Outdoor Lighting Market

Market Overview

Outdoor Lighting Market Snapshot

The global outdoor lighting market is anticipated to experience positive growth until 2025. As urbanization expands, the demand for well-illuminated roadways, railways and streets has witnessed a steady increase.

A significant proportion of infrastructure budget is devoted to outdoor lighting networks. More recently, environmental concerns have accelerated adoption of sustainable lighting options.

Governments are increasingly pushing for adoption of LED and other energy saving alternatives, which also reduce maintenance costs. Repeated calls for green energy are pushing up demand for these alternative options.

This increasing adoption of LED lights is anticipated to generate highly lucrative growth prospects in the outdoor lighting market landscape.

LED Lights to Tower over Other Lighting Types, Attributed to High Energy Conservation

LEDs have become the most preferred lighting option, particularly with respect to affordability. LEDs are comparatively inexpensive over other options such as fluorescent lamps.

Rapid population expansion has necessitated heavy urbanization, which in turn has increased demand for electricity generation. Power companies are thus looking for energy saving alternatives.

LEDs have proven highly effective in addressing this demand. Moreover, LED lights are in sync with the global demand for clean and green energy. Large-scale adoption of LED lighting has opened up avenues for design-related advancements. Moreover, the advent of Industry 4.0 has compelled industrialists to invest in these energy efficient solutions.

LED lights are known to provide a lifespan of nearly 50,000 hours and work effectively by only utilizing a fraction of energy as opposed to conventional and CFL bulbs. Moreover, the optimum brightness levels does not inconvenience individuals by throwing excessive light into the eyes. Due to these factors, outdoor LED light adoption will surge in the coming years.

Street Lighting to Pivot Outdoor Lighting Market Growth, Highways to Catch Up

Street Lighting accounts for the majority share of the global outdoor lighting market growth, attributed to the need for enhanced visibility of the surroundings at night. Nowadays, changing lifestyles have ushered in an era of nocturnalism. Increasing prevalence of night-lives in major cities is pushing up demand for adequate street lighting.

Additionally, surging crime rates such as robberies, physical assaults and rapes under the cover of darkness is prompting government authorities to keep the streets well-lit, pushing up the demand for outdoor lighting in the past several years. The use of LED Street lights have picked up immense pace in recent years.

As the volume of vehicular traffic is increasing, there is an increased demand for lights across highways. Countries such as India have highways which are devoid of any kind of lighting facilities, thus increasing the number of accidents and fatalities. To combat this, governments are pushing for proper lighting facilities.

Burgeoning Infrastructure Projects to Accelerate Investment in the Asia-Pacific Outdoor Lighting Market

Rapid urbanization trends in the wake of an exploding population is catapulting adoption of outdoor lighting in the Asia-Pacific region. As of 2019, Asia-Pacific became majority urban in 2019, with over 2.3 billion people residing in cities.

Also, increasing smart city projects have necessitated the incorporation of smart lighting mechanisms, thus uplifting market growth.

It is estimated that by 2025, the number of urban dwellers in the region is expected to rise twofold. Therefore, the need for smart management in terms of water treatment, environmental monitoring, power generation and energy conservation is bound to increase.

Hence, LED outdoor lighting is considered a highly plausible option in this regard.

Growth Deceleration Expected due to Stalling Projects amid the COVID-19 Pandemic

As the coronavirus pandemic intensifies, the world is headed towards a major economic slump. The high rate of contagion is forcing industries to remain shut, impeding their revenue prospects.

With the construction and infrastructure industries in doldrums, a major trough is anticipated for the outdoor lighting market in the short-run. Mandatory social distancing protocols have also reduced outdoor leisure activities, such as strolling in parks, going for drives and watching sporting events in stadiums.

Being extensive users of outdoor lights, this slump in outdoor activities is expected to hinder market prospects due to falling sales, leading to a temporary hiatus.

However, growth is anticipated to pick up pace after 2021, when a proper vaccine or drug is developed and administered to all individuals. This will permit resumption of outdoor leisure and economic activities. This will lead to heightened usage of outdoor lights, thereby accelerating their demand in the long-term forecast.

Market Players Capitalizing on Launching Smart-Lighting Solutions to Stay Afloat in the Market

The global outdoor lighting market is characterized by the presence of several prominent players. These include

• Syska LED but not limited to 
• General Electric Company 
• Zumtobel Group AG
• Osram Licht AG 
• Hubbell Incorporated
• Eaton Corporation Plc 
• Cree Inc 
• Virtual Extension
• Dialght Plc 
• Signify Holdings 
• Cree Inc.

The aforementioned players are concentrating on improving the efficiency of smart LED lighting solutions to meet the growing demand for energy efficient and economical lighting solutions.

General Electric Company, for instance, manufactures the Evolve LED Security Light E2SC. It also offers the Evolve LED CobraHead luminaire for street lighting.

Likewise, Syska LED manufactures the Rechargeable Touch Control Lamp and the Sparkle EML 1230L Rechargeable Emergency LED Lantern for indoor usage while it manufactures the Eco LED Street Light, the COB Series LED Lights and the LED SLG Street Light.

Regions and Countries Analyzed in the Report

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of LATAM)
• Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
• East Asia (China, Japan, South Korea)
• South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
• Oceania (Australia, New Zealand)
• Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Report Highlights

• The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
• The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
• The report also maps the qualitative impact of various market factors on market segments and geographies.