Solar LED Street Lighting Market Expected to Secure Notable Revenue Share during 2022-2031


The Global Solar LED Street Lighting Market size was valued at USD 3,852 million in 2021 and is projected to register a valuation of USD 13,225.75 million by 2030, at a Compound Annual Growth Rate (CAGR) of 12.3% over the forecast period 2022-2030.

Increasing government initiatives to implement smart cities and smart grid systems is expected to fuel market growth. Moreover, increasing adoption of lots in street lighting systems to reduce maintenance and easy operation is also expected to drive the market during the forecast period.

Solar street lights are a standalone system, which means it does not require any additional wire connections. It is a solar battery-based system that generates electricity through solar panels. All the requirements of solar street lights are mounted on a single pole. It comes with dusk to dawn sensors built into it. The solar lamp automatically turns on in the evening, turns off in the morning, and charges during the day.

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Covid-19 Impact Analysis:

The outbreak of COVID-19 and the subsequent extent of lockdown have impacted the solar-led street lighting market across the globe. As the Covid-19 crisis continues, many global industrial manufacturing companies are facing challenging times including production shutdowns, transportation, supply chain disruptions, cost increases, and workforce disruptions, which negatively affect the solar-led street lighting industry in terms of revenue.

What are the Global Solar LED Street Lighting Market Drivers?

A major market driver for global solar streetlights is the increase in energy demand and the shift toward greener sources of energy. Solar street lights offer the advantage of being installed in places where power supply lines cannot reach. Government subsidies and loans for the installation of solar street light systems are also factors driving the global solar-led street light market.

With increasing urbanization, the urban population is expanding as well as urban areas and solar lights can be used in residential, commercial, and industrial areas as well. An increase in public investment by the government leads to more construction projects of highways and roads.

Market Top Companies Profiles:

Philips Lighting Holdings B.V.
Signify Holding BV
Acuity Brands
Bridgelux Inc.
Jiangsu SOKOYO Solar Lighting Co. Ltd.
Bajaj Electricals Limited
Urja Global Ltd
Cooper Lighting LLC
Dragons Breath Solar
Omega solar
Solar Street Lights the USA
Solektra International LLC
Global Solar LED Street Lighting Market Segmentation:

The Global solar-led street lighting market is segmented by type, application, and region. By type; Portable, Standalone, Centralized, Grid-connected system, and Others. By application; Parking Lot, Highway and Roadway, Airport Runway, Manufacturing Site, Playgrounds, Garden, and Others. By region; Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

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Type Analysis

On the basis of type, a grid-connected system is anticipated to dominate the market in the upcoming years, due to certain government regulations like net metering and feed-in tariff.

Grid-connected system
Application Analysis

On the basis of application, highway, and roadway is anticipated to dominate the market during the forecasted period, due to increasing advanced smart control network companies.

Parking Lot
Highway and Roadway
Airport Runway
Manufacturing Site
Regional Analysis by Market Business Insights:

The global solar-led street lighting market is categorized into regions such as Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

Asia-Pacific to Witness Rapid Growth Over the Forecast Period

The Asia Pacific is expected to have the largest market share during the forecast period. The increasing government activities for the use of energy-efficient lighting solutions with a growth of production facilities. The rising solar projects are also propelling market growth.

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Region Covered:

North America (United States, Canada)
Latin America (Argentina, Brazil, Mexico, Rest of LATAM)
Europe (U.K., Germany, Spain, France, Italy, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Denmark, Sweden, Norway, Finland), Russia, Poland, Rest of Europe)
The Middle East and Africa (Israel, GCC (Saudi Arabia, Bahrain, Kuwait, UAE, Qatar, Oman), South Africa, North Africa, Rest of the Middle East and Africa)
Asia-Pacific (China, South Korea, India, Japan, Malaysia, Hong Kong, Australia, Indonesia, Taiwan, New Zealand, Rest of Asia-Pacific)



Research Analyst at Market Report Hub

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