Transparency Market Research has published a new report "Solar Street Lighting Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023" to its report store.
Albany, NY -- (SBWIRE) -- 01/05/2016 -- The new research study from Transparency Market Research, titled "Solar Street Lighting Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023", delivers a 360-degree view of the market. An in-depth analysis of the global solar street lighting market is available in the report with key drivers and restraints. The study provides a clear future outlook of the global solar street lighting market with the growth opportunities for new entrants and established players operating in this market.
Browse Solar Street Lighting Market Report with Full TOC at : http://www.transparencymarketresearch.com/solar-street-lighting-market.html
The demand for energy is on the rise. Furthermore, the depleting levels of fossil fuels are further exacerbating the demand for energy. Hence, the popularity of alternative energy sectors such as solar has gained a positive momentum in the past few years. Moreover, the solar sector has grown substantially in the past year. In the solar industry, the solar street lighting market is projected to expand steadily in the coming few years.
Presently, street light manufacturers are investing in products that are energy-efficient and offer off-grid power solutions. This is projected to support the growth of the global solar street lighting market. In addition to this, solar street lighting works as a viable solution regardless of the terrain they are installed in. It also helps cut down the energy load on the economy and, in turn, offers fiscal savings for the government and taxpayers. Another advantage of solar street lighting is that it requires negligible maintenance cost as no wiring or transformer costs is involved. Solar street lighting (SSL) also aids in reducing the overall carbon footprint. The numerous advantages associated with solar street lighting products will drive their demand worldwide.
Nevertheless, there are certain factors that will restrain the growth of the global solar street lighting market. This technology is relatively new and consumers and industry stakeholders are not yet aware of the aforesaid advantages of this technology, jeopardizing their decision-making process. Furthermore, globally, this technology is not feasible in areas where there is no sunlight or not adequate sunlight all year round. Solar street lighting is still in its innovation phase and the lack of standardization will suppress the global solar street lighting market. Some of the issues that have stemmed due to the lack of standardization of this technology are over-designing, lack of quality, and under-designing. Being at its nascent stage, the solar street lighting technology has yet to create a substantial impact in several nations and it might be years before this technology can be implemented on a large scale.
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However, this means there are a wealth of opportunities for market players, including both SMBs and MNCs, in the global solar street lighting market. Some of the key players operating in the global solar street lighting market are Su-Kam Power Systems, Koninklijke Philips, ON Semiconductor, Solar Street Lights USA, and Clear Blue Technologies.
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