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Outdoor Solar LED Market size is expected to reach USD 68.58 billion by 2032. The industry is undergoing a transformation driven by increasing demand for durable, high-performance industrial components across various sectors.
Market to Hit USD 68.58 Bn by 2032
Outdoor Solar LED Market size was valued at USD 9.82 billion in 2024 and expected to expand at a compound annual growth rate (CAGR) of 27.5% from 2025-2032, reaching USD 68.58 billion by 2032. In 2024, Outdoor Solar LED Market Size was valued at approximately USD 1.58 billion in North America and its Market share of 16.1%. Also, in Europe held a market share of 20.3% in the same year, equating to revenues of USD 2 billion in 2024.
Leading market Players Fueling Industry Evolution
In 2024, the Greenshine New Energy (USA) is valued at approximately USD 7.9 million while Polybrite – SBM NewTech Co., Ltd (China) is valued at USD 69.5 million and Signify Holding (Netherlands) is valued at USD 6.4 billion respectively in Outdoor Solar LED Market.
Solar LED Street Lights is dominated by Application segment in terms of value, in 2024
This Solar LED Street Lights sector dominates the Outdoor Solar LED Market which its market share of 54.6% in 2024. This growth is largely run by many projects launched by local governments and energy providers. Since its inception, BSL has acquired about 3.0 million USD in funding from the Capital and Technology Reform Expenditure Program (CTIEP).
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Watase LED (less than 39W) is dominated by Wattage segment in terms of value, in 2024
This Solar LED Street Lights sector dominates the Outdoor Solar LED Market which inspired by residential adoption, strength, and increased energy efficiency. To meet the growing demand, manufacturers continue to enhance their manufacturers, expanding their product portfolio.
Europe is estimated to be the Second-largest dominating region in terms of value, during the forecast period
This is the second largest region in Outdoor Solar LED Market which the valued at approximately USD 2 billion in Europe and its Market share of 20.3% in 2024. Germany, the UK, and France are significant players in the European outdoor solar LED market.
Asia Pacific is estimated to be the largest dominating region in terms of value, during the forecast period
This is the largest region in Outdoor Solar LED Market which its market share of 46.3% in 2024. Countries like India and China have been at the forefront, which is investing heavily in solar power projects to increase stability and reduce carbon emissions. Asia Pacific dominated the outdoor lighting market in the roads and roadways segment, taking over approximately 54% market share in 2024.
Outdoor Solar LED Market Competitive Landscape
Greenshine New Energy (USA): Specializes in the design and manufacture of solar-powered lighting systems, including outdoor LED lighting for parking lots, streets, paths, and public spaces. In 2024, Greenshine remained committed to offering cost-effective solar lighting solutions for commercial, industrial, and residential applications, especially in California. This company’s revenue in 2024 was USD 7.9 million.
Polybrite – SBM NewTech Co., Ltd (China): An innovative technology company that specializes in the research, development, manufacturing, and sale of lightweight photovoltaic modules. In June 2024, Polybrite was recognized at the SNEC Photovoltaic Exhibition for its new lightweight solar module, the JY series with HPBC battery. This company earned a revenue USD 69.5 million in 2024.
Signify Holding (Netherlands): The global leader in solar lighting and other lighting systems, with a particular emphasis on sustainability. In 2024, this business brought in USD 6.4 billion. Signify established an LED lighting production facility in Jiujiang, Jiangxi Province, China, in August 2023. Under the Philips brand, this factory manufactures premium LED lighting products for the Chinese and international markets.
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Emerging Trends in the Outdoor Solar LED Market
- Greenshine is emphasizing modular solar lighting systems tailored for smart city applications, with a focus on affordability and off-grid capabilities in urban and suburban projects.
- Polybrite is leading with lightweight, bendable photovoltaic modules, targeting greater design flexibility for curved surfaces and portable lighting use.
- Meanwhile, Signify is pushing forward with connected solar lighting solutions, integrating IoT and energy management technologies to enhance urban infrastructure and sustainability efforts, especially in emerging markets.
- Collectively, these companies are setting the pace for decentralized, energy-efficient, and digitally integrated lighting systems.
Conclusion
- With a projected CAGR of 27.5%, the market is expected to reach USD 68.58 billion by 2032, spearheaded by applications like solar LED street lights and low-wattage residential solutions.
- Regional leaders such as Asia Pacific, Europe, and North America are shaping the competitive landscape, while key players like Greenshine, Polybrite, and Signify are fueling growth through specialized innovations.
- Their focus on modularity, energy efficiency, and smart integration reflects a strong shift toward intelligent, decentralized lighting infrastructure.
- As adoption broadens across urban and rural settings, the Outdoor Solar LED Market is poised to play a central role in the global transition to sustainable energy.
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