A hybrid street lighting system is a standalone outdoor lighting system used to illuminate an open area or a street. The hybrid street lights are powered by solar and wind energy.
Albany, NY -- (SBWIRE) -- 04/27/2017 -- Market Research Hub (MRH) has recently announced the addition of a new report to its vast online offerings. This research report discusses the global hybrid street lighting systems market and is titled as "Global Hybrid Street Lighting Systems Market 2017-2021". This research study provides information about the present scenario and the growth prospects of the global hybrid street lighting systems market for 2017-2021. It also presents an exhaustive overview of the market by way of study, synthesis, and summation of information from multiple reliable sources.
The report predicts that the global hybrid street lighting systems market will rise at an impressive CAGR of 7.02% during the forecast period 2017-2021. The increase in government spending on renewable sources is one of the primary growth drivers for this industry. The increased collaboration between the international organizations, local governments and regional non-governmental organizations (NGOs) is also likely to contribute towards the growth of the hybrid street lighting market.
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This research report provides an extensive executive summary covering the market revenue & volume in global and regional markets and also presents a market snapshot, along with major recent developments and market indicators. The report includes detailed value chain analysis, which provides an all-inclusive view of the global street lighting systems. Moreover, Porter's five forces analysis model have also been included to provide a proper understanding of the competitive landscape in the market.
Further, the report segregates the global market on the basis of product and geography. Segmentation based on the product are into LED and CFL. The LED product segment dominates the global hybrid street lighting market and is likely to continue this dominance over the next few years. Factors responsible for this dominance are low annual operating costs, increased lifespan of LEDs and high-efficiency rates. The geographical regions included in the report are as follows:
Middle East & Africa
Among these regions, Asia Pacific is the largest regional segment for the global hybrid street lighting systems market and is expected to remain dominant throughout the forecast period. The main contributors towards their market's growth are government incentives for environment-friendly lights in regions such as India and China, and the presence of a large number of LED chip and packaging factories in South Korea, China, Japan and Taiwan.
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The global hybrid street lighting systems market is highly competitive due to the presence of well-established international and regional players. The market competition is expected to grow further with a rise in product range, development of new technologies and M&A activities. Moreover, the key players operating in the global market are Eolgreen, Phono Solar, Shanghai Ghrepower Green Energy, Guangzhou HY Energy Technology and UGE among others.
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