Solar Street Lighting Market Trends 2016 - 2024 sep 2016 | Page 3

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Nigeria spearhead the solar street lighting market in Africa with need for clean and reliable source of offgrid electricity. Europe was the third-largest market for solar street lighting, in terms of market share, in 2015. Germany and U. K were the leading countries with highest revenue realization from solar street lighting in 2015. The market in Africa is expected to witness significant growth in the near future and would surpass the growth rate of Asia Pacific market by 2018. This expected growth is the result of numerous initiatives such as subsidies, campaigns, and different programs introduced by the World Bank and International Finance Corporation to promote solar street lighting products.
The market in Africa is expected to expand at the highest CAGR during the forecast period. Government policies, local manufacturing, and demand for clean fuel off grid electricity would drive the demand for solar street lighting in Africa.
Some of the key manufacturers of solar street lighting are Philips Lighting Holding B. V., Omega Solar, Bridgelux, Inc., Dragons Breath Solar, SOKOYO Solar Group, Solektra International, Sunna Design, Urja Global Ltd., VerySol GmbH, Solar Street Lights USA and Sol, Inc
The Solar Street Lighting market has been segmented as follows:
Solar Street Lighting Market: By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South and Central America
Solar Street Lighting Market: By Type
• Standalone
• On Grid
Solar Street Lighting Market: By Application
Transparency Market Research
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