San Francisco, California, May 25, 2017: The need to use energy more efficiently has led to the advent of technologically advanced lighting systems that consume considerably reduced amount of energy in comparison to traditional systems. Several governments across the World recognize the necessity to conserve energy too, and hence are taking steps such as using LED lights and luminaries to bright-up their streets as well as roadways. This advent of LED and collective efforts from governments are the primary driver of the global street and roadway lighting market, according to a recent study by TMR Research.
The report, titled “Street and Roadway Lighting Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers in-depth analysis of the market in its current scenario and estimates the future scenario until 2025. Some of the targeted audiences of this report on the global roadway and street lighting market are technology providers and investors, construction firms, research organizations, and government organizations. The report also profiles a number of leading vendors operating in this market in order to explore the competitive landscape and the opportunities for new entrants.
The report observes that the prices of LED has declined significantly in the past couple of years, and the awareness pertaining to how low maintenance these lighting products are has grown. LED lights are not only durable but also offer enhanced lighting effects than conventional sources such as high-pressure sodium, fluorescent, and mercury vapor lamps. This two factors are also expected to positively influence the demand in the global street and roadway lighting market.
Performance monitoring with smart lighting, efficiency during varied weather conditions, ease in traffic control, and escalating need to reduce carbon emission are some of the other factors augmenting the demand in the global market for street and roadway lighting market. Several leading vendors are also offering customized after-sales services, which is further favoring the market in positive direction.
Geographically, Europe currently is the most lucrative region in the global street and roadway lighting market, which is a reflection of strict government regulations for energy conservation in countries such as France, Germany, and Italy. North America is another profitable region for the vendors operating in this market, followed by Asia Pacific.
Some of the leading companies in the global street and roadway lighting market are General Electric Company, Eaton Corp Plc., OSRAM Licht AG, Koninklijke Philips N.V., Forus Electric Private Limited, Lighting Reality Ltd., Shenzhen HXD Lighting Co., Ltd., and MMA Lighting Consultancy Ltd. Continuous research and development of new products, dependable customer after-sales service, and aggressive marketing are some of the key strategies of these companies to hold their position in this fragmented market wherein entrance of new players is easy.