Street lightning market is anticipated to grow at a significant CAGR of 6.4% during the forecast period. The demand for use of smart street lighting for energy conservation and high efficiency is boosting the market. Energy efficient technologies and design can cut street lighting costs dramatically often by 25-60%, these savings can eliminate or reduce the need for new power generating plants and provide the capital for alternative energy solutions for populations in remote areas. According to World Bank data the global population continues to grow at 1.1% per year and people are migrating to urban areas, so smarter land and resource use is becoming a significant area of research which fuels the use of smart street lightning across the globe. Information collection through innovative technologies such as Smart Street Lighting are important sources of data and insights for Smart Cities to improve asset management and energy conservation which is growing the demand for smart street lighting across the globe. Smart street lighting is a cost-effective solution which compromises of advance wireless communication techniques, low cost LED lights and additional sensors which controls the intensity of light. This new system provides cost and energy savings over the conventional lightning. The smart street lights can control remotely the output of individual streetlights, detect faults, monitor energy performance and, when coupled with sensors, even facilitate real time alerts for city-wide problems like traffic flow, parking spaces, electrical outages, and possible accidents and others. On the other hand, the traditional lights consume high power, have a shorter lifetime, and high replacement cost, majorly hindering the street lighting market. These factors are creating demand for street lights in the forecast period as smart street lighting uses a management system which enables streetlight luminaires that are connected to be remotely controlled and monitored through a centralised online application which conserves energy and is more efficient.
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The Asia-Pacific region is expected to hold the considerable share in the global street lightning market during the forecast period. The Asia-Pacific street lighting market is growing due to the high manufacturing and distribution of LED-based lighting systems and the presence of major exporters of energy-efficient light solutions. Further, several governments in the Asia-Pacific region have implemented energy-saving policies, which include the promotion of LED bulbs over the traditional incandescent bulbs. According to Governmnet of India, Ministry of Power, in 2020 the Government of India’s zero subsidy Unnat Jyoti by affordable LEDs for all (UJALA) and LED Street Lighting National Programme (SLNP), marked its fifth anniversary. SLNP is the world’s largest streetlight replacement programme and UJALA is the world’s largest domestic lighting project. Under the SLNP programme, over 1.03 crore smart LED streetlights have been installed till date, enabling an estimated energy savings of 6.97 billion kWh per year with an avoided peak demand of 1,161 MW and an estimated greenhouse gas (GHG) emission reduction of 4.80 million t CO2 annually. LED streetlights have been installed in various states across the country. Through the UJALA initiative, over 36.13 crore LED bulbs have been distributed across India. This has resulted in estimated energy savings of 46.92 billion kWh per year, avoided peak demand of 9,394 MW, and an estimated GHG emission reduction of 38 million t CO2 annually. Further, Energy Efficiency Services Limited (EESL) has an ambitious plan in this portfolio for next 4-5 years where it intends to bring investment by 2024 by covering entire rural India. It is expected that more than 30 million LED streetlights would be retrofitted/installed by EESL.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Street Lightning Market Report Segment
By Light Source
- LEDs
- Fluorescent Lights
- HID Lamps
By Wattage Type
- Less than 50W
- Between 50W and 150W
- More than 150W
By End-Use
- Highways
- Street and Roadways
- Others
Global Street Lightning Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global street lightning market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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