Outdoor Lighting Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report
Global outdoor lighting market is expected to reach $14.2 billion by 2023. Growing adoption of energy-saving and economical lighting solutions and increasing government initiatives toward energy conservation are the major factors contributing to the growth of the market.
Based on lighting type, the outdoor lighting market has been classified into high-intensity discharge (HID) lamps, light-emitting diode (LED) lights, fluorescent lights, and plasma lamps. HID lamps dominated the market in 2017, accounting for more than 58% revenue share.
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The outdoor lighting market has also been classified into fixture and control outdoor lighting components. The fixture component accounted for more than 62% revenue share in the market in 2017.
During the forecast period, the control component is expected to witness higher growth in the market, on account of the increasing number of construction projects related to the development of highways, stadiums, and smart cities, across the world.
On the basis of application, the outdoor lighting market has been categorized into streets, highways, parking lots, stadiums, tunnels, and others, where “others” include gardens, parks, business parks, and farms.
Based on distribution channel, the outdoor lighting market has been classified into commercial and retail channels. In 2017, the market revenue from commercial channels was higher as compared to that from retail channels, as outdoor lights were majorly sold in bulk, based on their utility, by companies or specialist distributors.
Major players in the outdoor lighting market are focusing on improving the efficiency of smart LED lighting solutions to meet the growing demand for energy-efficient and economical outdoor lighting solutions.
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Some of the key players operating in the market are General Electric, Osram Light AG, Hubbell Incorporated, Cree Inc., Eaton Corporation plc, Philips Lighting Holding B.V., Syska LED, Virtual Extension, Dialight plc, and Zumtobel Group AG.
Global Outdoor Lighting Market Segmentation
Market Segmentation by Lighting Type
- High Intensity Discharge (HID) Lamps
- Light Emitting Diode (LED) Lights
- Fluorescent Lights
- Plasma Lamps
Market Segmentation by Component
- Fixture
- Control
Market Segmentation by Application
- Street Lighting
- Highways
- Parking Lots
- Stadiums
- Tunnel Lights
- Others (Gardens, parks, business parks, agriculture)
