Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 12.08 billion

CAGR (2023-2028)

25.19%

Fastest Growing Segment

Commercial

Largest Market

Asia Pacific


Market Overview

Global Solar Outdoor LED Light Market has valued at USD 12.08 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 25.19% through 2028.

The global Solar Outdoor LED Light market refers to the industry segment dedicated to the production, distribution, and adoption of outdoor lighting systems that incorporate both solar photovoltaic technology and Light Emitting Diode (LED) technology. These lighting solutions harness the power of sunlight to generate electricity through solar panels, which is then stored in batteries and subsequently used to power LED light fixtures during nighttime or low-light conditions.

The market encompasses a diverse range of products designed for outdoor use, including solar streetlights, garden lights, pathway lighting, and security lights. These systems are environmentally friendly and energy-efficient, as they reduce reliance on conventional electricity sources and lower greenhouse gas emissions. They are commonly deployed in urban, suburban, and rural settings, illuminating streets, parks, public spaces, residential areas, and commercial premises.

Key drivers of the global Solar Outdoor LED Light market include increasing environmental awareness, government incentives, technological advancements, energy efficiency regulations, and the pursuit of sustainable urban development. As the world seeks to reduce energy consumption and combat climate change, this market continues to expand, offering cost-effective and eco-friendly lighting solutions for various applications.

Key Market Drivers

Environmental Awareness and Sustainability

In recent years, there has been a growing global awareness of environmental issues and a heightened emphasis on sustainability. This awareness has significantly contributed to the surge in demand for solar outdoor LED lights. Consumers and businesses alike are increasingly seeking eco-friendly lighting solutions to reduce their carbon footprint and lower their energy costs.

Solar outdoor LED lights are seen as a sustainable alternative to traditional lighting systems because they harness the power of the sun, a clean and renewable energy source. This reduces reliance on fossil fuels and minimizes greenhouse gas emissions associated with electricity production. As governments and organizations around the world continue to prioritize sustainability, the adoption of solar outdoor LED lights is expected to accelerate further.

Advancements in Solar Technology

The global solar outdoor LED light market is being driven by continuous advancements in solar technology. These innovations have resulted in more efficient solar panels, better energy storage solutions, and enhanced LED lighting systems. The increased efficiency of solar panels allows for quicker charging and longer-lasting illumination during nighttime hours.

Furthermore, improved energy storage technologies, such as advanced lithium-ion batteries, have made solar outdoor LED lights even more reliable, ensuring consistent performance even on cloudy days or during the winter months. These technological improvements have boosted the overall appeal of solar outdoor LED lights, making them a viable and dependable lighting solution for a wide range of applications.

Cost Savings and Return on Investment (ROI)

One of the primary drivers of the global solar outdoor LED light market is the potential for cost savings and a favorable return on investment (ROI). Solar outdoor LED lights may require a higher initial investment compared to traditional lighting systems, but they offer substantial long-term savings on electricity bills and maintenance costs.

As energy prices continue to rise, solar outdoor LED lights are an attractive option for businesses, municipalities, and homeowners seeking to reduce their operational expenses. Additionally, many governments and utility companies offer incentives and subsidies for the installation of solar-powered lighting systems, further enhancing the ROI for adopters.

Increasing Urbanization

The world is experiencing a significant trend toward urbanization, with more people moving to cities and urban areas. This trend has created a growing demand for outdoor lighting in urban spaces, including streets, parks, and public areas. Solar outdoor LED lights are an ideal solution for urban environments due to their energy efficiency and ability to reduce electricity consumption and costs.

Urban planners and governments are increasingly turning to solar outdoor LED lights to enhance safety, security, and the overall aesthetics of urban areas. The ability to install these lights without the need for extensive wiring and infrastructure upgrades makes them a convenient choice for rapidly evolving urban landscapes.

Energy Efficiency Regulations and Standards

Governments worldwide are enacting stricter energy efficiency regulations and standards to combat climate change and reduce energy consumption. This regulatory environment is driving the adoption of energy-efficient lighting solutions like solar outdoor LED lights.

Mandatory energy efficiency requirements often necessitate the use of sustainable and low-energy lighting options for various applications. Solar outdoor LED lights not only meet but often exceed these requirements, making them a preferred choice for both public and private sector projects.

Technological Integration and Smart Lighting

The integration of smart technologies into outdoor lighting systems is another significant driver of the global solar outdoor LED light market. These smart lighting systems can be remotely controlled and monitored, allowing for dynamic lighting schemes, adaptive brightness, and automated on/off scheduling.

As smart cities and smart infrastructure projects gain momentum, solar outdoor LED lights are becoming integral components of these initiatives. The ability to collect data, optimize energy usage, and respond to changing conditions in real-time makes them a valuable asset in the development of intelligent urban environments.

In conclusion, the global solar outdoor LED light market is experiencing robust growth due to several key drivers. These include increasing environmental awareness, technological advancements in solar technology, cost savings and ROI potential, urbanization trends, energy efficiency regulations, and the integration of smart technologies. As these drivers continue to shape the market, solar outdoor LED lights are poised to play a crucial role in the future of outdoor lighting solutions.

Government Policies are Likely to Propel the Market

Renewable Energy Incentives and Subsidies

Governments around the world are actively promoting the adoption of renewable energy sources, including solar power, to combat climate change and reduce greenhouse gas emissions. As part of this effort, many governments have implemented a range of incentives and subsidies to encourage the use of solar outdoor LED lights.

These incentives can take various forms, including tax credits, grants, feed-in tariffs, and rebates for individuals, businesses, and municipalities that install solar outdoor LED lighting systems. These financial incentives help offset the upfront costs of purchasing and installing solar lights, making them a more attractive option for potential users.

Furthermore, government subsidies often stimulate innovation and competition in the solar outdoor LED light market, driving down prices and improving the quality of products, ultimately benefiting consumers and the environment.

Net Metering and Grid Integration

To facilitate the integration of solar outdoor LED lights into the existing energy infrastructure, many governments have implemented net metering policies. Net metering allows solar system owners to feed excess electricity generated by their solar panels back into the grid, earning them credits on their electricity bills.

This policy encourages the widespread adoption of solar outdoor LED lights by providing a financial incentive for property owners to invest in larger solar installations. It also ensures that excess energy generated during the day can be used to power outdoor lighting during the night, increasing the reliability of solar lights.

Moreover, the ability to integrate solar outdoor LED lights with the grid provides grid stability and reduces the need for additional energy generation from fossil fuels during peak demand periods, contributing to a more sustainable and resilient energy system.

Energy Efficiency Standards and Regulations

Many governments have established energy efficiency standards and regulations for outdoor lighting, including solar outdoor LED lights. These policies aim to ensure that lighting systems meet minimum energy efficiency requirements, reducing energy consumption and greenhouse gas emissions.

Energy efficiency standards for outdoor lighting typically include specifications for the maximum power consumption, luminous efficacy, and durability of lighting fixtures. Manufacturers and importers must comply with these standards to sell their products in the market.

These regulations not only encourage the adoption of energy-efficient lighting solutions but also help consumers make informed choices by providing performance benchmarks for solar outdoor LED lights.

Public Procurement and Government Projects

Governments often lead by example when it comes to the adoption of sustainable technologies, including solar outdoor LED lights. Many governments have implemented policies that prioritize the use of energy-efficient and environmentally friendly lighting solutions in public infrastructure projects.

Public procurement policies and guidelines require government agencies to consider energy-efficient lighting options, which include solar outdoor LED lights, when planning and executing projects such as street lighting, park illumination, and public building lighting. These policies drive demand for solar outdoor LED lights and set a precedent for their adoption in other sectors.

Additionally, government projects serve as showcases for the benefits of solar outdoor LED lighting, encouraging private sector adoption as well.

Research and Development Funding

To support innovation and advancement in solar outdoor LED lighting technology, governments often allocate funding for research and development (R&D) initiatives. These funds are typically channeled to research institutions, universities, and private companies working on improving the efficiency, durability, and affordability of solar outdoor LED lights.

Government-funded R&D programs help drive technological advancements in the solar outdoor LED light market, leading to more efficient and cost-effective products. This, in turn, benefits consumers and businesses by providing access to cutting-edge lighting solutions that can further reduce energy consumption and environmental impact.

Environmental Regulations and Carbon Reduction Targets

To address environmental challenges, many governments have set ambitious carbon reduction targets and enacted regulations to limit emissions. Solar outdoor LED lights play a role in achieving these targets by reducing energy consumption and the carbon footprint associated with outdoor lighting.

Government policies that establish emissions reduction goals often promote the adoption of energy-efficient technologies, including solar outdoor LED lights, as part of a broader strategy to mitigate climate change. These policies encourage businesses and municipalities to transition to cleaner and more sustainable lighting solutions, aligning with national and international environmental objectives.

In conclusion, government policies are pivotal in shaping the global solar outdoor LED light market. Incentives, regulations, and funding programs not only drive adoption but also stimulate innovation, promote energy efficiency, and contribute to environmental sustainability. As governments continue to prioritize renewable energy and environmental protection, the solar outdoor LED light market is expected to thrive, benefiting both the industry and the planet.

 

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Key Market Challenges

Initial Cost and Return on Investment

One of the primary challenges facing the global Solar Outdoor LED Light market is the relatively high initial cost of purchasing and installing solar lighting systems. While solar outdoor LED lights offer significant long-term savings on electricity bills and maintenance costs, the upfront investment can be a deterrent for some potential buyers.

The cost of solar panels, LED fixtures, batteries, and other components can be substantial, particularly for larger-scale projects such as street lighting or commercial installations. This cost can make it challenging for individuals, municipalities, and businesses to commit to solar outdoor LED lighting, especially when budget constraints are a concern.

Moreover, the return on investment (ROI) for solar outdoor LED lights is often realized over several years, which can deter decision-makers who prioritize short-term financial gains. In some cases, the benefits of reduced energy consumption and lower maintenance costs may not be fully realized until several years into the system's lifespan, making it difficult for stakeholders to justify the initial expenditure.

To address this challenge, manufacturers and governments can work together to reduce the cost of solar outdoor LED lighting through economies of scale, technological advancements, and incentives. Furthermore, clear and transparent communication about the long-term financial benefits of these systems can help potential buyers understand the value proposition and make informed decisions.

Intermittent Energy Generation and Storage

Another significant challenge facing the global Solar Outdoor LED Light market is the intermittent nature of solar energy generation and the limitations of energy storage systems. Solar panels generate electricity only when exposed to sunlight, making solar outdoor LED lights reliant on weather conditions and daylight hours. This intermittency can be a concern, especially in regions with frequent cloud cover or extended periods of darkness.

While energy storage solutions, such as batteries, have improved in recent years, they still have limitations in terms of capacity and efficiency. Batteries can store excess energy generated during the day for nighttime use, but their capacity is finite. During extended periods of inclement weather, there may not be enough stored energy to power the lights throughout the night, leading to potential disruptions in illumination.

Additionally, energy losses occur during the conversion, storage, and retrieval of electricity from batteries, which can reduce overall system efficiency. This loss of energy can impact the effectiveness of solar outdoor LED lights, particularly in areas where consistent and reliable lighting is critical, such as for security or safety purposes.

To address this challenge, advancements in energy storage technology are essential. Research and development efforts should focus on increasing battery capacity, improving energy efficiency, and developing innovative solutions for storing and managing solar energy. Additionally, hybrid systems that combine solar power with other renewable sources, such as wind or hydroelectricity, can provide a more consistent and reliable energy supply for outdoor lighting applications.

In conclusion, while the global Solar Outdoor LED Light market holds great promise for energy efficiency and environmental sustainability, it faces challenges related to initial costs and ROI as well as the intermittent nature of solar energy generation and storage. Addressing these challenges will require collaborative efforts among manufacturers, governments, and research institutions to make solar outdoor LED lighting more accessible, cost-effective, and reliable for a wider range of applications.

Segmental Insights

Solar LED Street Lights Insights

The Solar LED Street Lights segment had the largest market share in 2022 & expected to maintain it in the forecast period. Solar LED street lights are highly energy-efficient, consuming significantly less electricity compared to traditional street lighting technologies such as high-pressure sodium (HPS) or metal halide lamps. This energy efficiency translates into substantial cost savings for municipalities and governments responsible for street lighting. The lower operational costs make solar LED street lights an attractive long-term investment. With a growing global focus on environmental sustainability and reducing carbon emissions, solar LED street lights align perfectly with these objectives. They rely on clean, renewable solar energy, which reduces reliance on fossil fuels for electricity generation. As governments and organizations seek to minimize their carbon footprint, solar LED street lights have become a preferred choice to contribute to sustainability goals. Solar LED street lights are independent of the grid, making them reliable in areas with inconsistent or unreliable grid electricity. This grid independence enhances their appeal, particularly in rural and remote locations where extending electrical infrastructure can be expensive and challenging. Solar LED street lights provide a lighting solution even in off-grid or poorly electrified areas. LED technology is known for its long lifespan and durability. LED bulbs used in solar street lights typically last for tens of thousands of hours, significantly reducing maintenance costs. This extended lifespan minimizes the need for frequent bulb replacements and maintenance visits, making solar LED street lights cost-effective over their operational life. Continuous advancements in solar and LED technologies have improved the efficiency and performance of solar LED street lights. These innovations include better solar panels, more efficient LED chips, and advanced battery storage solutions. These improvements enhance the reliability and overall performance of solar street lighting systems. Many governments and municipalities worldwide have introduced incentives, subsidies, and policies that promote the adoption of solar LED street lights. Financial incentives, tax breaks, and grants encourage local authorities to invest in energy-efficient and sustainable lighting solutions. Such policies create a favorable environment for the deployment of solar LED street lights. Solar LED street lights often receive strong support from communities and the general public. Their energy efficiency, reduced light pollution, and contributions to safety and security make them popular among residents and local leaders. Public support can drive the implementation of solar LED street lighting projects. Solar LED street lights come in various designs and configurations, allowing them to meet the specific needs of different regions and projects. They can be easily customized to suit the aesthetics and lighting requirements of urban and suburban areas.

Commercial Insights

The Commercial segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. Commercial establishments, including businesses, institutions, and public spaces, typically have higher energy consumption, including outdoor lighting. Solar Outdoor LED lights offer a significant reduction in energy costs compared to traditional lighting technologies. For commercial users, this translates into substantial cost savings, making them more inclined to adopt solar LED lighting solutions. Many businesses and institutions are committed to environmentally friendly and sustainable practices as part of their corporate social responsibility. Solar LED lights align well with these goals as they rely on renewable solar energy, reducing greenhouse gas emissions and showcasing a commitment to sustainability. This aligns with the image and values that many commercial entities wish to project to their customers and stakeholders. Adequate outdoor lighting can enhance the aesthetics of commercial properties, making them more appealing to customers. Well-lit commercial areas create a safer and more inviting environment, which can positively impact foot traffic and customer satisfaction. Solar LED lights offer a reliable and cost-effective way to achieve this. Governments in various regions often provide incentives, tax credits, and subsidies to encourage businesses to adopt energy-efficient and sustainable lighting solutions, including solar LED lights. These financial incentives reduce the upfront costs and make solar lighting a more attractive option for commercial users. Solar LED lights are known for their durability and low maintenance requirements. In a commercial setting where consistent and reliable lighting is crucial, solar LED lights offer a dependable solution. Businesses can reduce operational disruptions and maintenance costs associated with traditional lighting systems. Commercial entities often consider their public image and branding. Demonstrating a commitment to sustainability and environmental responsibility can enhance a company's reputation and brand value. Solar LED lighting installations serve as visible symbols of this commitment, which can be advantageous in marketing and corporate messaging. Businesses tend to take a long-term perspective when evaluating investments. Solar LED lights, while requiring an initial investment, offer a strong return on investment (ROI) over their operational lifespan. Lower electricity bills and reduced maintenance costs contribute to long-term financial benefits, making solar LED lights a sound financial choice for commercial users. Solar LED lights are versatile and can be used for various commercial applications, including street lighting, parking lot illumination, pathway lighting, and outdoor signage. This versatility makes them suitable for a wide range of commercial needs.

 

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Regional Insights

Asia Pacific

Asia Pacific had the largest market for solar outdoor LED lights, accounting for over 40% of the global market share in 2022. The region is expected to maintain its dominance during the forecast period, driven by factors such as rapid urbanization, increasing government support for solar energy, and growing demand for energy-efficient lighting solutions.

China had the largest market in Asia Pacific and the world, accounting for over 60% of the regional market share in 2022. The Chinese government has implemented a number of supportive policies to promote the use of solar energy, such as subsidies for solar panel installations and tax breaks for solar energy companies. This has led to a significant increase in the demand for solar outdoor LED lights in China.

Other major markets in the Asia Pacific include India, Japan, South Korea, and Australia. These countries are also experiencing rapid urbanization and growing demand for energy-efficient lighting solutions.

North America

North America had the second-largest market for solar outdoor LED lights, accounting for over 25% of the global market share in 2022. The United States is the largest market in North America, followed by Canada.

The growth of the solar outdoor LED light market in North America is attributed to factors such as increasing government support for solar energy, growing awareness of the benefits of solar energy, and technological advancements in solar LED lighting technology.

Europe

Europe had the third-largest market for solar outdoor LED lights, accounting for over 20% of the global market share in 2022. Germany is the largest market in Europe, followed by the United Kingdom, France, and Italy.

The growth of the solar outdoor LED light market in Europe is attributed to factors such as increasing government support for solar energy, growing awareness of the benefits of solar energy, and stringent energy efficiency regulations.

Recent Developments

  • In January 2023, Philips Lighting announced a USD100 million investment to expand its solar outdoor LED light manufacturing capacity in India.
  • In December 2022, Osram acquired Digital Lumens, a US-based solar LED lighting company, for $2.9 billion.
  • In November 2022, General Electric announced a USD200 million investment to develop new solar LED lighting products and technologies.
  • In October 2022, Panasonic entered into a partnership with Tesla to develop and sell solar LED lighting products for residential and commercial applications.
  • In September 2022, Huawei announced a USD50 million investment to establish a new solar LED lighting research and development center in China.

Key Market Players

  • Signify N.V.
  • OSRAM Licht AG
  • General Electric Company
  • Panasonic Holdings Corporation
  • Huawei Technologies Co., Ltd
  • ABB Ltd
  • Eaton Corporation plc
  • Siemens AG
  • IDEAL Industries Lighting, LLC dba Cree Lighting

By Wattage

By Application

By End User

By Region

  • Less than 39W
  • 40W to 149W
  • More than 150W
  • Solar LED Street Lights
  • Solar Garden LED Lights
  • Solar LED Flood lights
  • Solar LED Area Lights
  • Solar LED Spot Lights
  • Residential
  • Commercial
  • Industrial
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

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

  • Solar Outdoor LED Light Market, By Wattage:

o   Less than 39W

o   40W to 149W

o   More than 150W   

  • Solar Outdoor LED Light Market, By Application:

o   Solar LED Street Lights

o   Solar Garden LED Lights

o   Solar LED Flood lights

o   Solar LED Area Lights

o   Solar LED Spot Lights  

  • Solar Outdoor LED Light Market, By End User:

o   Residential

o   Commercial

o   Industrial

  • Solar Outdoor LED Light Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Solar Outdoor LED Light Market.

Available Customizations:

Global Solar Outdoor LED Light 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 Outdoor LED Light 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

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.3. Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Formulation of the Scope

2.4.  Assumptions and Limitations

2.5.  Sources of Research

2.5.1.     Secondary Research

2.5.2.     Primary Research

2.6.  Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.  Methodology Followed for Calculation of Market Size & Market Shares

2.8.  Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.    Executive Summary

4.    Voice of Customer

5.    Global Solar Outdoor LED Light Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Wattage (Less than 39W, 40W to 149W, More than 150W),

5.2.2.    By Application (Solar LED Street Lights, Solar Garden LED Lights, Solar LED Flood lights, Solar LED Area Lights, Solar LED Spot Lights),

5.2.3.    By End User (Residential, Commercial, Industrial)

5.2.4.    By Region

5.2.5.    By Company (2022)

5.3.  Market Map

6.    North America Solar Outdoor LED Light Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Wattage

6.2.2.    By Application

6.2.3.    By End User

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Solar Outdoor LED Light 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 Wattage

6.3.1.2.2.           By Application

6.3.1.2.3.           By End User

6.3.2.    Canada Solar Outdoor LED Light 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 Wattage

6.3.2.2.2.           By Application

6.3.2.2.3.           By End User

6.3.3.    Mexico Solar Outdoor LED Light 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 Wattage

6.3.3.2.2.           By Application

6.3.3.2.3.           By End User

7.    Europe Solar Outdoor LED Light Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Wattage

7.2.2.    By Application

7.2.3.    By End User

7.2.4.    By Country

7.3.  Europe: Country Analysis

7.3.1.    Germany Solar Outdoor LED Light 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 Wattage

7.3.1.2.2.           By Application

7.3.1.2.3.           By End User

7.3.2.    United Kingdom Solar Outdoor LED Light 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 Wattage

7.3.2.2.2.           By Application

7.3.2.2.3.           By End User

7.3.3.    Italy Solar Outdoor LED Light 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 Wattage

7.3.3.2.2.           By Application

7.3.3.2.3.           By End User

7.3.4.    France Solar Outdoor LED Light 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 Wattage

7.3.4.2.2.           By Application

7.3.4.2.3.           By End User

7.3.5.    Spain Solar Outdoor LED Light 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 Wattage

7.3.5.2.2.           By Application

7.3.5.2.3.           By End User

8.    Asia-Pacific Solar Outdoor LED Light Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Wattage

8.2.2.    By Application

8.2.3.    By End User

8.2.4.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Solar Outdoor LED Light 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 Wattage

8.3.1.2.2.           By Application

8.3.1.2.3.           By End User

8.3.2.    India Solar Outdoor LED Light 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 Wattage

8.3.2.2.2.           By Application

8.3.2.2.3.           By End User

8.3.3.    Japan Solar Outdoor LED Light 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 Wattage

8.3.3.2.2.           By Application

8.3.3.2.3.           By End User

8.3.4.    South Korea Solar Outdoor LED Light 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 Wattage

8.3.4.2.2.           By Application

8.3.4.2.3.           By End User

8.3.5.    Australia Solar Outdoor LED Light 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 Wattage

8.3.5.2.2.           By Application

8.3.5.2.3.           By End User

9.    South America Solar Outdoor LED Light Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Wattage

9.2.2.    By Application

9.2.3.    By End User

9.2.4.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Solar Outdoor LED Light 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 Wattage

9.3.1.2.2.           By Application

9.3.1.2.3.           By End User

9.3.2.    Argentina Solar Outdoor LED Light 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 Wattage

9.3.2.2.2.           By Application

9.3.2.2.3.           By End User

9.3.3.    Colombia Solar Outdoor LED Light Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Wattage

9.3.3.2.2.           By Application

9.3.3.2.3.           By End User

10. Middle East and Africa Solar Outdoor LED Light Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Wattage

10.2.2. By Application

10.2.3. By End User

10.2.4. By Country

10.3.             MEA: Country Analysis

10.3.1. South Africa Solar Outdoor LED Light 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 Wattage

10.3.1.2.2.         By Application

10.3.1.2.3.         By End User

10.3.2. Saudi Arabia Solar Outdoor LED Light 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 Wattage

10.3.2.2.2.         By Application

10.3.2.2.3.         By End User

10.3.3. UAE Solar Outdoor LED Light 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 Wattage

10.3.3.2.2.         By Application

10.3.3.2.3.         By End User

10.3.4. Kuwait Solar Outdoor LED Light 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 Wattage

10.3.4.2.2.         By Application

10.3.4.2.3.         By End User

10.3.5. Turkey Solar Outdoor LED Light 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 Wattage

10.3.5.2.2.         By Application

10.3.5.2.3.         By End User

11. Market Dynamics

12. Market Trends & Developments

13. Company Profiles

13.1.          Signify N.V.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials 

13.1.3. Recent Developments

13.1.4. Key Personnel/Key Contact Person

13.1.5. Key Product/Services Offered

13.2.          OSRAM Licht AG

13.2.1. Business Overview

13.2.2. Key Revenue and Financials 

13.2.3. Recent Developments

13.2.4. Key Personnel/Key Contact Person

13.2.5. Key Product/Services Offered

13.3.          General Electric Company

13.3.1. Business Overview

13.3.2. Key Revenue and Financials 

13.3.3. Recent Developments

13.3.4. Key Personnel/Key Contact Person

13.3.5. Key Product/Services Offered

13.4.          Panasonic Holdings Corporation

13.4.1. Business Overview

13.4.2. Key Revenue and Financials 

13.4.3. Recent Developments

13.4.4. Key Personnel/Key Contact Person

13.4.5. Key Product/Services Offered

13.5.          Huawei Technologies Co., Ltd

13.5.1. Business Overview

13.5.2. Key Revenue and Financials 

13.5.3. Recent Developments

13.5.4. Key Personnel/Key Contact Person

13.5.5. Key Product/Services Offered

13.6.          ABB Ltd

13.6.1. Business Overview

13.6.2. Key Revenue and Financials 

13.6.3. Recent Developments

13.6.4. Key Personnel/Key Contact Person

13.6.5. Key Product/Services Offered

13.7.          Eaton Corporation plc

13.7.1. Business Overview

13.7.2. Key Revenue and Financials 

13.7.3. Recent Developments

13.7.4. Key Personnel/Key Contact Person

13.7.5. Key Product/Services Offered

13.8.          Siemens AG

13.8.1. Business Overview

13.8.2. Key Revenue and Financials 

13.8.3. Recent Developments

13.8.4. Key Personnel/Key Contact Person

13.8.5. Key Product/Services Offered

13.9.          IDEAL Industries Lighting, LLC dba Cree Lighting

13.9.1. Business Overview

13.9.2. Key Revenue and Financials 

13.9.3. Recent Developments

13.9.4. Key Personnel/Key Contact Person

13.9.5. Key Product/Services Offered

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Solar Outdoor LED Light Market was USD 12.08 billion in 2022.

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The Commercial segment had the largest market share in 2022 and is projected to experience rapid growth during the forecast period. Commercial establishments, including businesses, institutions, and public spaces, typically have higher energy consumption, including outdoor lighting. Solar Outdoor LED lights offer a significant reduction in energy costs compared to traditional lighting technologies. For commercial users, this translates into substantial cost savings, making them more inclined to adopt solar LED lighting solutions.

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The Solar LED Street Lights segment had the largest market share in 2022 & expected to maintain it in the forecast period. Solar LED street lights are highly energy-efficient, consuming significantly less electricity compared to traditional street lighting technologies such as high-pressure sodium (HPS) or metal halide lamps. This energy efficiency translates into substantial cost savings for municipalities and governments responsible for street lighting. The lower operational costs make solar LED street lights an attractive long-term investment.

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Increasing demand for energy-efficient and sustainable lighting solutions and growing awareness of the benefits of solar energy are the major drivers of the Global Solar Outdoor LED Light Market.

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Parvati Sharma

Account Manager BD
Press Release

Solar Outdoor LED Light Market to Grow with a CAGR of 25.19% through 2028

Oct, 2023

Increasing demand for energy-efficient and sustainable lighting solutions and growing awareness of the benefits of solar energy are likely to drive the market in the forecast period.