Latest Development Trends of Solar Street Lighting Market 2020-2026

According to the latest research report of Global Market Insights, Inc., the market size of solar street lights will exceed US$5 billion in 2024.

The adoption of sustainable development measures by various governments for ecology and the global efforts to reduce greenhouse gas emissions due to economic activities have greatly stimulated the growth of led solar street lights. The growth of economies of scale and government subsidies are some of the main factors that promote product penetration. Furthermore, the increasing need to reduce energy consumption with the large-scale deployment of solar lighting systems in the commercial and residential sectors will drive the industry growth.

The substantial drop in solar cell and panel prices is expected to contribute significantly to the growth of the solar street lighting industry. Rising environmental concerns accompanied by stringent regulatory requirements to reduce carbon emissions through the adoption of efficient energy-saving technologies will drive the industry. Furthermore, leveraging the synergy between demand-side electrification and intermittent renewables is a major factor influencing technology adoption. The Middle East and Africa market will exceed $1.5 billion by 2024. Foreign investment in establishing the energy sector and government initiatives affected by the expansion of the low-carbon economy will drive industry growth. The African Development Bank and the World Bank are the main stakeholders in the current economic development in the region. Substantial progress in renewable energy integration across countries will further boost business growth.

Emerging electricity demand in emerging countries along with rising purchasing power parity will drive solar street lighting market share growth. Lack of connectivity in off-grid areas, increased grid electricity demand, and significantly increased energy demands associated with residential and commercial establishments will increase product adoption. In addition, longer service life, low emission rates, ecological operation and energy efficiency are necessary factors to drive business growth.
Top 12 Solar LED Lights Manufacturers in the U.S. 2022 - SolarFeeds MagazineTop 12 Solar LED Street Lights Manufacturers in China

Top 12 Solar LED Lights Manufacturers in the U.S. 2022 - SolarFeeds MagazineTop 12 Solar LED Street Lights Manufacturers in China

The grid-connected market will witness substantial growth due to increasing product adoption in remote areas. Emerging economies in Asia Pacific and Africa offer considerable opportunities for product deployment due to government plans to increase the use of renewable energy. In terms of favorable government reforms affected by solar network expansion, the increased installation of pico solar systems will further boost the business landscape. Furthermore, the rapid development of sustainable grid coupled with innovative distributed generation technologies will enhance the industry dynamics.

Well-known players in the industry include Dragons Breath, Philips, Bisol, International Solar Lighting, Leadsun, Covimed, SEPCO, Greenshine, American Solar Street Lights, Su-Kam, SOKOYO, Omega, Urja, Orion, SolExide, Bridgelux, Solar G, Solux and Sunna.

We, WOSEN, are also committed to the development of low-carbon energy in the world. As a 30-year-old LED Solar Street Light manufacturer in China, our solar street lights meet the quality needs of various countries.WOSEN is a professional manufacturer and supplier of Led Flood Light, Led Street Light, Led Solar Light, etc. For more information, please visit https://www.wosenled.com/ or contact admin@wosenled.com or WhatsApp +86-13425434349