Dublin, Nov. 10, 2023 (GLOBE NEWSWIRE) -- The "Outdoor Lighting Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global outdoor lighting market is expected to grow from $12.44 billion in 2022 to $13.49 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The outdoor lighting market is expected to reach $17.97 billion in 2027 at a CAGR of 7.4%.
The outdoor lighting market research report is one of a series of new reports that provides outdoor lighting market statistics, including outdoor lighting industry global market size, regional shares, competitors with a outdoor lighting market share, detailed outdoor lighting market segments, market trends and opportunities, and any further data you may need to thrive in the outdoor lighting industry.
Outdoor lighting encompasses several types, including LED lights, high-intensity discharge (HID) lamps, fluorescent lights, and plasma lamps. LED lights, or light-emitting diode lights, function by passing an electrical current through a microchip to produce illumination.
These outdoor lighting solutions come complete with fixtures and controls tailored for various applications, ranging from street lighting, tunnel lights, highways, parking lots, parks, and stadiums to building exteriors and more. These lighting products are distributed through both offline and online channels.
The outdoor lighting market is experiencing significant growth, driven by the increasing adoption of energy-efficient lighting systems. Energy-efficient lighting involves the use of environmentally friendly lighting solutions, such as LEDs and CFL bulbs. Additionally, it incorporates the utilization of alternative energy sources like solar power, particularly suited for outdoor lighting, where solar panels can supply the needed energy.
A noteworthy example is the New York state government's initiative in September 2021 to replace 286,000 streetlights with energy-efficient LEDs, with plans to replace half a million more by 2025. Furthermore, in 2022, the U.S. government enacted the Inflation Reduction Acts of 2022, offering tax deductions to homeowners, builders, and businesses adopting energy-efficient lighting options. This trend underscores the growing adoption of energy-efficient lighting systems, propelling the outdoor lighting market.
Smart outdoor lighting represents another prominent trend gaining traction in the market. Major players in the industry are introducing advanced smart lighting products based on technologies like AirGlow outdoor lighting control, positioning themselves to maintain their market positions.
In terms of geographical distribution, North America emerged as the largest region in the outdoor lighting market in 2022, while Asia-Pacific is expected to witness the most rapid growth in the forecast period. The report covers countries including Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Major players in the outdoor lighting market are
- Syska LED Lights Company
- Hubbell Incorporated
- Eaton Corporation Plc
- Acuity Brands Inc.
- Virtual Extension Ltd.
- Dialght Pic
- General Electric Company
- Zumtobel Group AG
- Osram Licht AG
- Signify Holdings bv
- Xylem
- Stanley Electric Co. Ltd.
- Iwasaki Electric Co. Ltd.
- SMART Global Holdings Inc.
- Evluma
- Halco Lighting Technologies LLC
- Masco Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $13.49 billion |
| Forecasted Market Value (USD) by 2027 | $17.97 billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Outdoor Lighting Market Characteristics
3. Outdoor Lighting Market Trends And Strategies
4. Outdoor Lighting Market - Macro Economic Scenario
4.1. COVID-19 Impact On Outdoor Lighting Market
4.2. Ukraine-Russia War Impact On Outdoor Lighting Market
4.3. Impact Of High Inflation On Outdoor Lighting Market
5. Outdoor Lighting Market Size And Growth
5.1. Global Outdoor Lighting Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Outdoor Lighting Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Outdoor Lighting Market Segmentation
6.1. Global Outdoor Lighting Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- LED Lights
- High-Intensity Discharge (HID) Lamps
- Fluorescent Lights
- Plasma Lamps
6.2. Global Outdoor Lighting Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fixture
- Control
6.3. Global Outdoor Lighting Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Street Lighting
- Tunnel Lights
- Highways
- Parking Lots/Decoration
- Parks and Stadium
- Building Exteriors
- Other Applications
6.4. Global Outdoor Lighting Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Offline
- Online
7. Outdoor Lighting Market Regional And Country Analysis
7.1. Global Outdoor Lighting Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Outdoor Lighting Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/7qe943
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