Solar Street Light Market Worth 7530 Million USD by 2024 | CAGR 16.9%

Solar Street Lights Market 2019-2024

Solar street lights are raised light sources which are powered by photovoltaic panels generally mounted on the lighting structure or integrated into the pole itself. The photovoltaic panels charge a rechargeable battery, which powers a fluorescent or LED lamp during the night.

The Asia Pacific was the largest revenue market with a market share of 35.56% in 2012 and 38.93% in 2017 with an increase of 3.37%. The Middle East and Africa ranked the second market with a market share of 27.51% in 2016. Also, the Asia Pacific market for Solar Street Lights is expected to be the market with the most promising growth rate. Rising per capita income of people in emerging economies such as China, India, Philippines, Thailand, and Vietnam has led to an increase in demand.

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Solar Street Lights companies are mainly from Europe and the United States, the industry concentrate rate is low. The top three companies are Philips, Tata Power Solar Systems, Jiawei, with the revenue market share of 6.31%, 3.04%, and 2.22% in 2016.

The growth of the Solar Street Lights market is largely driven by downstream applications. What is more, governments of numerous countries are encouraging the adoption of solar street lighting as they are eco-friendly and cost-efficient. Advanced solar street lighting systems save significant energy.

Although sales of Solar Street Lights brought some opportunities, the study group recommends the new entrants who have not technical advantage and downstream support do not enter into the Solar Street Lights field. As a large demand for high-end products at home and abroad, many companies began to enter the field of high-end. What is more, the company in this industry should pay attention to their R&D, innovation, and services, then they may get a competitive advantage, and get a bigger market share.

According to this study, over the next five years, the Solar Street Lights market will register a 16.9% CAGR in terms of revenue, the global market size will reach US$ 7530 million by 2024, from US$ 2950 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in the Solar Street Lights business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Solar Street Lights market by product type, application, key manufacturers and key regions and countries.

This study considers the Solar Street Lights value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

Standalone
Grid Connected

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Residential
Municipal Infrastructure
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

America
APAC
Europe
Middle East & Africa

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The report also presents the market competitive landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in Chapter 3.

Philips
Tata Power Solar Systems
Bisol
Leadsun
Su-Kam Power Systems
Urja Global
Solar Electric Power Company SEPCO
Jiawei
Yingli Solar
King-sun
BYD
Shenzhen Spark Optoelectronics S&T

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

Study and analyze the global Solar Street Lights consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
Understand the structure of Solar Street Lights market by identifying its various sub-segments.
Focuses on the key global Solar Street Lights manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
Analyze the Solar Street Lights with respect to individual growth trends, future prospects, and their contribution to the total market.
Share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks.
Project the consumption of Solar Street Lights submarkets, with respect to key regions along with their respective key countries.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Strategically profile the key players and comprehensively analyze their growth strategies.

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