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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, market 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 toward clean energy coupled with extensive investments made by the government such as the Netherlands for the generation of renewable energy. Moreover, the overall demand has lately been extremely driven for solar technologies and burgeoning investment towards the refurbishment of conventional electricity generation source 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 titled “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 innovative advancements in the designs of product have lowered the cost of remote areas lighting thus making it an alternative for households and municipalities. Therefore, this haveaugmented the demand for solar LED lighting through 2025.
Intensifying Infrastructure in Developing Regions Emanating the Demand for Solar LED Lighting
The growth of the Asia-Pacific region has majorly driven numerous infrastructural activities and the establishment of residential units in the region is further driving the demand for solar LED lighting. The region held a substantial market share in 2019 and is expected to witness a soaring demand through 2025. North America acquired 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 area, the commercial sector fostered the largest market share in 2019 owing to the extensive 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. Also, there is a growing trend for automatic dawn and dusk lighting systems which propels the growth of solar LED lighting to a large extent. Additionally, parking lots, pathways, 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.
