Solar LED Lighting Market Size & Insights
The Global Solar LED Lighting Market size was valued at around USD 1.3 billion in 2024 and is projected to reach USD 3.5 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.33% during the forecast period, i.e., 2025-30. This flourishing growth is significantly attributed to the rising inclination of individuals from traditional lighting to advanced solar lighting primarily due to the sturdy increase of CO2 emissions & greenhouse gases in the environment. As a result, numerous countries are focusing on shifting toward greener solutions & sustainable development. Several countries are actively looking for various methods to reduce carbon dioxide emissions by installing solar LED lights and moving toward Smart electricity solutions due to rapid urbanization.
What are the Key DROs in the Solar LED Lighting Market?
Rising Urbanization Instigating the Need for Sustainable Energy Sources – With the growing population, the introduction of new technologies, and infrastructural development, urbanization is spreading globally, consecutively raising demands for sustainable sources and utilization of energy and electricity. Therefore, the need for energy-efficient tools such as solar energy panels to fulfill the goals of smart cities in developing countries is driving the market growth. Besides, the minimal maintenance and lower operational costs compared to conventional lighting have increased the installation of solar lighting in numerous underdeveloped areas. Furthermore, lucrative features such as energy efficiency, low operating and maintenance costs, quick fault detection, and real-time control decisions via central control units or devices are further driving the market.
What are the Key Segments in the Solar LED Lighting Market?
The Solar LED Lighting is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Application
- Residential
- Commercial
- Industrial
By Product Type
- Stand-Alone
- On-Grid
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By Component Type
- Solar Panel
- Battery
- Pole
- Lamp
- Other Component
How does geographical analysis highlight in the Solar LED Lighting market?
By Region
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
Who are the Key Players in Solar LED Lighting Market?
- Bisol
- Greenshine New Energy
- Solar Lighting International
- Anuhi Longvolt Energy Co., Ltd.
- Solar Electric Power Company (SEPC)
- Solux
- Orion Solar
- Leadsun
- Bridgelux, Inc
- SOKOYO Solar Group
- Urja Global
- Solektra International and others.
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Solar LED Lighting Market News
- 2024: LEADSUN announced the launch of its groundbreaking VertHex Series Solar Street Light. This innovative product line is set to revolutionize the solar street lighting market, offering unparalleled performance, versatility, and sustainability
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