Street and Roadway Lighting Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.66 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Street and Roadway Lighting Market Analysis
The Street And Roadway Lighting Market is expected to register a CAGR of 5.66% during the forecast period.
The increasing complexities of transportation infrastructure have increased the need for enhanced illumination on streets and roadways to ensure smooth traffic flow and people's safety on the streets while remaining cost-effective.
- Street and roadway lighting is essential for providing an energy-efficient lighting system that is suitable as per the standard design criteria for roadway lighting. It provides adequate and uniform lighting on the roads for both motorists' and pedestrians' safety. The market for street and roadway lighting is accelerating due to the growing demand for intelligent solutions in street lighting systems.
- Roadway lighting is regarded as an essential safety feature for busy streets and highways where clear visibility is critical. According to CED Engineering, adequate lighting can reduce nighttime collisions by about 30 percent, enhancing the safety of drivers, riders, and pedestrians.
- Street lighting is crucial because it increases pedestrian safety and visibility. Owing to their lower energy consumption compared to conventional street lamps, LED street lighting solutions can help cities become more environmentally friendly by reducing their carbon footprint. In order to reduce costs, conserve energy, and improve the adaptability, flexibility, and efficiency of public lighting infrastructure, such lighting systems can also be integrated with smart technologies. As a result, cities all over are switching out older, inefficient fixtures with LEDs.
- Additionally, in the upcoming years, the street and roadway lighting market may grow due to improvements in energy efficiency in developing nations and wireless technology for street lighting systems. However, the need for widely accepted open standards and the rapidly rising costs of product testing could pose additional obstacles to the market's expansion for street and roadway lighting in the near future. In addition to this, the unavailability of a single networking option that works best for all smart street lights and is suitable for a city to adopt is also a significant challenge.
Street and Roadway Lighting Market Trends
LED Lights Segment to Exhibit Significant Growth
- LED lights provide consistent light by improving overall visibility and providing added security for street and highway locations. They can also be paired with photocells, motion sensors, and timers to offer a lighting control system for efficient usage.
- LED lighting is becoming increasingly common to reap the benefits of energy efficiency in the area. According to the U.S. Department of Energy, an Energy Star-certified LED light bulb can utilize up to 90 percent less energy compared to traditional incandescent bulbs while saving more than USD 80 in power costs throughout its lifetime. Due to government regulations supporting energy-efficient lighting, many businesses in the U.S. are implementing LED lighting.
- The International Energy Agency (IEA) estimated that road lighting accounts for 4 percent of total global light, and a switch to LED lights can save an average of 50 percent in energy costs, which results in global savings of USD 160 billion in energy costs, and 555 million tons of CO2. Further, according to IEA, the LED penetration rate is expected to be 87.4 percent of the global lighting market by 2030.
- Moreover, government initiatives are fueling market growth, as many governments worldwide are structuring regulations for encouraging LED adoption. For instance, in India, the government's industry, such as SLNP (Street Light National Program), an initiative to replace 21 million streetlights with LED, further contributes to the market growth.
- Additionally, LED lighting applications provide color across the entire spectrum and thus help improve the aesthetics of outdoor spaces, bridges, roads, and buildings. For instance, in August 2022, the Government of Pittsburgh installed LED lights on three of the city's sister bridges. The installation of 601,440 colored LED lights across the three bridges that connect Downtown Pittsburgh to the North Shore will begin in September with the Rachel Carson Bridge. The project is anticipated to be finished by the end of 2023.
North America to Witness the Significant Market Share
- The rise in smart city initiatives will cause North America to dominate the street and roadway lighting market. Additionally, expanding government initiatives to adopt LED technology for highway and roadway applications will support the growth of the region's street and roadway lighting market over the forecast period.
- One of the key factors influencing the area's lighting market is investments in connected streetlights. Street and road lighting initiatives have already benefited numerous communities across the region. For instance, in September 2022, with the US government's historic USD 1.2 trillion Infrastructure Investment and Jobs Act, Signify and Upciti took the opportunity to aid cities and utilities across the United States and Canada get added value, well beyond illumination from their lighting infrastructure.
- 12,000 streetlights in the City of Laredo were converted to LED lamps as of March 2023, making Laredo the first City in the state of Texas to accomplish such a conversion, according to officials. Additionally, Dallas city officials discussed significantly switching to LED streetlights in March 2022. The City owns about 15,000 streetlights in Dallas, nearly half of which are LEDs.
- The demand for LED lights is expected to increase in the United States between 2020 and 2035, particularly for outdoor uses, according to the Department of Energy. By 2025, 93 percent of outdoor lighting installations are expected to be LED lighting, making it the most popular type across all industries, primarily for connected street lights.
- Furthermore, to make the City's streetlights more energy-efficient, the Alabama City Council approved a USD 4.7 million cost-saving agreement with NORESCO Energy Services in February 2022. Work started on installing LED lights all over the City. The Town of Blountsville and Alabama Power also signed a new LED streetlights contract in April 2022. The price will likely be reduced because the town's expenses will be dispersed over three years. The City will save an estimated USD 128 per month with the power savings strategy. These developments are anticipated to increase the region's demand for LED lighting.
Street and Roadway Lighting Industry Overview
The street and roadway lighting market is fragmented and highly competitive owing to the presence of many regional and international players across the globe. Some of the significant players are Signify, OSRAM, and Cree, among others.
In June 2023, The Government of India approved the installation of 90,000 smart street lights on all the roads maintained by the Public Works Department (PWD) in Delhi to eliminate dark spots and bolster women's security. The government stressed a robust central monitoring system for ensuring the uninterrupted functioning of the lights.
In February 2023, The Monroe City Council announced the approval of a motion to submit a grant request to the Southeast Michigan Council of Governments (SEMCOG) to convert street lights around the city to light-emitting diode (LED) lamps. After approval, the grant is expected to cover up to 80 percent of the capital costs the city would incur in the conversion.
Street and Roadway Lighting Market Leaders
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Cree Inc. (Wolfspeed, Inc.)
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Signify Holding
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OSRAM Gmbh
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GE Current
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DCD Technologies ME FZCO
*Disclaimer: Major Players sorted in no particular order
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Street and Roadway Lighting Market News
- July 2023: Crescent Lighting got the patent for two of their innovations, the RAW LED Street Light and the newly launched RAW LED Flood Light. The RAW LED Street Light- CRS70 has been claimed to be the first of its kind in India and utilizes PC (polycarbonate) material for delivering exceptional performance. It is expected to set up a new standard in energy efficiency and longevity, paving the way for a brighter and more sustainable future.
- June 2023: Streetleaf announced the launch of its new product line of solar streetlights. These lights are designed to provide reliable, cost-effective, and environmentally friendly illumination for urban and rural areas, and they do not require electrical wiring, making them cost-effective compared to the grid. They can be installed in less than 15 minutes.
Street and Roadway Lighting Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 on the Industry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased Demand for Intelligent Solutions in Street Lighting Systems
5.1.2 Increasing Adoption of Smart City Infrastructure
5.2 Market Restraints
5.2.1 High Installation Cost of Smart Lighting
6. MARKET SEGMENTATION
6.1 Lighting Type
6.1.1 Conventional Lighting
6.1.2 Smart Lighting
6.2 Light Source
6.2.1 LEDs
6.2.2 Fluorescent Lamps
6.2.3 High-intensity Discharge Lamps
6.3 Offering
6.3.1 Hardware
6.3.1.1 Lights and Bulbs
6.3.1.2 Luminaires
6.3.1.3 Control Systems
6.3.2 Software and Services
6.4 Power
6.4.1 Below 50W
6.4.2 Between 50W - 150W
6.4.3 More Than 150W
6.5 Application
6.5.1 Highways
6.5.2 Street and Roadways
6.6 Geography***
6.6.1 North America
6.6.2 Europe
6.6.3 Asia
6.6.4 Latin America
6.6.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 GE Current
7.1.1 Cree Inc. (Wolfspeed Inc.)
7.1.2 Signify Holding
7.1.3 OSRAM Licht AG
7.1.4 DCD Technologies ME FZCO
7.1.5 Hubbell Inc
7.1.6 Zumbotel Group (Thorn Lighting)
7.1.7 LED roadway lighting Ltd
7.1.8 Acuity Brands, Inc.
7.1.9 Syska LED Lights Pvt. Ltd.
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Street and Roadway Lighting Industry Segmentation
Street and road lighting plays a crucial role in the safety and security of the streets and public places. The developers are making huge investments in smart cities, and government incentives are given for outdoor lighting applications such as freeways, bridges, roadways, tunnels, and in-city street lights. To reduce light pollution and energy consumption, cities have started replacing their sodium streetlights with energy Light Emitting Diodes (LEDs) based lights.
The street and roadway lighting market is segmented by lighting type (conventional and smart lighting), light source (LEDs, fluorescent lamps, and high-intensity discharge lamps), offering (hardware (lights and bulbs, luminaries, control systems), software), power (below 50W, between 50-150W, more than 150W), application (highways, street and roadways), and geography (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| Lighting Type | |
| Conventional Lighting | |
| Smart Lighting |
| Light Source | |
| LEDs | |
| Fluorescent Lamps | |
| High-intensity Discharge Lamps |
| Offering | |||||
| |||||
| Software and Services |
| Power | |
| Below 50W | |
| Between 50W - 150W | |
| More Than 150W |
| Application | |
| Highways | |
| Street and Roadways |
| Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Latin America | |
| Middle East and Africa |
Street and Roadway Lighting Market Research FAQs
What is the current Street and Roadway Lighting Market size?
The Street and Roadway Lighting Market is projected to register a CAGR of 5.66% during the forecast period (2024-2029)
Who are the key players in Street and Roadway Lighting Market?
Cree Inc. (Wolfspeed, Inc.), Signify Holding, OSRAM Gmbh, GE Current and DCD Technologies ME FZCO are the major companies operating in the Street and Roadway Lighting Market.
Which is the fastest growing region in Street and Roadway Lighting Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Street and Roadway Lighting Market?
In 2024, the Asia Pacific accounts for the largest market share in Street and Roadway Lighting Market.
What years does this Street and Roadway Lighting Market cover?
The report covers the Street and Roadway Lighting Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Street and Roadway Lighting Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Street and Roadway Lighting Industry Report
Statistics for the 2024 Street and Roadway Lighting market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Street and Roadway Lighting analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
