Outdoor Solar LED Market: Global Industry Analysis and Forecast (2024 -2030)

Global Outdoor Solar LED Market size was valued at USD 7.82 Bn. in 2023 and the total Outdoor Solar LED revenue is expected to grow by 25.10% from 2024 to 2030, reaching nearly USD 37.50 Bn.
Outdoor Solar LED Market Overview:
Outdoor Solar LED is the lighting solutions that work with light-emitting diodes (LEDs) and get their power from solar energy. These lights capture sunlight using photovoltaic panels, which then convert it into electrical energy stored in batteries for use during dark hours of the day. These are environmentally friendly options compared to usual outdoor lights since they save power, require less upkeep, and do not rely on the electrical system. For illumination needs outdoors, the frequently used type of outdoor solar LED lights. These lights are often utilized for street lighting, garden illumination, pathway lighting, and other similar outdoor applications.

The demand for the Outdoor Solar LED market is increasing due to the growing environmental problems and pollution, the rising demand for energy-efficient solar LED lighting systems is driving the market growth. Another contributing element to the growth of the Outdoor Solar LED market is the increasing use of renewable lighting energy, which is increasing demand in developing and emerging countries. Solar LED lights offer little maintenance and are ecologically beneficial and economical. Solar energy is one of the most effective forms of limitless renewable energy, and many countries are doing a fantastic job of encouraging the use of solar panels by families and enterprises.

In the UAE, Asia, the Middle East, and Africa, for several years, solar LED street lighting projects have been running. The City Council of Birmingham has given McCann Ltd. a contract to replace the existing Birmings 3.000 lighting units with updated LED technology and related street lighting infrastructure. In 2016, the UK government similarly made provision for upgrading the A-14 route between Huntingdon and Cambridge for about $2.03 billion (€1.5 billion). Electric Services Ltd has put up a total of 24 solar LED lights for the project.

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Global Outdoor Solar LED Market Dynamics:
Drivers of the Outdoor Solar LED Market

Technological advancements: Ongoing advancements in technology are crucial for increasing the attractiveness and effectiveness of Outdoor Solar LED systems. Continuous advancements in solar panel efficiency, battery technology, and LED lighting efficiency are boosting the performance and dependability of these lighting solutions. This never-ending evolution is making Outdoor Solar LEDs more appealing as a substitute for regular lights, encouraging their use in different situations.

Cost Saving: For the Outdoor Solar LED Market, savings in cost are an attractive motivation. When talking about long-term benefits, solar LEDs save a lot of money because they use less energy and need less maintenance than normal lighting choices. The advantage of this saving is especially appealing to commercial and residential users who want to make their business expenses efficient while also supporting sustainable methods.

Rapid urbanization and growth of infrastructures: The increasing demand for outdoor lighting solutions is driven by fast urbanization and development of infrastructures in emerging economies, which are creating a need worldwide. As cities grow bigger, there becomes a higher necessity for sustainable and economically feasible lighting choices. Outdoor Solar LEDs meet these requirements because they offer dependable lighting solutions that are not dependent on the grid, helping to expand outdoor lighting networks affordably.

Government Initiatives: Government actions and encouragements are very important for growth in the Outdoor Solar LED Industry. Policies that help, subsidies, and incentives to push renewable energy projects like solar lighting can also boost how much they are used. These steps not only help improve market entry but also encourage investment in solar LED technologies by cutting down on the early costs of setting up this type of system. These actions are beneficial for municipalities, businesses, and residential users. They push the market to expand more.

Restraints of the Outdoor Solar LED Market

High Integration Costs: Even though there are many advantages, the Outdoor Solar LED Market also has some challenges that could slow down its growth. One main limitation is the first cost hurdle linked to setting up solar LED systems. The money needed at first can be more than traditional lighting choices, and this might discourage use - especially in areas where finance is limited or quick budget limits guide decisions.

Reliability on Sunlight: Another important problem is the reliance of outdoor Solar LED lighting systems on sunlight. These lights get power from solar panels which generate electricity using the sun's energy. This means that they are subject to changes in weather patterns. If there is a long period without clear skies or if the weather becomes bad for some time, then less energy will be produced and this can affect how reliable and constant these outdoor lighting solutions are. Outdoor Solar LED Manufacturers and Outdoor Solar LED suppliers in the industry are still very concerned about lessening these effects related to weather. Reliability is also an issue for the general acceptance of Outdoor Solar LED solutions. Some people may question how well solar LED systems work, especially in tough environmental situations or faraway places. This doubt about performance might make potential customers hesitate to put money into these technologies. To overcome this hurdle, it's very important to focus on dealing with these doubts through technological advancements and thorough tests of reliability which can help in building trust and faith among end-users.

Opportunities for the Outdoor Solar LED Market

Investments for Smart City Plans: In the Outdoor Solar LED Market, there are many chances for people in the industry to grow and come up with new ideas. The worldwide increase in investments in smart city plans is a big opportunity for Outdoor Solar LED lighting solutions. These plans focus on using IoT technology to combine with outdoor solar lighting systems so they can be observed and controlled from far away. This improves how well they work and lessens costs both for local governments as well as businesses.

Emerging regions: Growing markets in developing areas give significant opportunity for growth to the Outdoor Solar LED Market. In many of these markets, grid infrastructure is not consistent which makes solar LEDs a feasible and appealing substitute for expanding outdoor light networks. Outdoor Solar LED Producers and providers have the chance to enter into these unexplored markets, pushing market expansion forward while also varying their clientele variety.

Product Innovation: In design elements such as modular systems, customizable solutions, and improving aesthetics can greatly affect market appeal and cater to diverse customer requirements. Innovations that improve reliability, performance, and ease of installation are important in driving adoption rates across different applications.

People's rising concern for energy independence: The concern related to energy independence among people and their wish to be strong against power failure is increasing the need for off-grid Outdoor Solar LED. Especially in faraway places or areas that frequently experience natural calamities, there is a growing appreciation for the ability to depend on self-sufficient sources of energy. This trend offers chances to Outdoor Solar LED Manufacturers and providers who want to create special solutions that suit these particular requirements and circumstances.


Global Outdoor Solar LED Market Segment Analysis
Based on Wattage, the outdoor solar LED market is classified into three types. Less than 39W, 40W to 149W, Greater than 150W. In 2023, the 40W to 149W segment led the market, accounting for more than xx % of the total Outdoor Solar LED Market Share. Popular goods with power between 40W and 149W include street lamps and luminaires, which may be used in tunnels, roads, and road lights. The development of goods with increased illumination intensity, with restricted energy use, has led to more developments that will fuel category expansion during the projection period. Furthermore, the growing need for the up-gradation of traditional road lights with powerful illumination, solutions drives the segment's growth.

Based on the application, the Outdoor Solar LED Market is classified into Solar LED street lights, Solar LED garden lights, Solar LED floodlights, Solar LED area lights, and Solar LED spotlights. In 2023, the solar LED street lighting segment led the market, with a revenue share of more than xx percent.

Over the forecast period, the trend is likely to continue. The increase in smart city initiatives and investments in road infrastructure upgrade operations in various nations are expected to boost sector growth. Furthermore, to encourage energy savings, several local governments across the world are pursuing Public-Private Partnerships (PPP) to acquire money for the installation of solar street lights, thus supporting sector growth.

Over the projected period, the demand for solar LEDs for gardening applications is expected to grow at a CAGR of more than xx percent. The segment's growth has been helped by the availability of a wide selection of solar garden LED products at an accessible price point, a trend that is likely to continue in the coming years. In addition to affordability and product selection, the lack of complicated wire systems provides homeowners with much-needed installation freedom as compared to alternative lighting sources. In addition, the rising popularity of do-it-yourself gardening and landscaping is also boosting the segment's development.



Based on the End User, The Outdoor Solar LED market is segmented into residential, commercial, and industrial. Commercial end-users dominated the market in 2023 and accounted for over xx percent of total revenue. As expenditures on solar street lighting infrastructure development initiatives grow, demand for solar LEDs in the commercial market is expected to surge. Furthermore, to encourage and support the use of solar LED lighting, several utilities, municipalities, and local governments provide tax rebates and incentive programs for corporate customers. As a result, solar LED demand in the commercial sector is expected to increase.

Over the forecast period, the residential category is expected to grow at a stable CAGR during the forecast period. The growth of the category may be linked to an increase in expenditure on outdoor settings for arranging gatherings, parties, and a range of activities. This industry is also projected to benefit from solar PV modules that save electricity.


Outdoor Solar LED Market Regional Insights:
In terms of regional insight, Asia Pacific leads the market, holding more than xx of the Outdoor Solar LED market in 2023. China is on top of the regional market growth. The growth of the regional market may be due to the rising number of smart cities, infrastructure development, and city expansion projects in various nations in the area. In China, India, and Southeast Asian nations, there has been a rise in government efforts focused on implementing street lighting solutions in rural and urban areas, which is likely to contribute towards the growth of the Outdoor Solar LED market.

Europe has the largest demand for outdoor solar LEDs, followed by the Asia Pacific. Over the projection period, the regional market is expected to maintain its position, with a CAGR of about xx%. Over the forecast period, ongoing and future road and highway infrastructure development plans in the United Kingdom, Germany, France, and other European nations are projected to increase demand for solar LED streetlights. Furthermore, an increase in public-private partnership efforts to raise funds for solar projects in these countries is projected to fuel market growth. Furthermore, the market is expected to be fuelled by the growing demand for decorative and outdoor architectural lighting across Europe.



The top 3 importers of Solar Outdoor Lighting are Vietnam, Peru, and the United States with shipments of 2,500+, 700+, and 600+. Vietnam and the United States are also the top exporters of Solar Outdoor Lighting with 100+, and 200+ shipments respectively. The largest exporter of Solar Outdoor Lighting is China with shipments of 5,300+.





Top 3 Importers of the Solar Outdoor Lighting (No. of Shipments) (2024)


Vietnam
2500+


Peru
700+


United States
600+






Top 3 Exporters of the Solar Outdoor Lighting (No. of Shipments) (2024)


Vietnam
100+


China
5300+


United States
200+



Competitive Landscape:

Competition in the Outdoor Solar LED Market

The outdoor solar LED market is highly competitive, featuring many important players. Green Shine New Energy, recognized for its creative solar LED solutions, concentrates on high-efficiency products designed particularly for outdoor uses. They have a strong range of items such as solar street lights, garden lights, and floodlights which make them stand out in this field. On January 26, 2021, it was declared that Greenshine New Energy delivered its two fresh solar pathway lighting projects for public use. These works have caught the attention of media companies as they are expected to enhance safety and protection in a high-foot-traffic region, thus boosting the usage of energy-efficient lighting.

LEADSUN, a major company in this field, sets itself apart with cutting-edge technology for solar lighting solutions. They provide a wide variety of products from solar street lights to combined solar garden lights. This serves both commercial and home markets. Their strong focus on quality and sustainability adds more advantages to them in competition.

Ok Solar, who is a specialist in solar energy systems, also takes part in the Outdoor Solar LED Market. They make available trustworthy solar LED lighting options that can be used for different outside settings. These solutions are planned to last and perform well under tough outdoor conditions. Ok Solar uses its wide knowledge about renewable energy to give lighting solutions that are not costly and good for the environment too.

SBM-SolarTech is a company that has been recognized for its wide range of solar LED products, created both for city and countryside use. The reputation they have gained from their adaptive lighting systems which aim to maximize energy efficiency with environment-friendly features adds to their competitive advantage in the market. The worldwide coverage and dedication to innovation also boost SBM-SolarTech's competitiveness.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which gives a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Outdoor Solar LED Market dynamic, and structure by analyzing the market segments and projecting the Global Outdoor Solar LED Market size. Clear representation of competitive analysis of key players By Price Range, price, financial position, product portfolio, growth strategies, and regional presence in the Global Outdoor Solar LED Market make the report an investor’s guide.
Outdoor Solar LED Market Scope: Inquire before buying



Global Outdoor Solar LED Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 7.82 Bn.


Forecast Period 2024 to 2030 CAGR:
25.10%
Market Size in 2030:
US $ 37.50 Bn.


 Segments Covered:
by Wattage
Less than 39W
40W to 149W
Greater than 149W


by Application
Solar LED Street Lights
Solar Garden LED Lights
Solar LED Floodlights
Solar LED Area Lights
Solar LED Spot Lights


by End User
Residential
Commercial
Industrial



Outdoor Solar LED Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Outdoor Solar LED Market, Key Players
1. Green Shine New Energy
2. LEADSUN
3. Ok Solar
4. SBM-SolarTech
5. SEPCO Solar Electric Power Company
6. SOKOYO
7. Solar Street Lights USA
8. Sunna Design SA
9. Signify Holding
10. Eaton
11. Su-Kam Power System
12. Clear Blue Technologies
13. Jiawei

Frequently Asked Questions:
1. Which region has the largest share in the Global Outdoor Solar LED Market?
Ans: The Asia Pacific region held the highest share in 2023.

2. What is the growth rate of the Global Outdoor Solar LED Market?
Ans: The Global Market is expected to grow at a CAGR of 25.10% during the forecast period 2024-2030.

3. What is the scope of the Global Outdoor Solar LED Market report?
Ans: The Global Outdoor Solar LED Market report helps with the PESTEL, PORTER, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. What is the market size of the Global Outdoor Solar LED Market by 2030?
Ans: The market size of the Global Outdoor Solar LED Market is 37.50 Bn.

5. What is the study period of this market?
Ans: The Global Outdoor Solar LED Market is studied from 2023 to 2030.