Outdoor Solar LED Market By Product Type (Street Lights, Garden Lights, Floodlights, Spot Lights, Others), By Voltage (Low Voltage, Medium Voltage, High Voltage), By End Use (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global outdoor solar led market was valued at $6.4 billion in 2022, and is projected to reach $44.4 billion by 2032, growing at a CAGR of 21.6% from 2023 to 2032.
The outdoor solar LED lighting is an enhanced eco-friendly and cost-effective solution for illuminating outdoor spaces. Solar panels collect energy from the sun during the day, which is stored in batteries and are used to power LED lights at night. It eliminates the need for wiring and reduces energy consumption and costs.
The growth of global outdoor solar LED is majorly driven by the increase in demand for eco-friendly and sustainable lighting solutions paired with the government initiatives and policies promoting the use of solar energy and energy-efficient lighting. Moreover, the decrease in prices of LED lighting and solar panels is expected to drive market growth. However, high initial installation costs of solar LEDs are acting as prime restraints for the growth of the global market. On the contrary, the growing adoption of smart city technologies is anticipated to provide lucrative opportunities for the outdoor solar LED industry during the forecast period.
The outdoor solar LED market is segmented into product type, voltage, end use, and region. On the basis of product type, the market is categorized into streetlights, garden lights, floodlights, wall lights, and others. On the basis of voltage, the market is fragmented into low voltage, medium voltage, and high voltage. On the basis of end use, the market is classified into residential, commercial, and industrial.
Region-wise, the outdoor solar LED market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the market include Signify Holding, OSRAM GmbH., SOKOYO Solar Lighting Co., Ltd., OkSolar.com, SEPCO Solar Electric Power Company, LEADSUN, Polybrite - SBM NewTech Co., Ltd, Sunna Design SA, Solar Street Lights USA, and Jiawei.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the outdoor solar led market analysis from 2022 to 2032 to identify the prevailing outdoor solar led market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the outdoor solar led market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global outdoor solar led market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Product TypeFloodlights
Spot Lights
Others
Street Lights
Garden Lights
By VoltageLow Voltage
Medium Voltage
High Voltage
By End UseResidential
Commercial
Industrial
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
Italy
UK
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Greenshine New Energy
Jiawei
LEADSUN
OkSolar.com
OSRAM GmbH.
Polybrite - SBM NewTech Co., Ltd
SEPCO Solar Electric Power Company
Signify Holding
SOKOYO Solar Lighting Co., Ltd.
Solar Street Lights USA
Solex Energy Limited
Sunna Design SA
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