Global Outdoor Lighting Market Research Report: by Lighting Type (LED Lamps, HID Lamps, Plasma Lamps, Fluorescent Light), by Distribution Channel (Retail, Commercial), by Application (Street Lighting, Highways, Stadiums, Parking Lots, Tunnel Lights, Parks, Others), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) - Forecast till 2025
Outdoor Lighting MarketOutdoor Lighting Market Synopsis
The 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%.
Currently, outdoor lighting is used to add aesthetic appeal and increase safety and security. Global industry players are expanding their market reach through the development of innovative solutions in outdoor lighting portfolio. The vendors of the outdoor lighting systems provide various advanced solutions to the users with easy and smart control operation, better energy efficiency, and superior illumination with low power consumption.
Growing adoption of energy-efficient and affordable products and increasing government focus on energy conservation is expected to drive the outdoor lighting market during the forecast period. However, high import duties on lighting solutions can restrain the market during forecast period. Development of wireless technologies for outdoor lighting systems and the adoption of IoT technology for smart street lighting and smart city projects are expected to create growth opportunities in the outdoor lighting market. Philips offers various outdoor lighting products for a number of end-use applications such as road and urban lighting, floodlighting in sports arenas tunnel and underpass lighting, and landscape lighting which are easy to install and provide a high level of illumination.
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Outdoor Lighting MarketRegional Analysis
Globally, the outdoor lighting market has been categorized into five regions - North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Europe is expected to dominate the outdoor lighting market during the forecast period. Presence of global players such as Philips Lighting and Osram Licht AG and government initiatives in the favor of smart lighting control systems are expected to dominate the outdoor lighting market in this region.
Asia-Pacific is expected to be at the second position and grow at a faster rate during the forecast period due to various infrastructure development projects such as smart cities across the region. Countries such as China, Japan, South Korea, and India are expected to dominate the outdoor lighting market during the forecast period.
North America is expected to occupy the third position in terms of market share due to the early adoption of the latest technologies and presence of global players such as Cree Inc. and General Electric Company. The US is expected to dominate the outdoor lighting market during the forecast period. However, Canada is expected to grow at a higher rate during 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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