From 2016 to 2020, the global solar street lamp market is expected to grow at a compound annual growth rate of 19%. The global solar street light market is subdivided into two products, fluorescent and LED lights. Currently the market is dominated by fluorescent lamps, accounting for 62% market share.
The rapid growth of solar street lamp market is mainly to meet the growing needs, reduce the power consumption of street lamps, residents and pedestrians to protect the safety.
Asia Pacific accounted for 46% of the market in 2015, Europe Middle East and Africa 30%, Americas 23%
Asia Pacific: Chinese and Indian governments take incentives to boost growth
Asia-Pacific region to occupy the largest market share. This is mainly due to the promotion of energy-saving lamps in countries such as India and China. In addition, there are many LED chips and packaging plants in China, Japan, South Korea and Taiwan.
The Indian government focuses on the development of smart cities with the goal of building at least 100 smart cities by 2030. Unlike traditional streetlights, solar LEDs are cost-effective because they do not need to be connected to the grid and are very viable in sunny countries and are ideal for off-grid use. Even after dark, solar street lights in remote areas are still working, which will raise the living standards of local people. These factors will lead 1000 villages to take the initiative to install solar LED lights. Many villages in India, China and Africa have installed solar LED street lights.
Europe, Middle East and Africa: There is huge potential for growth in the African solar streetlight market
In 2015, Europe was the second largest contributor to the global solar street lighting market. The market is largely driven by the government's goal of energy efficiency and renewable energy, which in turn drives the installation of European solar street lights. In the UK, street lights account for about 40% of the energy consumption, so the government combines solar energy and LED lights. This program helps to reduce CO2 emissions while saving energy costs. An international famous lighting company has introduced a solar street light product that helps transform the traditional lighting used in energy-efficient street lighting systems.
Southern Europe and the Middle East sunshine, off-grid system can be used.
The Egyptian government is installing solar street lights to reduce the load on the grid. Many parts of Africa still rely on traditional lighting. Several cities in the region have installed solar street lighting systems to improve the social and economic conditions of rural and urban populations.
Americas: Brazil and the United States have the highest demand for solar street lights
The U.S. government vigorously promotes the energy saving industry. The cost of LEDs and solar panels is declining, improving performance and driving the installation of solar street lights in the United States. In 2016, Las Vegas partnered with EnGoPLANET, a New York-based company, to install solar-powered streetlights to change traditional energy sources and use renewable and renewable energy.
Although the United States dominates the solar street lamp market in North America, Brazil is a leader in the South American solar streetlight market. Brazil has invested heavily in LED street lights since 2013. The R20 Hub in Brazil is a leading large-scale LED street lighting solution with the goal of covering 1.5 million street lights in 13 cities across the country to reduce grid pressure.