As per the research report titled ‘Fiberglass Light Poles Market Size By Type, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report, global fiberglass light poles market is predicted to witness significant growth during 2020-2026.
 

Increasing urbanization, rising development of IoT-based (Internet of Things) smart cities, and favorable government initiatives towards environmental protection as well as enhancing the energy sector are augmenting the growth of global fiberglass light poles market.
 

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Additionally, growing emphasis of adopting smart technology in green energy sources in order to enhance safety as well as quality of life is further fueling the market expansion. Advantageous attributes of the products such as light weight, simple & affordable installation, great resistance against corrosion, water, atmosphere, and oils, and minimal maintenance requirements are stimulating the global fiberglass light poles market outlook.
 

Based on type, the market is segmented into round tapered fiberglass pole and square straight fiberglass pole. With regards to application, the industry comprises of government, residential, and commercial.
 

According to the regional analysis of the report, South America fiberglass light poles market is projected to register a CAGR of 1.4% over 2020-2026, primarily due to favorable government initiatives directed towards enhancing the energy sector.
 

On the other hand, Middle East & Africa region accounted for around 5% of global fiberglass light poles industry share in the year 2019 and is predicted to show similar growth during the analysis timeframe. Flourishing eco-friendly lighting solutions sector coupled with high concentration of manufacturing facilities in the region are providing lucrative growth opportunities for Middle East & Africa market.
 

The major players that outline the global fiberglass light poles market trends are Wood Preservers, Inc., Valmont Industries, Inc., Shanghai Tunghsing Composites Co., Ltd., PLP Composite Technologies, Inc., Nantong WellGrid Composite Material Co. Ltd., NAFCO International Inc., Main Street Lighting Inc., Lithonia Lighting, Jindal Power Corporation, Elsewedy Electric Co S.A.E., Creative Composites, Inc., Alliance Composites, Inc., and Aeron Composite Private Limited.