Solar Lights Market Research Report Covering Prime Factors And Competitive Outlook Till 2031

"Solar Lights Market," The solar lights market was valued at $8.1 billion in 2021, and is estimated to reach $14.2 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.

Solar lights are one of the most environment-friendly and sustainable outdoor lighting solutions available. Solar lights are portable light fixtures composed of LED lamps, photovoltaic solar panels, poles, light sensors, and rechargeable batteries. A solar panel collects solar energy during daylight hours and charges a battery which powers a fixture solar light at night. Solar light products provide affordable, attractive, low-maintenance illumination for residential, commercial, and public infrastructure.

The report includes the study of the solar light market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter's five forces analysis of the solar light industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth. Additionally, solar lights are particularly helpful for outdoor spaces and can be installed anyplace, which is expected to support the expansion of the global solar light market in the coming years.

Energy independence, easy installation, reliability, and waterproofing elements are some factors driving the growth of the solar lights market share during the forecast period. Solar lights can meet unique performance parameters by varying solar panel size, bulb brightness, battery size, lighting angles, pole heights, and special features like motion sensors or network connectivity which helps boost the solar lights market size.

The gradually growing requirement of energy and the limited resource of traditional energy sources are challenging for both developed and developing countries. Solar lights provide a clean, cost-effective, environment-friendly solution to provide households with access to lighting. Awareness related to clean energy is increasing in the developing nations boosting the global solar lights market trends in near future. A wide variety of off-grid solar products, ranging from large installations powering to small portable lights are gaining popularity in low- and middle-income countries. Prices for different type of solar lights have decreased by around 80% in the past 6 years and are expected to drop even further which is driving the growth of the solar lights industry. Governments, NGOs and other organizations accelerating the adoption of solar lights through tax cuts, subsidies which is creating more favorable opportunity for solar lights market growth in the near future.

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Global Solar Lights Market: Major Players
Coleman Cable
Nature Power
Philips Lighting
Tesco
Eglo
D.light
Brinkman
Westinghouse
Gama Sonic
XEPA

Global Solar Lights Market: Types
Home Lights
Signal Lights
Lawn Lights

Global Solar Lights Market: Applications
Roadway
Area Lighting
Home Lighting

Global Solar Lights Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Solar Lights market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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