Solar Lights Market to Reach USD 20.13 Billion by 2030, Growing at 10.9% CAGR

𝐓𝐡𝐞 𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐬 𝐭𝐨 𝐄𝐱𝐩𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥𝐥𝐲 𝐚𝐬 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐚𝐧𝐝 𝐄𝐧𝐞𝐫𝐠𝐲-𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐆𝐫𝐨𝐰𝐬

The global solar lights market is witnessing robust growth, driven by increasing awareness of environmental sustainability, energy efficiency, and the growing need for renewable energy solutions. According to the latest research by Maximize Market Research, the solar lights market is expected to grow at a CAGR of 10.9% from 2024 to 2030, reaching a total market size of USD 20.13 billion by 2030, up from USD 9.75 billion in 2023.

This growth is being fueled by the adoption of solar-powered lighting systems in both residential and commercial sectors. As governments, businesses, and consumers strive to reduce carbon footprints, solar lights are emerging as a practical and cost-effective solution for sustainable outdoor lighting, street lighting, and decorative purposes.

𝐒𝐞𝐜𝐮𝐫𝐞 𝐲𝐨𝐮𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞𝐥𝐲: https://www.maximizemarketresearch.com/request-sample/183919/

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡

The key drivers of the solar lights market include:

𝑰𝒏𝒄𝒓𝒆𝒂𝒔𝒆𝒅 𝒂𝒅𝒐𝒑𝒕𝒊𝒐𝒏 𝒐𝒇 𝒓𝒆𝒏𝒆𝒘𝒂𝒃𝒍𝒆 𝒆𝒏𝒆𝒓𝒈𝒚 and government incentives for solar energy systems.
𝑹𝒊𝒔𝒊𝒏𝒈 𝒆𝒏𝒗𝒊𝒓𝒐𝒏𝒎𝒆𝒏𝒕𝒂𝒍 𝒄𝒐𝒏𝒔𝒄𝒊𝒐𝒖𝒔𝒏𝒆𝒔𝒔 and demand for eco-friendly lighting solutions.
𝑻𝒆𝒄𝒉𝒏𝒐𝒍𝒐𝒈𝒊𝒄𝒂𝒍 𝒂𝒅𝒗𝒂𝒏𝒄𝒆𝒎𝒆𝒏𝒕𝒔, including the development of efficient photovoltaic cells and energy storage systems.
𝑪𝒐𝒔𝒕 𝒓𝒆𝒅𝒖𝒄𝒕𝒊𝒐𝒏 in solar technology, making solar lights more affordable and accessible.
The market is expected to witness strong growth across key regions, especially in emerging economies where there is a greater need for sustainable infrastructure and energy solutions.

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam, with its rapid urbanization and increasing demand for renewable energy solutions, presents significant opportunities for the solar lights market. The government is strongly pushing for the adoption of solar-powered systems as part of its commitment to sustainable energy and reducing reliance on conventional electricity sources.

𝑹𝒆𝒄𝒆𝒏𝒕 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕: In 2024, 𝐕𝐢𝐧𝐚𝐬𝐨𝐥𝐚𝐫 announced a partnership with 𝐒𝐨𝐥𝐚𝐫𝐓𝐞𝐜 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬, a leading solar energy solutions provider, to enhance the availability of solar-powered lighting solutions across rural and urban areas in Vietnam. This partnership aims to address the electricity access gap in remote regions while promoting environmental sustainability.

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

Thailand is embracing solar energy in various sectors, including the lighting industry, due to the country's abundant sunlight and government incentives for clean energy technologies. Solar lights are becoming increasingly popular in outdoor applications like street lighting, garden lights, and public spaces.

𝑴𝒆𝒓𝒈𝒆𝒓𝒔 𝒂𝒏𝒅 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏𝒔: In 2023, 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐏𝐨𝐰𝐞𝐫 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝 acquired 𝐒𝐨𝐥𝐚𝐫𝐚 𝐓𝐞𝐜𝐡, a local solar light manufacturer, to strengthen its product portfolio and expand its market share in Southeast Asia. This acquisition is expected to drive the adoption of solar lights in commercial and public sector projects throughout Thailand.

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

In Japan, the market for solar lights is witnessing steady growth, particularly in urban centers and public spaces. The Japanese government is investing heavily in clean energy and energy-efficient solutions, and solar lights are seen as a key component of this broader initiative.

𝑲𝒆𝒚 𝑹𝒆𝒄𝒆𝒏𝒕 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕𝒔: In 2024, 𝐏𝐚𝐧𝐚𝐬𝐨𝐧𝐢𝐜 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, a major player in the solar energy market, launched an innovative range of 𝐬𝐨𝐥𝐚𝐫-𝐩𝐨𝐰𝐞𝐫𝐞𝐝 𝐨𝐮𝐭𝐝𝐨𝐨𝐫 𝐥𝐢𝐠𝐡𝐭𝐬 equipped with smart technologies that allow users to control the lighting remotely through a smartphone app. This innovation is poised to enhance the market's appeal in smart city developments and eco-conscious residential areas.

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

South Korea is focusing on clean energy to reduce greenhouse gas emissions, and solar lights are becoming a preferred choice for street lighting and public spaces. The market is seeing consolidation as major players expand their portfolios and establish strategic partnerships to cater to growing demand.

𝑴𝒆𝒓𝒈𝒆𝒓𝒔 𝒂𝒏𝒅 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏𝒔: In 2023, 𝐇𝐚𝐧𝐰𝐚 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 completed the acquisition of 𝐊𝐨𝐫𝐞𝐚𝐧 𝐒𝐨𝐥𝐚𝐫 𝐓𝐞𝐜𝐡, a local manufacturer of solar-powered lighting systems. This move is aimed at expanding 𝐇𝐚𝐧𝐰𝐚 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬' footprint in the solar lights market and reinforcing its position in the competitive South Korean market.

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore is a global leader in sustainable urban solutions, and solar lights are integral to the city-state's efforts to create energy-efficient and eco-friendly infrastructure. Solar lighting is being deployed extensively in public parks, roads, and recreational areas as part of the country's smart city initiatives.

𝑹𝒆𝒄𝒆𝒏𝒕 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕: In 2023, 𝐏𝐔𝐁 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞, the national water agency, integrated solar-powered lighting into its 𝐒𝐦𝐚𝐫𝐭 𝐍𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞, which is designed to enhance the energy efficiency of public spaces across the city. This move is part of Singapore's broader goal to reduce its carbon footprint and become a model of sustainable urban living.

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬

The U.S. solar lights market is experiencing rapid growth due to increased investment in renewable energy, energy-saving initiatives, and government policies promoting sustainable lighting solutions. States like California and Florida are leading the adoption of solar-powered lighting systems, particularly for street lighting and residential applications.

𝑴𝒆𝒓𝒈𝒆𝒓𝒔 𝒂𝒏𝒅 𝑨𝒄𝒒𝒖𝒊𝒔𝒊𝒕𝒊𝒐𝒏𝒔: In 2024, 𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐈𝐧𝐜., a leading provider of solar-powered outdoor lighting, merged with 𝐄𝐜𝐨𝐄𝐧𝐞𝐫𝐠𝐲 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬 to expand its product offerings and strengthen its position in the U.S. solar market. The merger is expected to enhance innovation and drive growth in the solar lighting segment.

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

In Europe, solar lights are gaining popularity as part of the region's broader sustainability goals. Countries like Germany, France, and the UK are investing heavily in renewable energy infrastructure, and solar lighting is becoming an essential component of urban and rural development plans.

𝑲𝒆𝒚 𝑹𝒆𝒄𝒆𝒏𝒕 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕: In 2023, 𝐒𝐜𝐡𝐫𝐞𝐝𝐞𝐫 𝐆𝐫𝐨𝐮𝐩, a leading global outdoor lighting solutions provider, announced the launch of its Sustainability Initiative in Europe, which includes the installation of solar-powered street lighting in major cities like Paris and Berlin. This project is expected to reduce energy consumption and lower carbon emissions in these cities.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐜𝐡𝐞𝐜𝐤: https://www.maximizemarketresearch.com/request-sample/183919/

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

𝒃𝒚 𝑻𝒚𝒑𝒆

Outdoor Solar Lights
Solar Street Lights
Solar Garden Lights
Solar Parking Lot Lights
Solar Traffic Lights
Solar Sign Lights
Others
Indoor Solar Lights
Solar Shed Lights
Solar Desk Lights
Others

𝒃𝒚 𝑷𝒂𝒏𝒆𝒍 𝑻𝒚𝒑𝒆

Polycrystalline
Monocrystalline
Amorphous

𝒃𝒚 𝑮𝒓𝒊𝒅 𝑻𝒚𝒑𝒆

Off-grid
On-grid
Hybrid

Depending on the grid type, the Off-grid segment is predicted to develop significantly over the forecast period. Off-grid systems capture, store, and use solar energy as needed. These qualities of the off-grid technology are likely to drive up demand in the residential sector. It has emerged as an easy option in rural regions, and homeowners can install it themselves, lowering system costs significantly and predicted to fuel the Solar Lights market. Off-grid solar systems are most commonly used in the banking, financial services, and insurance industries. Many developing countries rely on off-grid solar systems, and their governments promote the use of off-grid Solar Lights Devices. The aforementioned variables are foreseen.

𝒃𝒚 𝑨𝒑𝒑𝒍𝒊𝒄𝒂𝒕𝒊𝒐𝒏

Highways and Roadways
Residential
Commercial and Industrial
Others

Based on application, the commercial segment is predicted to have the biggest market share during the forecast period (2024-2030). Solar lights are used in the commercial sector to provide indoor and outdoor lighting for corridors, basements, and paths. This is supposed to lower maintenance costs and alleviate concerns about electrical outages. These reasons are likely to drive the commercial segment's expansion, allowing it to dominate the market. Industrial, residential, and highways are the Solar Lights Market's second, third, and fourth largest categories, respectively.

𝒃𝒚 𝑺𝒂𝒍𝒆𝒔 𝑪𝒉𝒂𝒏𝒏𝒆𝒍𝒔

Indirect Sales
Direct Sales

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐭𝐫𝐞𝐧𝐝𝐬? 𝐃𝐨𝐧'𝐭 𝐦𝐢𝐬𝐬 𝐭𝐡𝐞 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐬𝐮𝐦𝐦𝐚𝐫𝐲 𝐟𝐨𝐫 𝐯𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧: https://www.maximizemarketresearch.com/request-sample/183919/

𝐒𝐨𝐥𝐚𝐫 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

1. Signify Holding
2. Eaton Corporation
3. Sunna Design SA
4. Greenshine New Energy
5. Solar Street Lights USA
6. Engcotec GmbH
7. Koninklijke Philips N.V.
8. Fonroche Lighting America, Inc.
9. Jinhua Sunmaster Lighting Co. Ltd
10. SEPCO
11. SunMaster Solar Lighting
12. Halonix Technologies Pvt. Ltd.
13. Nokero
14. SolarOne Solutions, Inc.
15. Clear Blue Technologies Inc.
16. SOKOYO Solar Lighting Co., Ltd.
17. Tapetum India Solar

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