In 2017, Asia Pacific accounted for 46% of the market, Europe Middle East and Africa accounted for 30%, and the Americas accounted for 23%. Asia Pacific: Chinese and Indian Governments Take Incentives to Promote Growth.
The Asia Pacific region holds the largest market share. This is mainly due to the promotion of energy-saving lamps in countries such as India and China. In addition, China, Japan, Korea, and Taiwan have many LED chips and packaging plants.
The Indian government is focused on developing smart cities and aims to build at least 100 smart cities by 2030. Unlike conventional streetlights, solar-powered LEDs are extremely cost-effective because they do not require connection to the grid and are feasible in sunny countries and are ideal for off-grid use. Even after dark, solar street lights in remote areas can still operate normally, which will improve the living standards of local people. These factors will prompt 1000 villages to actively install solar LED street lights. Many villages in India, China and Africa have installed solar LED street lights.
Europe, the Middle East and Africa: The potential for growth in the solar street light market in Africa is huge
In 2017, Europe was the second largest revenue contributor to the global solar street lighting market. The market is mainly driven by the government's energy efficiency and renewable energy goals, which in turn has led to the installation of European solar street lights. In the UK, street lamps account for about 40% of energy consumption. Therefore, government authorities combine solar energy and LED lamps. This program helps reduce CO2 emissions while saving energy costs. Philips has launched a solar street light product that will help transform traditional lighting used in energy-saving street lighting systems.
Southern Europe and the Middle East are sunny and can be used off-grid systems.
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, which have improved 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 conservation industry The cost of LEDs and solar panels has declined, improving performance and driving the installation of solar street lights in the United States. In 2017, Las Vegas partnered with EnGoPLANET, a New York company, to install solar street lights to change traditional energy sources and use renewable and renewable energy sources.
Although the United States dominates the solar street light market in North America, Brazil is a leader in the solar street light market in South America.
Brazil has invested heavily in LED street lights since 2013. Brazil’s R20Hub is a leading large-scale LED street lighting solution that aims to cover 1.5 million streetlights in 13 cities across the country to reduce grid stress.
From 2016 to 2020, the global solar street light market is expected to grow at a compound annual growth rate of 19%. The global solar street lamp market is subdivided into two products, fluorescent lamps and LED lamps. At present, the market is dominated by fluorescent lamps, with a market share of 62%.
The rapid growth of the solar street lamp market is mainly to meet the growing needs, reduce the power consumption of street lamps, and protect the safety of residents and pedestrians.