Solar Outdoor LED Lighting Market Synopsis

Solar Outdoor LED Lighting Market Size Was Valued at USD 8.26 Billion in 2023, and is Projected to Reach USD 65.18 Billion by 2032, Growing at a CAGR of 25.8 % From 2024-2032.

Solar outdoor LED lighting is a lighting system that relies on solar energy and utilizes light-emitting diodes (LEDs) as its light source. These fixtures integrate solar panels to capture sunlight during the day, storing the collected energy in batteries. This stored energy is subsequently employed to illuminate the LED lights during the night.

• Solar outdoor LED lighting finds diverse applications, presenting an energy-efficient and sustainable solution for illuminating various outdoor areas. Widely deployed for street lighting, pathway illumination, garden lighting, and security purposes, these fixtures are designed to capture solar energy during the day and deliver illumination throughout the night. They prove particularly valuable in remote or off-grid locations where accessing traditional electricity sources may be challenging.
• The advantages of solar outdoor LED lighting are manifold. Primarily, they contribute to significant energy savings and cost reduction by harnessing renewable solar energy. Moreover, these lighting systems are environmentally friendly, generating minimal carbon emissions compared to conventional grid-powered lighting. The low maintenance requirements and straightforward installation make solar LED lights a pragmatic choice, often leading to reduced operational costs and ensuring long-term reliability. Additionally, solar outdoor LED lighting enhances safety and security in outdoor spaces by providing dependable illumination during night-time hours. With ongoing technological advancements, these lighting solutions are becoming more efficient, affordable, and widely adopted, further promoting sustainable practices and diminishing the ecological impact of outdoor lighting.

Solar Outdoor LED Lighting Market Trend Analysis:

Growing Urbanization and Smart City Development

• The Solar Outdoor LED Lighting market is undergoing substantial growth, driven by global trends such as increasing urbanization and the development of smart cities. With the rise in urban populations, there is a growing demand for effective and sustainable outdoor lighting solutions to enhance safety, visibility, and aesthetics in urban areas. Solar outdoor LED lighting, capable of operating independently of the traditional power grid, becomes a key element in meeting these evolving demands.
• Smart city initiatives, aimed at integrating technology to enhance urban living, are fostering the adoption of solar outdoor LED lighting. These systems can be equipped with sensors and smart controls, enabling adaptive lighting solutions based on real-time data, such as pedestrian traffic, weather conditions, and energy consumption. The incorporation of solar-powered LED lighting aligns with the broader objectives of smart cities, promoting energy efficiency, reducing environmental impact, and enhancing overall urban sustainability.
• Furthermore, the decentralized nature of solar outdoor LED lighting makes it an ideal choice for areas with limited access to electricity, contributing to inclusive urban development. As cities worldwide prioritize energy efficiency and environmental responsibility, the Solar Outdoor LED Lighting market is poised for growth, playing a pivotal role in shaping the future of urban landscapes through sustainable and technologically advanced lighting solutions.

Increased Adoption of Recycled Materials

• The Solar Outdoor LED Lighting market is witnessing substantial growth opportunities due to the increasing emphasis on the use of recycled materials in the manufacturing process. With a global focus on environmental sustainability, the integration of recycled materials in solar lighting systems aligns with broader objectives of reducing environmental impact and promoting circular economy practices. Manufacturers are exploring ways to incorporate recycled components, such as recycled plastics and metals, in the production of solar outdoor LED lighting fixtures, contributing to resource conservation and waste reduction.
• The adoption of recycled materials in solar outdoor LED lighting not only supports environmental sustainability but caters to the growing demand for eco-friendly and socially responsible products. The use of recycled materials enhances the overall sustainability profile of solar lighting systems, making them more appealing to environmentally conscious consumers and businesses. This trend corresponds with the increasing awareness of the environmental footprint associated with manufacturing processes, prompting stakeholders in the Solar Outdoor LED Lighting market to embrace more sustainable and responsible practices.
• Furthermore, incorporating recycled materials in solar outdoor LED lighting can lead to cost savings and improve the economic viability of these systems. As the market evolves, the emphasis on using recycled materials presents a strategic opportunity for industry players to differentiate their products, meet changing consumer preferences, and contribute to a more sustainable future.

Solar Outdoor LED Lighting Market Segment Analysis:

Solar Outdoor LED Lighting Market Segmented on the basis of Type, Power Source, Wattage End- User and Distribution Channel

By End- User, Residential segment is expected to dominate the market during the forecast period

• The residential segment is anticipated to dominate the Solar Outdoor LED Lighting market, reflecting the growing demand for sustainable and energy-efficient lighting solutions in residential settings. As homeowners increasingly seek environmentally friendly alternatives, solar outdoor LED lighting stands out for its ability to provide illumination powered by renewable energy. These fixtures are easy to install, require minimal maintenance, and operate independently of the traditional power grid, making them an attractive choice for residential applications.
• With a focus on reducing energy costs and minimizing environmental impact, homeowners are embracing solar outdoor LED lighting for various purposes, including pathway lighting, garden illumination, and decorative lighting. The residential segment's dominance underscores the market's response to the increasing trend of environmentally conscious consumer choices, aligning with the broader push towards sustainable and smart living practices in residential areas.

By Type, Solar LED Street Lights segment held the largest share of 49.34% in 2022

• The Solar LED Street Lights segment has asserted its dominance, capturing the majority share in the Solar Outdoor LED Lighting market. This leadership position is driven by the escalating global adoption of solar LED street lights, fueled by the increasing emphasis on energy efficiency, sustainability, and smart city initiatives. Solar LED streetlights offer a dependable and cost-effective lighting solution for both urban and rural areas, harnessing renewable energy sources for efficient illumination.
• The advantages of solar LED streetlights, including reduced electricity costs, minimal environmental impact, and decreased maintenance requirements, contribute to their widespread deployment. Municipalities and local governments are progressively turning to solar LED street lighting to enhance public safety, improve road visibility, and diminish carbon footprints. With the world's growing focus on transitioning to renewable energy solutions, the Solar LED streetlights segment stands at the forefront of the Solar Outdoor LED Lighting market.

Solar Outdoor LED Lighting Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Asia Pacific is expected to dominate the Solar Outdoor LED Lighting market, showcasing significant growth and market leadership. The region's dominance is influenced by several factors, including rising urbanization, increasing government initiatives promoting renewable energy, and a growing demand for energy-efficient lighting solutions. Countries such as China, India, and Japan are witnessing substantial growth in the adoption of solar outdoor LED lighting systems as they align with sustainable development goals and smart city initiatives.
• The expanding urban population in Asia Pacific has led to a surge in demand for reliable and eco-friendly lighting solutions, propelling the region to the forefront of the solar outdoor LED lighting market. Additionally, favorable government policies and incentives supporting solar energy adoption contribute to the market's growth. As Asia Pacific continues to prioritize sustainable practices and embraces technological advancements.

Solar Outdoor LED Lighting Market Top Key Players:

• CREE Lighting (United States)
• Eaton Corporation (United States)
• Gamasonic (United States)
• Hubbell Outdoor (United States)
• Greenshine New Energy (United States)
• Solar Street Lights USA (United States)
• OkSolar (United States)
• SBM-SolarTech (United States)
• SEPCO Solar Electric Power Company (United States)
• Carmanah Technologies (Canada)
• Signify Holding (Netherlands)
• Hollandia Power (Netherlands)
• Osram Licht AG (Germany)
• Sunna Design SA (France)
• FlexSol Solutions (United Kingdom)
• Ligman (Thailand)
• Jiawei (China)
• LEADSUN (China)
• Sokoyo Solar Lighting Co. Ltd (China)
• Shenzhen Spark (China)

Key Industry Developments in the Solar Outdoor LED Lighting Market:

• In August 28, 2023, Eaton announced a $500 million investment in North American manufacturing to support electrification, energy transition, and digitalization. With a focus on transformers and infrastructure projects, expansions in Texas and Wisconsin aim to meet surging utility demand.
• In May 2023, Signify, a global leader in lighting listed on Euronext as LIGHT, has introduced the inaugural 'Philips Solar Light Hub' in India. This initiative aims to provide customers with an engaging environment to discover solar lighting solutions and exhibit the extensive array of products. The store is designed to serve diverse user segments, ranging from residential and garden to industrial and street lighting applications
• In April 2023, Eaton a leading intelligent power management company, has successfully acquired the 49% ownership stake in Jiangsu Ryan Electrical Co. Ltd. (Ryan), a Chinese manufacturer specializing in power distribution and sub-transmission transformers. In 2022, Ryan generated approximately $100 million in revenue.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. SOLAR OUTDOOR LED LIGHTING MARKET BY TYPE (2017-2032)
   1. SOLAR OUTDOOR LED LIGHTING MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. SOLAR LED STREET LIGHTS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. SOLAR GARDEN LED LIGHTS
   5. SOLAR LED FLOODLIGHTS
   6. SOLAR LED AREA LIGHTS
   7. SOLAR LED SPOTLIGHTS
7. SOLAR OUTDOOR LED LIGHTING MARKET BY POWER SOURCE (2017-2032)
   1. SOLAR OUTDOOR LED LIGHTING MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. STANDALONE SOLAR-POWERED
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. GRID-TIED SOLAR-POWERED
8. SOLAR OUTDOOR LED LIGHTING MARKET BY WATTAGE (2017-2032)
   1. SOLAR OUTDOOR LED LIGHTING MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. LESS THAN 39W
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. 40W TO 149W
   5. MORE THAN 150W
9. SOLAR OUTDOOR LED LIGHTING MARKET BY END-USER (2017-2032)
   1. SOLAR OUTDOOR LED LIGHTING MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. RESIDENTIAL
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. COMMERCIAL
   5. INDUSTRIAL
10. SOLAR OUTDOOR LED LIGHTING MARKET BY DISTRIBUTION CHANNEL (2017-2032)
    1. SOLAR OUTDOOR LED LIGHTING MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. ONLINE RETAIL
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2017 – 2032F)
       3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. SPECIALTY STORES
    5. DIRECT SALES
11. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Positioning
       2. Solar Outdoor LED Lighting Market Share By Manufacturer (2022)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. CREE LIGHTING (UNITED STATES)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. EATON CORPORATION (UNITED STATES)
    4. GAMASONIC (UNITED STATES)
    5. HUBBELL OUTDOOR (UNITED STATES)
    6. GREENSHINE NEW ENERGY (UNITED STATES)
    7. SOLAR STREET LIGHTS USA (UNITED STATES)
    8. OKSOLAR (UNITED STATES)
    9. SBM-SOLARTECH (UNITED STATES)
    10. SEPCO SOLAR ELECTRIC POWER COMPANY (UNITED STATES)
    11. CARMANAH TECHNOLOGIES (CANADA)
    12. SIGNIFY HOLDING (NETHERLANDS)
    13. HOLLANDIA POWER (NETHERLANDS)
    14. OSRAM LICHT AG (GERMANY)
    15. SUNNA DESIGN SA (FRANCE)
    16. FLEXSOL SOLUTIONS (UNITED KINGDOM)
    17. LIGMAN (THAILAND)
    18. JIAWEI (CHINA)
    19. LEADSUN (CHINA)
    20. SOKOYO SOLAR LIGHTING CO. LTD (CHINA)
    21. SHENZHEN SPARK (CHINA)
12. GLOBAL SOLAR OUTDOOR LED LIGHTING MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Type
       4. Historic And Forecasted Market Size By Power Source
       5. Historic And Forecasted Market Size By Wattage
       6. Historic And Forecasted Market Size By End-User
       7. Historic And Forecasted Market Size By Distribution Channel
       8. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
13. INVESTMENT ANALYSIS
14. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies