Solar Street Lighting Market, By Product Type (Compact fluorescent lamps and Light-emitting diode ), By Connection Type, By End User, By Geography

Description

The global solar street lighting market is estimated to be valued at USD 13.66 Bn in 2024 and is expected to reach USD 38.15 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.8% from 2024 to 2031.

Figure 1. Solar Street Lighting Market Share (%), By Region, 2024

The global solar street lighting market has been witnessing significant growth in recent years. With growing concerns around climate change and focus on renewable energy sources, many countries and municipalities are actively promoting the adoption of solar street lighting solutions. Solar street lights utilize photovoltaic panels to convert sunlight into electricity during the day which can then power LED lights at night. They provide a convenient and environment-friendly alternative to traditional street lighting powered by electricity grids. The key advantage of solar street lights is that they do not require wiring or grid connectivity for operation. With continuous decline in prices of solar PV modules and batteries, they have become a cost-effective option for lighting streets, sidewalks, and other outdoor areas especially in remote locations without access to electricity networks.

Market Dynamics:

The global solar street lighting market is driven by favorable government policies and subsidies promoting renewable energy solutions. Many governments globally have formulated policies aimed at replacing conventional street lights with clean and sustainable solar-powered alternatives. Declining LED and battery costs along with improving conversion efficiency of solar panels is further expanding the potential of these systems. However, high initial installation costs remain a key challenge limiting widespread adoption of solar street lights especially in urban areas. Moreover, lack of standardization and technical expertise is hindering market growth in some regions. On the other hand, growing off-grid electrification needs in rural communities across developing nations presents significant opportunities for solar street light vendors. Ongoing technology innovations enhancing design, energy storage and illumination characteristics also offer new opportunities.

Key Features of the Study:

This report provides in-depth analysis of the global solar street lighting market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global solar street lighting market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include VerySol Inc., Solar Street Lights USA, Dragons Breath Solar, Urja Ltd., Solektra International LLC, Bridgelux Inc., SOKOYO Solar Group, Sunna Design, Sol Inc., Signify Holding, Omega Solar, SolarOne Solutions Inc., Hitechled, Fevino Industries LLP, Systellar, Wolta Power System, SunMaster, Wipro Lighting, Swami Energy, and Sunrise Solar
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global solar street lighting market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Detailed Segmentation-

By Product Type:
- Compact fluorescent lamps (CFL)
- Light-emitting diode (LED)
By Connection Type:
- Standalone
- Grid Connected
By End User:
- Commercial
- Residential
- Industrial
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- VerySol Inc.
- Solar Street Lights USA
- Dragons Breath Solar
- Urja Ltd.
- Solektra International LLC
- Bridgelux Inc.
- SOKOYO Solar Group
- Sunna Design
- Sol Inc.
- Signify Holding
- Omega Solar
- SolarOne Solutions Inc.
- Hitechled
- Fevino Industries LLP
- Systellar
- Wolta Power System
- SunMaster
- Wipro Lighting
- Swami Energy
- Sunrise Solar

Product Code: CMI7030

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Connection Type
- Market Snippet, By End User
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Connection Type Trend

4. Global Solar Street Lighting Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Solar Street Lighting Market
Impact Analysis

5. Global Solar Street Lighting Market, By Product Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Compact fluorescent lamps (CFL)
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Light-emitting diode (LED)
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends

6. Global Solar Street Lighting Market, By Connection Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Standalone
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Grid Connected
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends

7. Global Solar Street Lighting Market, By End User, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Commercial
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Residential
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Industrial
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
Segment Trends

8. Global Solar Street Lighting Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
  - U.S.
  - Canada
Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East & Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Product Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Connection Type, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019- 2031, (US$ Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East & Africa

9. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- VerySol Inc.
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Solar Street Lights USA
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Dragons Breath Solar
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Urja Ltd.
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Solektra International LLC
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Bridgelux Inc.
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- SOKOYO Solar Group
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Sunna Design
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Sol Inc.
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Signify Holding
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Omega Solar
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- SolarOne Solutions Inc.
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Hitechled
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Fevino Industries LLP
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Systellar
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Wolta Power System
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- SunMaster
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Wipro Lighting
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Swami Energy
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates
- Sunrise Solar
  - Company Overview
  - Product Type Portfolio
  - Recent Developments/Updates

10. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Section

References
Research Methodology
About Us and Sales Contact
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