, "The global solar street lighting market would see its worth reach a valuation of USD 12.54 bn. by the end of the forecast period. It would be a notable increase for USD 3.76 bn. in the year 2018."
Key Drivers of Global Solar Street Lighting Market:
As per Transparency Market Research, a number of growth factors are pushing the global solar street lighting market on a high growth curve, particularly over the forecast period. A glimpse into these trends and drivers is provided below:
Governments across the globe are taking steps to promote development and use of renewable energy
There is gradual shift noted from conventional to renewable energy sources, owing to the former's limited availability and negative environmental impact
People all across the world are now more aware of their choices and are readier than ever to take proper steps in the right direction
Countries like Spain and India recently started work on installation projects for solar powered street lights in Infanta Elena Park, and states like Uttar Pradesh, and Bihar, respectively
Regional Analysis of Global Street Lighting Market:
Asia Pacific to dominate growth in the global solar street lighting market
Government initiative to drive the APAC market forward over the assessment period
In Latin America, new opportunities to emerge as investment in the field increases in certain countries
Brazil to be a prominent contributor of growth in the Latin American market owing to increasing investments and large-scale programs initiated towards this end
Analyze solar street lighting market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of Global Street Lighting Market:
The global street lighting market is highly competitive and the players that are prominent include Sol Inc., Solar Street Lights USA, Bridgelux Inc., Dragons Breath Solar, VerySol GmbH, Solektra International, Urja Global ltd., Omega Solar, Phillips Lighting Holding BV, SOKOYO Solar Group, and Sunna Design, among others.
It is important to note here that the market is fragmented and over the forecast period, it will witness further fragmentation, as more and more players enter the fray in order to carve off a slice of the projected growth.
Global Solar Street Lighting Market: Research Scope
Global Solar Street Lighting Market: by Lighting Source
Compact Fluorescent Lamps (CFL)
Light Emitting Diode (LED)
Global Solar Street Lighting Market: by Type
Global Solar Street Lighting Market: by Application
Global Solar Street Lighting Market: by Region
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Rest of MEA
Explore Transparency Market Research's award-winning coverage of the global Energy and Natural Resources Industry,
On-Site Hydrogen Generator Market - The opportunity in the U.S. on-site hydrogen generator market is expected to be US$ 191.4 Mn by 2027 from US$ 121.3 Mn in 2018, surging at a steady pace of 5.2% between 2019 and 2027.
Stationary Fuel Cell Market - The global stationary fuel cell market is set to grow at a robust pace over the forecast period of 2019 - 2027, as high efficiency and minimal-to-zero emission of GHG are being targeted globally, leading to stationary fuel cells gaining traction in commercial and industrial sectors.
Bunker Fuel Market - The bunker fuel market is expected to grow at a sluggish CAGR of ~2.5% during the forecast period. Some of the factors that are expected to fuel market growth include a significant rise in demand for marine diesel oil and steady adoption of low-sulfur fuel oils.
Artificial Lift Systems Market - Rise in number of mature fields and aging oil & gas wells is estimated to boost the demand for artificial lift systems market during the forecast period.
Biogas Market - The global biogas market is scheduled to expand at a considerable CAGR of 6.62% in terms of volume, within a forecast period from 2019 to 2027. The biogas market recorded 28,989.86 kilo tons of oil equivalent (KTOE) in 2018, which is likely rise up to 51,581.99 KTOE by the end of 2027.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.