According to the Graphical Research new growth forecast report titled “Asia Pacific Solar Street Lighting Market Size By Product, Luminaries, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026”, to Rear Excessive Growth by 2026. Asia Pacific solar street lighting market is set to witness significant growth on account of growing emphasis toward the development of various smart cities. Increasing investments for developing a sustainable urban infrastructure along with the introduction of several regulatory policies to reduce carbon emission will proliferate the business growth. Moreover, continuous advancement to make product more efficient and cost competent as compared to traditional lighting systems, will further enhance the industry landscape.
Growing replacement of traditional street lights with the cost effective LEDs owing to their high reliability and lower energy consumption will favor the product demand across the region. Superior resistance toward climate changes, longer operational lifespan and ecologically sound operation are some of the key underlaying factors propelling the product adoption across the region.
Standalone solar street lighting market will witness strong growth on account of the increasing demand of the product across remote and off-grid locations. High costs associated with the deployment of traditional street lighting infrastructure in remote areas will further augment the product adoption over the forecast timeframe.
Residential application is set to witness significant growth on account of rapid urbanization coupled with the increasing penetration of new housing societies. Government initiatives for the development of renewable infrastructure along with the efforts toward improving urban sustainability will further drive the solar street lighting demand across residential premises.
India solar street lighting market is projected to witness substantial growth owing to the rapid development of new commercial centers and supportive regulatory landscape toward the adoption of renewable technologies. For instance, Government of India launched phase 2 of Atal Jyoti Yojna (AJAY) in 2018, with an aim to install 304,500 solar street lights across India.
Key industry participants operating across the Asia Pacific include Su-Kam Power Systems Ltd, Anhui Longvolt Energy Co. Ltd., Orion Solar, Solar G, Jinhua SunMaster Solar Lighting Co. Ltd., Leadsun, Urja Global Limited, Philips Lighting Holding B.V, Solux, Sol Inc., Zhuhai Bomin Solar Technology Co. Ltd, Exide Industries Ltd., Sunna Design, Shenzhen Spark Optoelectronics S&T Co. Ltd., amongst others.
Asia Pacific Solar Street Lighting Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:
Market Share, By Product
- Grid Connected
Market Size, By Luminaries
Market Value, By Application