U.S. and Canada Solar Lights Market Research, 2033
The U.S. and Canada solar lights market size was valued at $3.0 billion in 2023 and is projected to reach $12.3 billion by 2033, registering a CAGR of 15.0%. Growing awareness of climate change and the urgent need to reduce carbon emissions are compelling both consumers and businesses in the U.S. and Canada to adopt renewable energy solutions, such as solar lighting. As the impact of fossil fuel consumption on the environment becomes increasingly evident, there is a strong shift towards sustainable practices.
Introduction
Solar lights are devices that harness energy from the sun to provide illumination. They consist of solar panels that absorb sunlight and convert it into electricity, which is stored in rechargeable batteries. When it gets dark, the stored energy powers LED bulbs or other light sources, providing a sustainable and eco-friendly lighting solution. Solar lights are commonly used in outdoor settings, such as gardens, pathways, and streetlights, as they require no external power source or wiring, making them both cost-effective and easy to install.
Key Takeaways
- The U.S. and Canada Solar Lights industry is highly fragmented, with several players including Amazon, Home Depot U.S., Lowes, Menards, Wal-Mart U.S., Target, Costco U.S., Sam’s Club, BJ’s Wholesale, Tractor Supply, Dollar Tree, Family Dollar, Dollar General, Big Lots, Ace Hardware, Orgill, True Value, Home Depot Canada, Wal-Mart Canada, Canadian Tire, Home Hardware, Rona, and Costco Canada.
- More than 6,765 product literatures, industry releases, annual reports, and other such documents of major industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The segment analysis of U.S. and Canada in terms of value ($ billion) and volume during the forecast period 2023-2033 is covered in the U.S. and Canada solar lights market report.
Market Dynamics
In the U.S. and Canada, the solar lights market is primarily driven by increasing environmental awareness and the push for renewable energy adoption, supported by government incentives and favorable policies to reduce carbon footprints. The growing demand for sustainable outdoor lighting in residential, commercial, and municipal sectors also fuels U.S. and Canada solar lights market growth.
Growing environmental awareness and the push for sustainability are pivotal drivers in the U.S. and Canada solar lights market. As climate change and environmental degradation become more pressing U.S. and Canada concerns, both consumers and businesses are increasingly conscious of their ecological impact. This awareness has led to a shift in preferences towards products and technologies that reduce carbon footprints and contribute to a greener future. Solar-powered lights, which harness renewable energy from the sun, are seen as a key solution in this regard. They offer an environmentally friendly alternative to traditional lighting systems that rely on fossil fuels, which are major contributors to greenhouse gas emissions. By adopting solar lighting, individuals and organizations can significantly decrease their reliance on non-renewable energy sources, thereby reducing their environmental impact. This trend aligns with broader sustainability goals, including reducing carbon emissions, conserving natural resources, and promoting cleaner, renewable energy sources. As a result, solar lights are gaining popularity not just for their cost-effectiveness, but also for their ability to support a sustainable and eco-friendly lifestyle.
By Type
Outdoor Solar Lights is projected as the most lucrative segment.
However, the market faces restraints, including the high initial investment costs and challenges related to the efficiency of solar lights in regions with long winters or limited sunlight. Despite these challenges, there are significant opportunities in the market, particularly with advancements in solar technology that enhance efficiency and reduce costs. Additionally, the increasing focus on smart city initiatives and off-grid energy solutions in remote areas presents a promising avenue for market expansion in both countries.
By Power Systems
Off-Grid is projected as the most lucrative segment.
Segments Overview
The U.S. and Canada solar lights market is segmented on the basis of type, panel type, solar power systems, application, and country. On the basis of type, the market is categorized into outdoor solar lights and indoor solar lights. The outdoor solar lights segment held the highest U.S. and Canada solar lights market share in 2023. Outdoor solar lights are light fixtures composed of LED lamps, photovoltaic solar panels, and rechargeable batteries. Outdoor solar lighting systems use solar cells, which convert sunlight into electricity. The electricity is stored in batteries for use at night. Outdoor solar lights are easy to install and virtually maintenance free. Several factors contribute toward the surge in demand for outdoor solar light segment as the product does not increase the electricity bills and has minimal carbon footprints. The demand for pathway light sets, wallmounted lamps, freestanding lamp posts, and security lights is increasing in the residential sector. This is expected to fuel the demand for outdoor solar lights in the U.S. and Canada market during the analyzed time frame. Moreover, improvement in storage capacity of energy in batteries is projected to create opportunity for outdoor solar lights products in the market.
By Application
Commercial is projected as the most lucrative segment.
As per panel type, the market is classified into polycrystalline, monocrystalline, and amorphous. The polycrystalline segment held the highest share in 2023. Polycrystalline materials are solids that consist of many small crystals (the “grains”). The grains are separated by grain boundaries and normally have random crystallographic orientations. Polycrystalline solar panels are typically used in highway building projects which aim to make an energy transition on a budget. The demand for polycrystalline solar panels in the solar light market is driven by the ease of manufacturing and eco-friendliness of the panels. Polycrystalline solar panels are able to perform better even in low light conditions and have a higher temperature coefficient with high power density. Polycrystalline solar panels are suitable for roof-mounted arrays. Polycrystalline solar panels are used in standalone or self-powered devices such as traffic lights in remote areas, and off-grid households. These factors are projected to boost the growth of the polycrystalline segment during the forecast period. Based on solar power systems, it is divided into off-grid, on-grid, and hybrid. On the basis of application, it is divided into residential, commercial, and others. Country-wise, the market is studied across the U.S. and Canada.
By Panel Type
Polycrystalline is projected as the most lucrative country.
Competitive Analysis
The major companies profiled in this report include Amazon, Home Depot U.S., Lowes, Menards, Wal-Mart U.S., Target, Costco U.S., Sam’s Club, BJ’s Wholesale, Tractor Supply, Dollar Tree, Family Dollar, Dollar General, Big Lots, Ace Hardware, Orgill, True Value, Home Depot Canada, Wal-Mart Canada, Canadian Tire, Home Hardware, Rona, and Costco Canada.
By Country
U.S. is projected as the most lucrative country.
Key Market Trends
- As per U.S. and Canada Solar Lights market analysis, by type, the Outdoor Solar Lights segment was the highest revenue contributor in 2023.
- By panel type, the Polycrystalline segment was the highest U.S. and Canada Solar Lights market revenue contributor, growing with a CAGR of 14.7%.
- By power systems, off-grid was the highest revenue contributor, growing with a CAGR of 15.0%.
- By application, the commercial segment was the highest revenue contributor, growing with a CAGR of 14.9%.
- Country wise, the U.S. was the highest revenue contributor in 2023.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the U.S. and Canada Solar Lights market analysis from 2023 to 2033 to identify the prevailing U.S. and Canada Solar Lights market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the U.S. and Canada Solar Lights market segmentation assists to determine the prevailing market opportunities.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the U.S. and Canada Solar Lights market trends, key players, market segments, application areas, and market growth strategies.
Analyst Review
According to CXOs of leading companies, the U.S. and Canada Solar Lights market is expected to exhibit high growth potential. The increasing global focus on renewable energy is a key driver behind the growth of the solar lights market. Governments and organizations worldwide are prioritizing clean energy to combat climate change and reduce dependence on fossil fuels. Solar lighting solutions, which rely on renewable solar energy, have become an attractive alternative to traditional lighting systems powered by non-renewable sources. As countries implement stricter environmental regulations and policies to promote sustainability, the demand for solar lights has surged. These solutions not only reduce carbon emissions but also lower electricity costs, making them highly appealing for both residential and commercial applications.
Moreover, advancements in solar and LED technology are further accelerating the adoption of solar lights. Solar panels have become more efficient, enabling better energy conversion even in low-light conditions, while battery storage capabilities have improved, allowing solar lights to function longer without relying on the grid. At the same time, LED lighting technology has become more energy-efficient and longer-lasting. The combination of these technologies ensures that solar lights provide reliable, cost-effective, and sustainable illumination. This progress has expanded the market for solar lighting in areas such as street lighting, outdoor spaces, and rural electrification, driving substantial market growth across the globe.
Key factors boosting the U.S. and Canada solar lights market include increasing government incentives for renewable energy adoption, advancements in solar technology, and growing demand for energy-efficient, eco-friendly lighting solutions in residential, commercial, and municipal sectors.
the U.S. and Canada Solar Lights market was valued at $3.05 billion in 2023 and is estimated to reach $12.34 billion by 2033, growing at a CAGR of 15.0% from 2024 to 2033.
The key players in the U.S. and Canada Solar Lights market include Home Depot Canada, Walmart Canada, Canadian Tire Corporation, Limited., Home Hardware Stores Limited, RONA INC., Costco US, Costco Canada, Amazon, Home Depot U.S., Lowe's, Menard, Inc., Walmart US, Target Brands, Inc., Sam’s West, Inc., BJ’s Wholesale, Tractor Supply Co., Dollar Tree, Inc., FAMILY DOLLAR STORES, Inc., Dollar General Corporation., Big Lots, Ace Hardware, Orgill, True Value.
The main opportunity in the U.S. and Canada solar lights market lies in the increasing adoption of smart city infrastructure and growing demand for sustainable outdoor lighting solutions in residential and commercial sectors.
The U.S. and Canada Solar Lights market is segmented based on type, panel type, power systems, application, and country. By type, the market is classified into outdoor solar lights, and indoor solar lights. By panel type, the market is divided into polycrystalline, monocrystalline, and amorphous. By power systems, the market is classified into off-grid, on-grid, and hybrid. By application, the market is divided into residential, commercial, others. Depending on country, the market is analyzed across the U.S. and Canada.
The primary restraint factors for the U.S. and Canada solar lights market are the high initial installation costs and dependence on sunlight availability, which can limit efficiency in less sunny regions or during cloudy weather.
By application, the residential segment is the fasting growing segment on the basis of application in U.S. and Canada Solar Lights Market.
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