Fiberglass light poles market to reach $ 550 Mn by 2026

By OEM Update Editorial August 20, 2020 6:09 pm IST

According to a recent study from market research firm Global Market Insights, the fiberglass light poles market is set to grow from its current market value of more than US$ 450 million to over US$ 550 million by 2026, gaining remarkable traction over the 2020 to 2026 period.

The demand for fiberglass light poles in commercial and residential applications has increased drastically. The availability of round tapered and square straight fiberglass light poles with anchor or direct burial base is supporting the market growth. The fiberglass material offers excellent resilience and sturdiness against harsh climatic conditions. In addition, these fiberglass light poles are used in urban street lighting solutions. The high strength-to-weight ratio and easy transportation are enabling the extensive demand for fiberglass light poles.

Fiberglass is considered harmful and continued contact with fiberglass dust can cause severe respiratory issues. Furthermore, national regulatory bodies, such as the National Toxicology Program, have considered fiberglass as a chemical. The lack of safety components and protocols is anticipated to affect the overall growth of the fiberglass light poles market.

“The round tapered fiberglass light pole segment is expected to grow at a CAGR of above 3 percent from 2020 to 2026. The demand for round tapered fiberglass poles across outdoor lighting applications has increased exponentially,” the report said.