Outdoor Lighting Market Trends
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Outdoor Lighting Market Trends. The growth sectors of the Outdoor Lighting Market Trends are identified with precision for a better growth perspective.
According to Market Research Future, the global outdoor lighting market has been segmented based on lighting type, distribution channel, application, and region.
Outdoor lighting is a fixed artificial lighting that is used to brighten the outdoor areas. Outdoor lighting improves the visual performance to increase safety and security in outdoor areas. Demand for smart controls in street lighting systems and need for energy-efficient lighting systems for highways are expected to drive the outdoor lighting market during forecast period. However, the high installation cost of smart lighting is expected to restrain the market during forecast period.
Global outdoor lighting market has been segmented into lighting type, distribution channel, application, and region.
By lighting type, the outdoor lighting market has been segmented into LED lamps, HID lamps, plasma lamps, and fluorescent lights. The HID lamps segment is expected to dominate the outdoor lighting market during the forecast period as they offer durability, high lumen output per watt, and are small in size. However, the LED lamps segment is expected to grow at faster rate during forecast period. HID lighting replaces the filament of a light bulb with the capsule of gas. HID lights require a ballast, which carefully controls the voltage supplied to the capsule of the gas. LED lamps provide better illumination than any other type of light. The demand for smart control in street lighting systems is expected to drive the LED lamps market during forecast period. In plasma lighting technology, light comes from a small and single point source. This light output is completely bidirectional and puts more lumens on the ground when it is needed. In August 2018, the European government launched Humble Lamppost project with an aim to save USD 2.46 billion on electricity every year. In this project, 60 to 90 million 25-year-old streetlights have been replaced with more efficient LEDs. This lamppost consists of smart lighting system, application-based wireless control, E-vehicle charging, push-to-talk system, and photovoltaic cells for lamp and mobile phones.
On the basis of the distribution channel, the outdoor lighting market has been segmented into retail and commercial. The commercial segment is expected to dominate the outdoor lighting market during the forecast period because outdoor lights are mainly sold in bulk, based on their companies, utility, or specialty distributors.
By application, the outdoor lighting market has been segmented into street lighting, highways, stadiums, parking lots, tunnel lights, parks, and others. The street lighting segment is expected to dominate the application segment due to various government initiatives taken for streetlight control systems. The highway segment is expected to grow at the higher rate during the forecast period.
Key Players
The key players in the outdoor lighting market are Philips Lighting Holding B.V.(The Netherlands), General Electric Company (US), Osram Licht AG (Germany), Cree, Inc. (US), Eaton Corporation PLC (Ireland), Hubbell Incorporated (US), Dialight PLC (US), Zumtobel Group AG (Austria), Syska (India), Virtual Extension (Israel), Evluma (US) Halco Lighting Technologies (US), and Masco Corporation (US) among others.
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Outdoor Lighting Market TrendsThe global market for outdoor lighting was valued at USD 9.4 billion in 2018; it is expected to reach USD 25.2 billion by the end of the forecast period at a CAGR of 15.0%.
The trend of outdoor lighting is gaining popularity and companies are continuously focusing on developing technologies for roadways and highways applications.
Increasing government focus on energy-efficient light sources and energy conservation is expected to drive the market during the forecast period.
In May 2019, the European Union adopted new guidance on roadway lighting installations.
General Electric Company has developed Evolve LED lighting fixtures for outdoor work yards, roadside commercial establishments, suburban developments, and rural areas.Key PlayersThe key players in the outdoor lighting market are Philips Lighting Holding B.V.(The Netherlands), General Electric Company (US), Osram Licht AG (Germany), Cree, Inc. (US), Eaton Corporation PLC (Ireland), Hubbell Incorporated (US), Dialight PLC (US), Zumtobel Group AG (Austria), Syska (India), Virtual Extension (Israel), Evluma (US) Halco Lighting Technologies (US), and Masco Corporation (US) among others.Regional AnalysisAsia-Pacific is expected to grow at the highest CAGR during the forecast period due to a number of smat city initiatives, growing smart building market, and many other development projects.
China, Japan, Taiwan, and India are expected to dominate the market and Australia, Singapore, and New-Zealand are expected to grow at steady rate during forecast period.
