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Jan 24, 2024

Solar Street Lighting Market to Exceed of USD 16.9 billion Globally, by 2031

Wilmington, Delaware, United States, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global solar street lighting market is projected to flourish at a CAGR of 16% from 2023

Wilmington, Delaware, United States, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global solar street lighting market is projected to flourish at a CAGR of 16% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 16.9 billion is anticipated for the market in 2031. As of 2023, the market for solar street lighting is expected to close at US$ 5.1 billion.

The increased transition towards renewable energy sources has led to the increased adoption of solar street lighting as a sustainable alternative to traditional grid-connected lighting systems.

Increasing urbanization and rapid infrastructural developments in developing nations accelerate the solar street lighting market growth. The demand for solar streetlighting is high on roads, highways, public spaces, and residential areas as solar streetlights provide an energy-efficient alternative by harnessing sunlight to generate electricity.

Increased awareness about the environmental benefits associated with solar street lighting to propel the market demand as solar street lighting helps reduce greenhouse gas emissions and air pollution by using clean energy, contributing to environmental conservation, and combating climate change.

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Market Snapshot:

Key Takeaways from the Market Study

Solar Street Lighting : Key Trends and Opportunistic Frontiers

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Solar Street Lighting Market – Regional Analysis

Competitive Landscape

The global solar street lighting market is fragmented, with the presence of a small number of leading players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global solar street lighting market report:

Key Developments in the Solar Street Lighting Market

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Solar Street Lighting Market – Key Segments

Type

By Luminaire Type

By Component

By Application

Region

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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