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Solar Lighting Systems - Global Market Trajectory & Analytics

  • ID: 5303518
  • Report
  • February 2022
  • Region: Global
  • 516 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Azuri Technologies Ltd.
  • Eaton Corporation Plc
  • FlexSol Solutions B.V.
  • Nokero USA LLC
  • Signify Holding B.V.
  • Solar Street Lights USA

Global Solar Lighting Systems Market to Reach $11.2 Billion by 2026


Amid the COVID-19 crisis, the global market for Solar Lighting Systems estimated at US$5.5 Billion in the year 2020, is projected to reach a revised size of US$11.2 Billion by 2026, growing at a CAGR of 13% over the analysis period. LED, one of the segments analyzed in the report, is projected to grow at a 15.2% CAGR to reach US$9.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Other Light Sources segment is readjusted to a revised 8.4% CAGR for the next 7-year period. This segment currently accounts for a 36.6% share of the global Solar Lighting Systems market.



The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $2.6 Billion by 2026


The Solar Lighting Systems market in the U.S. is estimated at US$1.3 Billion in the year 2021. The country currently accounts for a 23.08% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.6 Billion in the year 2026 trailing a CAGR of 15.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 10.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR while Rest of European market (as defined in the study) will reach US$3.1 Billion by the close of the analysis period.

Growth in the market will be driven by the growing popularity of solar street lighting. Solar street lighting has been garnering a significant traction across cities owing to its potential to accelerate the transition towards a green, low-carbon future. The demand for these systems is further propelled by increasing demand for energy in both rural and urban areas. The technology is benefitting from declining cost of associated components like solar photovoltaic panels, making it an attractive alternative to conventional street lights. Solar street lights are capable of operating even on cloudy or rainy days. The market is also bolstered by favorable government initiatives to reduce carbon emissions through the use of eco-friendly technology. The shift toward solar street lighting is expected to be further facilitated by numerous benefits of these systems over their counterpart traditional solutions. Solar street lighting is sustainable in nature and independent of power grid, which leads to low operating costs. Rather than relying on utility provider, these lights are powered by solar energy, which is stored for later use. Solar street lighting has lower risk of overheating and requires lower maintenance in comparison to traditional street lights. The lack of external wires further reduces the risk of accidents like electrocution and strangulation. Solar street lights are eco-friendly in nature and considerably reduce carbon footprint. In addition, these systems can be easily installed in remote areas that are not served by conventional systems, making them a suitable and efficient option for addressing lighting issues.

Select Competitors (Total 83 Featured) -

  • Azuri Technologies Ltd.
  • Clear Blue Technologies Inc.
  • Eaton Corporation Plc
  • FlexSol Solutions B.V.
  • Nokero USA LLC
  • SEPCO- Solar Electric Power Company
  • Signify Holding B.V.
  • Solar Lighting International, Inc.
  • Solar Street Lights USA
  • SunMaster Solar Lighting Co., Ltd.
  • Sunna Design Inc. (Sol)
  • Sunna Design SA
Frequently Asked Questions about the Global Market for Solar Lighting Systems

What is the estimated value of the Global Market for Solar Lighting Systems?

The Global Market for Solar Lighting Systems was estimated to be valued at $5.5 Billion in 2020.

What is the growth rate of the Global Market for Solar Lighting Systems?

The growth rate of the Global Market for Solar Lighting Systems is 12.6%, with an estimated value of $11.2 Billion by 2026.

What is the forecasted size of the Global Market for Solar Lighting Systems?

The Global Market for Solar Lighting Systems is estimated to be worth $11.2 Billion by 2026.

Who are the key companies in the Global Market for Solar Lighting Systems?

Key companies in the Global Market for Solar Lighting Systems include Azuri Technologies Ltd., Clear Blue Technologies Inc., Eaton Corporation Plc, FlexSol Solutions B.V., Nokero USA LLC, SEPCO, Solar Electric Power Company, Signify Holding B.V. and Solar Street Lights USA.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Azuri Technologies Ltd.
  • Eaton Corporation Plc
  • FlexSol Solutions B.V.
  • Nokero USA LLC
  • Signify Holding B.V.
  • Solar Street Lights USA

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Solar Lighting Systems – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Solar Power Becomes Indispensable to Global Energy Mix
  • Robust Demand for Solar Power Provides a Fertile Environment for the Growth of Solar Lighting Systems: Global Demand for Solar Photovoltaic Power (In Gigawatts) for Years 2020, 2022, 2024 & 2026
  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
  • These are Times When Questions Abound & Answers Are Few
  • So How Fast Or Slow Are We Moving?
  • How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • As India Burns Amid a Lethal Double & Triple Mutation Driven Second Wave, Its Clear That Equity is Not a Part of Global Policy on Tackling COVID
  • What We Know So Far – “Vaccine Efficiency Against New Strains is Decreasing”
  • Progress on Vaccinations, Why Should Businesses Care?
  • With IMF’s Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback
  • A Strong 2021 Economic Rebound Based On Pent-Up Demand Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
  • A Retrospective Review of Year 2020 as the Worst Year in Humanity’s History that Left the World in Shambles & Industries and Markets Upended
  • How the Clean Technologies Industry is Impacted by the Pandemic & What’s the New Normal?
  • Global Clean Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • A Green Recovery is On the Agenda for Most Countries Worldwide: The New Normal in Global Clean Technologies Market by Major Geographies Analyzed By Annual % Growth For Years 2019 Through 2025
  • COVID-19 Sharpens the Focus on the Environment. Here’s Why
  • What’s In-Store for Renewable Resources?
  • Recent Market Activity
  • Innovations
  • World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Internet of Energy (IoE) Sets the Stage for Renewables. Here’s How
  • Myriad Factors Support the Trend Towards Solar Street Lighting
  • Innovation is Key to Sustained Growth of Solar Street Lights
  • Smart Cities to Provide Added Boost for Solar Street Lighting
  • Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for Solar Street Lighting: Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
  • AI Makes Its Presence Felt in the Solar Lighting Systems Market
  • Favorable Regulations Remain Imperative for Sustained Growth in the Market
  • Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries
  • Targets for Electricity Production from Renewable Energy Sources in Select Countries
  • Market to Benefit from the Shift Towards Decentralized Power Generation & Rural Electrification in Emerging Nations
  • Global Distributed PV Capacity Growth (in GW) by End-Use for the Period 2007-12, 2012-18 and 2019-24
  • Rising Popularity of Building Integrated Photovoltaics (BIPV) to Spur Growth in the Residential and Commercial Sectors
  • Dedicated Solar Electric Architecture is Imperative for Better Quality Solar Lights: Global Building Integrated Photovoltaics (BIPV) Market by Region (in US$ Million) for the Years 2020 and 2027
  • Long-term Prospects Remain Favorable Amid Growing Population & Urbanization Drive
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Solar Lighting Systems Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 83
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Azuri Technologies Ltd.
  • Clear Blue Technologies Inc.
  • Eaton Corporation Plc
  • FlexSol Solutions B.V.
  • Nokero USA LLC
  • SEPCO- Solar Electric Power Company
  • Signify Holding B.V.
  • Solar Lighting International, Inc.
  • Solar Street Lights USA
  • SunMaster Solar Lighting Co., Ltd.
  • Sunna Design Inc. (Sol)
  • Sunna Design SA
Note: Product cover images may vary from those shown