Government initiatives & policies promoting the use of solar energy & energy-efficient lighting paired with decreasing prices of LED lighting and solar panels drive the outdoor solar LED market growth— David Correa
WILMINGTON, DELAWARE , UNITED STATES, September 23, 2023 /
EINPresswire.com/ -- Allied Market Research published a report on the
Outdoor Solar LED Market by Product Type, Voltage, and End Use: Global Opportunity Analysis and Industry Forecast, 2023-2032.
The global outdoor solar led market was valued at $6.4 billion in 2022, and is projected to reach $44.4 billion by 2032, growing at a CAGR of 21.6% from 2023 to 2032
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Outdoor solar LED lighting systems employ solar panels to turn sunlight into electricity, which is then used to power LED lighting fixtures. These lighting systems are intended to be energy efficient, ecologically friendly, and affordable. Outdoor solar LED lighting systems are commonly used to illuminate public spaces, roadways, parks, and other outdoor places, improving safety and security while lowering energy costs and carbon emissions.
Outdoor solar LED lights have become a popular choice for lighting up outdoor spaces due to their energy efficiency and eco-friendliness. The outdoor solar LED is equipped with various types of lighting applications to meet different requirements and aesthetic preferences. The market for outdoor solar LEDs is experiencing growth, particularly in the residential and commercial sectors, where consumers are increasingly interested in sustainable and cost-effective lighting options. Smart features such as motion sensors, remote controls, and smartphone connectivity are making these lights convenient and user-friendly.
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Competitive Analysis:
The competitive environment of the outdoor solar led market is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, outdoor solar led market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the
outdoor solar led industry include:
⦁ Jiawei
⦁ LEADSUN
⦁ SEPCO Solar Electric Power Company
⦁ Solex Energy Limited
⦁ Sunna Design SA
⦁ Greenshine New Energy
⦁ Solar Street Lights USA
⦁ Signify Holding
⦁ OSRAM GmbH.
⦁ Polybrite - SBM NewTech Co., Ltd
⦁ SOKOYO Solar Lighting Co., Ltd.
⦁ OkSolar.com
The outbreak of COVID-19 has significantly impacted the growth of global supply chain. The decline in growth in manufacturing solutions has significantly impacted the demand for outdoor solar lights solutions during the pandemic. Further, the lack of availability of a professional workforce due to the partial and complete lockdown implemented by governments across the globe has restrained the growth of the outdoor solar LED market during the pandemic.
However, the surge in demand for renewable energy and solar lights solution in growing economies such as India, South Korea, Brazil, and others is expected to drive the growth of the outdoor solar LED market during the forecast period.
Significant factors that impact the growth of the global outdoor solar LED industry include, government initiatives and policies promoting the use of solar energy and energy-efficient lighting paired with the decreasing prices of LED lighting and solar panels. Moreover, the increase in demand for eco-friendly and sustainable lighting solutions is expected to drive market opportunity.
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Key Benefits for Stakeholders:
⦁ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the outdoor solar led market analysis from 2022 to 2032 to identify the prevailing outdoor solar led market opportunities.
⦁ The market research is offered along with information related to key drivers, restraints, and opportunities.
⦁ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
⦁ In-depth analysis of the outdoor solar led market segmentation assists to determine the prevailing market opportunities.
⦁ Major countries in each region are mapped according to their revenue contribution to the global market.
⦁ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
⦁ The report includes the analysis of the regional as well as global outdoor solar led market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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