Analysis of the global LED street light market scale in 2021

Due to the new crown epidemic in 2020, the economy and industries in many regions of the world have pressed the stop button, so last year’s global economic market development trend did not have a good reference value. If you want to know when you can have a good one If we analyze market trends with global data, it may really be possible to wait for the end of the new crown epidemic. However, as time comes to the summer of 2021, with the global economy slowly recovering, we can also make a rough forecast of the future market. Today, HISHINE will bring you an analysis of the global LED street lamp market scale in 2021. Interested friends can take a look.

Data analysis trends

If you want to understand the global LED street lights market scale analysis, it must be inseparable from some countries or regions that are building modern cities. Among them, as one of the most important contributors to the global economy, we can know that China is Vigorously develop modern city construction, and many cities are also undertaking infrastructure construction. If some street lights are replaced with new LED street lights, if only some modern city constructions are counted, the required LED street lights are also very large. You must know that according to the data. The total number of street lights in China is 273,834,450. You must know that this is only the data of 2018. As one of the world’s largest economies, China has never stopped urban infrastructure and modernization from 2018 to 2021. According to the report, , The number of new street lights in China each year is 15%-20% of the total, so we predict that the number of street lights in cities in China now has reached 30 million. And according to the annual increase of 3 million-6 million, assuming that each street lamp is an LED street lamp, and the price of each street lamp is 1000-2000 RMB, then the annual increase will be 3 billion-6 billion RMB.

Although we know that China is very strong now, many countries and regions are constantly building modern cities and upgrading their urban lighting. As of October 2019, the global penetration rate of LED street lights is less than 15%. The regional differences are particularly obvious. Among them, the penetration rate of LED street lights in Japan and Canada is about 45%, while the penetration rate in South America is less than 5%. The data shows that the global market size of LED street lamp caps and lighting control systems in 2019 is 738 million U.S. dollars. By 2024, the market size of LED street lamp caps and lighting control systems will reach 1.1 billion U.S. dollars, a compound annual growth rate of 8.2%.

Speculate on the scale of the global LED street light market in 2021

As the economy slowly recovers and everything in life is going to be normal, we can make a more accurate prediction based on the above research data. In the future, the global LED street lamp market will maintain a rapid growth, and this year will be the new crown In the second year of the epidemic, the scale of the LED street lamp market will increase significantly compared with the previous year, and with the popularization of 5G, the market size of smart LED street lamps will also increase, so the global LED street lamp market scale may be expected in 2021. There will be an explosive growth, which may reach a growth rate of 10% compared to the previous year. The above is the full content of the analysis of the global LED street light market scale in 2021 brought to you today. If you are interested in LED street lights, you can go to our HISHINE official homepage to preview.