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. Reportedly, this strategic move helped Signify strengthen its position in North America market with more innovative and competitive product offering.
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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.
Fiberglass light poles market is bifurcated into various segments based on type, application and regional landscape.
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
For instance, in 2019, UK’s Wiltshire Country Council announced investing into Telensa for expanding the facility’s deployment of 7000 PLANet intelligent street lighting systems across the country. The company controls previously installed 35,000 lights in this area. Reportedly, the project has significantly reduced maintenance cost and energy consumptions.
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.
For instance, Bharat Sanchar Nigam Limited (BSNL Ltd.), an Indian public sector telecommunications organization, collaborated with Nokia Corporation for the deployment of fiberglass based smart poles across India. These poles offered features of integrated LED lights and IoT technology for supporting the functionalities of smart cities.
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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.
Citing a vital testament for the aforementioned, . in 2019, NAFCO International, Inc. announced the launch of new high strength & lightweight fiberglass light poles. These new poles are said to possess extreme wind tolerance and are ideal for windy coastal regions. This product helped the company to provide improved offering for residential as well as commercial applications.
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