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What are the market prospects for solar street lights?

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2021-10-28 09:48:01

Market Prospects For Solar Street Lights

Solar Street Lighting is a critical facility for both urban and rural areas. As well as potentially preventing road accidents, proper street lighting benefits both pedestrians and drivers in a variety of other ways. Traditional street lights are powered by electricity, which is heavily reliant on fossil fuels. Solar energy saves energy while providing high-quality lighting. As public awareness of the benefits of solar energy grows, several countries have installed solar lights in homes, gardens, public places, and parks. The global Solar Street Lighting Market is expected to exceed 21.02 percent by the end of 2021. Cleaning Energy is a long-term strategic development; the demand for solar panels will be enormous in the future. At the moment, more and more solar street light can be seen on the road, and there are many solar street lights to be installed in the countryside from top 10 solar street light manufacturer; it has become popular in our daily lives. As a result, solar street lights have become a new development trend and have led the way in the lighting industry’s new development.

Solar street lights are energy-efficient, environmentally friendly, safe, do not require paving, are simple to install, and can be controlled automatically, among other benefits. The most common types of solar street lights are motion sensor solar powered outdoor lighting, solar street lighting, solar lawn lighting, solar landscape lighting, and solar signal lighting. With the scarcity of global resources, the cost of basic energy is rising, safety and pollution concerns are widespread, the cost of international basic energy is rising, energy supply is tight, and alternative energy is gaining traction. Solar energy has gradually replaced traditional energy for city production and basic energy for lives as an infinite renewable energy source. After the widespread use of solar heat, solar lighting has emerged as one of the most important solar applications, gaining increasing attention from the energy and lighting industries.

Solar Street Light Market Size

Solar street light is powered by solar, it is to use solar power to charge in the daytime, and battery discharges to provide power supply for lighting source at night, safety, energy-saving and non-polluting, save electric cost, maintenance free, promising prospect, environmentally friendly, and it can be widely applied for farm yard, noble residence, plant, construction plant, villa, garden, road, and so on. According to data research, the global market for solar street lights had a total sales volume of 1.45 billion dollars in 2012, which has since increased to 2.95 billion dollars in 2017. The market volume for solar street lights is expected to reach $6.45 billion by 2022. From 2017 to 2022, the annual compound growth rate of solar street lights would be 16.92 percent.

The Asian-Pacific region has the largest global market share, with a 35.56 percent market share in 2012 and a 38.93 percent market share in 2017, an increase of 3.37 percent. The African and Middle Eastern markets are trailing APAC, with market shares of 27.51 percent in 2016. Furthermore, The APAC market for solar street lights is expected to grow at the fastest rate, with countries such as China, India, the Philippines, Thailand, and Vietnam benefiting from rising per capita incomes. The growth of the solar street light market is primarily driven by downstream applications. Furthermore, most governments implement a variety of positive policies to encourage the use of solar street lights, owing to their environmental benefits and cost-effectiveness. A sophisticated solar street lighting system can save a significant amount of energy. From above, we can predict that solar street lights will become increasingly popular and common. It is a country’s responsibility to develop solar street lights.

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Solar Light Magazine / Solar Street Lights / Author: Cmoonlight

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