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NEWARK, UNITED STATES, October 12, 2022 /EINPresswire.com/ -- As per the report published by Fior Markets, the global Fiberglass light poles market is expected to grow from USD 580 Million in 2020 to USD 843.95 Million by 2028, growing at a CAGR of 12% during the forecast period 2021-2028.

The fiberglass light poles market is witnessing significant growth form the past years. The market is expected to develop significantly due to the rising demand for lightweight and high-strength light poles and advancements in fiberglass manufacturing processes. In both commercial and residential applications, the demand for fiberglass light poles has skyrocketed. Government regulations have pushed businesses to reduce their carbon footprints, and the majority of companies are replacing their lighting infrastructure with smart lighting. The market's expansion is being aided by the availability of round tapered and square straight fiberglass light poles with anchor or direct burial bases. The fiberglass material is exceptionally durable and resilient in the face of extreme weather. These fiberglass light poles are also employed in metropolitan street lighting systems.

Fiberglass is a very versatile material due to its lightweight, inherent strength, weather-resistant finish, and variety of surface textures. Fiberglass light poles are manufactured using polyester/epoxy resin techniques and fiberglass weave rowing to provide the requisite rigidity and axial strength. Fiberglass light poles offer a variety of benefits that are expected to increase market demand. These light poles have lower installation costs because they don't require cranes due to their minimal weight. Because fiberglass light poles are much easier to install, they generate less traffic. Because they are made of good anti-corrosion material, these light poles are resistant to water, atmosphere, various oil and solvent types, and general concentrations of salt, alkali, and acid.

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Since the COVID-19 viral outbreak in December 2019, the disease has spread to nearly every country globally, causing the World Health Organization to designate it as a public health emergency. The effects of the 2019 coronavirus disease (COVID-19) are already felt globally, and the market for fiberglass light poles was severely impacted in 2020. Over forty countries have declared states of emergency; enormous supply chain delays; stock market volatility; plummeting corporate confidence, increased panic among the populace, and concern about the future have all been influenced by the COVID-19 epidemic.

Key players operating in the fiberglass light poles market include Aeron Composite Pvt Ltd., Nantong Wellgrid Composite Material Co., Ltd., Jindal Power Corporation, PLP Composite Technologies, Elsewedy Electric, Lithonia Lighting (Acuity Brands), Main Street Lighting, Inc., Valmont Industries, Inc., Alliance Composites, Inc., Creative Composite,

NAFCO International, Inc., Shanghai Tung Hsing Composites Co., Ltd.,  and Wood Preservers, Inc.

NAFCO International, Inc. introduced a new line of high-strength, lightweight fibreglass light poles in December 2019. The company's new poles are rated for severe wind tolerance and are an excellent choice for windy coastal areas. This launch enabled the company to provide a diverse selection of solutions for both residential and commercial applications. Round tapered fiberglass pole segment dominated the market and held the largest market share of 53.21% in the year 2020

On the basis of type, the global fiberglass light poles market is segmented into round tapered fiberglass pole, square straight fiberglass pole. The round tapered fiberglass pole segment led the market and held the largest market share of 53.21% in the year 2020. This growth is attributed to the rising need for decorative lighting poles. Round tapered fibreglass light poles, unlike square straight poles, have a larger base and a maximum nominal mounting height of up to 40 feet. Outdoor lighting applications benefit from round tapered fibreglass lighting poles. The growth of the round tapered fibreglass pole segment will be driven by the demand for attractive lighting poles.

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Residential segment dominated the market and held the largest market share of 28% in the year 2020 On the basis of product, the global fiberglass light poles market is segmented into includes residential, government, commercial. The residential segment dominated the market and held the largest market share of 28% in the year 2020. This growth is attributed to the unique features and shapes of these light poles. Fiberglass light poles enhance the appearance of residential landscapes and neighbourhoods while also providing the necessary lighting to keep the area safe.

Regional Segment of Fiberglass light poles Market

North America (U.S., Canada, Mexico) Europe (Germany, France, U.K., Italy, Spain, Rest of Europe) Asia-Pacific (China, Japan India, Rest of APAC) South America (Brazil and Rest of South America) Middle East and Africa (UAE, South Africa, Rest of MEA) On the basis of geography, the global Fiberglass light poles market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific region led the market with 29.23% market share in the year 2020, due to strategic government initiatives to enhance the energy sector and extensive penetration of fiberglass manufacturing facilities. Several government initiatives to establish fibreglass recycling plants and increase composites production characterise the area industry's growth. The Fiberglass Light Poles market is expected to rise fundamentally due to rising income, increased compensation, and pattern establishing advancement, and contraption, as well as duties for increasing awareness about the necessity. Following Asia Pacific, the market for fibreglass light poles in North America is expected to grow rapidly The enhancement would be achievable owing to marketing research tools and existing players who have firmly established themselves in the market since its inception.

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About the report: The global Fiberglass light poles market is analysed on the basis of value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

Mark Stone Fior Markets + +1-201-465-4211 email us here

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