Solar Lighting System Market Size To Hit USD 29.17 Billion By 2032, Driven By Increasing Demand For Sustainable And Energy-Efficient Lighting Solutions | SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Solar Lighting System Market is growing steadily, driven by rising demand for sustainable, energy-efficient outdoor and off-grid lighting solutions in urban and rural areas.

Austin, April 14, 2025 (GLOBE NEWSWIRE) -- Solar Lighting System Market Size & Growth Insights:

According to the SNS Insider Report,“The Solar Lighting System Market was valued at USD 8.32 billion in 2023 and is projected to reach USD 29.17 billion by 2032, growing at a CAGR of 14.96% from 2024 to 2032.”

Smart Solar Lighting: Driving Sustainable Growth Through Innovation and Efficiency

The demand for solar-powered lighting systems is rising rapidly, driven by advancements in solar technology and the integration of solar lighting into smart cities and urban infrastructure. Solar lighting offers an efficient and sustainable alternative to traditional systems, particularly for street lighting and off-grid applications. Technological developments have enhanced the efficiency and storage capabilities of solar systems, making them more viable and cost-effective. Emphasis on energy efficiency, sustainability, and reducing carbon emissions further boosts market growth. In the U.S., the solar lighting system market was valued at USD 1.35 billion in 2023 and is projected to reach USD 1.89 billion by 2032, growing at a CAGR of 15.44%.

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Leading Market Players with their Product Listed in this Report are:

• Philips (Netherlands) – Solar LED street lights, solar-powered outdoor lighting solutions.
• Sunna Design Inc. (France) – Solar-powered streetlights and smart lighting solutions.
• Solar Electric Power Company (USA) – Solar street lighting systems, solar energy solutions.
• Solar Street Lights USA (USA) – Solar street lighting solutions for commercial and residential applications.
• Shenzhen Jiawei Solar Lighting (China) – Solar street lights, solar garden lights, and solar lanterns.
• Eaton Corporation (USA) – Solar-powered LED street lighting, energy-efficient lighting systems.
• Greenshine New Energy (USA) – Solar street lighting, solar-powered outdoor lighting systems.
• Yingli Solar (China) – Solar panels, solar lighting solutions for urban and rural areas.
• Array Technologies (USA) – Solar tracking systems, solar energy products.
• Sungrow Power Supply Co., Ltd. (China) – Solar lighting systems, photovoltaic inverters, solar energy solutions.
• Para Light Electronic (China) – Solar street lighting components, LED lighting solutions .

Solar Lighting System Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 8.32 Billion
Market Size by 2032	USD 29.17 Billion
CAGR	CAGR of 14.96% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	. By Light Source (LED, Others) . By Grid Light Source (On-grid, Off-grid, Hybrid) . By Application (Highways & Roadways, Industrial, Commercial)
Key Drivers	. Energy efficiency, cost savings, and sustainability are transforming the solar lighting system market. . Solar Lighting Systems as a Sustainable Solution for Rural Electrification and Socio-Economic Development.

This growth is supported by rural electrification, renewable energy adoption, and government incentives. Solar systems offer substantial cost savings over time; for instance, a 10-kilowatt system may save approximately $62,219 over 25 years. The widespread adoption of energy-efficient LED technology in solar lighting also contributes to reduced energy consumption and maintenance costs, solidifying solar lighting as a smart and sustainable solution.

Solar Lighting System Market Surges Ahead with LEDs, Off-Grid Solutions, and Smart Infrastructure Integration

By Light Source

In 2023, the LED segment dominated the solar lighting system market with a 78% revenue share, driven by its exceptional energy efficiency, long lifespan, and low maintenance needs. LEDs convert 95% of energy into light, significantly reducing electricity usage and operational costs. Their durability-lasting up to 100,000 hours-minimizes replacements and enhances reliability.

LEDs are projected to be the fastest-growing segment from 2024 to 2032, fueled by rising demand for sustainable, cost-effective lighting solutions. Continued advancements in luminance and integration with smart systems are expected to further strengthen their market position in the coming years.

By Grid Type

In 2023, the off-grid segment led the solar lighting system market with a 65% revenue share, driven by rising demand in remote and rural areas lacking access to traditional grid power. These systems offer cost-effective, sustainable lighting with easy installation and low maintenance, making them vital for rural electrification.

The hybrid segment is expected to grow the fastest from 2024 to 2032, because it combines solar energy and grid power, which is more reliable. Hybrid systems are becoming popular, especially in urban and suburban markets, or for their energy efficiency, flexibility and reduced reliance on the traditional power grid.

By Application

In 2023, the commercial segment held the largest revenue share in the solar lighting system market at approximately 50%, driven by growing demand for energy-efficient lighting in offices, retail, and industrial spaces. Businesses are adopting solar lighting to reduce electricity costs and align with sustainability goals, benefiting from low maintenance and energy savings.

The highways and roadways segment is expected to be the fastest-growing From 2024 to 2032, owing to the increasing demand for off-grid, energy-saving street lights in urban as well as rural settings. Technological improvements, including better battery storage and resilient LEDs, bolster its growth and adoption, particularly in light of increasing green infrastructure projects.

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Asia-Pacific Leads While North America Surges in Solar Lighting System Market

In 2023, the Asia-Pacific region dominated the solar lighting system market with a 43% share, driven by rapid urbanization, infrastructure development, and strong government support for renewable energy. Countries like China, India, and Japan are heavily investing in solar technologies to improve energy efficiency and sustainability. The widespread need for reliable lighting in off-grid rural areas further boosts adoption across the region. Affordable manufacturing, technological advancements, and favorable policies also contribute to Asia-Pacific's leading position.

North America is projected to be the fastest-growing market from 2024 to 2032, due to increasing investments in renewable energy, significant government incentives, and its growing demand for energy-efficient lighting in the residential and commercial sectors. Adoption is propelled by technological advancement and increased consciousness of environmental sustainability, particularly in remote and rural areas. As the potential mass introduction of alternative energy sources emerges over the next several years, the demand for off-grid and hybrid solar lighting systems is surging throughout North America due to consumers' desire for viable, efficient and environmental-friendly replacements to grid lighting.

Recent Development

• In 18 November 2024, Yingli Solar launched its“Global Techspark Workshops” in Kuala Lumpur, Malaysia, to showcase advanced PV technologies and strengthen its presence in Southeast Asia. This initiative highlights Yingli's commitment to supporting Malaysia's energy transition and expanding regional market opportunities.
• In 22 August 2024, Eaton showcased its advanced Crouse-Hinds series solutions, including LED lighting and surge protection devices, at Automation Expo 2024 in Mumbai. The display emphasized Eaton's commitment to innovation and local manufacturing in India's power management sector.

T able o f Contents - Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Integration with Smart Cities and Urban Development

5.2 Battery Technology and Energy Storage

5.3 Energy Efficiency and Sustainability

5.4 Impact of Electrification and Rural Development

6. Competitive Landscape

7. Solar Lighting System Market, by Light Source

8. Solar Lighting System Market, by Grid Light Source

9. Solar Lighting System Market, by Application

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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