Home Semiconductor & Electronics Outdoor Solar LED Market Analysis, Trends, Forecast Up to 2032

Outdoor Solar LED Market

Outdoor Solar LED Market Size, Share & Trends Analysis Report Application (Solar LED Street Lights, Solar Garden LED Lights, Solar LED Floodlights, Solar LED Area Lights, Solar LED Spot Lights), Wattage (Less than 39W, 40W to 149W, More than 150W), End-Use (Residential, Commercial, Industrial) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRSE2910DR
Study Period 2020-2032 CAGR 24.9%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 7.54 billion
Forecast Year 2032 Forecast Year Market Size USD 55.77 billion
Largest Market Asia-Pacific Fastest Growing Market Europe
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Market Overview

The global outdoor solar LED market size was valued at USD 7.54 billion in 2023. It is expected to reach USD 55.77 billion in 2032, growing at a CAGR of 24.9% over the forecast period (2024-32). Supportive government policies, incentives, and subsidies promoting renewable energy adoption and energy efficiency play a crucial role in the growth of the outdoor solar LED market. Initiatives such as tax credits, rebates, and grants encourage the deployment of solar lighting solutions.

Outdoor LED lights powered by photovoltaic systems are referred to as solar lights. These panels recharge a battery that provides enough power for outdoor LED lights. The popularity of solar outdoor LED lights is growing, and the global residential and commercial sectors are expanding quickly simultaneously. Extremes in temperature, weather, and UV rays are not a problem for solar LED lights' robustness.

Batteries charged with electricity from solar photovoltaic panels power solar lighting systems. This device comprises a battery, solar panel, LED lamp, and charge controller. The photovoltaic effect, used in solar and photovoltaic panels, is at the heart of the solar lighting system's operation. It collects solar energy and converts it into lighting. The captured energy is kept in a rechargeable gel cell battery that is later used to create night-time lighting. It is primarily used for streetlights and small spaces like porches and gardens. Photovoltaic panels power solar outdoor LED lights. LED outdoor lights are powered by a rechargeable battery charged by these panels. The demand for solar outdoor LED lights is steadily rising due to their rising popularity and rapid expansion worldwide in the residential and commercial sectors. Solar LED lights have a long lifespan and can withstand changes in temperature, elements, and UV rays.

Market Dynamics

Global Outdoor Solar LED Market Driver

Growing concerns regarding energy drain and cost

It is anticipated that increasing investments in this sector, growing worries regarding energy waste, and the cost-efficiency offered by solar LED products compared to traditional lighting products will all contribute to market growth over the next few years. Solar LEDs store solar energy in Photovoltaic Modules (PV) and provide a long-term, cost-effective solution for commercial and industrial properties. This contrasts with conventional lighting, which uses high-pressure sodium lights connected to an electric grid. End users have a more affordable option to consider with outdoor solar LEDs due to reduced dependencies on the off-grid process and the trenching procedure.

Awareness along with stringent regulatory reforms

Solar LED component prices are anticipated to fall due to several factors, including falling battery prices, falling prices for LED lighting, innovations in product design, and improvements in the lighting efficiency of landscape lighting products. It is anticipated that municipalities in underdeveloped and developing regions will be encouraged to adopt solar LEDs due to price reductions and other advantages such as a longer life expectancy, ease of installation, and low maintenance and operational costs. In addition, the growing awareness about renewable energy assets and stringent regulatory reforms focused on developing sustainable infrastructure across both developed and developing regions are anticipated to favour the market's growth.

Global Outdoor Solar LED Market Restraint

Whether dependency and high initial cost

Some restrictions, as well as difficulties, are hampering the development of the industry. The high initial costs, the lack of understanding regarding financing and payback, and the reliance on the weather are the issues that are hindering the growth of the market. The lack of LED institutionalization plans worldwide is one of the primary factors impeding the expansion of the solar road lighting industry. In some countries, the governments have established stringent regulations to encourage the use of significant inventions, but they have refrained from institutionalizing their decisions. After that, the LED solar road lighting gauges will move worldwide in different locations.

Regional Analysis

According to the region, the market is segmented into North America, Europe; Asia Pacific; Latin America and MEA.

The largest revenue share was contributed by the Asia Pacific region, which dominated the market. China has dominated regional market expansion, and the trend is anticipated to last throughout the forecast period. The regional market expansion can be attributed to the rise in smart cities, infrastructure, and city expansion projects across a number of the region's nations. Government programmes aimed at implementing street lighting solutions in China, India, and Southeast Asian nations' rural and urban markets have exploded in the region; this is expected to support market expansion. Europe has the highest demand for outdoor solar LEDs, followed by the Asia Pacific region. Over the forecast period, the regional market is likely to maintain its position. Throughout the forecast period, road and highway infrastructure development plans in the U.K., Germany, France, and other European nations are anticipated to propel the demand for solar LED streetlights.

Report Scope

Report Metric Details
  1. Solar LED Street Lights
  2. Solar Garden LED Lights
  3. Solar LED Floodlights
  4. Solar LED Area Lights
  5. Solar LED Spot Lights
  1. Less than 39W
  2. 40W to 149W
  3. More than 150W
  1. Residential
  2. Commercial
  3. Industrial
Company Profiles Greenshine New Energy Jiawei LEADS OkSolar SBM-SolarTech SEPCO Solar Electric Power Company Signify Holding SOKOTO Solar Street Lights USA Sunna Design SA
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The Global Outdoor Solar LED Market is segmented into application, Wattage, end-use and region. By application, the market is divided into Solar LED Street Lights, Solar Garden LED Lights, Solar LED Floodlights, Solar LED Area Lights, and Solar LED Spot Lights. The solar LED street light segment dominated the market and had the highest revenue share. Throughout the forecast, the trend is anticipated to persist. It is anticipated that expanding innovative city initiatives and investing in activities to improve road infrastructure across a number of nations will spur segment growth. Furthermore, to encourage energy conservation, many local governments worldwide are looking for Public-Private Partnerships (PPP) to secure funding for installing solar street lights, thereby favouring segment growth.

Based on Wattage, the market is categorized into Less than 39W, 40W to 149W and More than 150W. The 40W to 149W segment dominated the market, which had the largest market share. Floodlights, street lights, and path lights are standard items with power ranging from 40W to 149W and are used in tunnels, highways, streets, and path lights. The segment is anticipated to grow over the forecast period due to the development of products that offer increased lighting intensity with reduced power consumption. The segment is expanding due to the growing demand to replace outdated street lighting systems with energy-efficient lighting options.

Based on End-use, the market is categorized into Residential, Commercial and Industrial. Most of the market's revenue came from the commercial end-use segment, which dominated the market. The demand for solar LEDs in the commercial sector is anticipated to rise as investments in infrastructure development initiatives for solar street lighting increase. Additionally, several utilities, the federal government, and local governments offer tax breaks and incentive programmes to commercial users to promote and encourage the adoption of solar LED lights. Therefore, the demand for solar LEDs is anticipated to increase in the commercial sector over the forecast period to facilitate the adoption of renewable energy systems and energy efficiency.

Market Size Application

Market Size Application
  • Solar LED Street Lights
  • Solar Garden LED Lights
  • Solar LED Floodlights
  • Solar LED Area Lights
  • Solar LED Spot Lights
  • Recent Developments

    • April 2024 - A Blue Outdoor subsidiary, Bluebolt Outdoor LLC, constructed solar-powered benches on campus in partnership with the sustainability section of California State University - Dominguez Hills. The benches, which are powered by the sun and can charge devices, are a free resource that the university provides to its students, teachers, and guests. The increasing number of colleges adopting affordable sustainability is in line with this initiative.

    Key Players

    Outdoor Solar LED Market Share of Key Players

    Outdoor Solar LED Market Share of Key Players
    Greenshine New Energy Jiawei LEADS OkSolar SBM-SolarTech SEPCO Solar Electric Power Company Signify Holding SOKOTO Solar Street Lights USA Sunna Design SA Others

    Frequently Asked Questions (FAQs)

    What is the estimated growth rate (CAGR) of the Outdoor Solar LED Market?
    Outdoor Solar LED Market size will grow at approx. CAGR of 24.9% during the forecast period.
    Some of the top prominent players in Outdoor Solar LED Market are, Greenshine New Energy, Jiawei, LEADS, OkSolar, SBM-SolarTech, SEPCO Solar Electric Power Company, Signify Holding, SOKOTO, Solar Street Lights USA, Sunna Design SA, etc.
    Asia-Pacific has held a dominant position in the Outdoor Solar LED Market, with the largest market share.
    The region with the most rapid expansion in the Outdoor Solar LED Market is Europe.
    The global Outdoor Solar LED Market report is segmented as follows: Application, Wattage, End-Use

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