Fiberglass Light Poles Market Opportunity Assessment, Market Challenges, Key vendor analysis, Vendor landscape

The fiberglass light poles market growth is anticipated to be driven by government initiatives to enhance the energy sector and developments in eco-friendly lighting solutions. Light Poles are an important part of a developed society as they light up the roads, walkways, and parking lots. The fiberglass light poles market is also slated to witness tremendous growth owing to the increasing number of smart city lighting initiatives that are focusing on integrating new technologies such as Internet of Things with public infrastructure. Smart city has become one of the important concepts for enhancing the quality as well as performance of urban services. Increasing rate of urbanization over the forthcoming years would fuel the industry growth as well.
With the growth of lighting technology, urban outdoor lighting has undergone various changes in recent years. The launch of IoT in smart cities have created new growth opportunities for the market as infrastructure development efforts focus on new services as well as integrating diverse application domains to the fold using Information and Communication Technologies.
Smart technology is increasingly focusing towards enhancing the quality of life and management of infrastructure, utilizing energy for a greener environment, and improving resident safety, ensuring and expanding their application scope, fueling revenue growth.
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Fiberglass light poles have several advantages that are likely to drive their demand in the market. These types of light poles have low installation costs owing to its light weight, as they do not need cranes to be installed. Since fiberglass light poles are much more simple to install, they cause less traffic. Since these light poles are made out of good anti-corrosion material, they have good resistance to water, atmosphere, several types of oil and solvent, as well as general concentration of salt, alkali, and acid.
These light poles are also maintenance free, for instance fiber reinforced fiberglass poles do not require any maintenance throughout the time of use owing to their corrosion resistance property. In fact, just a protective spray coating can be utilized on the surface of the poles to avoid fading. In comparison to ordinary steel bar, fiberglass poles are also considered as a good insulating material, having a more aesthetic and smooth surface.
Fiberglass light poles market is bifurcated in terms of type, application, and regional landscape.
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From a regional frame of reference, South America fiberglass light poles market is slated to witness CAGR of over 1.4% through the forecast time period owing to the strategic government initiatives to enhance the energy sector.
The Middle East & Africa fiberglass light poles market held a market share of around 5% in 2019 due to extensive penetration of fiberglass manufacturing facilities and developments in eco-friendly lighting solutions.