Outdoor Lighting Market in Asia-Pacific Is Anticipated To Witness the Fastest Growth during the Forecast 2024
The lighting sources that are incorporated outdoor are known as outdoor lighting market. These are the lights on the bridges, gardens, streets, parks, tunnels and stadiums highways, bridges, parking lots. These lights are further classified as the type of lights such as High-Intensity Discharge Lamps (HID), Light-Emitting Diode Lamps (LED) and plasma lamps. These are the products used for the conservation of energy, developing efficiency and saving huge energy cost thereby driving the growth of the outdoor lighting market globally.
Light uses energy that is generated by consumption of limited resources. With the increase in the utilization of energy efficient resources and limited supply of energy that helps in developing cost efficiencies is the ley trend observed in the growth of global outdoor lighting market. In order to save high costs there is introduction of the smart outdoor lighting that includes HID and LED which provide more light while consuming very low energy, saving the cost and being more effective. It is also easy to control the lighting infrastructure and streets, stadiums, gardens and parks are all being fitted with such lights.
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Increase in acceptance of energy-efficient and economical products, increasing awareness of conservation of energy and introduction of lighting technology such as LEDs and HIDs that allow heavy energy conservation and provide much more efficiency and effectiveness are the key factors driving the growth of outdoor lighting market across the globe. LED lights offer several advantages over incandescent, fluorescent, and even high-pressure sodium lights, such as higher efficiency, lower maintenance costs and intelligent control. These lights thus lead to savings, in terms of both energy and operational costs. With the increasing awareness, the government is also promoting the implementation of outdoor lighting solutions in public places. Furthermore, developing lighting infrastructure using LEDs for efficient and effective lighting, growing government initiatives toward energy conservation are key factors driving the growth of the outdoor lighting market worldwide.
Geographically, North America held to be the largest outdoor lighting market and will continue to dominate throughout the forecast period due to the introduction of various regulations over energy efficient product by government authorities in this region. Moreover, increasing disposable income will help to drive demand for outdoor lighting for architectural application in countries such as the U.S. thereby strengthening the growth of outdoor lighting market in this region. Moreover, Asia-Pacific is anticipated to witness the fastest growth during the forecast period since this region is witnessing various infrastructural developments such as road construction. Furthermore, upcoming development projects, flourishing construction industry in developing countries such as China, India, and Indonesia is expected to create massive demand for LED lighting for both residential as well as outdoor application.
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The prominent players in the global outdoor lighting market include Philips Lighting Holdings, General Energy Connections, Osram Licht, Hubbell Incorporated, Cree Inc, Eaton Corporation, Syska LED, Virtual Extension, Dialight Plc, and Zumtobel Group AG.
Outdoor Lighting Market by Region
- Rest of Europe
- Rest of Asia-Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- Saudi Arabia
- Rest of MEA