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Market Overview of Global Solar Street Lighting market:
According to our latest research, the global Solar Street Lighting market looks promising in the next 5 years. As of 2022, the global Solar Street Lighting market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Solar street lights are raised light sources which are powered by solar panels generally mounted on the lighting structure or integrated into the pole itself. The solar panels charge a rechargeable battery, which powers a compact fluorescent lamp or LED lamp during the night.
Affect the normal operation of the industry
The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on the solar street lighting industry will involve all major links and entities in the industrial chain. The management efficiency of the company is declining, commuting is seriously hindered, production plans are seriously hindered, network expansion is delayed, marketing is delayed, brand adjustment is forced and affect product sales. The impact on the solar street lighting industry depends on the prevention and control effect of COVID-19.
Fluctuation of raw material price
With the influence of COVID-19 epidemic in various industries and the strict blockade and restriction measures of governments all over the world, the solar street lighting market has also been impacted to a certain extent. Due to the continuous blockade, the production and operation of factories in most countries are restricted, affecting all participants in the global value chain, including Solar Street Lighting component suppliers. Many solar street lighting manufacturers, which depend on foreign parts supply, are increasing the cost of raw materials due to the interruption of supply chain. Most solar panel imports in the United States come from China and other places, and the impact of the epidemic on logistics speed will have a greater impact on enterprise production. If the epidemic develops further, logistics will always be unsatisfactory, and small and medium-sized solar street lighting enterprises will probably close down due to insufficient supply of raw materials, even large enterprises will face the same problems.
Fierce market competition
In recent years, the Solar Street Lighting industry has developed rapidly, resulting in low industry concentration and fierce market competition. Signify, Greenshine New Energy, Sol Inc and other brands occupy a large market share with their strong advantages in brand, channel, management and technology research and development. Some emerging Solar Street Lighting enterprises with their own technical characteristics and product development capabilities have also seized the development opportunities of the industry, expanded rapidly, and successfully cut into the product market, occupying a certain market share. With the constant standardization of industry standards, the performance of Solar Street Lighting products has been continuously improved, and the market demand has gradually increased, attracting more market participants to enter the market. The fierce market competition and more market participants pose certain challenges to the quality, after-sales guarantee and sales channels of Solar Street Lighting.
Customers have higher quality and brand requirements for manufacturers
Solar Street Lighting products have higher quality and brand requirements. Most of Street Lighting's customers are municipal departments, which have high requirements on the qualification and scale of production enterprises. Manufacturers with brand awareness and successful cases of large-scale projects are more likely to get orders. Only companies with strong technology, advanced equipment, rich project experience, perfect after-sales service system and good reputation can win customers. R&D and production of Solar Street Lighting products involve many industries. Due to the rapid technological update in the industry, enterprises in the industry need strong technical strength and R&D capability to ensure their market share.
Company Overview:
Signify is one of the major players operating in the Solar Street Lighting market, holding a share of 29.33% in 2023.
Signify
Signify NV is a Dutch multinational lighting company, established in 2016 by the spin-off of the Philips lighting division. The company manufactures electric lights and lamps for consumers, professionals and the Internet of Things. In 2018, Philips Lighting changed its name to Signify, although the company still produces lights under the Philips.
Greenshine New Energy
Greenshine New Energy (Greenshine), a US solar lighting manufacturer, develops and manufactures customized solar powered lighting systems for a wide range of lighting applications.
Segmentation Overview:
As for product types, the Light Emitting Diode (LED) segment held the largest market share in 2022.
Compact Fluorescent Lamps (CFL)
Compact Fluorescent Lamps (CFL) are energy-saving light bulbs, which last longer and use far less energy than traditional (or incandescent) light bulbs for the same level of light intensity.
They are made of a glass tube filled with a low-pressure mixture of gases, specifically mercury and noble gases. The tube is coated on the inside with a fluorescent material, usually a compound containing phosphorous.
Light Emitting Diode (LED)
When compared to other types of lighting product, LED lights are the most energy efficient and offer a brighter light for the same wattage. Good quality LED fixtures now output around 170 lumens per watt; a fluorescent puts out around 110.
LED is a popular choice of Solar Street Lighting. The price of LED bulb is higher than other bulbs, but LED Solar Street Lighting has a longer service life and saves more energy consumption.
Application Overview:
By application, the Commercial segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Solar Street Lighting market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Solar Street Lighting Market Report:
Market Size Estimates: Solar Street Lighting market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Solar Street Lighting market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Solar Street Lighting market
Segment Market Analysis: Solar Street Lighting market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Solar Street Lighting market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Solar Street Lighting Market: Revenue and sales volume of major countries in each region
Solar Street Lighting Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Solar Street Lighting market in major regions.
Solar Street Lighting Industry Value Chain: Solar Street Lighting market raw materials & suppliers, manufacturing process, distributors, downstream customers
Solar Street Lighting Industry News, Policies & Regulations
Key players in the global Solar Street Lighting market are covered in Chapter 12:
Solar Illuminations
Selux
Sol Inc.
Fonroche Lighting America
Signify
Greenshine New Energy
Solar Electric Power Company
Solar Street Lights USA
Greentek Energy Systems
In Chapter 2 and Chapter 15.1, based on types, the Solar Street Lighting market from 2018 to 2028 is primarily split into:
Compact Fluorescent Lamps (CFL)
Light Emitting Diode (LED)
In Chapter 3 and Chapter 15.2, based on applications, the Solar Street Lighting market from 2018 to 2028 covers:
Residential
Commercial
Industrial
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Solar Street Lighting market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028