Solar energy in the form of renewable energy is used in solar landscape lighting products. Solar energy gets converted into electrical energy by photovoltaic cells. During night-time, the lamp starts automatically, and the electricity already stored in the battery gets consumed. The battery gets recharged during the daytime and the process keeps repeating every day. The solar landscape lighting market size was valued at $3.0 billion in 2022 and is estimated to reach $5.6 billion by 2032, exhibiting a CAGR of 7.0 % from 2023 to 2032.
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Solar landscape lighting products are made up of four main
components: the solar photovoltaic (PV) panel, battery, control electronics,
and the light fixture. Solar landscape lighting products can be customized with
different features based on research and customer demand which is going to
increase the solar landscape lighting market share in the decorative lighting
industry. Solar lighting products come with several features and storing of
energy which boosts the solar landscape lighting market trends in coming years.
Solar landscape lighting has many advantages, one mainly
being it is a self-sustainable unit that helps lower the outdoor lighting
expanse in the residential sector. The demand for decorative lighting products
in developing countries creates solar landscape lighting market opportunities
in the coming years. Solar landscape lighting is a sustainable and convenient
lighting solution due to which commercial and industrial sectors have installed
solar landscape lighting at intersections and other pedestrian locations.
In addition, solar landscape lighting assists in
illuminating places with limited access to grid electricity. The surge in
awareness and promotion of green energy solution usage is expected to drive the
global solar landscape lighting market growth. The demand for solar landscape
lighting has increased in residential projects as the product enhances property
aesthetics, security, and safety of buildings & surrounding areas.
Solar landscape lighting is energy-saving, durable,
affordable, safe, and eco-friendly, which is expected to drive its demand in
smart buildings and residential projects. The products in the solar landscape
lighting industry come with security and motion sensor features, which boost
the demand for various security applications. Solar wall light products are
waterproof and heat and cold-resistant, which boosts their demand in the
residential segment. Solar wall light products can be used for security
purposes as products can adjust their brightness automatically on rainy days
and extend lighting time substantially.
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Solar motion sensor wall light is highly recommended for the
application of security lights. The market for solar motion sensor wall lights
is expected to experience growth during the forecast period as these products
keep homes and businesses secure, reduce electricity costs, and contribute to a
cleaner & greener environment. Solar motion sensor wall light product
operates through three different modes, which include- light operation
(on/off), dim mode & bright mode, and continuous dim mode, which help lower
energy consumption.
The solar landscape lighting market forecast is segmented on
the basis of type, panel type, solar power system, end-use, application, and
region. On the basis of type, the market is classified into solar post lights,
solar flood lights, solar lanterns, solar deck lights, solar wall lights, solar
step lights, solar fence lights, solar walkways lights, solar porch lights,
solar driveways lights, solar lawn lights, and others. On the basis of panel
type, the market is divided into polycrystalline, monocrystalline, and
amorphous. On the basis of solar power systems, the market is categorized into
off-grid, on-grid, and hybrid. On the basis of end-user, the market is
segregated into residential, commercial & industrial, and others. On the
basis of application, the market is fragmented into lighting, decoration, and
security. Region-wise, the market is analyzed across North America, Europe,
Asia-Pacific, and LAMEA.
On the basis of type, the solar post lights segment held a
20.6% share in terms of revenue and the segment is expected to grow at the
highest CAGR of 7.6% from 2023 to 2032. Solar post lights products are
inexpensive, low-power, and easy to use, and they lower the dependency on grid
utility. The surge in preference for clean energy solutions in the residential
sector and public infrastructure projects helps fuel the demand for solar post
lights solutions in the solar landscape lighting market.
On the basis of panel type, the polycrystalline segment held
a 50.2% share in terms of revenue and the segment is expected to grow at the
highest CAGR of 7.3% from 2023 to 2032. Monocrystalline solar panels are widely
accepted in small solar landscape lighting solutions. Monocrystalline solar
panels are eco-friendly in nature and are inexpensive. It does not wear out in
extreme weather situations, which increases its demand in the solar landscape
lighting market.
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On the basis of solar power systems, the off-grid segment
held a 74.2% share in terms of revenue and is expected to grow at a CAGR of
7.1% from 2023 to 2032. Off-grid systems avoid power outages, reduce
electricity costs, and their ease of installation boosts its adoption in
highway projects and garden lighting. The off-grid solution acts as an
alternative power source for rural areas and highway streetlights, which
increases its demand in the solar landscape lighting market.
Solar landscape lighting products reduce the cost of outdoor
garden lighting while maintaining security and the visual appeal of the home.
On the basis of application, the lighting segment held a 42.2% share in terms
of revenue and is expected to grow at a CAGR of 7.5% from 2023 to 2032. Solar
landscape lighting products are used for lighting purposes at a low cost. Solar
landscape lighting products come with security features, which increases the
demand for security applications also in the forecast period.
David Correa
Allied Analytics LLP
+ 1-800-792-5285
email us here
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