Asia Pacific Emerges as Key Region in Global Solar Street Lighting Market
Asia Pacific was the largest market for solar street lighting globally, accounting for 44.3% share in 2016. India was the leader in terms of revenue, closely followed by China, in 2016. On the other hand, the Middle East and Africa was the second-largest market for solar street lighting in the same year. Kenya, South Africa, Ghana, and Nigeria spearhead the solar street lighting market in Africa with need for clean and reliable source of off-grid electricity. Europe stood third with Germany and the U.K leading the demand as the region makes a serious shift towards greener solutions.
Analysts expect that is likely to witness significant growth in the near future and would surpass the growth rate of Asia Pacific market by 2020. This expected growth is the result of numerous initiatives such as subsidies, campaigns, and different programs introduced by the World Bank and International Finance Corporation to promote solar street lighting products.
The future holds exciting developments for ClearWorld and the other companies committed to solar energy and its best practices. We look forward to the year ahead and the important improvements sure to come.