1. Market Research
  2. > Electronics
  3. > Industrial Electronics
  4. > Lighting Market Trends
Street and Roadway Lighting Market - Growth, Trends, Forecasts (2020 - 2025)

Street and Roadway Lighting Market - Growth, Trends, Forecasts (2020 - 2025)

  • August 2020
  • 145 pages
  • ID: 5954275
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The street and roadway lighting market was valued at USD 8.17 billion in 2019, and it is expected to reach a value of USD 11.04 billion by 2025, registering a CAGR of 5.35% during the forecast period (2020 - 2025). The increasing complexities of transportation infrastructure have increased the need for enhanced illumination on the streets and roadways, in order to ensure smooth traffic flow and ensuring people’s safety on the streets, while maintaining cost-efficiency.

- Roadway lighting is considered as an important safety feature for busy streets and highways, where visibility is essential. According to CED Engineering, proper lighting can be expected to reduce night crashes by approximately 30%, thereby improving safety for drivers, riders, and pedestrians.
- According to the UN, 68% of the total world population will live in urban areas by 2050. It will put tremendous pressure on limited city resources and lightning streetlights costs for 30% to 50% of a typical city’s energy bill. For instance, the European Commission stated that they pay more than EUR 10 billion annually to power their streetlights. Therefore, with smart street lights, cities can conserve energy, decrease CO2 emissions, limit light pollution, and lower operations and maintenance costs.
- Moreover, nowadays, to conserve energy, LED lights with the Photodiodes and IR sensors are used to sense vehicle moments. It is implemented to control lights based on vehicles and pedestrian moments with the bright and dim mode of operation and to switch off lights during no vehicles and pedestrian. All these factors have a positive impact on the street and roadway lighting market.
- Further, in Feb 2019, the European Union adopted new guidance on roadway lighting installations. In August 2019, the European Commission sanctioned EUR 82 million for 20 smart city projects to design technology solutions for urban security, digital transition, urban land use, and urban poverty.
- Owing to the COVID-19 outbreak, the market is witnessing a halt in production and disruption in the supply chain, leading to weakened growth of industrial output and the decline in light-manufacturing production across significant manufacturing hubs.?

Key Market Trends
LED Lights Segment to Exhibit Significant Growth

- LED lights produce light approximately 80% more efficiently than any other light bulbs, such as fluorescent and incandescent lights. 95% of the energy in LEDs is converted into light, and only 5% is wasted as heat, which is pushing users to opt for a more economical form of lighting.
- LED lights provide a consistent light by improving the overall visibility and provides added security for street and highway locations. They can also be paired with motion sensors, photocells, and timers to offer a lighting control system for efficient usage.
- The International Energy Agency (IEA) estimated that road lighting accounts for 4% of total global light and a switch to LED lights can save an average of 50% in energy costs, which results in global savings of USD 160 billion energy costs, and 555 million tons of CO2.
- Moreover, government initiatives are also fueling the market growth, as many governments across the world are structuring regulations for encouraging LED adoption. For instance, in India, the government’s initiative such as SLNP (Street Light National Program), which is an initiative to replace 21 million streetlights with LED, further contributes to the market growth.
- Additionally, LED lighting applications provides colors across the full spectrum, and thus help in improving the aesthetics of outdoor spaces, bridges, roads, and buildings. For example, the Empire State Building in New York, USA, and the Baron Palace in Cairo, Egypt.

Asia-Pacific to Witness the Fastest Growth Rate

- Asia-Pacific is expected to witness the fastest growth because of the increasing smart city initiatives in this region. Smart street lights are the backbone of the smart city project due to the benefits associated with LED lighting.
- Additionally, in countries, like China and India, the governments are encouraging the adoption of LED technology for roadway and highway applications, in order to save energy and maintenance costs.
- Further, in order to promote investments in the market, the Indian government has only imposed a free tariff (basic tariff) on LED component imports, facilitating the LED products to enter the market as semi-finished products.
- China aims to encourage 100 new smart cities from 2016 to 2020 to lead the country’s urban planning and development. Over 1,000 smart city pilot projects across the globe are ready for and are under construction, and China is home to about 500 of them, covering small and big cities. Thailand’s Government is planning to achieve the mandate of 100 smart cities within 20 years. This is expected to drive the growth of the market in the region.

Competitive Landscape
The street and roadway lighting market is fragmented and highly competitive owing to the presence of a large number of regional and international players across the globe. Some of the major players are Signify, OSRAM, Cree, among others. Road lighting is an essential service provided by governments to ensure safety and security at night for its citizens and significant infrastructure developments, such as the construction of highways for connecting cities, are few factors because of which companies are entering into this market. Some of the recent developments are:
- May 2020 - GE Current opened a new distribution center in the greater Atlanta area. With the addition of the location, GE Current will be able to provide same-day and next-day service to its lighting and controls customers regionally.
- Mar 2020 - Signify announced the completion of the acquisition of Cooper Lighting Solutions from Eaton for USD 1.5 billion. With this acquisition, the company plans to focus on the innovation of connected lightings and systems. This is estimated to drive the revenue growth of the company in the North American market with an aimed increase in professional revenues from 42% to 53%.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Work Light Market - Global Outlook and Forecast 2020-2025

  • $ 3500
  • July 2020
  • 300 pages

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Work Light Market Report The global work light market by revenue is expected to grow at a CAGR of over 6% during ...

  • World
  • Lighting
  • Industry analysis
  • Energy Consumption
  • Electricity Consumption

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on