The outdoor lighting market is anticipated to expand its roots at a steady CAGR of 6.7% between 2023 and 2033. The market is anticipated to cross a market share of US$ 25.67 billion by 2033, while it is likely to be valued at US$ 12.57 billion in 2023.
- New interior and exterior designs in different infrastructures and enhanced security and safety propositions delivered by outdoor lighting solutions are flourishing the market growth.
- Increased per capita income, beautification & requirement for sustainable and efficient lighting solutions have given birth to advanced outdoor lighting solutions. These solutions involve waterproof outdoor wall lights, LED outdoor lighting solutions, etc.
- Restoration of renovation and maintenance projects and government projects related to illuminating civic and government structures garners market growth. The new online sales channel also thrives in demand for outdoor lighting solutions.
- Different real estate businesses are pre-installing outdoor lighting solutions integrated with smart technology. This technology involves sensory technology and the internet of things (IoT).
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Key Points
- The United States market leads the outdoor lighting market in terms of sales volume in North America. The North American market held a market share of 35.8% in 2022. The market growth is attributed to increased urbanization, advanced lighting solutions, and more corporate buildings.
- The Japanese outdoor lighting market is another significant market from the Asia Pacific region. Regional growth is attributed to rapid digitization and industrialization. The higher residential construction activities are propelling regional growth.
- The Chinese outdoor lighting market is anticipated to thrive at a healthy CAGR during the forecast period. The growth is owed to rising awareness around efficient and sustainable lighting solutions. The restoration of industries and corporate structures also fuels growth.
- By distribution channel, the offline segment held the major share of 67% in 2022. This is due to the easy availability, better after-sales services, and higher reliability. While the offline segment holds the major share, the online segment is anticipated to thrive at a leading CAGR attributed to the increased popularity of e-commerce platforms.
Competitive Landscape
The key vendors work on producing outdoor lighting solutions with longer shelf life, reliable quality, and efficient energy consumption. Furthermore, integrating smart technology like IoT with lighting solutions is also the USP for some brands. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel. The key players in the market are Syska LED, Cree Inc., Virtual Extension, Dialght Plc, ADM, General Electric Company, Takiyo Japan, Zumtobel Group AG, Hubbell Incorporated, Eaton Corporation Plc, Osram Licht AG, Signify Holdings Cree Inc.
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Recent Market Developments
- Smart Global Holding has acquired the LED product business of Cree Inc. The company expects to extend its distribution channels and sales web through this deal.
- The White Teak Company has introduced new garden lights. It is part of a long-range of designs and pattern collections. The product’s USP is its easy mobility and flexibility.
Outdoor Lighting Market: Segmentation
By Technology:
- Control Outdoor Lighting
- Fixture Outdoor Lighting
By Type of Lighting:
- LED Lights
- Plasma Lamps
- High-Intensity Discharge (HID) Lamps
- Fluorescent Lights
By Application:
- Street Lighting
- Tunnel Lights
- Highways
- Others
By Distribution Channel:
- Retail
- Commercial
Key Regions Covered
- North America
- UNITED STATES
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United States
- France
- Spain
- Russia
- Rest of Europe
- Japan
- APEJ
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of APEJ
- MEA
- GCC Countries
- Israel
- South Africa
- Rest of MEA
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