Solar Lighting Systems

Global Solar Lighting Systems Market to Reach US$19.2 Billion by 2030

The global market for Solar Lighting Systems estimated at US$8.6 Billion in the year 2024, is expected to reach US$19.2 Billion by 2030, growing at a CAGR of 14.4% over the analysis period 2024-2030. Off-Grid, one of the segments analyzed in the report, is expected to record a 15.2% CAGR and reach US$13.7 Billion by the end of the analysis period. Growth in the Hybrid segment is estimated at 12.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.9 Billion While China is Forecast to Grow at 16.6% CAGR

The Solar Lighting Systems market in the U.S. is estimated at US$1.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.9 Billion by the year 2030 trailing a CAGR of 16.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.1% and 11.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR.

Global Solar Lighting Systems Market - Key Trends and Drivers Summarized

Solar lighting systems utilize solar panels to convert sunlight into electricity, which is then used to power lighting fixtures. These systems are increasingly popular in residential, commercial, and industrial settings, as well as in public spaces such as streets and parks. The core components of a solar lighting system include photovoltaic panels, a battery for energy storage, a control system to regulate power, and light fixtures, typically LED due to their energy efficiency and longevity. Solar lighting is a sustainable solution that reduces reliance on grid power and minimizes environmental impact. It provides a practical option in areas lacking electrical infrastructure and is often used in remote locations, highlighting its versatility and adaptability to various environmental conditions.

The market for solar lighting systems has expanded significantly due to their cost-effectiveness and the global shift towards renewable energy sources. Technological advancements have led to more efficient solar cells, improved battery storage capabilities, and smarter control systems that optimize energy use and extend operational hours. These innovations have enhanced the reliability and performance of solar lighting systems, making them competitive with traditional grid-powered lighting in terms of both illumination quality and durability. Moreover, government policies worldwide support the adoption of solar lighting through incentives like subsidies, tax rebates, and grants, particularly in developing countries striving to improve rural electrification and reduce carbon footprints. This support has propelled the deployment of solar lighting systems in public infrastructure projects, enhancing safety and security in communal areas while promoting sustainable development.

The growth in the solar lighting market is driven by several factors, including advancements in LED technology, increased environmental awareness, and evolving consumer preferences. LED technology has significantly enhanced the efficiency and effectiveness of solar lighting systems, allowing for brighter illumination with less energy consumption. This technological improvement has broadened the applications of solar lighting in more demanding environments, such as industrial sites and major roadways. Environmental concerns, particularly about reducing greenhouse gas emissions and energy conservation, have also spurred growth in the solar lighting market. Consumers and governments alike are prioritizing eco-friendly solutions, which has led to increased investment and adoption of solar technologies. Furthermore, the expansion of the solar lighting market is bolstered by the growing trend of smart cities, where integrated, energy-efficient, and sustainable technologies are crucial. The integration of IoT technologies into solar lighting systems for better management and maintenance is a testament to how consumer demand for smarter, more connected solutions is shaping the market. 

SCOPE OF STUDY:

The report analyzes the Solar Lighting Systems market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Light Source (LED, Other Light Sources); Grid Type (Off-Grid, Hybrid); Application (Commercial, Highways & Roadways, Industrial, Residential, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 83 Featured) -

• Jain Irrigation Systems Ltd.
• Halonix Technologies Ltd.
• Exide Industries Ltd.
• Hippo Innovations Pvt., Ltd.
• BISOL Group, d.o.o.
• Clear Blue Technologies Inc.
• Azuri Technologies Ltd.
• Deepa Solar Systems Pvt. Ltd.
• Dragons Breath Solar
• COVIMED Group
• FlexSol Solutions B.V.
• Cooper Lighting, LLC
• Kamworks
• Microenergy Credits
• Integrated Batteries India Private Limited (IB Solar)

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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