Global solar lights market volume might reach US$11.2 Billion by the end of 2026

According to some market survey, it is estimated that global solar lights systems market was up to US$5.5 Billion in past year 2020, by the year 2026, it is projected to grow at a CAGR of 15.2% at least, up to US$13.48 Billion.

Facing the challenge of covid-19 pandemic, the world LED market will grow at a 8.4% CAGR, up to US$9.3 Billion by the end of 2026. Currently, this market share covers about 36.6^ of the global solar lights systems market.

There is a growing market requirement for solar street lights facing the demand for energy saving in both rural and urban areas. Also, the dropping cost of some important components results in an attractive alternative to traditional street lights, such as solar photovoltaic panels. Government is encouraging to reduce carbon emissions by introduction of environment-friendly solar led lights.Solar street led lights can work well outside in nature without power grid so as to achieve low operating expenses.

In the year 2021, it is estimated that US solar lights market will be up to US$1.3 Billion, which covers a  23.08% in the global market share. China is expected to reach US$2.6 Billion in the year 2026.

Among other important markets, Japan is forecast to grow at 9.9%, and Canada might grow at 10.4% up to the year 2026. In Europe, Germany would take the lead, growing at about 11.3% CAGR while the other countries might be up to US$3.1 Billion by the end of year 2026.