Fiberglass Light Pole Market worth over $550 million by 2026
Published Date: August 3, 2020 Authors: Preeti Wadhwani, Smriti Loomba
Fiberglass Light Pole Market size is set to surpass USD 550 million by 2026, according to a new research report by Global Market Insights, Inc.
The fiberglass light poles industry is expected to undergo a dynamic transition as advancements in fiberglass manufacturing technologies and improvements in material quality have spurred the deployment of fiberglass-based light poles. Fiberglass leverages the inherent strength of fiber-reinforced plastic to provide excellent resilience and sturdiness against harsh climatic conditions. Furthermore, it is non-conductive to electricity and ensures the minimum risks of electrical shocks during cases of power supply anomalies.
Growing investments in smart city projects to support the fiberglass light pole market
Smart lighting and smart poles are increasingly gaining traction among government agencies for their implementation in smart cities. Smart lighting has been recognized as one of the most actionable and ready to implement technologies in urban cities, leading to Low-Carbon Economies (LCEs) and reducing the environmental pollution. This has led to an increase in the deployment of fiberglass poles for smart lighting purposes.
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The rising price of metals is another factor supporting fiberglass light pole market growth. Flat-rolled steel prices have been steadily rising since October 2019. Surging prices of metals including steel and aluminum have pressurized light pole manufacturers to look for alternative materials, leading to an increased deployment of composite fibers and fiberglass-based light poles.
Browse key industry insights spread across 237 pages with 369 market data tables and 22 figures & charts from the report, “Fiberglass Light Poles Market Size By Type (Square Straight Fiberglass Pole, Round Tapered Fiberglass Pole), By Application (Commercial, Residential, Government), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Square straight fiberglass light poles are preferred by architects and designers due to their modern design
The square straight fiberglass light pole market is projected to grow at 4% CAGR during 2020-2026 driven by rising demand for modern design poles from architects, planners, and engineers. The square straight fiberglass pole features a robust & composite structure that makes it an effective alternative and can be embedded directly into the soil. Furthermore, its contemporary design and lightweight structure offer an easy installation. Companies operating in the market offer a wide range of square straight lighting poles. For instance, Valmont Industries, Inc. provides Straight Square Series fiberglass lighting poles with a wide range of colors and sizes.
Growing demand for robust and durable lighting systems across commercial buildings to support the fiberglass light pole market growth
The commercial application held a market share of more than 30% in 2019. The growing market demand for robust & durable lighting systems across commercial facilities will fuel the segment growth. Fiberglass light poles offer durability and lightweight structure along with flexibility compared to other light poles. The lightweight nature of the pole eliminates the need to deploy heavy equipment for installation. The durability of fiberglass light poles enables them to withstand harsh climate conditions such as storm and heavy rains.
Anchor-based and direct bury fiberglass poles have gained more popularity for their commercial purposes. Direct bury fiberglass poles eliminate the need for base foundation due to their unique structure that can be mined directly into the soil. Furthermore, anchor-based fiberglass poles feature a metal base that can be bolted in a concrete foundation using anchor bolts. Fiberglass poles are specifically used in windy & harsh weather environments and are also a great choice for beachfront locations.
Growing investments in fiberglass production facilities in Europe
Europe fiberglass light pole market held 20% share in 2019 owing to the demand for lightweight poles across the manufacturing industries and tourist locations in the region. Major manufacturing facilities in the region are deploying fiberglass light poles to reduce maintenance costs. Tourist attractions, such as malls, resorts, and parks, are adopting fiberglass light poles due to their simplified installment process and longer life span. These light poles are preferred in restaurants located at beachfront due to their ability to withstand harsh environments.
Focus on new product development by key players
The companies operating in the market are emphasizing on developing new products to maintain their stronghold on the light pole market. For instance, in March 2020, Acuity Brands, Inc. launched the ENVEX series LED fixtures from Lithonia Lighting. The new solution features smooth transition zones and low lumen density to provide a uniform & volumetric distribution of light. This launch helped the company to provide high-performance lighting fixtures with enhanced capabilities.
Some of the major players operating in the fiberglass light pole market include Aeron Composite Pvt. Ltd., Alliance Composites, Inc., Creative Composite, Elsewedy Electric, Jindal Power Corporation, Lithonia Lighting (Acuity Brands, Inc.), Main Street Lighting, Inc., NAFCO International, Inc., Nantong Wellgrid Composite Material Co., Ltd., PLP Composite Technologies, Inc., Shanghai Tung Hsing Composites Co., Ltd., Valmont Industries, Inc., and Wood Preservers, Inc.