Fiberglass Light Poles Market estimated to gain high demand by 2026

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Fiberglass Light Poles Market Regional Analysis
and Revenue Forecast during 2020 2026

• Driven by rapid development of smart city
  projects and street lighting infrastructure
  across several countries, the global fiberglass
  light poles market is poised to observe a
  commendable growth over the ensuing years.
  Moreover, considerable advancements in the
  fiberglass technology coupled with rising demand
  for lightweight and robust strength light poles
  will propel the industry outlook. According to
  Global Market Insights, Inc. report fiberglass
  light poles market is estimated to surpass USD
  550 million by 2026.
• Considering the enormous opportunities for street
  lighting installation, several industry players
  are focusing on implementing business strategies
  pertaining to mergers and acquisitions in order
  to expand their production capacity as well as
  bolster their global footprint. For instance, in
  2020, Signify, one of the leaders in lighting
  industry announced the acquisition of Cooper
  Lighting Solutions which is expected to help them
  enhance their connected lighting solutions and
  optimize their operational efficiency.

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• Growing urban residential and commercial projects
  find extensive usage of fiberglass light poles
  for street lighting on account of their conducive
  attributes including excellent sturdiness and
  resilience against adverse climatic conditions,
  which has to some extent, influenced the overall
  expansion of the market.

• In terms of product type, round tapered
  fiberglass segment is estimated register 3 CAGR
  over the analysis timeline on account of surging
  demand for outdoor lighting applications. The
  product offers UV-inhibiting polyurethane coating
  along with maximum nominal mounting height up to
  40 and a wider base. Additionally, growing need
  for decorative lighting poles will significantly
  contribute to the segmental growth.

• Based on the application bifurcation, government
  applications and projects are expected to witness
  an elevating demand for durable and low-cost
  light poles which will positively influence the
  growth of fiberglass light poles market over the
  forthcoming years. Government application segment
  had secured a market share of over 40 in 2019
  and may register 3.0 CAGR through 2026, on
  account of large scale use of fiberglass light
  poles for enhancing lighting conditions in
  highways, museums, waterways and parks projects.
  Further, fiberglass light poles offer extended
  lifespan and durability while boasting of the
  non-conductive and anti-corrosion materials which
  makes them appropriate for government applications

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• Regional Analysis

• Based on regional terrain, Asia Pacific
  fiberglass light poles market is projected to
  dominate the overall industry with an overall
  business share of more than 39 by 2026. This
  growth can be attributed to rising preference for
  multi-functional light poles in the countries
  including Japan, China and India. Moreover,
  increasing initiatives by various country led
  companies would also stimulate the regional
  market dynamics in the coming years.

• Competitive Analysis

• The companies operating in the market such as PLP
  Composite Technologies, Aeron Composites Pvt
  Ltd., ElsewedyElectric.com, Valmont Industries
  Inc. and Lithonia Lighting, Inc. are also laying
  immense focus on launching a wide range of robust
  fiberglass light poles.

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