Jul 10, 2020 11:57 AM ET
iCrowd Newswire – Jul 10, 2020
Who isn’t aware about the pitfalls and harms of the increased usage of fossil fuels for harnessing energy these days?! Today, topics such as energy efficiency, sustainable living, and production of energy using renewable sources are pretty common, which is certainly necessary. It is high time that each and every person starts thinking about using clean energy, and that too, efficiently. One of the major technologies that have been developed for generating clean energy is those which help in the utilization of solar power. The sun is capable of providing sufficient amount of energy for powering up both residential and commercial buildings.
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As per the International Energy Agency, the use of renewable energy is expected to increase by 50% during 2019–2024, with solar energy leading the charge. Photovoltaic (PV) panels have become quite popular these days, and several buildings are increasingly making their use for a number of applications. Other than this, solar energy is also being used in street lighting applications, as such street lights offer a better value for cost, provide optimum lighting, are easy to install, and require low maintenance. Due to these advantages, the global solar street lighting market is projected to grow considerably in the coming years, according to P&S Intelligence.
The objective of this research includes;
- Historical and the present size of the solar street lighting market
- Future potential of the market through its forecast for the period 2020– 2030
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the gene therapy market and their service offerings
- Recent strategic developments by the major players in the market
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One of the primary reasons for this growth is the falling prices of solar panels, which is ascribed to the improvement in the manufacturing process. In 2009, the cost of a solar panel installation was $8.50 per watt, which has now fallen by over 65%, to $2.96 per watt. Other than this, the efficiency of solar panels has also increased significantly since the emergence of the technology, thereby resulting in the widening application areas for solar energy, including street lighting. Today, solar street lights can run from dusk till dawn and even during winters or after a hurricane.
There are two types of solar street lights, namely on-grid and standalone. In the past, larger demand was created for standalone solar street lights, due to the fact that these are independent sources, which provide electricity to areas that do not have access to transmission lines and grids. Such products are extremely useful in remote locations, where the dependence on traditional fuels, such as firewood or kerosene, for lighting purposes, is high. The rising demand for these solutions is further leading to the growth of the solar street lighting market.
The research includes detailed analysis of;
Based on Structure Type
Based on Component
- Compact fluorescent light (CFL)
- Light-emitting diode (LED)
- Metal halide
- Sodium vapor
- Solar Panel
- Lead acid
Based on Installation
Based on Application
- Highway & Roadway
- Airport Runway
- Park & Playground
- Manufacturing Site
- Parking Lot
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Keywords: Solar Street Lighting Market, Solar Street Lighting Market Growth, Solar Street Lighting Market Size, Solar Street Lighting Market Share, Solar Street Lighting Market Trends, Solar Street Lighting Market Demand, Solar Street Lighting Market Drivers