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Solar Outdoor LED Lights Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 09:40 AM, 14th September, 2017 REP-ID-317 Category: ICT & Electronics

Solar Outdoor LED Lights Market Overview

Solar outdoor LED lights refer to the type of lights which are powered by photovoltaic panels. The photovoltaic panels charge a rechargeable battery, which provide sufficient power to outdoor LED lights. It is rapidly increasing its popularity, as more and more homeowners seek cost effective and environmental friendly ways to illuminate their outdoor living spaces and gardens. Solar LED lights are durable and reliable surviving extremes of temperature, weather and UV rays.

Market Size and Forecast

The global solar outdoor LED lights market is expected to grow at a robust pace over the forecast period i.e. 2017-2024. The growth of the outdoor LED lighting market is driven by the increasing demand for energy-efficient lighting systems across the globe and development of infrastructure such as smart cities that led to the implementation of solar outdoor LED lighting systems.

solar outdoor LED

Asia-Pacific holds the largest market share in terms of revenue in solar outdoor LED lighting globally. Led by China and India, the market in this region is expected to showcase significant growth owing to favorable government policies in order to utilize renewable power sources and rising environmental concerns.

North America solar outdoor LED lights market is expected to show a tremendous growth over the forecast period owing to early adoption of solar LED lighting across the region. It has been notified that top manufacturers such as Osram and GE have started to emphasize more on their solar outdoor LED lighting products. Europe stood at third position in this market. U.K and Germany are the leading revenue contributors in solar outdoor LED lights market in Europe. The Africa and Middle East countries furnish maximum potential for expansion in this market. Solar outdoor LED market in these regions is particularly driven by initiatives such as awareness campaigns, subsidies and many programs aimed to boost the adoption for solar LED outdoor lighting.

Market Segmentation

Our in-depth analysis segmented the solar outdoor LED lights market in the following segments:

By Application

  • Residential
  • Commercial
  • Others

By Power

  • Less than 50W
  • Between 50W and 150W
  • More than 150W

By Region

Global solar outdoor LED lights market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea &Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis

Growth Drivers and Challenges

The factors propelling the growth of solar outdoor LED lights market are the lighting systems based on Internet of Things (IoT), reduction in the prices of LEDs and penetration of LEDs as a light source in outdoor lighting applications such as architectural, highways & roadways and public places.

Rapid pace of urbanization coupled with government initiatives for the adoption of solar LED lighting as they are eco-friendly and cost-efficient are the major factors driving the growth of outdoor LED lights.

Increase in per capita income and rise in purchasing power of the consumers are anticipated to be the dynamic factors behind the rapid growth of solar LED lighting market. 

However, the growth of solar outdoor LED lights market may be hampered by the higher initial installing cost of solar LED light. Snow, dust and moisture can accumulate on horizontal panels, further which will lead to reduction of energy production and the product might not work properly.

Key players

The major key players for solar outdoor LED lights market are as follows

  • Philips
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Hubbell outdoor
  • Blooma aurora
  • Ligman
  • Okawa Screw manufacturing
  • Gamasonic
  • Carmanah
  • Cree lightning
  • Solas Ray
  • UM Green

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global solar outdoor LED lights market is segmented as follows:

  • By Application Market Size & Y-O-Y Growth Analysis
  • By Power Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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