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%. 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. In this guidance, all the light sources must be equipped with controls that allow dimming to at least 50% of the maximum light output with a dimming control target of maximum 10%. Siteco GmbH develops town and park luminaires, road luminaires, and tunnel luminaires with energy efficiency and high light quality for safety and security. General Electric Company has developed Evolve LED lighting fixtures for outdoor work yards, roadside commercial establishments, suburban developments, and rural areas.
By lighting type, the Outdoor Lighting Market has been segmented into LED lamps, HID lamps, plasma lamps, and fluorescent light. By distribution channel, the outdoor lighting market has been segmented into retail and commercial. By application, the outdoor lighting market has been segmented into street lighting, highways, stadiums, parking lots, tunnel lights, parks, and others. By region, the outdoor lighting market has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and South America.
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The key players in the outdoor lighting market are Philips Lighting Holding B.V.(The Netherlands), General Electric Company (GE (NYSE)), Osram Licht AG (OSR (ETR)), Cree, Inc. (CREE (NASDAQ)), Eaton Corporation PLC (ETN (NYSE)), 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.
Asia-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 a steady rate during the forecast period. Europe is expected to dominate the outdoor lighting market during the forecast period. Government initiatives regarding smart lighting control systems are expected to drive the market in European countries. Germany, the UK, the Netherlands, Sweden, Italy, and France are expected to grow at a high rate during the forecast period. However, Portugal, Norway, Switzerland, and the Rest of Europe are expected to grow at a stable rate during the forecast period. The Middle East and Africa and South America segment is expected to grow at stable rate during the forecast period.
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