The Asia Pacific Solar Motion Sensor Wall Light Market would witness market growth of 7.5% CAGR during the forecast period (2022-2028).
Solar motion sensor wall light is gaining popularity as it finds significant applications in various settings like streets, public places such as commercial sites, gardens, parking lots, universities, and college campuses. As electricity prices increases, a growing number of municipalities throughout the world are opting for solar panel-based lighting to cut operation costs while also enhancing system efficiency and safety assurance.
Moreover, the rising usage of solar energy as a renewable energy source for lighting across nations is also expected to increase the adoption of solar motion sensor wall lights. Also, the growth is anticipated to be fueled by the falling prices of raw materials, advantages like easy installation, increased lifespan, minimum maintenance, and operating cost. Also, the awareness about renewable energy assets is rising due to the strict regulatory reforms concentrated on sustainable infrastructure development across developed and developing.
The awareness of clean energy, especially in developing nations, propels the demand for solar motion sensor wall light products. These products aid in overcoming the concerns like pollution, sustainability, and renewability of resources. In the solar motion sensor wall light market, the cost comparison of the solar light and LEDs shows how much cost can be saved over a particular period. The installation of the solar motion sensor wall light products requires no labor charges or wiring.
The Chinese local and central governments are providing subsidies for renewable energy development. The central government subsidizes research and development on major renewable energy technologies through the National Development and Reform Commission and the Ministry of Science & Technology (MOST). Funds offered by MOST during the Tenth five-year plan will be around $3.4 million. The MOST also assists research & development through two national high-tech R&D programs. The increasing funding for renewable energies like solar energy by the governments and the growing R&D will increase the application of solar powered equipment in various sectors, thereby propelling the expansion of the solar motion sensor wall light market in the region.
The China market dominated the Asia Pacific Solar Motion Sensor Wall Light Market by Country in 2021; thereby, achieving a market value of $38,790 Thousands by 2028. The Japan market is registering a CAGR of 6.9% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 8.1% during (2022 - 2028).
Based on Application, the market is segmented into Lighting, Security and Decoration. Based on Sensor Type, the market is segmented into Passive Infrared Sensors and Microwave Radars. Based on End use, the market is segmented into Residential, Commercial and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Solar Motion Sensor Wall Light Market is Projected to reach USD 325.8 Million by 2028, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., Lee Valley Tools Ltd., Wentronic GmbH, Safety Inspectors UK Ltd., ARALIA - LYX-luminaires S.a.r.l, CGC Interiors (CGC Group UK Ltd.), Hugo Brennenstuhl GmbH & Co Kommanditgesellschaft, LEDVANCE GmbH (MLS Co., LTD.) and LITOM
By Application
By Sensor Type
By End use
By Country
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