Street And Roadway Lighting Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 20, 2024 /EINPresswire.com/ -- The street and roadway lighting market has experienced robust growth in recent years, expanding from $9.97 billion in 2023 to $10.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to community demands and feedback, energy conservation initiative, advancements in lighting design, transition to led technology, government regulations.
What Is The Estimated Market Size Of The Global Street And Roadway Lighting Market And Its Annual Growth Rate?
The street and roadway lighting market is projected to continue its strong growth, reaching $13.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to adoption of smart city initiatives, environmental concerns and light pollution, integration with iot and sensors, expansion of urban infrastructure, demand for energy-efficient solutions.
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Growth Driver Of The Street And Roadway Lighting MarketIncreased road transportation is expected to propel the street and roadway lighting market going forward. Road transport refers to the movement of goods and passengers from one location to another on roads. Increasing road transportation will raise the demand for street and roadway lighting to increase the road safety of drivers, riders and pedestrians by improving visibility.
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Which Market Players Are Driving the 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., Signify Holding, DCD Technologies ME FZCO, Hubbell Inc., Zumbotel Group, LED roadway lighting Ltd., ClaroLux Landscape Lighting, Forus Electric Private Limited.
What Are the Emerging Trends Shaping the Street And Roadway Lighting Market Overview?Product innovations are a key trend gaining popularity in the street and roadway lighting market. Major companies operating in the street and roadway lighting market are focused on developing new technological solutions to strengthen their position in the market.
How Is The Global Street And Roadway Lighting Market Segmented?1) By Offerings: Hardware, Software, Services2) By Lighting Type: Conventional Lighting, Smart Lighting3) By Light Source: LEDs, Fluorescent Lamps, High-Intensity Discharge Lamps4) By End User Industry: Highways, Street, Roadways
Geographical Insights: Asia-Pacific Leading The Street And Roadway Lighting MarketAsia-Pacific was the largest region in the street and roadway lighting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the street and roadway lighting market report during the forecast period. The regions covered in the street and roadway lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Street And Roadway Lighting Market DefinitionStreet and roadway lighting refers to the illumination systems along highways that generally help in enhancing safety by making roadside hazards more visible and by lessening the impact of glare from other light sources. They are used to improve the safety of vehicles and pedestrians walking on the roadway or street.
Street And Roadway Lighting Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Macroeconomic factors affecting the market in the short and long run• Analysis of the macro and micro economic factors that have affected the market in the past five years• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global street and roadway lighting market report covering trends, opportunities, strategies, and moreThe Street And Roadway Lighting Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on street and roadway lighting market size, street and roadway lighting market drivers and trends, street and roadway lighting market major players, street and roadway lighting competitors' revenues, street and roadway lighting market positioning, and street and roadway lighting market growth across geographies. The street and roadway lighting market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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