Interesting https://www.pv-tech.cn/news/solar-energy-news_global-solar-lighting-systems? (Google translated)
PV-Tech News) A research report published by Global Industry Analysis Corporation (GIA) predicts that by 2026, the global solar lighting market will reach 11.2 billion U.S. dollars.
In 2020, the global solar lighting system market is expected to be USD 5.5 billion. Therefore, in order to achieve the revised USD 11.2 billion in 2026, it needs to grow at a compound annual growth rate of 13% during the analysis period. One of the market segments analyzed in the report, the LED market, is expected to grow at a compound annual growth rate of 15.2%, reaching $9.3 billion by the end of this analysis period. After comprehensively analyzing the impact of the epidemic and its economic crisis on business, the compound annual growth rate of other light source sectors in the next 7 years is adjusted to 8.4%, and currently accounts for 36.6% of the global solar lighting system market.
The U.S. market is expected to reach 1.3 billion U.S. dollars in 2021, and China will reach 2.6 billion U.S. dollars in 2026
It is estimated that the US solar lighting system market in 2021 will reach 1.3 billion US dollars. At present, China's share of the global market is 23.08%. China is the world's second-largest economy, and its market size is expected to reach US$2.6 billion in 2026, with a CAGR of 15.2% during the analysis period. Other regional markets worthy of attention include Japan and Canada, which are expected to grow by 9.9% and 10.4% respectively during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of 11.3%, while other European markets (as defined by the research) will reach $3.1 billion at the end of this analysis period.
The increasing popularity of solar street lights will promote the development of the market. Solar street lights have the potential to accelerate the transition to a green, low-carbon future, and they have gained tremendous impetus in various cities. The increasing demand for energy in rural and urban areas has further boosted the demand for these systems. Benefiting from the reduction in the cost of solar photovoltaic modules and other related components, solar energy technology makes solar street lights an attractive alternative to traditional street lights. Even in cloudy or rainy days, solar street lights can work.
Through the use of eco-friendly technologies to reduce carbon emissions, favorable measures taken by the government also support this market. Compared with traditional solutions, the many advantages of solar street light systems will further promote the transition to solar street lights. Solar street lights are sustainable in nature and independent of the grid, which will bring lower operating costs. Compared with traditional street lights, solar street lights have a lower risk of overheating and require less maintenance. The absence of external wires further reduces the risk of accidents such as electric shock and strangulation. Finally, these systems can be easily installed in remote areas that are not served by traditional systems, making them suitable and effective solutions for lighting problems.
(Editor in charge: Selina Shi)