Global Street and Roadway Lighting Market Supported by Growing Urbanization

San Francisco, California, August 16, 2018: TMR Research’s latest report, titled, “Street and Roadway Lighting Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” finds that market has been on a steady growth trajectory because of the rise in urbanization. Streets and roads need proper lighting and significant sums are also needed to maintain the installed lights as well. Going forward, the global street and roadway lighting market is set to rise even further with the thrust on smart city projects.

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The report states that with depleting natural resources, namely fossil fuels, which mainly find usage in production of electricity, there is a pressing need to improve energy efficiency. This has been stoking the global street and roadway lighting market majorly. A noticeable trend in the market is the smart lighting projects replacing the conventional ones used so far. Those use sensors, wi-fi, and data analytics to gauge the proper functioning and also predict possible glitches in functioning.

Currently, LED lights and luminaries are seeing maximum uptake in the global street and roadway lighting market. Their USPs include their durability, energy efficiency, and lesser cost of maintenance. Sensing an opportunity in it, many players have jumped into manufacture of LEDs thereby bringing down their prices.

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Geographically, Europe is currently the leading region in the global street and roadway lighting market which is expected to retain its position in the next couple of years as well. The market in the region has mainly progressed on account of the stringent rules pertaining to environment protection, particularly in nations of Italy, Germany, and France.

Some of the key players in the global street and roadway lighting market that have been profiled in the report are Eaton Corp Plc., OSRAM Licht AG, General Electric Company, Koninklijke Philips N.V., ClaroLux Landscape Lighting, Acuity Brands, Inc., Cree, Inc., and Hubbell Inc.

Street and Roadway Lighting Market Higher Progression Rate during 2017 – 2025

Global Street and Roadway Lighting Market: Overview

Street and roadway lighting is among the most essential aspects of an urban area, and a considerable chunk of budget is allotted to the maintenance of these public service lights. With depleting natural resources, the need to improve the efficiency of every energy consuming public service equipment is paramount. Together, these two factors have given birth to the concept of smart street and roadway lighting wherein several benefits are offered both to the consumers as well as the vendor. With mushrooming smart cities across the world, smart lighting is quickly replacing conventional lighting methods and consequently, the demand in the global street and roadway lighting market is expected to expand at a robust CAGR during the forecast period of 2017 to 2025.

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Global Street and Roadway Lighting Market: Key Trends

LED lights and luminaries have gained exponential popularity in the recent past for the quality of light they offer, their longevity, energy efficiency, and low maintenance cost. This popularity has lured several manufacturers to indulge into the market and in turn, the costs of LED lights have decreased substantially. This factor has encouraged a shift from conventional lighting to the adoption of LED lights and luminaries for street and roadway lighting, and proved a boon for the market for the same. Smart lighting also helps in monitoring performance activities such as weather conditions and traffic control. Global efforts to reduce carbon emissions is another factor positively reflecting over this market.

Moreover, several key players in this market such as Honeywell, Philips, and Osram are offering customized products, with greater emphasis on efficiency via latest technology and quality of light, besides improved after-sales services. Introduction of new technology such as sensor based street light and wireless handling and monitoring is also driving the global market for street and roadway lighting. However, high installation cost is one factor that is challenging the market from attaining its full potential during the forecast period.

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Global Street and Roadway Lighting Market: Market Potential

Rapid urbanization across the world and the development of several smart cities augur very well for the players involved in this market, and although reasonable finance and resources are required to make a presence in the market, long-term benefits assured. Heavy investments being made by the developers of smart cities and government incentives are being offered for outdoor lighting applications such as freeways, bridges, roadways, tunnels, and in-city street lights.

Global Street and Roadway Lighting Market: Regional Outlook

Europe currently is the most lucrative region for the global street and roadway lighting market and is expected to maintain the demand during the forecast period. This is a reflection of stringent government regulations such as energy performance contracting (EPC) in the countries such as Germany, Italy, and France. North America is another profitable regional market for street and roadway lighting. Development of smart cities in several emerging economies is also expected to increment the demand from the region of Asia Pacific, which resides vast populations.

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Global Street and Roadway Lighting Market: Competitive Analysis

OSRAM Licht AG, Eaton Corp Plc., Koninklijke Philips N.V., General Electric Company, ClaroLux Landscape Lighting, Cree, Inc., Acuity Brands, Inc., and Hubbell Inc., Lighting Reality Ltd., Forus Electric Private Limited, MMA Lighting Consultancy Ltd., and Shenzhen HXD Lighting Co., Ltd. are some of the leading companies currently operating in the global street and roadway lighting market. Research and development of advancement products and improved after-sales service are some of the common strategies adopted by these players to maintain their stronghold over the market.

Street and Roadways Using LED lighting As Prices Drop

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.