Solar Street Lighting Market Size, Share, Trends, Growth and Demand Forecast to 2023

30/mag/2018 13:47:14 P&S Market Research Contatta l'autore

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The  solar street lighting market  is expected to reach $ 10.8 billion by 2023, growing at a CAGR of 21.2% between 2017-2023. And increase the efficiency of the solar street lighting industry.

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In terms of application, the solar street lighting is categorized into residential, parks, parking lots, highway road lighting, schools, and universities, and industrial places including construction and manufacturing sites. 4 million units of solar street lights in 2016

In terms of revenue, the commercial applications were the largest market and is expected to cross $ 5.0 billion by 2023. Government initiatives to reduce greenhouse gas emission0s and increasing solar electrification programs in the country has been the key market drivers globally. The key benefits of using solar street can be used in remotest areas where electrification is very difficult. The advancement in solar power technology has led to decrease in the cost of solar enabled components such as luminaries and inverters. These luminaries and inverters are an inextricable part of solar street lights.

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Solar power system running, such as the panels, power electronics, mounting hardware, and installation itself. The power in the installed cost of the power supply. Solar solutions will become more competitive with conventional forms of electricity and more to peoples will deploy such solutions. Moreover, the subsidies and other incentives provided by the solar component, in order to increase the use of solar power, are expected to boost the demand for solar street lighting during the forecast period.

Asia-Pacific has been the largest solar street lighting market, whereas MEA is expected to witness the fastest growth among the regions. Increase in MEA market increase in demand for electricity, increase in demand for electricity, rise in demand for electricity, increase awareness and increase awareness sources.

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The North American market is expected to witness a double-digit growth in the forecast period owing to the United States and Canada. Sources of electricity generation. The declining of LED and photo voltaic solar panels, and improved efficiency have been driving the use of solar street lighting solutions in North America.

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