The global street lightning market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period. Increasing urbanization, investments and rising use of smart street lights is increasing the global street lightning market. According to India Brand Equity Foundation (IBEF), urban areas are expected to house 40% of India’s population and contribute 75% to India’s GDP by 2030. In 2020, the total allocated investments for the ‘Smart City Mission’ was around $28.31 billion. Of the total investments, 5,331 projects worth $24.31 billion, 86% of the total, have been tendered as of 2020. Further 85 smart water and 46 smart solar projects have been completed to make the cities more liveable and sustainable. 62 urban space projects have been completed, with an importance on city parks such as river/lake fronts, parks & playgrounds and tourism attractions, and 82 projects are in progress with investments worth more than $ 1.10 billion. All these developments need street lightning as well, which will boost the street lightning market during the forecast period.
With the expanding population around the world, an increase in the number of people living in urban areas, is increasing which is 81% of the total population that is living in cities is one of the major drivers for the adoption of smart and intelligent solutions such as smart street lights. Today, cities are working toward adopting lighting solutions that are more efficient, longer lasting and closer in quality to natural light. Urban cities are adapting LED roadway lighting technology that can reduce the cities carbon footprint and provide a more even, natural light for drivers and pedestrians.
According to The White House, at the 2021 G7 Summit, President Biden and G7 leaders announced their intent to develop a values-driven, high-impact, and transparent infrastructure partnership to meet the enormous infrastructure needs of low- and middle-income countries and support the US and its allies’ for economic and national security interests. Together with G7 partners, Biden aim to mobilize $600 billion by 2027 in global infrastructure investments. This will creates the demand for street lights in various countries due to the development.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
Segment Covered-
- By Light Source
- By Wattage Type
- By End-User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including Acuity Brands, Inc., Cree, Inc., General Electric Company, Koninklijke Philips N.V., OSRAM Licht AG, and others.
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
A full Report of Street lightning Market is Available @ https://www.omrglobal.com/industry-reports/street-lightning-market
Street Lightning Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Dimonoff Inc.
- Eaton Corp Plc
- Hubbell Incorporated
- K-LITE
- Legrand
- Panasonic holding Corp.
- Schneider Electric
- Signify Holding
- Toshiba Lighting & Technology Corp.
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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