Global Street and Roadway Lighting Market
Posted by jayashree on January 6th, 2020
Global Street and Roadway Lighting Market was valued US$ 3.8 Bn in 2017 and is expected to reach US$ 13.7 Bn by 2026, at CAGR of 17.39% during forecast period.
The market is driven by factors like modernization and development of infrastructure to transform cities into smart cities, need for energy-efficient lighting systems, and increasing demand for intelligent solutions for street lighting systems, growing penetration and decreasing the cost of LEDs, Also, growing awareness about energy savings among consumers and governments worldwide. The advance in of wireless technology for street lighting systems, energy efficiency in emerging economies, and IoT technology in smart street lighting are the major trends that are driving the growth of the market. The opportunities for Smart Street Lighting Market are the advancement of wireless communication technology for smart lighting systems, increasing number of smart city projects, development of IoT technology for smart lighting.
Furthermore, the major challenging factor of smart street lighting market is lack of universal open standards for aiding communication between all IOT devices. Also, the factors limiting the growth of market are the perception of higher costs of installation and limited awareness about payback periods, security and privacy issues in smart lighting systems that are the major limiting factors of smart street lighting market.
LED lights and luminaires hold the maximum market share in street and roadway lighting market during the forecast period, because of the increasing adoption of LED lights and luminaires across various outdoor lighting applications such as highways, roadways, bridges, and tunnels. LEDs are replacing HID lamps due to various advantages such as high efficiency, low maintenance cost, and high lumen output.
Europe is expected to hold the largest share of the street and roadway lighting market during the forecast period. This is due to stringent government regulations pertaining to lighting efficiency by European countries such as Germany, France, and Italy. For example, the EU project "Streetlight-Energy Performance Contracting (EPC)" is funded by the Intelligent Energy Europe Program and was launched in April 2014 with the objective of triggering the EPC through street lighting refurbishment projects. EPC is a contractual arrangement between a buyer (e.g., a municipality) and a supplier of an energy efficiency improvement measure, the so-called Energy Service Company (ESCO).
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Global Street and Roadway Lighting Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Street and Roadway Lighting Market.
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Scope of Global Street and Roadway Lighting Market:
Global Street and Roadway Lighting Market, By Lighting Type:
• Conventional Lighting
• Smart Lighting
o Communication Technology
Global Street and Roadway Lighting Market,By Light Source:
• Fluorescent Lights
• HID Lamps
Global Street and Roadway Lighting Market, By Offering:
o Lights and Bulbs
Global Street and Roadway Lighting Market, By Application:
• Residential Street Lighting
• Highways and Interchanges
• Railway Crossings
• Housing Complexes and Warehouses
Global Street and Roadway Lighting Market, By Region:
• North America
• South America
• Middle East & Africa
Key Players Operated in Market Include:
• Schneider Electric
• Cree, Inc.
• General Electric Company (GE)
• Eaton Corporation PLC
• OsramLicht AG
• Acuity Brands, Inc.
• Hubbell Incorporated
• Kingsun Optoelectronic Co., Ltd.
• Thorn Lighting
• LED Roadway Lighting Ltd.
• Syska LED
• Honeywell Lighting
• Bridgelux, Inc.
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About the Authorjayashree
Joined: June 25th, 2019
Articles Posted: 65
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