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2020 Outdoor Lighting Market Report: The emergence of smart outdoor lighting and the transition from

2021-05-27 16:49:16

Dublin, December 3, 2020/Xinhua-PRNewswire/-The "Outdoor Lighting Market Research Report: Through Lighting Types, Components, Applications, Distribution Channels-Industry Development Trends and Demand Forecasts to 2030" report has been added Go to ResearchAndMarkets.com products.

 

The global outdoor lighting market received a valuation of $ 10.7 billion in 2019. In addition, the market is expected to show a compound annual growth rate of 7.3% from 2020 to 2030 and generate revenue of $23.8 billion by 2030.

 

LED lamps, plasma lamps, fluorescent lamps, and high intensity discharge (HID) lamps are the main types of equipment used for outdoor lighting. Among them, the utilization rate of LED outdoor lighting system is the highest in the past.

 

In many countries, rising population levels and people's increasing spending power have led to a sharp increase in car sales, which in turn has increased vehicle traffic worldwide. For example, “26.9 million commercial vehicles were sold globally in 2019.” In addition, “the total sales of these vehicles increased by 2.2% in the same year”. The significant growth of road traffic has led the governments of many countries including Germany, India, the United States and China to make huge investments in the development of road infrastructure.

 

One of the biggest examples of such a large-scale road infrastructure development project is that "nearly 328 billion U.S. dollars transported by the Chinese government in the infrastructure construction project, January 2019-September 2019, according to the Ministry of Transport".

 

In addition to this, the government’s efforts to increase energy conservation and emission reduction in several countries have also promoted the demand for energy-saving outdoor lighting. For example, "The Indian government has adopted its national LED plan called UJALA (which has been affordable by the whole people). Unnat Jyoti’s LED lighting system replaced nearly 77 billion traditional light bulbs)”.

 

In addition to road development projects (including the development of highways and streets), the governments of many countries have also focused on various other types of infrastructure construction, such as the construction and modernization of tunnels, parking lots and stadiums. However, in the next few years, the demand for outdoor lighting equipment is expected to be the highest among highways. This is attributable to the heavy investment in road construction projects by private and public road development organizations. In addition, the development of smart cities will further promote the demand for smart outdoor lighting systems in the future.

 

On a global scale, the utilization rate of outdoor lighting equipment is considered to be the highest in the Asia-Pacific region (Asia-Pacific region). In addition, "the outdoor lighting market will show the fastest growth in the region in the next few years." This is because there are major energy-saving outdoor lighting system manufacturing companies, exporters and distributors in the region, and the urbanization level of various countries in the Asia-Pacific region continues to increase, infrastructure development activities and the development of smart cities.

 

Therefore, it can be said with certainty that in the next few years, the sales of outdoor lighting equipment will increase significantly all over the world, mainly due to the increase in road and highway construction activities and the surrounding countries/regions on energy-saving lighting solutions. Due to increased demand.

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