Street And Roadway Lighting Market Size
Steady growth expected in the street and roadway lighting market, driven by enhanced community demands, energy conservation initiatives and technological advancements.
What Is The Projected Market Size Of The Global Street And Roadway Lighting Market And Its Growth Rate?
The global street and roadway lighting market is experiencing strong growth and is predicted to grow steadily in the future.
• The market will grow from $10.5 billion in 2024 to $11.16 billion in 2025, a CAGR of 6.3%.
• Growth in the historic period has been spurred by community demands, energy conservation initiatives, advanced lighting design, transition to led technology, and government regulation.
• The market is expected to grow to $14.54 billion in 2029 at a CAGR of 6.8%.
• Future growth will be driven by smart city initiatives, environmental concerns and light pollution, IoT integration and sensors, urban infrastructure expansion, and demand for energy-efficient solutions.
What Is Driving The Growth In The Street And Roadway Lighting Market?
Growth in the street and roadway lighting market is being propelled by the rise in road transportation. As goods and passengers are increasingly transported on roads, the demand for street and roadway lighting increases to enhance roadside safety for drivers, riders and pedestrians. According to a report from the U.S. Department of transportation, in March 2022, travel on all highways and streets increased by 2.9% when compared to March 2021, totalling an estimated 277.4 billion vehicle miles being driven during the month. This surge in road transportation is a key driving force of the street and roadway lighting market.
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Who Are the Key Players Driving Street And Roadway Lighting Market Growth?
Key players in the street and roadway lighting market include:
• Cree Inc.
• Acuity Brands Inc.
• OSRAM Licht AG
• Current Lighting Solutions
• Syska LED Lights Pvt Ltd.
• Hubbell Inc.
• Zumbotel Group
• LED roadway lighting Ltd.
• ClaroLux Landscape Lighting
• Forus Electric Private Limited
• and others.
What Are The Key Trends In The Street And Roadway Lighting Market?
Trends in the street and roadway lighting market include:
• Advancements in LED technology
• Adoption of smart lighting controls
• Sustainability initiatives
• Enhancements in safety and security
• Development of adaptive lighting solutions
What Are The Segments Of The Global Street And Roadway Lighting Market?
The global street and roadway lighting market is segmented by:
• Offerings: Hardware, Software, Services
• Lighting Type: Conventional Lighting, Smart Lighting
• Light Source: LEDs, Fluorescent Lamps, High-Intensity Discharge Lamps
• End User Industry: Highways, Street, Roadways
Which Region Leads The Street And Roadway Lighting Market?
Asia-Pacific was the largest region in the street and roadway lighting market in 2024 and is expected to retain this position through the forecast period due to its rapid urban expansion and the widespread adoption of street and roadway lighting technologies.
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What Is Covered In The Street And Roadway Lighting Market Global Market Report?
– Market Size Analysis: Analyze the Street And Roadway Lighting Market size by key regions, countries, product types, and applications.
– Market Segmentation Analysis: Identify various subsegments within the Street And Roadway Lighting Market for effective categorization.
– Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
– Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
– Market Contribution: Evaluate contributions of different segments to the overall Street And Roadway Lighting Market growth.
– Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
– Industry Challenges: Analyze challenges and risks affecting the Street And Roadway Lighting Market.
– Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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