Outdoor Solar LED Market to Expand at a CAGR of 30.6 % from 2021 to 2030

The worldwide Outdoor Solar LED market measurement is anticipated to achieve USD 34.75  billion by 2030 and is anticipated to increase at a CAGR of 30.6% from 2021 to 2030.

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Growth Factors

The use of solar PV cells in urban spaces for outdoor lighting applications has substantially increased over the last couple of years. The increased demand for these products can be attributed to their benefits on the fronts of energy efficiency, maintenance cost, and power cost over traditional lighting. As of 2020, the Europe market, closely following the Asia Pacific market in terms of market size, has witnessed a slight uptick in market demand with favorable regulations and incentive schemes supporting large-scale adoption.

Such government rebates and initiatives aimed at creating awareness about green, energy-saving products are anticipated to drive the adoption of solar LED products in commercial applications. For instance, Pacific Gas and Electric Company (PG&E), a U.S.-based combined electric energy company, provides zero percent interest loans to non-residential customers for energy-saving projects, including implementing solar LED lighting systems. Similarly, the U.K. government implemented the Enhanced Capital Allowance (ECA) initiative to promote the adoption of energy-efficient lighting solutions among businesses in exchange for tax benefits. 

Report Highlights

In terms of application, the solar LED street lights segment dominated the market in 2020, capturing a revenue share exceeding 51.0%. The trend is expected to continue over the forecast period.

The demand for solar LEDs for gardening applications is estimated to witness a CAGR exceeding 30.0% over the forecast period. The availability of a wide range of solar garden LED products at an affordable price-point has favored the growth of the segment so far, a trend that is expected to continue in the forthcoming years. In addition to cost and product range, the absence of complex wiring structures offers much-needed installation flexibility to homeowners compared to other sources of lighting. Furthermore, a growing preference for DIY gardening and landscaping is contributing to the segment growth.

The 40W to 149W segment dominated the market in 2020, accounting for more than 49.0% share of the overall market. Popular products having power between 40W to 149W are floodlights, streetlights, and path lights that find applications across tunnels, highways, streets, and path lights. Continued innovations have led to the development of products offering higher lighting intensity with limited power consumption, which is expected to drive the growth of the segment over the forecast period. Additionally, the rising demand to upgrade traditional street lighting systems with power-efficient lighting solutions is driving the growth of the segment.

The less than 39W segment is expected to register the highest CAGR over the forecast period. The majority of the solar LEDs with a power of less than 39W find use in wall lighting and garden lighting applications. The increasing popularity of decorative lighting among residential users to illuminate outdoor environments is anticipated to drive the segment growth. Furthermore, the availability of a diverse range of power-efficient and DIY solar LEDs suitable for wall and garden lighting applications is driving the segment growth.

The commercial end-use segment dominated the market in 2020, accounting for more than 60.0% share of the overall revenue. Increasing investments in solar street lighting infrastructure development initiatives are expected to drive the demand for solar LEDs in commercial space. Furthermore, to promote and encourage the adoption of solar LED lights, several utilities, government, and local bodies offer tax rebates and incentive schemes to commercial users. Thus, to facilitate the adoption of renewable energy systems and energy efficiency, the demand for solar LEDs is expected to grow in the commercial space over the forecast period.

The residential segment is anticipated to expand at a steady CAGR over the forecast period. The rise in spending on residential outdoor settings for organizing functions, parties, and a variety of events can be attributed to the growth of the segment. Moreover, the growing popularity of decorative exterior lightings for yards and garden pavements is expected to promote the adoption of outdoor solar LEDs in residential settings over the forecast period. Additionally, the increased adoption of solar PV modules that offer energy savings is also expected to work in favor of the segment over the forecast period.

Asia Pacific dominated the market accounting for more than 50.0% revenue share in 2020. China led the regional market growth and the trend is expected to continue over the forecast period. The increasing number of smart cities, infrastructure development, and city expansion projects in several countries in the region can be attributed to the growth of the regional market. The region has witnessed a surge in government initiatives aimed at deploying street lighting solutions in rural as well as the urban market in China, India, and Southeast Asian countries, which is expected to contribute to market growth.

Report Coverage Details
Market Size US$ 34.75 billion by 2030
Growth Rate CAGR of 30.6% From 2021 to 2030
Base Year 2020
Forecast Period 2021 to 2030
Segments Covered Application , Wattage , End-use, Region
Companies Mentioned Greenshine New Energy, Jiawei, LEADSUN, OkSolar, SBM-SolarTech, SEPCO Solar Electric Power Company, Signify Holding, SOKOYO, Solar Street Lights USA, Sunna Design SA

Key Players

  • Greenshine New Energy
  • Jiawei
  • LEADSUN
  • OkSolar
  • SBM-SolarTech
  • SEPCO Solar Electric Power Company
  • Signify Holding
  • SOKOYO
  • Solar Street Lights USA
  • Sunna Design SA

Market Segmentation

  • Application Outlook
    • Solar LED Street Lights
    • Solar Garden LED Lights
    • Solar LED Floodlights
    • Solar LED Area Lights
    • Solar LED Spot Lights
  • Wattage Outlook
    • Less than 39W
    • 40W to 149W
    • More than 150W
  • End-use Outlook
    • Residential
    • Commercial
    • Industrial
  • Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Italy
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Southeast Asia
      • South Asia
    • Latin America
      • Brazil
      • Mexico
    • MEA

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Outdoor Solar LED Market, By Application

7.1.  Outdoor Solar LED Market, by Application, 2021-2030

7.1.1.    Solar LED Street Lights

7.1.1.1.        Market Revenue and Forecast (2016-2030)

7.1.2.    Solar Garden LED Lights

7.1.2.1.        Market Revenue and Forecast (2016-2030)

7.1.3.    Solar LED Floodlights

7.1.3.1.        Market Revenue and Forecast (2016-2030)

7.1.4.    Solar LED Area Lights

7.1.4.1.        Market Revenue and Forecast (2016-2030)

7.1.5.    Solar LED Spot Lights

7.1.5.1.        Market Revenue and Forecast (2016-2030)

Chapter 8.  Global Outdoor Solar LED Market, By Wattage

8.1.  Outdoor Solar LED Market, by Wattage, 2021-2030

8.1.1.    Less than 39W

8.1.1.1.        Market Revenue and Forecast (2016-2030)

8.1.2.    40W to 149W

8.1.2.1.        Market Revenue and Forecast (2016-2030)

8.1.3.    More than 150W

8.1.3.1.        Market Revenue and Forecast (2016-2030)

Chapter 9.  Global Outdoor Solar LED Market, By End User

9.1.  Outdoor Solar LED Market, by End User, 2021-2030

9.1.1.    Residential

9.1.1.1.        Market Revenue and Forecast (2016-2030)

9.1.2.    Commercial

9.1.2.1.        Market Revenue and Forecast (2016-2030)

9.1.3.    Industrial

9.1.3.1.        Market Revenue and Forecast (2016-2030)

Chapter 10.      Global Outdoor Solar LED Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Application (2016-2030)

10.1.2.  Market Revenue and Forecast, by Wattage (2016-2030)

10.1.3.  Market Revenue and Forecast, by End User (2016-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Application (2016-2030)

10.1.4.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.1.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Application (2016-2030)

10.1.5.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.1.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Application (2016-2030)

10.2.2.  Market Revenue and Forecast, by Wattage (2016-2030)

10.2.3.  Market Revenue and Forecast, by End User (2016-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Application (2016-2030)

10.2.4.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.2.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Application (2016-2030)

10.2.5.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.2.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Application (2016-2030)

10.2.6.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.2.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Application (2016-2030)

10.2.7.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.2.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Application (2016-2030)

10.3.2.  Market Revenue and Forecast, by Wattage (2016-2030)

10.3.3.  Market Revenue and Forecast, by End User (2016-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Application (2016-2030)

10.3.4.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.3.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Application (2016-2030)

10.3.5.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.3.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Application (2016-2030)

10.3.6.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.3.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Application (2016-2030)

10.3.7.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.3.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Application (2016-2030)

10.4.2.  Market Revenue and Forecast, by Wattage (2016-2030)

10.4.3.  Market Revenue and Forecast, by End User (2016-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Application (2016-2030)

10.4.4.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.4.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Application (2016-2030)

10.4.5.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.4.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Application (2016-2030)

10.4.6.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.4.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Application (2016-2030)

10.4.7.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.4.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Application (2016-2030)

10.5.2.  Market Revenue and Forecast, by Wattage (2016-2030)

10.5.3.  Market Revenue and Forecast, by End User (2016-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Application (2016-2030)

10.5.4.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.5.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Application (2016-2030)

10.5.5.2.      Market Revenue and Forecast, by Wattage (2016-2030)

10.5.5.3.      Market Revenue and Forecast, by End User (2016-2030)

Chapter 11.  Company Profiles

11.1.              Greenshine New Energy

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              Jiawei

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              LEADSUN

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              OkSolar

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              SBM-SolarTech

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              SEPCO Solar Electric Power Company

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Signify Holding

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.              SOKOYO

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.              Solar Street Lights USA

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.           Sunna Design SA

11.10.1.               Company Overview

11.10.2.               Product Offerings

11.10.3.               Financial Performance

11.10.4.               Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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