Global Solar LED Lighting Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Global Solar LED Lighting market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
The growth of solar LED lighting is associated with the emerging traction of the individuals towards clean energy coupled with snowballing investments made by the government for the generation of renewable energy. Moreover, the demand has lately been driven for solar technologies, and renovations of conventional electricity generation along with swift technological developments in the design of the product have exponentially catalyzed the demand for solar LED lighting globally and is expected to proliferate during 2020-25.
According to MarkNtel Advisors’ research report “Global Solar LED Lighting Market Analysis, 2020”, the Global Solar LED Lighting market is anticipated to grow at a CAGR of around 20.50% during 2020-25. Besides, ongoing innovations advancements in the designs of product that lowered the remote areas lighting costs that enhanced the demand for solar LED lighting through 2025.
Intensifying Infrastructure in Developing Regions is Emanating the Demand for Solar LED Lighting
The growth of the Asia-Pacific region would be majorly driven by rising infrastructural activities and the establishment of residential units in the region is driving is the demand for solar LED lighting. The region held a substantial market share in 2019 and is expected to witness an soaring demand through 2025. North America grabbed the largest market share in 2019 as revealed by the MarkNtel Advisors’ research report “Global Solar LED Lighting Market Analysis, 2020”.
Commercial Sector to Boost Due to Promulgating Solar Power Plants Establishments
Based on the application areas, the commercial sector fostered the largest market share in 2019 owing to the burgeoning measures taken by the government to escalate the adoption of solar LED lighting and reduce the CO2 emissions in countries. Solar street lighting is used majorly for commercial purposes on streets, subways, tunnels, and highways, etc. For instance, in 2019, the Talesun LED 315MW solar power project finished in Argentina. The Cauchari PV plant locates in Cauchari area of Jujuy Province, the northernmost province of Argentina which would provide electricity to around 60,000 households. Also, there is a growing trend for automatic dawn and dusk lighting systems which propel the growth of solar LED lighting. Additionally, parking lots, pathways, and subways and parks also have solar LED installations therefore, more such construction would foster the demand for solar LED lighting during the forecast period.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Solar LED Lighting market include Bisol, Greenshine New Energy, Solar Lighting International, Anuhi Longvolt Energy Co., Ltd., Solar Electric Power Company (SEPC), Solux, Orion Solar, Leadsun, Bridgelux, Inc, SOKOYO Solar Group, Urja Global, Solektra International etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Solar LED Lighting Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of units sold (Million units).
Q. What would be the growth rate or CAGR of Global Solar LED Lighting Market during 2020-25?
A. The growth rate of Global Solar LED Lighting Market during 2020-25 is forecast to be around 20.50%.
Q. Who are the key competitors or players operating in Global Solar LED Lighting Market?
A. Bisol, Greenshine New Energy, Solar Lighting International, Anuhi Longvolt Energy Co., Ltd., Solar Electric Power Company (SEPC), Solux, Orion Solar, Leadsun, Bridgelux, Inc, SOKOYO Solar Group, Urja Global, Solektra International etc. are few of the leading players in the Global Solar LED Lighting Market.
Q. Which application segment would emerge as an opportunity area for players in Global Solar LED Lighting Market?
A. commercial sector application segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Solar LED Lighting Market?
A. The North America grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Solar LED Lighting Market.
