Solar-powered street LED lights market is estimated to grown fast from 2021 to 2030

The solar street lighting industry is estimated to grow at a high rate because of the increasing application on smart city building, rising inclination towards solar energy and other green and clean energy initiatives, and the rising support from government and commercial agencies. 

The growing popularity of solar street lights in urban areas is promoting the growth of the solar street lighting market. The rising urbanization in the countries across the world require energy efficient tools, such as solar energy panels. The solar energy powered street lights provide quick fault detection and real-time control decisions.

Especially in far-away areas, solar energy is a reliable source. The minimal maintenance and low comparative operational cost helps the use of solar street lighting in many regions across the world.

By region, the global solar street lighting market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.

The Asia Pacific region is estimated to take the largest market share with a growth rate of more than 18% .The European region is expected to grow at a steady rate. Also, the North American region is also expected to grow at a substantial rate. The Middle East and African solar street lighting market volume is expected to cross 45 million units by 2030.

The major players in the global solar street lighting market cover Acuity Brands, Inc., Bajaj Electricals Ltd., Bridgelux Inc., Cooper Lighting, LLC, Dragons Breath Solar, Jiangsu SOKOYO Solar Lighting Co., Ltd., Omega Solar, Philips Lighting Holding B.V., Signify Holding BV, Sol Inc., Solar Street Lights USA, Solektra International LLC, Sunna Design, Urja Global Ltd., and VerySol Inc., among others. The major 9 players in the market hold approximately 30% of the market share.

According to market survery made by Astute Analytica, the Global Solar Street Lighting Market was valued at US$ 3,972.0 Million in 2021 and is forecasted to reach US$ 15,716.4 Million by 2030. The market is expected to register a CAGR of 17.12% during the forcast period.