The global solar street lighting market has undergone many changes in recent years. The demand for street lighting has shifted from electricity-powered to solar and wind-powered lights. The rising demand for electricity from various industries has allowed the streetlight manufacturers to adopt alternative sources to provide street lighting solutions. The solar-powered street lights have been gaining tremendous acceptance across the globe. Low manufacturing cost, environment-friendly, use of green technology, and durability are the factors that can be held responsible for the growing installation of solar powered street lights.
Outdoor street lights powered by solar energy are of two types namely, on-grid and standalone. The standalone solar street lighting comprises a rechargeable lead acid battery, light source, and photovoltaic (PV) modules. Solar street lighting also comprises tubular batteries that require low maintenance cost, perform better, and carry longer life than pasted-plate batteries. Considering the many benefits, many regions across the globe are availing solar street lighting solutions. The demand for solar street light (SSL) is projected to increase in the years to come as they offer a feasible answer to street lighting. SSLs require no wiring, no transformer cost, and low maintenance. All these factors are expected to propel the global solar street lighting market.
Governments to Support Manufacture of New Solar Street Lighting
The trend of solar-powered street lighting is fast catching up across the emerging economies. Even the governments of many nations are backing the trend by increasing their spending. Going forward, the global solar street lighting market is predicted to expand owing to the rising funding from governments of many nations in an effort to inspire technological innovation. Companies are investing more in research and development activities to manufacture new solar-powered street lighting systems.
The new entrants are launching their innovative ideas of manufacturing solar street lights. Technological advancements are boosting the manufacturers to increase the durability of streetlights. The ‘save energy’ trend is expected to drive manufacturers to introduce more varieties of solar street lighting systems. Such factors prove that the adoption of solar street lighting systems is rapidly increasing.
Asia Pacific Leads Production of Solar Street Lights
Solar street lighting finds application in residential, commercial, and industrial areas. The demand for LED and CFL lights is expected to increase in the residential areas. Industries such as manufacturing, construction, mining, oil and gas, and automotive are increasingly installing solar street lighting systems in their premises. The growing application of solar street lighting in various industries is anticipated to boost the global market.
The global solar street lighting market is spread across North America, Asia Pacific, Europe, the Middle East and Africa, and South and Central America. In 2015, Asia Pacific accounted for 44% of the global solar street lighting market. Currently in Asia Pacific, in terms of revenue, India leads the market for solar street lighting, followed by China. In 2015, Europe ranked third after Africa, as the largest market for solar-powered street lighting owing to the growing need for an alternate reliable source.
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Currently, the International Finance Corporation and the World Bank are concentrating on promoting solar street lighting systems. This will boost leading players to introduce new street lighting products powered by solar energy, thus expected to propel the global market.
Some of the prominent players operating in the global solar street lighting market are Philips Lighting Holding B.V., Bridgelux, Inc., SOKOYO Solar Group, Sunna Design, VerySol GmbH, Sol, Inc.