PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1561770
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1561770
Global Solar Lights Market Size study, By Type, By Panel Type, By Solar Power Systems, By Application, and Regional Forecasts 2022-2032
The Global Solar Lights Market is valued approximately at USD 9.14 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.20% over the forecast period 2024-2032. Solar lights are an eco-friendly and sustainable solution for outdoor and indoor lighting needs. These lights consist of LED lamps, photovoltaic solar panels, poles, light sensors, and rechargeable batteries that together harness solar energy during the day to power lights at night. Solar lights provide a cost-effective, low-maintenance, and reliable lighting solution for residential, commercial, and public infrastructure applications. The market is poised to expand as energy independence becomes a critical global priority, supported by easy installation, sustainability, and technological advancements in solar lighting solutions.
The solar lights market is driven by several factors, including the rising awareness of renewable energy sources, increasing governmental support through tax cuts and subsidies, and the declining costs of solar light products. Solar lights have gained traction in low- and middle-income countries due to their affordability and the increasing need for energy independence. The widespread use of off-grid solar lights, particularly in regions with limited access to electricity, has further fueled market growth. Additionally, the residential sector's focus on reducing electricity costs and diversifying energy consumption has significantly contributed to the demand for solar lighting solutions. However, the market faces challenges such as the impact of extreme weather conditions on solar panels, including high temperatures and ultraviolet rays, which can reduce the efficiency and lifespan of solar lights. Despite these challenges, the market continues to grow, with opportunities arising from technological advancements in solar batteries and the increasing adoption of off-grid solar lighting systems.
The key regions considered in the study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia-Pacific dominated the global market in 2023, driven by the rapid production and adoption of solar lighting products in countries such as China and Japan. The region is expected to maintain its dominance throughout the forecast period, supported by government initiatives and the expansion of manufacturing capacities. Meanwhile, North America and Europe are also key regions, with significant investments in solar infrastructure and growing adoption of solar street lights for highways and public spaces.
Major market players included in this report are:
- Fonroche Lighting America, Inc.
- Kon Lighting
- Solar Street Lights USA
- Greenshine New Energy
- Jinhua Sunmaster Lighting Co. Ltd
- SEPCO
- Wipro Lighting
- Koninklijke Philips N.V.
- Sunna Design SA
- ENGOPLANET ENERGY SOLUTIONS LLC
- Engcotec GmbH
- SunMaster Solar Lighting Co., Ltd.
- Carmanah Technologies Corp.
- Havells India Ltd.
- Sol Inc.
The detailed segments and sub-segment of the market are explained below:
By Type:
- Outdoor Solar Lights
- Indoor Solar Lights
By Panel Type:
- Polycrystalline
- Monocrystalline
- Amorphous
By Solar Power Systems:
- Off-Grid
- On-Grid
- Hybrid
By Application:
- Highways and Roadways
- Residential
- Commercial and Industrial
- Others
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 competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Solar Lights Market Executive Summary
- 1.1. Global Solar Lights Market Size & Forecast (2022- 2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Panel Type
- 1.3.3. By Solar Power Systems
- 1.3.4. By Application
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Solar Lights 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 Solar Lights Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Rising Demand for Renewable Energy
- 3.1.2. Government Initiatives & Subsidies
- 3.1.3. Declining Costs of Solar Products
- 3.2. Market Challenges
- 3.2.1. Environmental Impact on Solar Panel Efficiency
- 3.2.2. High Initial Investment Costs
- 3.3. Market Opportunities
- 3.3.1. Technological Advancements in Solar Batteries
- 3.3.2. Expanding Applications in Developing Economies
Chapter 4. Global Solar Lights 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 opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Solar Lights Market Size & Forecasts by Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Solar Lights Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Outdoor Solar Lights
- 5.2.2. Indoor Solar Lights
Chapter 6. Global Solar Lights Market Size & Forecasts by Panel Type 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Solar Lights Market: Panel Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Polycrystalline
- 6.2.2. Monocrystalline
- 6.2.3. Amorphous
Chapter 7. Global Solar Lights Market Size & Forecasts by Solar Power Systems 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Solar Lights Market: Solar Power Systems Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Off-Grid
- 7.2.2. On-Grid
- 7.2.3. Hybrid
Chapter 8. Global Solar Lights Market Size & Forecasts by Application 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Solar Lights Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Highways and Roadways
- 8.2.2. Residential
- 8.2.3. Commercial and Industrial
- 8.2.4. Others
Chapter 9. Global Solar Lights Market Size & Forecasts by Region 2022-2032
- 9.1. North America Solar Lights Market
- 9.1.1. U.S. Solar Lights Market
- 9.1.2. Canada Solar Lights Market
- 9.1.3. Mexico Solar Lights Market
- 9.2. Europe Solar Lights Market
- 9.2.1. UK Solar Lights Market
- 9.2.2. Germany Solar Lights Market
- 9.2.3. France Solar Lights Market
- 9.2.4. Spain Solar Lights Market
- 9.2.5. Italy Solar Lights Market
- 9.2.6. Rest of Europe Solar Lights Market
- 9.3. Asia-Pacific Solar Lights Market
- 9.3.1. China Solar Lights Market
- 9.3.2. India Solar Lights Market
- 9.3.3. Japan Solar Lights Market
- 9.3.4. Australia Solar Lights Market
- 9.3.5. South Korea Solar Lights Market
- 9.3.6. Rest of Asia Pacific Solar Lights Market
- 9.4. Latin America Solar Lights Market
- 9.4.1. Brazil Solar Lights Market
- 9.4.2. Mexico Solar Lights Market
- 9.4.3. Rest of Latin America Solar Lights Market
- 9.5. Middle East & Africa Solar Lights Market
- 9.5.1. Saudi Arabia Solar Lights Market
- 9.5.2. South Africa Solar Lights Market
- 9.5.3. Rest of Middle East & Africa Solar Lights Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Fonroche Lighting America, Inc.
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Market Strategies
- 10.3.2. Kon Lighting
- 10.3.3. Solar Street Lights USA
- 10.3.4. Greenshine New Energy
- 10.3.5. Jinhua Sunmaster Lighting Co. Ltd
- 10.3.6. SEPCO
- 10.3.7. Wipro Lighting
- 10.3.8. Koninklijke Philips N.V.
- 10.3.9. Sunna Design SA
- 10.3.10. ENGOPLANET ENERGY SOLUTIONS LLC
- 10.3.11. Engcotec GmbH
- 10.3.12. SunMaster Solar Lighting Co., Ltd.
- 10.3.13. Carmanah Technologies Corp.
- 10.3.14. Havells India Ltd.
- 10.3.15. Sol Inc.
- 10.3.1. Fonroche Lighting America, Inc.
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
