Solar Lights Market By Size, Growth, Trends and Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 27.89 Billion
CAGR (2023-2028)	21.37%
Fastest Growing Segment	Polycrystalline Segment
Largest Market	Asia Pacific

Market Overview

Global Solar Lights Market has valued at USD 27.89 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 21.37% through 2028 The gradually growing requirement of energy and the limited resource of traditional energy sources are challenging for both developed and developing countries. Solar lights provide a clean, cost-effective, environment-friendly solution to provide households with access to lighting. Awareness related to clean energy is increasing in the developing nations boosting the global solar lights market trends in near future. A wide variety of off-grid solar products, ranging from large installations powering to small portable lights are gaining popularity in low- and middle-income countries. Prices for different type of solar lights have decreased by around 80% in the past 6 years and are expected to drop even further which is driving the growth of the solar lights industry. Governments, NGOs and other organizations are accelerating the adoption of solar lights through tax cuts, subsidies which is creating more favorable opportunity for solar lights market growth in the near future.

Nowadays, the use of solar lights is very common in both residential and commercial places. According to solar lights market analysis, residential sector is indulged in efficiently offsetting and diversifying electricity consumption which is boosting the solar light market during the forecast period. Solar energy further brought a huge transition in the commercial market. Solar lights are gaining popularity and replacing the conventional outdoor lighting solutions and streetlights. Moreover, increase in the investment by the government and favorable government policies for construction of new highways and roadways projects in developing countries with solar street light products is anticipated to boost the growth of the solar light market.

Key Market Drivers

Compared with traditional street lighting, solar street lighting uses solar energy which is completely renewable. In a genuine sense, solar street lighting promotes environmental protection. Solar light products are cost effective over time as no continuing electricity costs are attached with the product. Solar lights can store enough energy to operate continuously throughout the night, even in overcast or snowy weather as products can turn on and off independently. Solar light products help illuminate all parking lots and paths during storms and power outages. The demand for the global solar lights market is anticipated to grow due to the increase in popularity of solar light products such as solar garden lights, solar streetlights for highways, and solar IoT lights in various applications.

Switching to solar power products means taking an active part in conserving the environment. People around the world are adapting new ways to make positive changes in their community. According to solar lights market forecast, residential sector is focusing on investing in future with solutions which are smarter, greener, and more adaptable to the ever-changing landscape. Adoption of off grid or solar lighting network in residential and public gardens help overcome the utility connection light maintenance cost.

Off-grid solar lights help overcome the constraints associated with traditional grid-powered lighting solutions. Off-grid solar lighting solutions can avoid foundation work of cables ditch digging, cable pipe laying, cable threading inside pipes and ditch landfill, which needs a lot of labor. Off-grid solar light systems provide a much easier installation. The off-grid solar lights are independent and come up with the economic benefits such as cost-saving and labor-saving which drives up demand for off-grid solar light products in the market.

The rechargeable batteries are already included in a solar light fixture which makes installation of solar lights effortless. Solar light batteries are recharged over the day to provide a constant flow of electricity at night. The battery charges and drains as the lights operate from dusk to dawn. Technological development in new batteries such as longer life-span and excellent environmental compatibility is drive the demand for solar lighting products in different applications. Decomposable or "green" batteries are now undergoing development for solar light, which is projected to open new solar lights market opportunities in the forecasted period.

Public Awareness and Demand for Quality of Life

Growing public awareness of the importance of well-lit and aesthetically pleasing urban environments has driven demand for quality lighting. People now expect well-designed lighting solutions that enhance their quality of life, making aesthetics an essential consideration for infrastructure projects. The Solar Lights market exhibits regional variations due to differences in infrastructure development, government policies, and economic conditions. For instance: North America has been at the forefront of LED adoption in infrastructure lighting. The region's commitment to energy efficiency and sustainability has driven widespread LED retrofitting projects in cities and municipalities.

Europe is a leader in smart Solar Lights solutions. The European Union's ambitious energy efficiency goals have prompted investments in adaptive lighting systems that respond to traffic patterns and weather conditions. The Asia-Pacific region, with its rapid urbanization, represents a significant growth opportunity for the Solar Lights market. Countries like China and India are investing heavily in new infrastructure projects, creating a high demand for lighting solutions. LED lights are often a better option when compared to alternative lighting options like incandescent, CFL, incandescent, and halogen lights, as they can operate with little energy input while delivering strong illumination. LEDs are extensively utilized in both indoor and outdoor situations. LEDs allow designers versatility in their designs and the durability to withstand frequent switching. The market is expected to expand as consumers become more aware of their benefits.

American National Standards Institute, China Compulsory Certification, and International Electrotechnical Commission are a few significant regulatory bodies.

The American National Standards Institute, China Compulsory Certification, and International Electrotechnical Commission are a few significant regulatory bodies that manage product certification. Manufacturing after obtaining the required licenses permits to do business, offer services, and import and export products. Governments in both developed and developing economies are attempting to lower high energy usage.

They are doing this by upholding a number of quality laws that assist them in preserving consumer safety, managing energy use, and monitoring environmental issues. LED lighting is an energy-saving solution with a 50,000-hour lifespan and lower electricity use. As a result, it is anticipated that stringent government rules limiting the use of lighting that uses a lot of energy will promote the expansion of the market.

When used as overhead surgical illumination earlier, halogen lights bothered medical workers during procedures or examinations. Additionally, the examination room's 50 to 100 W halogen bulbs with the tiny surgical illumination produced a lot of heat and consumed too much electricity. As a result, one factor anticipated to fuel the expansion of the target LED lighting market is manufacturers' strategy for combining LEDs in surgical illumination, exam lights, phototherapy, and endoscopy to enhance patient treatment experiences. The development of the LED lighting industry is also anticipated to be impacted by technological advancements in the medical device sector that will replace older or less efficient equipment.

The COVID-19 pandemic negatively impacted the global economy. The demand for LED lighting was reduced as a result of rigorous suspensions and lockdowns imposed on construction sites. However, the second half of 2021 saw an increase in construction due to the introduction of new as well as upgrading projects, which contributed to the steady recovery of the industry for LED lighting.

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Key Market Challenges

High Initial and Deployment Costs of LED Lighting System to Restrain Market Growth

In recent years, light emitting diode (LED) systems have experienced a substantial surge in their level of recognition. Nevertheless, the primary expense associated with purchasing a single unit of these systems surpasses that of the conventional CFL lighting systems currently available. The components that comprise these systems, including diodes, transmitters, and capacitors, involve considerable costs, thereby directly influencing the initial retail price of the complete system. Additionally, the substitution of current lighting systems with LED alternatives and the installation of new LED lights pose affordability challenges for residential consumers, ultimately impeding the progress of the worldwide market.

Key Market Trends

The adoption of Light Emitting Diode (LED) technology continues to grow rapidly in the Solar Lights market. LED lights offer numerous advantages over traditional lighting solutions, including energy efficiency, long lifespan, and reduced maintenance costs. The city of Los Angeles, California, embarked on a massive LED streetlight retrofit project. By replacing traditional high-pressure sodium (HPS) streetlights with LED fixtures, the city achieved energy savings of over 60%. Moreover, the LED lights provided better visibility, enhancing safety for residents and reducing light pollution.

Smart Infrastructure Lighting

Smart Solar Lights systems are becoming increasingly popular. These systems utilize sensors, data analytics, and connectivity to create adaptive lighting environments. They can adjust lighting levels based on real-time data, such as traffic conditions, weather, and pedestrian movement, thereby enhancing energy efficiency and safety. The city of Copenhagen, Denmark, implemented a smart lighting system in its bicycle lanes. The system uses motion sensors to detect the presence of cyclists and pedestrians. When a user approaches, the lights brighten, providing a safer and more comfortable experience. This not only enhances safety but also reduces energy consumption during periods of low usage.

Solar-Powered Lighting

Trend: Solar-powered lighting solutions are gaining prominence as sustainability becomes a focal point. These systems harness solar energy to power LED lights, reducing the reliance on the electrical grid and lowering operational costs. In rural areas of India where reliable access to electricity is a challenge, solar-powered streetlights have been deployed to improve safety and accessibility. The solar panels charge during the day, and the stored energy powers the LED streetlights at night, contributing to energy independence and reducing carbon emissions.

Aesthetic and Architectural Lighting

Beyond functionality, Solar Lights is increasingly seen as a means of enhancing aesthetics and creating distinctive urban environments. Architectural lighting designs are used to illuminate landmarks, bridges, and buildings, transforming cities into visually appealing spaces. The Sydney Opera House in Australia is a prime example of architectural lighting. Its unique and iconic design is accentuated at night with carefully designed lighting schemes that highlight its sail-like structures. This not only adds to the beauty of the cityscape but also draws tourists and visitors.

Human-Centric Lighting

Trend: Human-centric lighting is gaining attention for its ability to enhance well-being and productivity. This trend involves adjusting the color temperature and intensity of lighting to mimic natural daylight patterns, which can have positive effects on circadian rhythms and overall health. In healthcare facilities, such as hospitals and clinics, human-centric lighting systems have been installed to improve patient outcomes. These systems can simulate natural daylight, which aids in the healing process and helps patients maintain a healthy sleep-wake cycle. The integration of Solar Lights with the Internet of Things (IoT) and connectivity is expanding possibilities. Lighting systems are now part of larger smart city ecosystems, enabling data-driven decision-making and automation. In Singapore, lampposts have been equipped with sensors and cameras to create a "Smart Lamppost" network. These lampposts provide real-time data on air quality, traffic, and weather. The data collected is used for urban planning and improving the city's overall livability.

Segmental Insights

Panel Type Insights

Polycrystalline segment dominated in the market as Polycrystalline solar panel is the most predominant panel for the solar light products. The polycrystalline panel perform better even in low light conditions and have a higher temperature coefficient and high-power density which drive its demand in the market.

Power System Outlook

In 2022, off-grid segment to dominated in the market as systems are good in terms of expandability as energy needs change over time the power of off-gride can also be increases. The off-grid system is 100% self-sustaining and not connected in any way to local grid’s power system or utility which drive its demand in the market.

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Regional Insights

Asia Pacific is expected to dominate the market during the forecast period. North America is a developed region with a well-established infrastructure In 2021, Asia-Pacific to dominated in the market as owing to increased production of solar lighting products. In China and Japan, large companies have already entered the production of the products and are also expanding the production capacity are expected to be the key factors which drive the growth of the market during the forecast period.

The conflict between Russia and Ukraine has a significant impact on the energy sector. Russia's invasion of Ukraine has created shock waves in global energy markets, leading to price volatility, supply shortages, security issues. As a result, the cost of manufacturing solar light products and batteries will increase and significant supply chain challenges. The war can significantly slow the renewable energy transition of the Europe. The Russia-Ukraine war has a major impact on the global solar industry. Production has decreased sharply, while demand has also declined.

Recent Developments

In April, 2022, Wipro Lighting company has decided to launch best and highly eco-friendly lamination product named Wipro SolaRISETM. The product is technologically advanced, environment-friendly, efficient and innovative solutions. This development helps the company to increase product portfolio in lighting solutions
In October 2021, Koninklijke Philips N.V. company decided to launch the new product named Philips Essential SmartBright Solar Wall Light (BWS010 series). The product is an All In One (AIO) solar-based wall lamp with a compact size, easy installation, and motion sensors make which make product very suitable to be installed in the home area and garden area.
In April 2023, Cree Lighting unveiled the launch of its OSQ Series C mid-power LED Area and Flood luminaires. These solutions feature the groundbreaking NanoComfort Technology, delivering matchless efficiency, astonishing visual comfort, precise control, reduced wind load requirements, and ease of installation.
In February 2022, Digital Lumens introduced its Lightintelligence Port integrated with the CLE and RLE luminaire families. This intelligent LED luminaire is equipped with modular IoT capabilities and a smart port for achieving top-notch performance.
In June 2021, LSI Industries launched the Opulence Series of architectural luminaires for outdoor applications. The Opulence luminaires deliver world-class efficiency and can achieve outputs of up to 14,000 lumens at color temperatures that range from 2700-5000K.
In March 2021, Signify announced the launch of the first-in-India tailor-made 3D printed luminaires empowering a circular economy. The company also set up a design lab in Noida and a 3D printing facility in Vadodara.

Key Market Players

Kon Lighting
Fonroche Lighting America, Inc.
Greenshine New Energy
wipro lighting
ENGOPLANET ENERGY SOLUTIONS LLC
Solar Street Lights USA
Koninklijke Philips N.V.
SEPCO
Engcotec GmbH
Sunna Design SA

By Type

By Panel Type

By Application

By Power System

By Region

Outdoor Solar Lights
Indoor Solar Lights

Polycrystalline
Monocrystalline
Amorphous

Highways
Roadways
Residential
Commercial Industrial
Others

Off-Grid
On-Grid
Hybrid

North America
Europe
South America
Middle East & Africa
Asia Pacific

Report Scope:

In this report, the Global Solar Lights Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global Solar Lights Market, By Type:

o Outdoor Solar Lights

o Indoor Solar Lights

Global Solar Lights Market, By Panel Type:

o Polycrystalline

o Monocrystalline

o Amorphous

Global Solar Lights Market, By Application:

o Highways

o Roadways

o Residential

o Commercial Industrial

o Others

Global Solar Lights Market, By Power System:

o Off-Grid

o On-Grid

o Hybrid

Global Solar Lights Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Indonesia

o Europe

§ Germany

§ United Kingdom

§ France

§ Russia

§ Spain

o South America

§ Brazil

§ Argentina

o Middle East & Africa

§ Saudi Arabia

§ South Africa

§ Egypt

§ UAE

§ Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Solar Lights Market.

Available Customizations:

Global Solar Lights Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Solar Lights Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.3. Markets Covered

1.4. Years Considered for Study

1.5. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Solar Lights Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type (Outdoor Solar Lights, Indoor Solar Lights)

5.2.2. By Panel Type (Polycrystalline, Monocrystalline, Amorphous)

5.2.3. By Solar Power Systems (Off-Grid, On-Grid, Hybrid)]

5.2.4. By Application (Highways and Roadways, Residential, Commercial and Industrial, Others)

5.2.5. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America Solar Lights Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type

6.2.2. By Panel Type

6.2.3. By Solar Power

6.2.4. By Application

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Solar Lights Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type

6.3.1.2.2. By Panel Type

6.3.1.2.3. By Solar Power

6.3.1.2.4. By Application

6.3.2. Canada Solar Lights Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type

6.3.2.2.2. By Panel Type

6.3.2.2.3. By Solar Power

6.3.2.2.4. By Application

6.3.3. Mexico Solar Lights Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type

6.3.3.2.2. By Panel Type

6.3.3.2.3. By Solar Power

6.3.3.2.4. By Application

7. Asia-Pacific Solar Lights Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Panel Type

7.2.3. By Solar Power

7.2.4. By Application

7.2.5. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Solar Lights Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type

7.3.1.2.2. By Panel Type

7.3.1.2.3. By Solar Power

7.3.1.2.4. By Application

7.3.2. India Solar Lights Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Panel Type

7.3.2.2.3. By Solar Power

7.3.2.2.4. By Application

7.3.3. Japan Solar Lights Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Panel Type

7.3.3.2.3. By Solar Power

7.3.3.2.4. By Application

7.3.4. South Korea Solar Lights Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type

7.3.4.2.2. By Panel Type

7.3.4.2.3. By Solar Power

7.3.4.2.4. By Application

7.3.5. Indonesia Solar Lights Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type

7.3.5.2.2. By Panel Type

7.3.5.2.3. By Solar Power

7.3.5.2.4. By Application

8. Europe Solar Lights Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Panel Type

8.2.3. By Solar Power

8.2.4. By Application

8.2.5. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Solar Lights Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type

8.3.1.2.2. By Panel Type

8.3.1.2.3. By Solar Power

8.3.1.2.4. By Application

8.3.2. United Kingdom Solar Lights Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type

8.3.2.2.2. By Panel Type

8.3.2.2.3. By Solar Power

8.3.2.2.4. By Application

8.3.3. France Solar Lights Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type

8.3.3.2.2. By Panel Type

8.3.3.2.3. By Solar Power

8.3.3.2.4. By Application

8.3.4. Russia Solar Lights Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Technology

8.3.4.2.2. By Product

8.3.4.2.3. By Application

8.3.5. Spain Solar Lights Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Type

8.3.5.2.2. By Panel Type

8.3.5.2.3. By Solar Power

8.3.5.2.4. By Application

9. South America Solar Lights Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Panel Type

9.2.3. By Solar Power

9.2.4. By Application

9.2.5. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Solar Lights Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type

9.3.1.2.2. By Panel Type

9.3.1.2.3. By Solar Power

9.3.1.2.4. By Application

9.3.2. Argentina Solar Lights Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type

9.3.2.2.2. By Panel Type

9.3.2.2.3. By Solar Power

9.3.2.2.4. By Application

10. Middle East & Africa Solar Lights Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type

10.2.2. By Panel Type

10.2.3. By Solar Power

10.2.4. By Application

10.2.5. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Solar Lights Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By Panel Type

10.3.1.2.3. By Solar Power

10.3.1.2.4. By Application

10.3.2. South Africa Solar Lights Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type

10.3.2.2.2. By Panel Type

10.3.2.2.3. By Solar Power

10.3.2.2.4. By Application

10.3.3. UAE Solar Lights Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By Panel Type

10.3.3.2.3. By Solar Power

10.3.3.2.4. By Application

10.3.4. Israel Solar Lights Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Type

10.3.4.2.2. By Panel Type

10.3.4.2.3. By Solar Power

10.3.4.2.4. By Application

10.3.5. Egypt Solar Lights Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Type

10.3.5.2.2. By Panel Type

10.3.5.2.3. By Solar Power

10.3.5.2.4. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenge

12. Market Trends & Developments

13. Company Profiles

13.1. Kon Lighting

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2. Fonroche Lighting America, Inc

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3. Greenshine New Energy

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4. wipro lighting.

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5. ENGOPLANET ENERGY SOLUTIONS LLC

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6. Solar Street Lights USA

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7. Koninklijke Philips N.V

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8. SEPCO

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9. Engcotec GmbH

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

13.10. Sunna Design SA

13.10.1. Business Overview

13.10.2. Key Revenue and Financials

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Solar Lights Market in 2022?

The market size of the Global Solar Lights Market was USD 27.89 Billion in 2022.

Which was the dominant segment in the Global Solar Lights Market in 2022?

The Global Solar Lights Market was dominated by the Polycrystalline segment in 2022.

What is the main Challenge in the Global Solar Lights Market?

Solar lights rely on sunlight to generate electricity. Therefore, they are susceptible to interruptions in power generation during cloudy days, at night, or in locations with limited sunlight. This intermittency can affect the reliability of solar lighting, particularly in areas with inconsistent weather patterns or during extended periods of darkness.

What are the major drivers for the Global Solar Lights Market?

Increasing concern about environmental issues and climate change has led to a growing demand for clean and sustainable energy sources. Solar lights, which rely on renewable solar energy, align with the global push for eco-friendly solutions and reduced carbon emissions.

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Srishti Verma

Business Consultant

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Press Release

Polycrystalline Segment is Expected to Dominate the Global Solar Lights Market

Nov, 2023

Many governments around the world offer incentives, subsidies, tax credits, and rebates to encourage the adoption of solar technologies, including solar lighting.

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