Solar Powered LED Street Light Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Solar street lights (SSL) are widely used for outdoor street lighting as solar power is their primary source of electricity. These lighting mediums worked independently of traditional sources of electricity, obviating the need for a general grid to meet any power requirements. Solar street light system uses various kind of lighting system such as, CFL, LED, photovoltaic. But among them LED solar lights are commonly used because of their durability and ability to produce more brightness in the dark. The key market drivers for solar powered LED street light market are, increased demand for solar energy, rising need for affordable lighting system and technological advancements.

MARKET SCOPE

The "Global Solar Powered LED Street Light Market Analysis to 2031" is a specialized and in-depth study of the Solar powered LED street light Market with a special focus on the global market trend analysis. The report aims to provide an overview of Solar powered LED street light market with detailed market segmentation by type and application. The global solar powered LED street light market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solar powered LED street light market player and offers key trends and opportunities in the solar powered LED street light market.

MARKET SEGMENTATION

  Based on the type the market is segmented as, standalone and grid connected.

  Further, on the basis of application the market is segmented as, residential, commercial, industrial, and others.

MARKET DYNAMICS

Drivers-

  Technological advancements solar energy systems

  Growing demand for affordable electricity and power generation across the globe.

  Increasing off grid electricity demand

  Rising adoption of solar system in place of conventional energy systems.
Restraints-

  The market growth is restrained by high initial cost of the setup and need for frequent maintenance.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global solar powered LED street light market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The solar powered LED street light market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting solar powered LED street light Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the solar powered LED street light market in these regions.
IMPACT OF COVID-19 ON SOLAR POWERED LED STREET LIGHT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The reports cover key developments in the solar powered LED street light market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from solar powered LED street light market are anticipated to lucrative growth opportunities in the future with the rising demand for solar powered LED street light market. Below mentioned is the list of few companies engaged in the Solar powered LED street light market.

The report also includes the profiles of key solar powered LED street light market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   Bridgelux
  
•   Solar Street Lights USA
  
•   Shenzhen Spark Co., Ltd
  
•   Solar Lighting International Inc
  
•   Anhui Longvolt
  
•   Greenshine New Energy
  
•   BISOL Group, d.o.o
  
•   SOKOYO
  
•   Philips Lighting
  
•   Aura Energy
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Solar Powered LED Street Light Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Type Standalone Grid Connected By Application Residential Commercial Industrial
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Bridgelux Solar Street Lights USA Shenzhen Spark Co., Ltd Solar Lighting International Inc Anhui Longvolt Greenshine New Energy BISOL Group, d.o.o SOKOYO Philips Lighting