Outdoor Solar LED Market Reach $24.75 Billion by 2028 With CAGR of 24.6% | Top Key Player: Greenshine New Energy; Jiawei; LEADSUN; OkSolar; SBM-SolarTech | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, the growing popularity of LEDs for outdoor light settings, specifically in street light applications owing to improved quality and efficiency, is one of the key factors contributing to market growth. The increasing adoption of solar as a source of renewable energy for lighting purposes across countries is also likely to act as a catalyst to market growth.

The global outdoor solar LED market size is expected to reach USD 24.75 billion by 2028, registering a CAGR of 24.6% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The use of solar PV cells in urban spaces for outdoor lighting applications has substantially increased over the last couple of years. The increased demand for these products can be attributed to their benefits on the fronts of energy efficiency, maintenance cost, and power cost over traditional lighting. As of 2020, the Europe market, closely following the Asia Pacific market in terms of market size, has witnessed a slight uptick in market demand with favorable regulations and incentive schemes supporting large-scale adoption.

Such government rebates and initiatives aimed at creating awareness about green, energy-saving products are anticipated to drive the adoption of solar LED products in commercial applications. For instance, Pacific Gas and Electric Company (PG&E), a U.S.-based combined electric energy company, provides zero percent interest loans to non-residential customers for energy-saving projects, including implementing solar LED lighting systems. Similarly, the U.K. government implemented the Enhanced Capital Allowance (ECA) initiative to promote the adoption of energy-efficient lighting solutions among businesses in exchange for tax benefits.

Solar LEDs are also making their way in the DIY/decorative lights category. Several residential owners are spending on solar LEDs as a part of small-scale residential landscape projects and events. Furthermore, to promote the adoption of renewable and energy-efficient products such as solar lightings and LEDs, several utilities, and local governing bodies are offering rebates and discount schemes for residential owners. Thus, the increasing awareness about energy conservation and collaborative efforts taken by governments are likely to drive the adoption of solar LEDs in the residential sector.

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/outdoor-solar-led-market

Outdoor Solar LED Market Report Highlights

In terms of application, the solar garden LED lights segment is expected to register the highest CAGR over the forecast period. The increasing spending on garden landscape designing in the residential and commercial spaces, to make the gardens aesthetically pleasing, is expected to drive the adoption of solar garden LEDs over the forecast period
In terms of wattage, the 40W to 149W segment captured the largest revenue share in 2020. These products are gaining popularity due to their attributes such as higher lumen and brightness, which make them particularly suitable for landscaping and street lighting applications
The demand for outdoor solar LEDs in commercial spaces is estimated to record a CAGR of around 25% from 2021 to 2028. The often large scale of commercial projects calls for a large number of lighting products, which is expected to favor the segment growth
With an increase in infrastructure development projects in China, India, and Japan, the Asia Pacific market held a substantial market share exceeding 40.0% in 2020 Growing investments in renewable and energy-saving programs across several countries in the region are anticipated to favor the growth of the regional market over the forecast period

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/outdoor-solar-led-market/request/rs1

Outdoor Solar LED Market Segmentation

Grand View Research has segmented the global outdoor solar LED market based on application, wattage, end-use, and region:

Outdoor Solar LED Application Outlook (Revenue, USD Million, 2016 – 2028)

Solar LED Street Lights
Solar Garden LED Lights
Solar LED Floodlights
Solar LED Area Lights
Solar LED Spot Lights

Outdoor Solar LED Wattage Outlook (Revenue, USD Million, 2016 – 2028)

Less than 39W
40W to 149W
More than 150W

Outdoor Solar LED End-use Outlook (Revenue, USD Million, 2016 – 2028)

Residential
Commercial
Industrial

Outdoor Solar LED Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
U.K.
Germany
Italy
Asia Pacific
China
India
Japan
South Korea
Southeast Asia
South Asia
Latin America
Brazil
Mexico
MEA

List of Key Players of the Outdoor Solar LED Market

Solar Street Lights USA
OkSolar
SOLTECH
Jiangsu Beier Lighting Electrical Appliance Co., Ltd.
SEPCO Solar Electric Power Company
Jiawei

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/451369/ibb

 

About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/outdoor-solar-led-market