Outdoor Solar LED lights Market

Outdoor Solar LED lights Market witnessed USD 4,366 million in 2020, growing at a robust CAGR of 24.9% during forecast period.

Outdoor Solar LED lights Market Overview

The solar outdoor LED lights can be defined as that type of light that is powered by solar (photovoltaic) panels mounted by a lighting structure. The solar (photovoltaic) panels charge a rechargeable battery, which provides sufficient power to outdoor LED lights. It consists of four main components: rechargeable battery, solar panel, lighting fixture, and controllers. Solar outdoor LED lights are gaining more popularity as more and more users seek environment-friendly and cost-effective ways to illuminate their outdoor spaces.

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Major Outdoor Solar LED lights Market Drivers

Increasing urbanization and rising vehicle traffic have led to infrastructural development globally. Road and smart city projects are being implemented across the nation, such as Germany, China, U.K, U.S., and India. Hence, the demand for cost-effective, reliable, and eco-friendly outdoor lighting in the commercial and residential sectors is likely to boost the outdoor solar LED lighting size. Aging of lights is one of the key factors as several investment initiatives is aligned with aging street lighting and renewable lighting projects. For instance, in 2019, Birmingham City Council offered a contract to McCann Ltd. to upgrade Birmingham’s 3,000 existing lighting units with updated LED technology and associated street lighting infrastructure.

Change in trend witnessed the adoption of renewable technologies to reduce greenhouse gas emission is also driving the growth of the global outdoor solar LED market. Some policymakers have introduced several rules and regulations to achieve its renewable targets and reduction in GHG emissions. For instance, European Union regulators aim to minimize GHG emissions by 20% by 2020 from the 1990 level, thus enhancing the utilization of renewable resources.

Restraint in the Outdoor Solar LED lights Market

However, the increasing growth of the solar outdoor LED lights market is being hampered by the heavy installation cost of solar LED light. Dust, snow, and moisture can gather on horizontal solar panels which can hamper the energy production and it will lead to non-functioning of product. These major factors have restricted the growth of outdoor solar LED lights market.

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Wattage – Segment Analysis

Based on the Wattage, the 40W to 149W segment is expected to grow at a higher CAGR in the global Outdoor Solar LED lights market during the forecast period. Products with power between 40W and 149W such as floodlights, luminaires, streetlights, path lights which being are used in roads, tunnels, and road lights are contributing to market growth. Furthermore, growing innovation has led to the development of products with higher lighting intensity with minimum power consumption, which drives the growth of this segment. Additionally, the growing need for the up gradation of conventional road lights with powerful illumination has led to drive the growth of this segment.

End-User – Segment Analysis

Based on the End-User, the commercial end-user segment is expected to grow at a higher CAGR in the global Outdoor Solar LED lights market during the forecast period. Increasing expenditure in solar street lighting and infrastructural development initiative increases the demand for solar LEDs in the commercial market. Moreover, to encourage and promote the use of LED lights, several governments provide tax rebates and incentive programs for commercial users. Thus, the increasing adoption of renewable energy efficiency and energy system is leading development growth of this segment.

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Regional – Segment Analysis:

Based on the region, the Asia Pacific region is expected to grow at a higher CAGR in the global Outdoor Solar LED lights market during the forecast period. Due to the increasing number of smart cities, city expansion and development projects in the region can be attributed to the development growth of this region. For instance, according to World economic forum, in 2020, more than 500 cities will be built across China. According to IBEF, the total allocated for the smart city mission stood at US$ 27.60 billion as of March 2021, out of which a total investment of 5,614 project worth US$ 23.29 billion have been tendered. The region has witnessed an increase in government initiatives aimed at changing street lighting solutions in urban as well as the rural market in India, China and Southeast Asian countries. Such factors have augmented to contribute to market growth.

Top Market Players

Various notable players operating in the market, include, Greenshine New Energy, Jiawei., LEADSUN, OkSolar, SBM., SEPCO Solar Electric Power Company, Signify Holding., JIANGSU SOKOYO SOLAR LIGHTING CO., LTD., Best Solar Street Lights USA, Sunna Design SA, among others. 

Key Developments:

• • In March 2020, Sunna Design SA, a solar lighting company, come together SOL Inc., a North American solar lighting company, for the purpose of commercialising solar LED lighting solutions in underdeveloped nations.
  • In May 2019, SOKOYO attended the Philippine Electric Power and Solar Photovoltaic Exhibition in which company presented its solar lighting portfolio as well as its plans to export the solar lighting resolutions to the country at the event.

Segments covered in the Report:

The global Outdoor Solar LED lights market has been segmented on the basis of Wattage, End-User and regions. Based on Wattage, the market is segmented into Less than 39W, 40W to 149W and More than 150W. Based on End-User, the market is segmented into Residential and Industrial. 

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Market Segmentation

Global Outdoor Solar LED lights Market by Wattage

• • Less than 39W
  • 40W to 149W
  • More than 150W

Global Outdoor Solar LED lights Market by End-User

• • Residential
  • Commercial
  • Industrial

Global Outdoor Solar LED lights Market by Region

• • North America Outdoor Solar LED lights Market (Option 1: As a part of the free 25% customization)

    • North America Outdoor Solar LED lights Market by Wattage
    • North America Outdoor Solar LED lights Market by End-User
    • US Outdoor Solar LED lights Market All-Up
    • Canada Outdoor Solar LED lights Market All-Up

  • Europe Outdoor Solar LED lights Market (Option 2: As a part of the free 25% customization)

    • Europe Outdoor Solar LED lights Market by Wattage
    • Europe Outdoor Solar LED lights Market by End-User
    • UK Outdoor Solar LED lights Market All-Up
    • Germany Outdoor Solar LED lights Market All-Up
    • France Outdoor Solar LED lights Market All-Up
    • Spain Outdoor Solar LED lights Market All-Up
    • Rest of Europe Outdoor Solar LED lights Market All-Up

  • Asia-Pacific Outdoor Solar LED lights Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Outdoor Solar LED lights Market by Wattage
    • Asia-Pacific Outdoor Solar LED lights Market by End-User
    • China Outdoor Solar LED lights Market All-Up
    • India Outdoor Solar LED lights Market All-Up
    • Japan Outdoor Solar LED lights Market All-Up
    • Rest of APAC Outdoor Solar LED lights Market All-Up

  • RoW Outdoor Solar LED lights Market (Option 4: As a part of the free 25% customization)

    • RoW Outdoor Solar LED lights Market by Wattage
    • RoW Outdoor Solar LED lights Market by End-User
    • Brazil Outdoor Solar LED lights Market All-Up
    • South Africa Outdoor Solar LED lights Market All-Up
    • Saudi Arabia Outdoor Solar LED lights Market All-Up
    • UAE Outdoor Solar LED lights Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Outdoor Solar LED lights Market All-Up

Major Players Operating in the Outdoor Solar LED lights (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Greenshine New Energy
  • Jiawei
  • LEADSUN
  • OkSolar
  • SBM
  • SEPCO Solar Electric Power Company
  • Signify Holding.
  • JIANGSU SOKOYO SOLAR LIGHTING CO., LTD.
  • Best Solar Street Lights USA
  • Sunna Design SA