The global high mast lighting market was valued at USD 1,269.8 million in 2023. Over the forecast period, demand for high mast lighting is anticipated to rise at 4.8% CAGR. The market is predicted to increase from USD 1,320.2 million in 2024 to USD 2,109.5 million in 2034.
Attributes | Key Insights |
---|---|
Market Size in 2023 | USD 1,269.8 million |
Estimated High Mast Lighting Market Size (2024) | USD 1,320.2 million |
Projected High Mast Lighting Market Value (2034) | USD 2,109.5 million |
Value-based CAGR (2024 to 2034) | 4.8% |
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High Mast Lighting Market to Expand Over 2.1x through 2034
The high mast lighting market is predicted to expand over 2.1x through 2034, accompanied by a 1.0% increase in the expected CAGR compared to the historical one. High mast lighting is increasingly crucial in industries like transportation, sports, and manufacturing due to its enhanced visibility, safety, and security benefits. By 2034, the total market revenue is set to reach USD 2,109.5 million.
North America to Lead the High Mast Lighting Market
North America is expected to dominate the high mast lighting market during the forecast period. It is set to hold around 30.4% of the market share in 2034. This is attributed to the following factors:
The high mast lighting market grew at a CAGR of 3.8% between 2019 and 2023. The market reached USD 1,269.8 million in 2023.
Historical CAGR (2019 to 2023) | 3.8% |
---|---|
Forecast CAGR (2024 to 2034) | 4.8% |
Urbanization and Infrastructure Development
Urbanization and increasing demand for infrastructure are driving strong growth in the market. As cities expand and modernize, there is a need for efficient lighting solutions to illuminate large areas such as road networks, public spaces, and industrial areas.
Energy Efficiency and Sustainability
The high mast lightening industry is experiencing significant expansion driven by increasing emphasis on energy efficiency and sustainability. LED's high efficiency, longevity, and reduced energy consumption align with global sustainability goals and are expected to fuel the market.
Integrating renewable energy and smart lighting solutions is driving market expansion as the industry converges toward environmentally conscious practices. High-quality mast lighting is crucial for sustainable urban development, requiring energy-efficient and eco-friendly technologies for continued growth and market profitability.
Technological Advancements
Ongoing technical improvements in the high mast lighting market, including smart lighting controls and sensors, are driving the market. These advancements provide features such as remote monitoring, adaptive lighting, and energy management, which improve operating efficiency.
As companies and municipalities seek smarter and more automated lighting systems, the high mast lighting market provides increasingly sophisticated and technologically advanced lighting options.
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Initial Installation Costs
The cost associated with purchasing and installing tall columns, fixtures, and necessary electrical systems is set to be substantial. This upfront investment is expected to prevent certain budget-constrained municipalities or organizations from adopting high-end mast lighting, especially when compared to traditional lighting shell
Lack of Awareness and Education
Lack of awareness among potential users and the industry is a key challenge for the high mast lighting market. Several companies still need to learn about the benefits and efficiencies of advanced wiring technology. This lack of knowledge is set to hinder market growth.
The table below shows the estimated growth rates of the leading countries. India, China, and Turkiye are set to record high CAGRs of 4.6%, 3.5%, and 3.1% respectively, through 2034.
Countries | Projected CAGR (2024 to 2034) |
---|---|
India | 4.6% |
China | 3.5% |
Turkiye | 3.1% |
Mexico | 2.3% |
Canada | 2.1% |
The high mast lighting industry in the United States is estimated to record a significant CAGR through 2034. Top factors that are propelling market growth are:
India's high mast lighting market is anticipated to expand at a CAGR of 4.6% through 2034. Key factors for continuous sales of high mast lighting are as follows:
Adopting high mast lighting in Canada is estimated to expand at a CAGR of 2.1% from 2024 to 2034. Top factors that are propelling regional growth are:
Mexico's high mast lighting industry is estimated to register a CAGR of 2.3% from 2024 to 2034. Significant influencing factors for growth of the high mast lighting industry are as follows:
China's high mast lighting industry is projected to expand at a CAGR of 3.5% through 2034. Top factors that are propelling the market growth are:
The section below shows the LED segment dominating based on technology. It is forecast to thrive at 5.1% CAGR between 2024 and 2034.
Based on application, the roads and highways segment is anticipated to hold a dominant share through 2034. It is set to exhibit a CAGR of 5.4% during the forecast period.
Top Segment (Technology) | LED |
---|---|
Predicted CAGR (2024 to 2034) | 5.1% |
Top Segment (Application) | Roads and Highways |
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Projected CAGR (2024 to 2034) | 5.4% |
The high mast lighting market is consolidated, with leading players accounting for around 31% share. Bajaj Electricals, Carolina High Mast, Jindal Power Corporation, Philips Lighting, and Yangzhou Bright Solar Solutions are the leading manufacturers and suppliers of the high mast lighting listed in the report.
Leading high-mast lighting manufacturers are investing in continuous research to produce new products and increase their production capacity to meet end-user demand. They are directed toward adopting growth strategies to strengthen their footprint, including partnerships, mergers, acquisitions, and facility expansions.
Key Companies
The market is estimated to reach USD 1,320.2 million in 2024.
By 2034, the high mast lighting industry is projected to register a CAGR of 4.8%.
By 2034, the high mast lighting industry is set to reach USD 2,109.5 million.
North America is expected to find substantial growth prospects in the future.
Bajaj Electricals, Carolina High Mast, and Jindal Power Corporation are the key players.
Roads and highways segment is expected to lead the industry by 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 4.1. Adjustable for Height 4.2. Nonadjustable for Height 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology 5.1. LED (Light-emitting Diode) 5.2. LFL (Linear Fluorescent) 5.3. HPS (High-pressure Sodium) 5.4. MH (Metal-halide Lamp) 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Roads and Highways 6.2. Industrial Areas 6.3. Stadiums and Sports Complexes 6.4. Ports and Harbors 6.5. Others 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. East Asia 7.6. South Asia Pacific 7.7. Middle East and Africa 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Bajaj Electricals 17.2. Carolina High Mast 17.3. Jindal Power Corporation 17.4. Philips Lighting 17.5. Yangzhou Bright Solar Solutions 17.6. HETEC Lighting 17.7. Industrial Poles & Masts 17.8. Genlux Lighting 17.9. Laster Tech 17.10. Valmont Industries 17.11. Millerbernd Manufacturing Company 17.12. Kasper Engineering 17.13. American LitePole 17.14. StressCrete 17.15. NATIONAL POLE 17.16. LeKise 17.17. Structural & Steel Products 17.18. Dongguan Haiguang Lighting 17.19. Fuda Lighting 18. Assumptions & Acronyms Used 19. Research Methodology
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