Market Research Report

A quick peek into the report

1.1 Market Drivers
1.1.1 Rising Energy Consumption
1.1.2 Smart City Adoption
1.1.3 Decreasing Cost of Solar Components
1.1.4 Favourable Government Policies
1.2 Market Restraints
1.2.1 High Initial Costs
1.2.2 Competition due to Counterfeit Products
1.3 Market Opportunities
1.3.1 Technological Innovation Increasing the Solar Street Lighting Market Penetration
1.3.2 Adoption of Solar-as-a-Service (SaaS) Model

2.1 Overview
2.2 Key Strategies and Developments
2.2.1 Partnerships and Collaborations
2.2.2 Others
2.3 Industry Attractiveness

3.1 Overview
3.2 Solar LED Street Lighting Overview
3.2.1 Solar LED Street Lighting Workflow
3.2.2 Evolution of Street Lighting
3.2.3 Comparison of Traditional Street Lighting and Solar Street Lighting
3.3 Lighting Industry Trends
3.3.1 Cloud-Based Lighting Controls
3.3.2 Light Fidelity (LiFi) Becoming a Brighter Way to Communicate
3.3.3 LED Filament Bulbs Equivalent of Incandescent Bulb with LED Lamp Benefits
3.3.4 Lighting as a Service (LaaS)
3.4 Consortiums and Associations
3.5 Supply Chain Analysis

4.1 Assumptions and Limitations
4.2 Market Overview
4.3 Stand-alone Solar Lighting System
4.4 Grid-type Solar Lighting System

5.1 Applications Market Overview
5.2 Commercial Lighting
5.3 Residential Lighting
5.4 Industrial Lighting

6.1 Market Overview
6.2 North America
6.2.1 The U.S.
6.2.2 Canada
6.2.3 Mexico
6.3 Europe
6.3.1 U.K.
6.3.2 Germany
6.3.3 Rest-of-Europe
6.4 Asia-Pacific (APAC)
6.4.1 India
6.4.2 China
6.4.3 Rest-of-Asia-Pacific
6.5 Rest-of-the-World (RoW)
6.5.1 Middle East and Africa (MEA)
6.5.2 Latin America

7.1 Overview
7.2 Anhui Longvolt Energy Co., Ltd.
7.2.1 Company Overview
7.2.1.1 Corporate Summary
7.2.2 SWOT Analysis
7.3 BISOL Group, d.o.o.
7.3.1 Company Overview
7.3.1.1 Corporate Summary
7.3.2 SWOT Analysis
7.4 Bridgelux, Inc.
7.4.1 Company Overview
7.4.1.1 Corporate Summary
7.4.2 SWOT Analysis
7.5 COVIMED SOLAR
7.5.1 Company Overview
7.5.1.1 Corporate Summary
7.5.2 SWOT Analysis
7.6 Dragons Breath Solar
7.6.1 Company Overview
7.6.1.1 Corporate Summary
7.6.2 SWOT Analysis
7.7 Greenshine New Energy
7.7.1 Company Overview
7.7.1.1 Corporate Summary
7.7.2 SWOT Analysis
7.8 Orion Solar
7.8.1 Company Overview
7.8.1.1 Corporate Summary
7.8.2 SWOT Analysis
7.9 Signify Holding
7.9.1 Company Overview
7.9.2 Financials
7.9.2.1 Financial Summary
7.9.3 SWOT Analysis
7.10 Sol Inc.
7.10.1 Company Overview
7.10.1.1 Corporate Summary
7.10.2 SWOT Analysis
7.11 Solar Electric Power Company
7.11.1 Company Overview
7.11.1.1 Corporate Summary
7.11.2 SWOT Analysis
7.12 Solar Lighting International
7.12.1 Company Overview
7.12.1.1 Corporate Summary
7.12.2 SWOT Analysis
7.13 Solar G
7.13.1 Company Overview
7.13.1.1 Corporate Summary
7.13.2 SWOT Analysis
7.14 SOLEX Energy Limited
7.14.1 Company Overview
7.14.1.1 Corporate Summary
7.14.2 SWOT Analysis
7.15 Su-Kam Power Systems Ltd.
7.15.1 Company Overview
7.15.1.1 Corporate Summary
7.15.2 SWOT Analysis
7.16 Sunna Design SA
7.16.1 Company Overview
7.16.1.1 Corporate Summary
7.16.2 SWOT Analysis
7.17 Urja Global Ltd.
7.17.1 Company Overview
7.17.1.1 Corporate Summary
7.18 Jiangsu Sokoyo Solar Lighting Co., Ltd.
7.18.1 Company Overview
7.18.1.1 Corporate Summary
7.19 SOLEKTRA INT.
7.19.1 Company Overview
7.19.1.1 Corporate Summary
7.20 EnGoPlanet Inc.
7.20.1 Company Overview
7.20.1.1 Corporate Summary
7.21 meeco AG
7.21.1 Company Overview
7.21.1.1 Corporate Summary
7.22 KAGA, Inc.
7.22.1 Company Overview
7.22.1.1 Corporate Summary

8.1 Scope of the Report
8.2 Solar LED Street Lighting Market Research Methodology

Table 1.1   Some of the Smart City Projects
Table 2.1   Partnerships and Collaborations
Table 2.2   Key Developments
Table 2.3   Key factors in Determining “Threat from New Entrants” in Solar LED Street Lighting Market
Table 2.4   Key Factors in Determining “Bargaining Power of Buyers” in Solar LED Street Lighting Market
Table 2.5   Key Factors in Determining “Bargaining Power of Suppliers” in Solar LED Street Lighting Market
Table 2.6   Key Factors in Determining “Rivalry Among Existing Firms” in Solar LED Street Lighting Market
Table 3.1   Major LaaS Business Model Deployments
Table 3.2   Examples of Some Associations and Consortia
Table 4.1   Global Solar LED Street Lighting Market (Thousand Units), 2017-2024
Table 4.2   Global Solar LED Street Lighting Market ($Million), 2017-2024
Table 4.3   Global Solar LED Street Lighting Market (by Configuration Type), Thousand Units, 2017-2024
Table 4.4   Global Solar LED Street Lighting Market (by Configuration Type), $Million, 2017-2024
Table 4.5   Global Stand-alone Solar LED Street Lighting Market (by Application), Thousand Units, 2017-2024
Table 4.6   Global Stand-alone Solar LED Street Lighting Market (by Application), $Million, 2017-2024
Table 4.7   Global Stand-alone Solar LED Street Lighting Market (by Region), Thousand Units, 2017-2024
Table 4.8   Global Stand-alone Solar LED Street Lighting Market (by Region), 2017-2024 ($Million)
Table 4.9   Global Grid-type Solar LED Street Lighting Market (by Application), Thousand Units, 2017-2024
Table 4.10   Global Grid-type Solar LED Street Lighting Market (by Application), $Million, 2017-2024
Table 4.11   Global Grid-type Solar LED Street Lighting Market (by Region), Thousand Units, 2017-2024
Table 4.12   Global Grid-type Solar LED Street Lighting Market (by Region), $Million, 2017-2024
Table 5.1   Global Solar LED Street Lighting Market (by Application), Thousand Units, 2017-2024
Table 5.2   Global Solar LED Street Lighting Market (by Application), $Million, 2017-2024
Table 6.1   Global Solar LED Street Lighting Market (by Region), Thousand Units, 2017-2024
Table 6.2   Global Solar LED Street Lighting Market (by Region), 2017-2024 ($Million)
Table 6.3   North America Solar LED Street Lighting Market (by Country), Thousand Units, 2017-2024
Table 6.4   North America Solar LED Street Lighting Market (by Country), $Million, 2017-2024
Table 6.5   Recent Key Developments in North America
Table 6.6   Europe Solar LED Street Lighting Market (by Country), Thousand Units, 2017-2024
Table 6.7   Europe Solar LED Street Lighting Market (by Country), $Million, 2017-2024
Table 6.8   Recent Key Developments in Europe
Table 6.9   Asia-Pacific Solar LED Street Lighting Market (by Country), Thousand Units, 2017-2024
Table 6.10   Asia-Pacific Solar LED Street Lighting Market (by Country), $Million, 2017-2024
Table 6.11   Recent Key Developments in APAC
Table 6.12   Rest-of-the-World Solar LED Street Lighting Market (by Sub-Region), Thousand Units, 2017-2024
Table 6.13   Rest-of-the-World Solar LED Street Lighting Market (by Sub-Region), $Million, 2017-2024
Table 6.14   Recent Key Developments in the Rest of the World

Figure 1 Evolution of Street Lighting
Figure 2 Workflow of Solar LED Street Lighting Market
Figure 3 Global Solar LED Street Lighting Market Snapshot
Figure 4 Global Solar LED Street Lighting Market (by Configuration), Million Units
Figure 5 Global Solar LED Street Lighting Market (by Configuration type), $Million
Figure 6 Global Solar LED Street Lighting Market (by Application), Million Units
Figure 7 Global Solar LED Street Lighting Market (by Application), $Million
Figure 8 Global Solar LED Street Lighting Market (by Country and Sub-Region), Million Units
Figure 9 Global Solar LED Street Lighting Market (by Country and Sub-Region), $Million
Figure 1.1 Market Dynamics
Figure 1.2 Impact of Drivers During the Forecast Period
Figure 1.3 Energy Consumption (Mtoe) by Different Countries (2016)
Figure 1.4 Impact of Using Smart & Solar LED Street Lighting
Figure 1.5 Decreasing Average Selling Price (ASP) of LED Bulbs, 2009-2020
Figure 1.6 Impact Analysis of Restraints During the Forecast Period
Figure 1.7 Impact Analysis for Opportunities During the Forecast Period
Figure 2.1 Competitive Landscape
Figure 2.2 Key Strategies and Developments
Figure 2.3 Porter’s Five Forces Analysis
Figure 3.1 Industry Analysis
Figure 3.2 Workflow of Solar LED Street Lighting Market
Figure 3.3 Types of Solar Panel
Figure 3.4 Types of Controllers
Figure 3.5 Types of Batteries
Figure 3.6 Parameter Analysis of Different Types of Batteries
Figure 3.7 Evolution of Street Lighting
Figure 3.8 Comparison of Traditional Lighting and Solar Street Lighting
Figure 3.9 LaaS Business Model
Figure 3.10 Global Solar LED Street Lighting Supply Chain
Figure 4.1 Configurations of Global Solar LED Street Lighting
Figure 4.2 Global Solar LED Street Lighting Market Snapshot
Figure 4.3 Global Solar LED Street Lighting Market (by Configuration), Million Units
Figure 4.4 Global Solar LED Street Lighting Market (by Configuration type), $Million
Figure 4.5 Stand-alone Solar Lighting System
Figure 4.6 Global Stand-alone Solar LED Street Lighting Market (by Application), Million Units
Figure 4.7 Global Stand-alone Solar LED Street Lighting Market (by Application), $Million
Figure 4.8 Global Stand-alone Solar LED Street Lighting Market (by Region), Million Units
Figure 4.9 Global Stand-alone Solar LED Street Lighting Market (by Region), $Million
Figure 4.10 Grid-type Solar Lighting System
Figure 4.11 Global Grid-type Solar LED Street Lighting Market (by Application), Million Units
Figure 4.12 Global Grid-type Solar LED Street Lighting Market (by Application), $Million
Figure 4.13 Global Grid-type Solar LED Street Lighting Market (by Region), Million Units
Figure 4.14 Global Grid-type Solar LED Street Lighting Market (by Region), $Million
Figure 5.1 Applications of Global Solar LED Street Lighting Market
Figure 5.2 Global Solar LED Street Lighting Market (by Application), Million Units
Figure 5.3 Global Solar LED Street Lighting Market (by Application), $Million
Figure 5.4 Solar LED Street Lighting in Commercial Lighting
Figure 5.5 Solar LED Street Lighting in Residential Lighting (2017-2024)
Figure 5.6 Solar LED Street Lighting in Industrial Lighting (2017-2024)
Figure 6.1 Global Solar LED Street Lighting Market (by Country & Sub-Region), Million Units
Figure 6.2 Global Solar LED Street Lighting Market (by Country and Sub-Region), $Million
Figure 6.3 North America Solar LED Street Lighting Market (by Country), Million Units
Figure 6.4 North America Solar LED Street Lighting Market (by Country), $Million
Figure 6.5 U.S. Solar Street Lighting Market, 2017-2024
Figure 6.6 Canada Solar Street Lighting Market, 2017-2024
Figure 6.7 Mexico Solar Street Lighting Market, 2017-2024
Figure 6.8 Europe Solar LED Street Lighting Market (by Country), Million Units
Figure 6.9 Europe Solar LED Street Lighting Market (by Country), $Million
Figure 6.10 U.K. Solar Street Lighting Market, 2017-2024
Figure 6.11 Germany Solar Street Lighting Market, 2017-2024
Figure 6.12 Rest-of-Europe Solar Street Lighting Market, 2017-2024
Figure 6.13 APAC Solar LED Street Lighting Market (by Country), Million Units
Figure 6.14 APAC Solar LED Street Lighting Market (by Country), $Million
Figure 6.15 India Solar Street Lighting Market, 2017-2024
Figure 6.16 China Solar Street Lighting Market, 2017-2024
Figure 6.17 Rest-of-APAC Solar Street Lighting Market, 2017-2024
Figure 6.18 RoW Solar LED Street Lighting Market (by Sub-Region), Million Units
Figure 6.19 RoW Solar LED Street Lighting Market (by Sub-Region), $Million
Figure 6.20 Middle East and Africa Solar Street Lighting Market, 2017-2024
Figure 6.21 Latin America Solar Street Lighting Market, 2017-2024
Figure 7.1 Profiles by Ownership Type
Figure 7.2 Anhui Longvolt Energy Co., Ltd.: SWOT Analysis
Figure 7.3 BISOL Group, d.o.o.: SWOT Analysis
Figure 7.4 Bridgelux, Inc.: SWOT Analysis
Figure 7.5 COVIMED SOLAR: SWOT Analysis
Figure 7.6 Dragons Breath Solar: SWOT Analysis
Figure 7.7 Greenshine New Energy: SWOT Analysis
Figure 7.8 Orion Solar: SWOT Analysis
Figure 7.9 Signify Holding: Overall Financials, 2015-2017
Figure 7.10 Signify Holding: Net Revenue (by Region), 2015-2017
Figure 7.11 Signify Holding: Net Revenue (by Business Segment), 2015-2017
Figure 7.12 Signify Holding: SWOT Analysis
Figure 7.13 Sol Inc.: SWOT Analysis
Figure 7.14 Solar Electric Power Company: SWOT Analysis
Figure 7.15 Solar Lighting International: SWOT Analysis
Figure 7.16 Solar G: SWOT Analysis
Figure 7.17 Solex Energy Limited: SWOT Analysis
Figure 7.18 Su-Kam Power Systems, Ltd.: SWOT Analysis
Figure 7.19 Sunna Design SA: SWOT Analysis
Figure 8.1 Scope of the Report
Figure 8.2 Secondary Data Sources
Figure 8.3 Top Down and Bottom Up Approach
Figure 8.4 Global Solar LED Street Lighting Market Influencing Factors
Figure 8.5 Assumptions and Limitations

Report Description

The process of evolution of smart technology has considerably changed the overall lighting industry in terms of energy and money saving, ensuring increased safety and convenience to the users. The global economy is expected to exhaust more energy resources in the future owing to the rising demand of energy from the developing countries. Additionally, the risk of climate change associated with the use of fossil fuels has made the supply of energy increasingly difficult. Several countries such as the U.S., U.K., Germany, India, and China are opting for various methods in order to decrease the carbon dioxide concentration in the atmosphere.

Street lighting has been into existence even before the electricity was first introduced. Prior to that, fire-based lamps were setup on the sides of the streets. There have been several developments in the street lighting, thus making it an efficient and inexpensive method of lighting.

The solar LED street lighting market is expected to grow at a significant rate during the forecast period. The growth in the market can be attributed to the increasing demand of energy efficient lighting systems. The implementation of Internet of things (IoT) with lighting is expected to increase the adoption of solar LED lighting worldwide.

The demand for solar LED street lighting solutions vary according to various geographical regions. The solar LED street lighting market holds a prominent share in various countries of North America, Asia-Pacific (APAC), Europe, and the Rest-of-the-World (RoW). Geographically, APAC led the global solar LED street lighting market in 2017 in terms of volume and value. Additionally, APAC region is expected to dominate the market throughout the forecast period 2018-2024 and grow at a CAGR of 11.9%. Rising environmental concerns are expected to drive the growth of the APAC region for the global solar LED street lighting market. RoW region is expected to grow at the highest CAGR of 14.2% during the forecast period with the rising consumer awareness campaigns and subsidies provided by the government to boost the solar LED street lighting market across the Middle East and Africa.

The major countries in the APAC solar LED street lighting market include China and India. India accounted for the majority share in the year 2017. This is majorly due to the difficulty faced by most of the rural areas in the country in accessing energy due to long transmission lines and inadequate electrification, leading to the adoption of solar LED street lighting in India. Solar LED street lighting helps to fulfil the requirements of the consumers at a lower cost. Furthermore, Government of India is working towards the solar LED street lighting adoption by offering products at subsidized rates.

In the past five years, the global solar LED street lighting market has witnessed several strategic and technological developments undertaken by the different market players to attain their respective market shares in the emerging domain. Some of the strategies that have been adopted by the solar LED street lighting solution providers are expansions, new product launches, partnerships, collaborations, contracts and agreements, and mergers & acquisitions. Among all the strategies, partnerships & collaborations has dominated the competitive landscape to become the most widely adopted strategy by the solar LED street lighting key industry players. The key market players in the global solar LED street lighting market are Signify Holding, Anhui Longvolt Energy Co. Ltd., Solar Electric Power Company, Su-Kam Power Systems Ltd., BISOL Group, d.o.o., Greenshine New Energy, Solar Lighting International, Solar G, Orion Solar, Solex Energy Limited, Dragons Breath Solar, Sol Inc., Bridgelux, Inc., Sunna Design SA, and Covimed Solar.

The report is a compilation of different segments of global solar LED street lighting market including market breakdown by configuration type, region, and application. The report further takes into consideration market dynamics and competitive landscape. The report also discusses in detail about the key participants involved in the industry.

Key Questions Answered in this Report

Key questions answered in the report

• What will be the global Solar LED Street Lighting market value by 2024 along with the estimated CAGR?
• What are the driving factors for the global Solar LED Street Lighting market through 2017 to 2024?
• Which factors are impeding the growth of the global Solar LED Street Lighting market?
• What are the recent trends and developments in the global Solar LED Street Lighting industry?
• Which Global Solar LED Street Lighting type will lead the global Solar LED Street Lighting market by 2024?
• What is the revenue generated by Solar LED Street Lighting (types) across different application verticals during the forecast period?
• Which application will dominate the global Solar LED Street Lighting market by 2024?
• Which region will lead the global Solar LED Street Lighting market by 2024?

Market Overview

Street lighting has been in existence even before electricity was first introduced. Prior to that, fire-based lamps were setup on the sides of the streets. There have been several developments in the street lighting, thus making it an efficient and inexpensive method of lighting.

The global solar LED street lighting market is expected to grow at a CAGR of 16.5% in terms of volume and 13.2% in terms of value during the forecast period 2018-2024. The growth in the market can be attributed to the increasing demand of energy efficient lighting systems. The implementation of Internet of things (IoT) with lighting is also expected to increase the adoption of solar LED lighting, worldwide.

One of major driving factors for the significant growth in the global solar LED street lighting market has been the rise in the energy consumption globally. The rising demand for electrical energy is affecting traditional lighting products as they are low energy efficient; hence, manufacturers and consumers are urged to switch to more energy-efficient products. Additionally, the current trends of energy consumption in the world suggest that in future, countries across the world will need to develop alternate sources of energy (renewable) to fulfill the growing energy demand, as the current oil prices are rising, and the reserves are depleting. Urbanization has resulted in increased consumption of electricity and CO2 emissions in the cities. With the advent of smart cities, the energy consumption is expected to reduce by a significant amount. Furthermore, the cost of the components used in the solar LED street lighting has been decreasing. The price of LEDs, batteries, and solar panels is decreasing. The governments of different countries have taken up initiatives to increase the usage of solar LED street lighting worldwide. This includes the solar LED street lighting to be enforced in different cities of various countries.

However, the market consists of certain challenges, which inhibit the overall growth of the global solar LED street lighting market. The adoption of the solar LED street lighting is a very positive step toward enhancing the environment and also toward the conservation of the non-renewable fossil fuels. However, the market faces one issue standing in its way to be widely used throughout. The initial setup cost of the solar LED street lighting system, is very high in comparison with the cost of the traditional lighting setup. Companies also face a challenge in the market, as there is a competition due to the available counterfeit products. These counterfeit products imitate the original solar modules and are circulated throughout the market. Apart from that, the companies also need to keep a check on all the new products available in the market and also if any counterfeit products are being sold in the market.

The evolving market trends and technological developments provide major opportunities for the global solar LED street lighting market. The innovations in the market help in boosting up the usage of the solar LED street lighting systems. These innovations include the introduction of new technologies, such as Internet of Things (IoT) and connected lighting. The growth of connected appliances and internet of things (IoT) offers smart lighting solutions which have started to penetrate the solar LED street lighting market. The only challenge faced in the adoption of solar LED street lighting is the high initial cost. This can be easily overcome by the adoption of the “as a service” model for the solar lighting industry. The Solar-as-a-Service (SaaS) gives the homeowners a low-cost option with a variety of benefits which last till the service agreement duration.

The solar LED street lighting solutions are widely used in residential, commercial and industrial applications. Of all the applications for solar LED street lighting solutions, it is expected that the commercial application would dominate the market throughout the forecast period 2018-2024, growing at a CAGR of 14.7%. The increasing demand for solar street lighting across areas such as pathways, subways, public area lighting, and parking lots, among others are driving the demand for the commercial application.

Geographically, APAC led the global HCL market in 2017 in terms of volume and value and the region is expected to witness the highest growth during the forecast period (2018-2024). APAC region is expected to dominate the market throughout the forecast period 2018-2024 and grow at a CAGR of 11.9%. Rising environmental concerns are expected to drive the growth of the APAC region for the global solar LED street lighting market. RoW region is expected to grow at the highest CAGR of 14.2% during the forecast period with the rising consumer awareness campaigns and subsidies provided by the government to boost the solar LED street lighting market across the Middle East and Africa.

In the past three years, the global solar LED street lighting market has witnessed several strategic and technological developments undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies that have been adopted by the solar LED street lighting providers are expansions, new product launches, partnerships, collaborations, contracts and agreements, and mergers and acquisitions. Among all the strategies, partnerships and collaborations have dominated the competitive landscape to become the most widely adopted strategy by the solar LED street lighting system providers. The key market players in the global solar LED street lighting market are Signify Holding and Anhui Longvolt Energy Co., Ltd, Solar Electric Power Company, Su-Kam Power Systems Ltd., BISOL Group, d.o.o., Greenshine New Energy, Solar Lighting International, Solar G, Orion Solar, Solex Energy Limited, Dragons Breath Solar, Sol Inc., Bridgelux, Inc., Sunna Design SA, and Covimed Solar.