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South Korea Solar Street Lighting Market
ID: MRFR/EnP/53950-HCR
200 Pages
June 2025
South Korea Solar Street Lighting Market Research Report: By Type (Standalone, On Grid), By Product Type (Compact Fluorescent Lamps (CFL), Light Emitting Diode (LED)) and By Application (Residential, Commercial, Industrial) - Forecast to 2035
Industry Developments
The South Korea Solar Street Lighting Market has seen significant developments recently, particularly with increasing efforts to promote renewable energy solutions. Major companies like Samsung Electronics and LG Electronics are actively engaging in innovations related to solar technologies. In terms of mergers and acquisitions, there were no publicly reported transactions pertaining to the specific companies of interest, such as Hanwha Q CELLS or Korea Electric Power Corporation, in recent months. However, the growth in market valuation for firms like Cypress Energy and Solarever is attributed to rising demand for sustainable infrastructure amidst government initiatives promoting greener urban environments. In the last two years, South Korea has allocated considerable funding toward the development of solar energy, increasing focus on smart city projects, and implementing more solar street lighting solutions across metropolitan areas. The shift towards solar installations aligns with the government's commitment to achieve carbon neutrality by 2050, significantly impacting the market landscape. As of October 2023, the integration of smart technology into solar street lights is becoming a trend, enhancing utility efficiency and urban safety while contributing positively to the overall market growth.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 71.72(USD Million) |
| MARKET SIZE 2024 | 82.47(USD Million) |
| MARKET SIZE 2035 | 334.38(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 13.572% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Cypress Energy, Samsung Electronics, LG Electronics, Soluxtec, Green Rooftop, Solarever, Locus Energy, Solaire Generation, Hyundai Mobis, Sungrow Power Supply, Korea Electric Power Corporation, SolarOn, OCI Company, Shinhan Electric, Hanwha Q CELLS |
| SEGMENTS COVERED | Type, Product Type, Application |
| KEY MARKET OPPORTUNITIES | Government renewable energy incentives, Growing demand for smart cities, Advancements in solar technology, Increasing urbanization and infrastructure development, Rising environmental consciousness among citizens |
| KEY MARKET DYNAMICS | Government regulations and incentives, Increasing urbanization and infrastructure projects, Environmental sustainability focus, Technological advancements in solar efficiency, Cost reduction in solar components |
| COUNTRIES COVERED | South Korea |
FAQs
What is the expected market size of the South Korea Solar Street Lighting Market in 2024?
The South Korea Solar Street Lighting Market is expected to be valued at 82.47 million USD in 2024.
What is the projected market value of the South Korea Solar Street Lighting Market by 2035?
By 2035, the market is projected to reach a value of 334.38 million USD.
What is the expected CAGR for the South Korea Solar Street Lighting Market from 2025 to 2035?
The market is expected to grow at a CAGR of 13.572% from 2025 to 2035.
Which type dominates the South Korea Solar Street Lighting Market?
Both the Standalone and On Grid types hold significant shares, with Standalone valued at 41.24 million USD in 2024 and On Grid at 41.23 million USD.
What market values are associated with Standalone solar street lighting by 2035?
By 2035, Standalone solar street lighting is expected to grow to 166.73 million USD.
What is the expected market value for On Grid solar street lighting in 2035?
On Grid solar street lighting is projected to reach a market value of 167.65 million USD by 2035.
Who are the key players in the South Korea Solar Street Lighting Market?
Major players include Samsung Electronics, LG Electronics, Hyundai Mobis, and Hanwha Q CELLS among others.
What emerging trends are shaping the South Korea Solar Street Lighting Market?
The increase in urbanization and the push for renewable energy solutions are key trends influencing market growth.
What are some growth drivers for the South Korea Solar Street Lighting Market?
Government policies promoting renewable energy and advancements in solar technology are significant growth drivers.
How might global factors impact the South Korea Solar Street Lighting Market?
International energy policies and environmental agreements may significantly influence market dynamics and growth prospects.
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