Low Voltage Segment Segment is Expected to Dominate the Global Outdoor Solar LED Market
Many governments around the world offer incentives,
subsidies, tax credits, and rebates to encourage the adoption of solar
technologies, including solar lighting.
According
to TechSci Research report, “Global Outdoor Solar LED Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Outdoor Solar LED is
anticipated to project robust growth in the forecast period with a CAGR of 9.25%
through 2028. The end-user segments of the Outdoor Solar LED Market include
industrial, residential, commercial, highways and roadways. The growing need to
reduce carbon emissions and to minimize dependency for power consumption on
traditional energy sources have been driving the Outdoor Solar LED Market. The
Solar Light System has multiple benefits such as low maintenance cost, easy
installation and avoiding the threats of electric shocks since it is a wireless
system. The rapid developments in highways, railways and ports are the targeted
areas for the deployment of Outdoor Solar LED Systems. Also, the low
electricity penetration area in the rural parts of developing countries is
expected to drive the Outdoor Solar LED Market. Roadway lighting is used to illuminate roads,
highways, and other public spaces. It is essential for ensuring the safety of
drivers, pedestrians, and cyclists at night. Roadway lighting also helps to
reduce crime and improve the quality of life in communities. The roadway
lighting segment is expected to continue to dominate the global Outdoor Solar
LED market in the coming years. This is due to the growing demand for
infrastructure development, the increasing urbanization of the world, and the rising
safety concerns. Other significant segments in the global Outdoor Solar LED market
include bridge lighting, tunnel lighting, airport lighting, port lighting,
railway lighting, industrial lighting, and commercial lighting. The world is
becoming increasingly urbanized, and this is leading to a growing demand for
infrastructure development, including roads, bridges, tunnels, airports, ports,
and railways. This is driving the demand for Outdoor Solar LED solutions. Governments
and businesses around the world are increasingly focused on energy efficiency
and sustainability. This is due to a number of factors, such as rising energy
costs, concerns about climate change, and government incentives. The focus on
energy efficiency and sustainability is driving the demand for energy-efficient
and sustainable Outdoor Solar LED solutions, such as LED lights and smart
lighting controls.
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Governments
and businesses are increasingly focused on safety and security. This is due to
a number of factors, such as the increasing threat of terrorism and crime. Outdoor
Solar LED can help to improve safety and security by increasing visibility and
deterring crime. Lighting technology is constantly advancing, and this is
leading to the development of more efficient, reliable, and durable Outdoor
Solar LED solutions. For example, LED lights are now more efficient and
affordable than ever before. The roadway lighting segment is the largest
segment in the Outdoor Solar LED market, accounting for over 50% of the market
share in 2022. This is due to the large number of roads and highways that need
to be lit for safety and security purposes. Other significant segments in the Outdoor
Solar LED market include bridge lighting, tunnel lighting, airport lighting,
port lighting, railway lighting, industrial lighting, and commercial lighting. The
Asia Pacific region is the largest market for infrastructure lighting, accounting
for over 40% of the global market share in 2022. Asia Pacific is expected to
hold the largest share of the market during the forecast period (2023-2029).
The growing demand for power in developing economies such as China and India
can only be fulfilled by solar energy. The region’s Outdoor Solar LED Market is
expected to grow majorly due to favorable government schemes for sustainable
energy development. Middle East and Africa is expected to hold the
second-largest growing region in Outdoor Solar LED Market during the forecast
period. The partnership between China and some Middle East countries for the
deployment of Outdoor Solar LED Systems in the region is expected to drive the
Middle East and Africa Outdoor Solar LED Market.
Key market players in the Global
Outdoor Solar LED Market are following:-
- Cree
Inc
- Hubbell
Lighting
- Zumtobel Group AG
- Philips
Lighting
- Acuity
Brands Inc.
- Dialight
plc
- Eaton
Corporation
- Osram
GmbH
- GE
Lighting
- SAMSUNG
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“LED
lighting is becoming increasingly popular in infrastructure applications due to
its energy efficiency, long lifespan, and low maintenance requirements. Smart
lighting solutions are becoming increasingly popular in infrastructure
applications due to their ability to improve efficiency, reduce costs, and
enhance safety. For example, smart lighting solutions can be used to dim or
turn off lights when they are not needed, which can save energy and reduce
costs. Governments and businesses are increasingly looking for sustainable Outdoor
Solar LED solutions that can reduce their environmental impact. For example,
solar-powered lighting systems can help to reduce the reliance on fossil fuels.
The
global Outdoor Solar LED market is a growing and dynamic market with a bright
future. The factors driving the growth of the market include the increasing
urbanization and infrastructure development, the growing demand for
energy-efficient and sustainable lighting solutions, the rising safety and
security concerns, and the technological advancements in lighting technology.
The key trends in the market include the growing adoption of LED lighting, the
increasing use of smart lighting solutions, and the growing demand for
sustainable Outdoor Solar LED solutions.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
Outdoor Solar
LED Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented 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), By Region, By Competition
2018-2028 has
evaluated the future growth potential of Global Outdoor Solar LED Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Outdoor
Solar LED Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
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New York, United States- 10170
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Email: [email protected]
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