NEWS
NEWS
The market overview and industry analysis about global outdoor solar led lights
10-12-2022
The growing environmental problems and rising pollution increase the market requirement for renewable energy sources. Solar energy is one such source of energy that is available much for wide applications to light up the space.
It is estimated that the global outdoor solar LED market will grow from USD 7.8 billion in 2021 to USD 58.5 billion by 2030, at a CAGR of 25.1%.
The increasing awareness of energy saving and environment-friendly products in the commercial, industrial and residential sectors increases the need for outdoor solar LED lights. This also increases the adoption rate of solar lights among consumers. Many governments are also using solar LED lights to take the place of old and conventional streetlights because they require very little maintenance.
The wattage segment is divided into less than 39W, 40W to 149W, and more than 150W. In 2021, the 40W to 149W segment had the argest market share of 43% and market revenue of 3.3 billion.Most of the outdoor solar LED lights being used at present, such as floodlights, street lights, and path lights across streets, highways, tunnels, and roads, power between 40W to 149W, which drives the segments growth.
In 2021, the solar LED street lights segment accounted for the largest share of the market, with 26% and a market revenue of 3.09 billion.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Asia Pacific occupied the largest share on the global outdoor solar LED market, with a market share of around 41% and 3.19 billion of the market revenue in 2021. The increasing investment on outdoor solar projects across several countries in the Asia Pacific region, such as China and India, is expected to result in market growth.
The key players are now adopting strategies to improve their market position in the global outdoor solar LED market, for example,making new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships.
The following listed companies are some key market players around the world
Greenshine New Energy
Signify Holding
SBM-SolarTech
Greenshine New Energy
LEADSUN
SEPCO Solar Electric Power Company
OkSolar
SOKOYO
Sunna Design SA
Solar Street Lights
It is estimated that the global outdoor solar LED market will grow from USD 7.8 billion in 2021 to USD 58.5 billion by 2030, at a CAGR of 25.1%.
The increasing awareness of energy saving and environment-friendly products in the commercial, industrial and residential sectors increases the need for outdoor solar LED lights. This also increases the adoption rate of solar lights among consumers. Many governments are also using solar LED lights to take the place of old and conventional streetlights because they require very little maintenance.
The wattage segment is divided into less than 39W, 40W to 149W, and more than 150W. In 2021, the 40W to 149W segment had the argest market share of 43% and market revenue of 3.3 billion.Most of the outdoor solar LED lights being used at present, such as floodlights, street lights, and path lights across streets, highways, tunnels, and roads, power between 40W to 149W, which drives the segments growth.
In 2021, the solar LED street lights segment accounted for the largest share of the market, with 26% and a market revenue of 3.09 billion.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Asia Pacific occupied the largest share on the global outdoor solar LED market, with a market share of around 41% and 3.19 billion of the market revenue in 2021. The increasing investment on outdoor solar projects across several countries in the Asia Pacific region, such as China and India, is expected to result in market growth.
The key players are now adopting strategies to improve their market position in the global outdoor solar LED market, for example,making new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships.
The following listed companies are some key market players around the world
Greenshine New Energy
Signify Holding
SBM-SolarTech
Greenshine New Energy
LEADSUN
SEPCO Solar Electric Power Company
OkSolar
SOKOYO
Sunna Design SA
Solar Street Lights
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