The Outdoor LED Lighting Market is estimated at USD 14 billion by 2024. The market valuation is expected to be USD 27 billion by 2034, registering a moderate CAGR of 6.8%.
The market encompasses the manufacturing, distributing, and installing lighting fixtures designed for exterior applications. These fixtures utilize LED technology, offering numerous benefits such as energy efficiency, long lifespan, and durability.
Outdoor LED lighting finds extensive use in various settings, including streets, highways, parking lots, landscapes, and architectural lighting. Key market growth drivers include the increasing demand for energy-efficient lighting solutions, government initiatives promoting LED adoption, and the growing trend toward smart city infrastructure.
Advancements in LED technology, such as improved brightness and color rendering, contribute to market expansion. Market players focus on product innovation, offering various fixtures with features like motion sensors, dimming capabilities, and wireless connectivity.
Key Market Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Market Estimated Size in 2024 | USD 14 billion |
| Projected Market Size in 2034 | USD 27 billion |
| Value-based CAGR from 2024 to 2034 | 6.8% |
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The scope for global outdoor LED lighting market insights expanded at a 9.7% CAGR between 2019 and 2023. The market is anticipated to develop at a CAGR of 6.8% over the forecast period from 2024 to 2034.
| Historical CAGR from 2019 to 2023 | 9.7% |
|---|---|
| Forecast CAGR from 2024 to 2034 | 6.8% |
Between 2019 and 2023, the global market witnessed robust growth, expanding at a CAGR of 9.7%. This growth was driven by several factors, including increasing awareness of energy efficiency, government initiatives promoting LED adoption, and the growing trend towards smart city infrastructure. Advancements in LED technology, such as improved brightness and durability, contributed to market expansion during this period.
The market is expected to develop at a slightly lower CAGR of 6.8% from 2024 to 2034. This projected growth rate reflects several factors, including market maturity in some regions, saturation in certain application segments, and pricing pressures.
As LED technology becomes more widespread and mainstream, the pace of growth may moderate compared to the earlier years. Nonetheless, factors such as ongoing urbanization, infrastructure development projects, and the increasing emphasis on sustainability are expected to continue driving demand for outdoor LED lighting solutions throughout the forecast period.
| Attributes | Details |
|---|---|
| Opportunities |
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The table highlights the CAGRs across five crucial countries, the United States, Japan, China, the United Kingdom, and South Korea. South Korea stands out as a dynamic market, projected to achieve significant growth with an impressive 9.3% CAGR by 2034.
Renowned for its dedication to innovation, the country is a pivotal player across various industries, showcasing a thriving economic landscape characterized by continuous progress.
The substantial CAGR underscores a proactive approach to embracing and driving advancements in the market, solidifying its position as a key contributor to the global industry. This reflects the commitment to sustainable practices, positioning South Korea as a notable player driving positive developments within the outdoor LED lighting sector on a global scale.
| Countries | CAGRs from 2024 to 2034 |
|---|---|
| The United States | 6.9% |
| Japan | 8% |
| China | 7.4% |
| The United Kingdom | 7.2% |
| South Korea | 9.3% |
The widespread adoption of outdoor LED lighting in the United States can be attributed to several factors. Firstly, stringent regulations and energy efficiency initiatives drive the demand for LED solutions.
The vast urban and suburban areas necessitate efficient and long-lasting lighting options, making LED technology a preferred choice. The mature infrastructure and established market for lighting products facilitate the adoption of LED systems across various applications, including street lighting, parking lots, and architectural illumination.
In Japan, where space is limited and environmental sustainability is a priority, outdoor LED lighting offers an efficient solution. The commitment to innovation and technological advancement aligns well with the benefits offered by LED technology, such as energy efficiency and long lifespan.
The emphasis on urban planning and aesthetics further drives the adoption of LED lighting for streets, parks, and public spaces.
Rapid urbanization and environmental concerns in China have propelled the demand for outdoor LED lighting. The governmental push for energy conservation and reducing carbon emissions has led to the widespread adoption of LED solutions in cities and urban areas.
The manufacturing prowess has made LED lighting products more affordable and accessible, boosting their usage across various outdoor applications.
In the United Kingdom, stringent regulations to reduce energy consumption and carbon emissions drive the adoption of outdoor LED lighting. The focus on sustainable development and green initiatives aligns well with LED technologies' energy-efficient and environmentally friendly attributes.
The commitment of the United Kingdom to smart city initiatives and infrastructure upgrades further accelerates the adoption of LED lighting solutions for streets, public spaces, and commercial areas.
In South Korea, renowned for its technological advancements and commitment to innovation, outdoor LED lighting is widely embraced for its energy efficiency and performance. The dense urban areas and focus on urban beautification drive the demand for high-quality lighting solutions.
The strong emphasis on sustainability and smart city initiatives further propels the adoption of LED lighting across various outdoor applications, positioning it as a leading market for outdoor LED lighting solutions.
The table below provides an overview of the outdoor LED lighting landscape on the basis of offering and application. Hardware is projected to lead the market offering at a 6.5% CAGR by 2034, while streets and roads in the application category are likely to expand at a CAGR of 6.4% by 2034.
Advancements in LED technology, lighting controls, and related hardware components drive market growth by offering improved efficiency, durability, and functionality, thus propelling hardware to lead the market offering.
Rapid urbanization and ongoing infrastructure development projects worldwide increase the demand for efficient and reliable outdoor lighting solutions, particularly for streets and roads, to ensure safety, visibility, and enhanced aesthetics in urban and rural areas.
| Category | CAGRs from 2024 to 2034 |
|---|---|
| Hardware | 6.5% |
| Streets and Roads | 6.4% |
The outdoor LED lighting landscape is segmented based on offerings and applications, with hardware projected to lead the market at a CAGR of 6.5% by 2034.
Hardware components include LED fixtures, lighting controls, and related accessories, driving market growth through their essential role in outdoor lighting systems. This projection underscores the sustained demand for reliable and energy-efficient hardware solutions across various outdoor lighting applications.
Streets and roads are expected to significantly expand within the application category, with a projected CAGR of 6.4% by 2034. This growth is driven by the increasing need for efficient and durable lighting solutions to illuminate urban and rural roadways, highways, and thoroughfares.
Factors such as urbanization, infrastructure development, and safety concerns contribute to the rising demand for outdoor LED lighting in streets and roads, highlighting the importance of reliable illumination for enhanced visibility and safety for pedestrians and motorists alike.
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In the competitive landscape of the outdoor LED lighting market, several key players vie for market share and dominance. These companies range from established lighting manufacturers to specialized LED lighting solution providers.
Technological innovation, product quality, pricing strategies, distribution networks, and customer service characterize competition in this market.
Major players in the market often offer products catering to various outdoor lighting applications, including street, landscape, architectural, and security lighting. These companies invest significantly in research and development to introduce advanced features such as energy efficiency, durability, and smart lighting controls.
Strategic partnerships and collaborations with urban planners, architects, and government agencies play a crucial role in expanding market presence and driving innovation. Companies often use mergers and acquisitions to strengthen their product portfolios and expand into new markets.
Key Market Developments
| Attributes | Details |
|---|---|
| Estimated Market Size in 2024 | USD 14 billion |
| Projected Market Valuation in 2034 | USD 27 billion |
| CAGR Share from 2024 to 2034 | 6.8% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Key Market Segments Covered | Offering, Application, Installation, Sales Channel, Wattage Type, Communication, Interfacing Standard, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Signify Holding; Acuity Brands Lighting Inc.; Cree Lighting; Dialight; Panasonic Corporation |
By 2024, the outdoor LED lighting landscape is anticipated to be valued at USD 14 billion.
The outdoor LED lighting market is projected to flourish at a CAGR of 6.8% from 2024 to 2034.
By 2034, the outdoor LED lighting market will generate USD 27 billion in value terms.
The streets and roads are anticipated to expand at 6.4% CAGR by 2034.
With a CAGR of 9.3%, South Korea is expected to dominate the market for outdoor LED lighting.
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Offering
5.1. Hardware
5.1.1. Lamps
5.1.2. Luminaires
5.1.3. Control Systems
5.2. Software
5.3. Services
5.3.1. Pre-installation
5.3.2. Post-installation
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
6.1. Streets and Roads
6.2. Architecture and Urban Landscape
6.3. Sports and Large Area
6.4. Tunnels
6.5. Others
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Installation
7.1. New
7.2. Retrofit
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
8.1. Retail/Wholesale
8.2. Direct Sales
8.3. E-commerce
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Wattage Type
9.1. Below 50W
9.2. 50-150W
9.3. Above 150W
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Communication
10.1. Wired
10.2. Wireless
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Interfacing Standard
11.1. NEMA
11.2. ZHAGA
12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
12.1. North America
12.2. Latin America
12.3. Western Europe
12.4. Eastern Europe
12.5. South Asia and Pacific
12.6. East Asia
12.7. Middle East and Africa
13. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
16. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
17. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
18. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
19. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
20. Key Countries Market Analysis
21. Market Structure Analysis
22. Competition Analysis
22.1. Signify Holding
22.2. Acuity Brands Lighting, Inc.
22.3. Cree Lighting
22.4. Dialight
22.5. Panasonic Corporation
23. Assumptions & Acronyms Used
24. Research Methodology
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Outdoor LED Lighting Market
