Product Code: CMI7030
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
Table of Contents
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)
- 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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