What Has Been the Growth of the Solar Street Lighting Market So Far?
The solar street lighting market has seen considerable growth due to a variety of factors.
• The market for solar street lighting has witnessed a fast-paced increase in size over the last few years. The market, valued at $10.39 billion in 2024, is expected to expand to $12.18 billion in 2025, showing a compound annual growth rate (CAGR) of 17.3%. This growth during the historical period is mainly due to efforts in community involvement and awareness, government initiatives and policies, environmental and sustainability campaigns, rural electric supply programs, as well as urban development and infrastructure projects.
What Are the Future Growth Projections for the Solar Street Lighting Market?
The Solar Street Lighting market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of solar street lighting is predicted to experience swift expansion in the forthcoming years, reaching a valuation of $22.79 billion by 2029, yielding a compound annual growth rate (CAGR) of 17.0%.
This substantial growth within the forecast period is a result of an enlarged market in developing regions, escalating energy prices and needs, heightened ecological consciousness and sustainability objectives, and support from government initiatives and regulations. The key trends for the forecast period constitute hybrid solar lighting systems, energy optimization via artificial intelligence (AI), lighting solutions focused on community benefits, augmented durability and resistance towards weather conditions, and designs that are both modular and scalable.
What Are The Core Factors Supporting Growth In The Solar Street Lighting Market?
The solar street lighting market's growth is anticipated to be driven by the escalating demand for clean energy. Clean energy is a form of energy that is not associated with the emission of damaging pollutants, especially the greenhouse gas CO2, which can lead to global warming. Its utilization is a key part of environmental conservation efforts. Solar energy, recognized as a type of clean energy, is frequently harnessed for use in public lighting. Solar street lights are designed with integrated photovoltaic solar panels that successfully capture and store daylight energy in a battery system. This stored energy is then used to power the light source when it gets dark. For example, the American Clean Power Association's Clean Power Annual Market Report from March 2024 revealed that in 2023, a total of 33.8 gigawatts (GW) of new utility-scale clean energy projects were established. This represented a significant 12.5% increase from the record set in 2021. Hence, the rising demand for clean energy is fueling the expansion of the solar street lighting market.
What Are The Major Segments Within The Global Solar Street Lighting Market?
The solar street lighting market covered in this report is segmented –
1) By Type: Portable, Standalone, Centralized
2) By Component Type: Controller, Lamp, Solar Panel, Sensors, Battery, Other Components
3) By Luminaries: Light Emitting Diode, Compact Fluorescent Lamps
4) By Application: Parking Lot, Highway And Roadway, Airport Runway, Manufacturing Site
Subsegments:
1) By Portable: Mobile Solar Lights, Solar-Powered Lanterns
2) By Standalone: Integrated Solar Street Lights, Pole-Mounted Solar Lights
3) By Centralized: Grid-Tied Solar Street Lights, Smart Solar Street Lighting Systems
Pre-Book The Solar Street Lighting Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Trends Are Expected To Transform The Solar Street Lighting Market?
The trend of product innovation is becoming increasingly popular in the solar street lighting market. Big players in the industry are introducing novel products to maintain their competitiveness. For instance, Streetleaf, a company based in the US that offers solar-powered streetlight services, launched Streetleaf solar streetlights in June 2023. These lights are created to provide reliable, cost-effective, and eco-friendly lighting for both city and rural regions. By removing the need for electrical wiring, they allow for a quick installation process that takes less than 15 minutes, constituting an economical replacement for traditional grid systems. Streetleaf has set a target to power over 55 million streetlights using renewable energy sources. These lights are equipped with high-efficiency solar panels and intelligent sensors that automatically modulate brightness in response to changes in ambient light and traffic circumstances. Moreover, a remote-control system provides easy monitoring and management of each unit.
Who Are the Key Players In The Solar Street Lighting Market?
Major companies operating in the solar street lighting market include:
• Acuity Brands Inc.
• Bajaj Electricals Limited
• Cooper Lighting LLC
• Dragons Breath Solar
• Jiangsu Sokoyo Solar Lighting Co. Ltd.
• Signify Holding B.V.
• Solektra Solar Energy
• Sunna Design SA
• Urja Global Ltd.
• Omega Solar LLC
• VerySol GmbH
• Solar Street Lights
• Greenshine New Energy Co. Ltd.
• ABB Limited
• Nomo Group CO. Ltd.
• Su-Kam Power Systems Ltd.
• GE Lighting
• Anhui Longvolt Energy Co. Ltd.
• Covimed Solar
• Jinhua SunMaster Solar Lighting Co. Ltd.
• Shenzhen Spark Co. Ltd.
What Is The Most Dominant Region In The Solar Street Lighting Market?
Asia-Pacific was the largest region in the solar street lighting market in 2024. The regions covered in the solar street lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
