The report, titled “Global Hybrid Street Lighting Systems Market 2017-2021,” states that the market will exhibit a promising 7% CAGR from 2017 to 2021. The market will be chiefly driven by government support and the increased collaboration between local governments, regional NGOs, and international organizations, aimed at the improvement of infrastructure and living conditions of citizens, will also drive the market. Rapid pace of urbanization across developing economies will also provide vast growth opportunities to the global hybrid street lighting systems market.
The report segments the global hybrid street lighting systems market into two segments based on type: CFL (compact fluorescent lamp) and LED (light-emitting diode). Of these, the segment of LED lights dominated the global market in 2016 and is expected to remain the dominant segment over the report’s forecast period as well. Factors such as the low annual costs incurred in operating and maintaining LED-based street lighting systems, long lifespans, and high rate of energy efficiency will continue to drive their demand in the near future as well.
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From a geographical standpoint, the report examines the market for hybrid street lighting systems across regions such as Americas (North America and South America), EMEA (Europe, Middle East, and Africa), and APAC (Asia Pacific). Of these, the APAC market for hybrid street lighting systems dominated in 2016 and is expected to remain dominant throughout the forecast period as well. The key factors attributable to the healthy growth prospects of the APAC market include government incentives aimed at the increased adoption of energy-efficient lights across emerging economies such as China and India and the presence of a large number of LED companies in countries such as Japan, China, Taiwan, and South Korea.
The competitive landscape of the global hybrid street lighting systems market features a large number of regional as well as well-established international players. The market is expected to witness a rise in competition in the next few years with rise in the range of products or services available, technological advancements, and increase in mergers and acquisitions as companies focus on expanding their consumer-base and product portfolios.
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Some of the leading and notable players operating in the global hybrid street lighting systems market are Guangzhou HY Energy Technology, Eolgreen, Shanghai Ghrepower Green Energy, UGE, Phono Solar, Dongguan Link Light Solar Energy Science & Tech, Solektra International,Jinhua SunMaster Solar Technology, Airsynergy, Philips Lighting, Omega Solar, Bridgelux, Shenzhen Spark Optoelectronics S&T, Dragons Breath Solar, Solar Street Lights USA, Urja Global Limited, SOKOYO Solar Group, Suneco Green Energy, Su-Kam Power Systems, Suveg Electronics, Covimed Solar, Fosera, Deepa Solar Systems, Tata Power Solar Systems, and Elecssol.
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