Asia Pacific Solar Street Lighting Market Share is set to witness a steady growth on account of stringent regulatory policies and mandates toward the development of sustainable infrastructure. In addition, several targets set by the regulators pertaining to reduction in carbon emission levels in energy generation will proliferate the industry statistics. Increasing investment schemes, legislative programs and rising awareness for the renewable energy assets will further propel the product adoption over the forecast timeframe.
Introduction of government reform including feed in tariff (FIT) and net metering will favor the installation of grid connected solar street lighting across the region. Moreover, swift response & recovery time, reduced transmission losses and efficient management of grid disturbances are some of the key factors augmenting the solar street lighting market growth.
Demand for CFL luminaries’ is set to witness a strong growth on account of growing investments for bulk procurement by respective government authorities along with shifting focus toward sustainable energy generation technologies. In addition, economical operational cost, lower carbon footprint and higher efficiency as compared with incandescent bulbs are some of the vital factors driving the product installation across the region.
The installation of LED luminaries will surge substantially owing to its efficient lumen & wattage characteristics as compared with other available counterparts. Long operational lifespan along with better resistance to climatic changes and ecological benefits are few of the key features favoring the product adoption. In addition, absence of toxic metals including mercury and lower heat generation of these products will further escalate the product deployment over the forecast timeframe.
Rising demand for cleaner energy coupled with the high growth potential of the solar technology will augment the product demand over the forecast period. Low operational cost, independency from grid power, and economical operations & maintenance are some of the prominent features augmenting the demand of solar street lighting across the region.
India solar street market will witness a substantial growth on account of stringent government regulations pertaining to the adoption of renewable energy sources along with the growing adoption of sustainable technologies. For instance, according to India Brand Equity Foundation (IBEF) 2018 report, India plans to generate 175 GW of energy through renewable sources till 2022, out of which, 100 GW will be generated by solar energy. Moreover, reforms and policies including Deendayal Upadhyaya Gram Jyoti Yojana for the rural electrification will further escalate the solar street lighting market size across the country.
Key players in the market include Anhui Longvolt Energy Co. Ltd., Su-Kam Power Systems Ltd., Solar G, Leadsun, Orion Solar, Jinhua SunMaster Solar Lighting Co. Ltd., Philips Lighting Holding B.V, Urja Global Limited, Zhuhai Bomin Solar Technology Co., Ltd., Solux, Sol, Inc., Exide Industries Ltd., Shenzhen Spark Optoelectronics S&T Co., Ltd., Sunna Design amongst others.