From GlobeNewswire: 2025-04-14 09:00:00

The Solar Lighting System Market was valued at $8.32 billion in 2023 and is projected to reach $29.17 billion by 2032, growing at a CAGR of 14.96%. Technological advancements in solar lighting systems are driving sustainable growth, with the U.S. market expected to reach $1.89 billion by 2032.

The market is dominated by leading players such as Philips, Sunna Design Inc., and Solar Electric Power Company, offering a range of solar-powered lighting solutions. The emphasis on energy efficiency and sustainability is propelling market growth, with smart solar lighting integrating into smart cities and urban infrastructure.

LEDs are the dominant light source in the solar lighting system market, accounting for 78% of revenue in 2023. The off-grid segment leads the market with a 65% share, while the commercial segment holds the largest revenue share at 50%. The highways and roadways segment is expected to be the fastest-growing, driven by demand for energy-saving street lights.

Asia-Pacific leads the market with a 43% share, driven by rapid urbanization and government support for renewable energy. North America is projected to be the fastest-growing market, fueled by investments in renewable energy and a growing demand for energy-efficient lighting. Recent developments include Yingli Solar’s workshops in Malaysia and Eaton’s showcase in India.

The Solar Lighting System Market Report provides insights into market size, segments, and key drivers like energy efficiency and sustainability. With the increasing focus on sustainable solutions and technological advancements, the market is poised for significant growth in the coming years.



Read more at GlobeNewswire: Solar Lighting System Market Size to Hit USD 29.17 Billion