The global outdoor solar LED market, valued at approximately USD 7.7 billion in 2023, is projected to expand at a robust compound annual growth rate (CAGR) of 27.50% over the forecast period from 2024 to 2032. As the world intensifies its focus on sustainable energy solutions, outdoor solar LED technology has emerged as a crucial component of the global transition toward renewable energy sources. By harnessing solar power to illuminate public and private spaces, these advanced lighting solutions significantly reduce dependency on conventional energy grids while offering long-term cost savings and environmental benefits. The growing emphasis on energy efficiency, coupled with technological advancements in photovoltaic cells and battery storage, continues to propel the demand for outdoor solar LED systems.
The surge in global urbanization and infrastructure development has accelerated the adoption of solar-powered lighting solutions across residential, commercial, and industrial sectors. Governments and municipal bodies worldwide are increasingly investing in solar street lighting projects to enhance energy security and reduce carbon footprints. Additionally, financial incentives and regulatory support for solar energy adoption further bolster market expansion. Key industry players are focusing on developing highly efficient and cost-effective LED lighting solutions integrated with smart sensors and IoT-enabled systems, fostering a more connected and energy-efficient urban environment.
Despite the promising growth trajectory, the market faces certain challenges, including high initial installation costs and the efficiency limitations of solar panels under adverse weather conditions. However, continuous research and development efforts are driving innovation in energy storage solutions and smart lighting technologies, mitigating these barriers and paving the way for wider adoption. The rising trend of off-grid solar lighting solutions in remote and rural areas also presents lucrative opportunities for market players, particularly in emerging economies where grid infrastructure remains inadequate.
The global outdoor solar LED market exhibits a strong regional presence, with North America and Europe leading in terms of market share, owing to stringent energy efficiency regulations and substantial government investments in sustainable urban development projects. Meanwhile, the Asia Pacific region is expected to witness the fastest growth rate, driven by rapid industrialization, urbanization, and increasing government initiatives to promote renewable energy adoption. Countries such as China and India are at the forefront of this expansion, with large-scale solar lighting deployments and significant advancements in solar panel manufacturing capabilities.
Major market players included in this report are:
- Philips Lighting Holding B.V.
- Cree, Inc.
- Solar Electric Power Company (SEPCO)
- OSRAM Licht AG
- Sunna Design
- Sol Inc.
- Fonroche Lighting
- Signify N.V.
- Bridgelux, Inc.
- Carmanah Technologies Corporation
- SolarOne Solutions, Inc.
- Gama Sonic USA, Inc.
- Greenshine New Energy
- Urban Solar Group
- LEADSUN Global
The detailed segments and sub-segment of the market are explained below:
By Application:
- Street Lights
- Flood Lights
- Pathway & Garden Lights
- Area Lights
- Others
By Wattage:
- Less than 39W
- 40W to 149W
- More than 150W
By End Use:
- Residential
- Commercial
- Industrial
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with country-level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of the competitive structure of the market.
- Demand-side and supply-side analysis of the market.
Table of Contents
Chapter 1. Global Outdoor Solar LED Market Executive Summary
- 1.1. Global Outdoor Solar LED Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. {By Application}
- 1.3.2. {By Wattage}
- 1.3.3. {By End Use}
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Outdoor Solar LED Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory Frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Outdoor Solar LED Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increasing demand for sustainable energy solutions
- 3.1.2. Technological advancements in photovoltaic cells and battery storage
- 3.1.3. Government incentives and regulatory support
- 3.2. Market Challenges
- 3.2.1. High initial installation costs
- 3.2.2. Efficiency limitations under adverse weather conditions
- 3.3. Market Opportunities
- 3.3.1. Off-grid solar lighting in remote and rural areas
- 3.3.2. Integration with smart sensors and IoT-enabled systems
- 3.3.3. Expansion in emerging economies
Chapter 4. Global Outdoor Solar LED Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top Investment Opportunities
- 4.4. Top Winning Strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Outdoor Solar LED Market Size & Forecasts by Application 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Outdoor Solar LED Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Street Lights
- 5.2.2. Flood Lights
- 5.2.3. Pathway & Garden Lights
- 5.2.4. Area Lights
- 5.2.5. Others
Chapter 6. Global Outdoor Solar LED Market Size & Forecasts by Wattage 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Outdoor Solar LED Market: Wattage Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Less than 39W
- 6.2.2. 40W to 149W
- 6.2.3. More than 150W
Chapter 7. Global Outdoor Solar LED Market Size & Forecasts by End Use 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Outdoor Solar LED Market: End Use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. Residential
- 7.2.2. Commercial
- 7.2.3. Industrial
Chapter 8. Global Outdoor Solar LED Market Size & Forecasts by Region 2022-2032
- 8.1. North America Outdoor Solar LED Market
- 8.1.1. U.S. Outdoor Solar LED Market
- 8.1.1.1. {Application} breakdown size & forecasts, 2022-2032
- 8.1.1.2. {Wattage} breakdown size & forecasts, 2022-2032
- 8.1.1.3. {End Use} breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Outdoor Solar LED Market
- 8.2. Europe Outdoor Solar LED Market
- 8.2.1. U.K. Outdoor Solar LED Market
- 8.2.2. Germany Outdoor Solar LED Market
- 8.2.3. France Outdoor Solar LED Market
- 8.2.4. Spain Outdoor Solar LED Market
- 8.2.5. Italy Outdoor Solar LED Market
- 8.2.6. Rest of Europe Outdoor Solar LED Market
- 8.3. Asia Pacific Outdoor Solar LED Market
- 8.3.1. China Outdoor Solar LED Market
- 8.3.2. India Outdoor Solar LED Market
- 8.3.3. Japan Outdoor Solar LED Market
- 8.3.4. Australia Outdoor Solar LED Market
- 8.3.5. South Korea Outdoor Solar LED Market
- 8.3.6. Rest of Asia Pacific Outdoor Solar LED Market
- 8.4. Latin America Outdoor Solar LED Market
- 8.4.1. Brazil Outdoor Solar LED Market
- 8.4.2. Mexico Outdoor Solar LED Market
- 8.4.3. Rest of Latin America Outdoor Solar LED Market
- 8.5. Middle East & Africa Outdoor Solar LED Market
- 8.5.1. Saudi Arabia Outdoor Solar LED Market
- 8.5.2. South Africa Outdoor Solar LED Market
- 8.5.3. Rest of Middle East & Africa Outdoor Solar LED Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Philips Lighting Holding B.V.
- 9.1.2. Cree, Inc.
- 9.1.3. Signify N.V.
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Philips Lighting Holding B.V.
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Cree, Inc.
- 9.3.3. Solar Electric Power Company (SEPCO)
- 9.3.4. OSRAM Licht AG
- 9.3.5. Sunna Design
- 9.3.6. Sol Inc.
- 9.3.7. Fonroche Lighting
- 9.3.8. Carmanah Technologies Corporation
- 9.3.9. SolarOne Solutions, Inc.
- 9.3.10. Gama Sonic USA, Inc.
- 9.3.11. Greenshine New Energy
- 9.3.12. Urban Solar Group
- 9.3.13. LEADSUN Global
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes