The global street and roadway lighting market is valued at US$ 9.7 billion in 2023, reflecting its robust growth trajectory.
Projections suggest that the market is poised to maintain a steady pace of expansion, with an estimated CAGR of 5.4% from 2023 to 2033. Such consistent growth is expected to propel the market to remarkable heights, culminating in an impressive value of US$ 16.4 billion by the end of 2033.
The increasing complexities of transportation infrastructure have heightened the demand for enhanced street and roadway lighting. This is essential to guarantee the safety and security of individuals using these thoroughfares and to facilitate seamless traffic flow, all while maintaining cost efficiency.
| Street and Roadway Lighting Market Size Value in 2023 | US$ 9.7 billion |
|---|---|
| Anticipated Market Value for 2033 | US$ 16.4 billion |
| Value-based CAGR for 2023 to 2033 | 5.4% |
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In the years spanning from 2018 to 2022, the street and roadway lighting market witnessed substantial growth, driven by a discernible shift toward energy-efficient and intelligent lighting solutions. The market was valued at US$ 9.1 billion in 2022 and recorded a CAGR of 6.8% during the historical period.
| Historical CAGR (2018 to 2022) | 6.8% |
|---|---|
| Projected CAGR (2023 to 2033) | 5.4% |
This period marked a transition from traditional lighting systems to smart and adaptive technologies, as urbanization continued to accelerate, placing greater demands on lighting infrastructure.
Advancements in the Internet of Things (IoT) technology, sustainability imperatives, and the ever-expanding urban environment are converging to shape the forthcoming decade. The projected period is expected to usher in a new era of street and roadway lighting, characterized by heightened efficiency, automation, and a profound commitment to environmentally conscious solutions. This transformation is driven by the imperative of meeting the complex lighting needs of smart cities while aligning with global sustainability goals.
The industry is expected to reach a value of US$ 16.4 billion by 2033, advancing at 5.4% from 2023 to 2033.
Principal Consultant
The section below highlights the revenue potential of the major countries in the street and roadway lighting market. The market in China is expected lead other markets with a revenue potential of 3.1 billion by 2033.
| Countries | Market Valuation (2033) |
|---|---|
| China | US$ 3.1 billion |
| United Kingdom | US$ 555.3 million |
| Japan | US$ 2.3 billion |
| United States | US$ 2.8 billion |
| South Korea | US$ 774.6 million |
China is poised to experience robust growth, primarily attributable to the burgeoning smart city initiatives and the country is anticipated to amass revenue of around US$ 3.1 billion by 2033, with 5.2% CAGR from 2023 to 2033.
Leveraging LED technology, smart street lighting, assumes a central role in these initiatives due to its myriad benefits, in turn facilitating the street and roadway lighting market’s growth in the country.
The government in China is actively endorsing LED adoption for roadway and highway applications, driven by the desire to achieve energy savings and reduced maintenance costs. China, with the ambitious goal of establishing 100 new smart cities between 2016 and 2021, leads the global landscape in smart city development. The country boasts over 1,000 smart city pilot projects, with approximately 500 of them situated within its borders, encompassing cities of varying sizes.
The United States is experiencing market growth due to government initiatives promoting energy-efficient lighting. Rebates, tax incentives, and regulations encouraging the use of LED and smart lighting solutions are driving adoption. This alignment with sustainability goals reinforces the street and roadway lighting market's expansion, contributing to the country’s share of US$ 2.8 billion by 2033.
The increasing deployment of smart lighting solutions, driven by the need for improved urban infrastructure, public safety, and energy savings, is a significant factor fostering market growth. Cities across the country are investing in advanced lighting systems, including IoT-enabled solutions, to create more efficient and responsive urban environments.
The United States benefits from a thriving LED technology industry with a strong focus on research and development. This innovation, coupled with a robust manufacturing ecosystem, supports domestic production and drives market growth. Ongoing infrastructure modernization projects further contribute to the demand for advanced lighting solutions, propelling the market forward.
The street and roadway lighting market in Japan is expected to reach US$ 2.3 billion by 2033. Japan has been a leader in adopting energy-efficient and advanced lighting technologies, including LED street and roadway lighting. LED lighting has gained widespread acceptance in Japan due to its energy efficiency and long lifespan.
The Japanese government has promoted energy-saving initiatives and subsidies to encourage the adoption of LED lighting in municipalities. There's a strong focus on sustainability and environmental considerations in Japan, driving the adoption of eco-friendly lighting solutions.
South Korea has a well-developed infrastructure and places a strong emphasis on technology and innovation. The street and roadway lighting market in South Korea is projected to be valued at US$ 774.6 million by 2033.
LED street lighting has been widely adopted in South Korea to improve energy efficiency and reduce maintenance costs. The government has supported LED lighting projects and encouraged municipalities to upgrade their street lighting systems.
South Korea has a competitive landscape with several domestic and international lighting manufacturers participating in the market.
The United Kingdom has been actively transitioning to LED street lighting to reduce energy consumption and lower carbon emissions. The market in the United Kingdom is expected to reach US$ 555.3 million by the end of the forecast period.
The United Kingdom’s government has set ambitious goals for reducing carbon emissions, which has led to increased investments in energy-efficient lighting technologies. Initiatives like the LED Road Lighting Toolkit have been implemented to assist local authorities in making informed decisions regarding LED adoption.
Smart street lighting solutions have also gained traction in the United Kingdom, allowing for remote monitoring and adaptive lighting control.
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| Top Wattage Type | Below 50 W |
|---|---|
| Value-based CAGR (2023 to 2033) | 5.2% |
The top wattage type for the street and roadway lighting market, especially for energy-efficient and sustainable lighting solutions, is typically below 50 watts. The sub-segment is expected to grow at a CAGR of 5.2% over the forecast period.
LED (Light Emitting Diode) technology has become the dominant choice for street and roadway lighting due to its energy efficiency, long lifespan, and superior performance compared to traditional lighting technologies like high-pressure sodium (HPS) or metal halide lamps.
| Top End Use | Streets & Roadways |
|---|---|
| Value-based CAGR (2023 to 2033) | 4.9% |
Based on end use, the market is bifurcated into highways, streets and roadways, others. The street and roadways segment holds a substantial market share and is estimated to witness a 4.9% CAGR during the forecast period.
The factors that can be attributed to the rapid urbanization and expansion of cities around the globe coupled with modernization and development of road infrastructure enhance the demand for street and roadways segments.
The street and roadway lighting market exhibits fragmentation and intense competition due to the participation of numerous regional and global players worldwide. Governments prioritize road lighting as an indispensable service to enhance nighttime safety and security for their populations.
The ongoing development of critical infrastructure, like the construction of intercity highways, stands as a compelling factor enticing companies to venture into this market. These dynamics have spurred both established and emerging players to invest in the street and roadway lighting market, creating a diverse and competitive landscape that continues to evolve.
Recent Developments in the Street and Roadway Lighting Market
The street and roadway lighting market is projected to reach a value of US$ 16.4 billion by 2033.
The street and roadway lighting market is poised to expand at a CAGR of 5.4% through 2033.
From 2018 to 2022, the street and roadway lighting market witnessed a growth rate of 6.8%.
The United States street and roadway lighting market for street and roadway lighting is expected to hold a revenue share of US$ 2.8 billion by 2033.
The streets and roadways sub-segment is projected to lead the market based on end use with a 4.9% CAGR through 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Unit) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Wattage Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Wattage Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Wattage Type, 2023 to 2033
5.3.1. Below 50 W
5.3.2. 50 - 150 W
5.3.3. Above 150 W
5.4. Y-o-Y Growth Trend Analysis By Wattage Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Wattage Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By End-Use, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By End-Use, 2023 to 2033
6.3.1. Streets & Roadways
6.3.2. Highways
6.3.3. Other End-Uses
6.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Wattage Type
8.2.3. By End-Use
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Wattage Type
8.3.3. By End-Use
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Wattage Type
9.2.3. By End-Use
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Wattage Type
9.3.3. By End-Use
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Wattage Type
10.2.3. By End-Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Wattage Type
10.3.3. By End-Use
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Wattage Type
11.2.3. By End-Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Wattage Type
11.3.3. By End-Use
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Wattage Type
12.2.3. By End-Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Wattage Type
12.3.3. By End-Use
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Wattage Type
13.2.3. By End-Use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Wattage Type
13.3.3. By End-Use
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Wattage Type
14.2.3. By End-Use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Wattage Type
14.3.3. By End-Use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Wattage Type
15.1.2.2. By End-Use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Wattage Type
15.2.2.2. By End-Use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Wattage Type
15.3.2.2. By End-Use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Wattage Type
15.4.2.2. By End-Use
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Wattage Type
15.5.2.2. By End-Use
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Wattage Type
15.6.2.2. By End-Use
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Wattage Type
15.7.2.2. By End-Use
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Wattage Type
15.8.2.2. By End-Use
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Wattage Type
15.9.2.2. By End-Use
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Wattage Type
15.10.2.2. By End-Use
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Wattage Type
15.11.2.2. By End-Use
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Wattage Type
15.12.2.2. By End-Use
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Wattage Type
15.13.2.2. By End-Use
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Wattage Type
15.14.2.2. By End-Use
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Wattage Type
15.15.2.2. By End-Use
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Wattage Type
15.16.2.2. By End-Use
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Wattage Type
15.17.2.2. By End-Use
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Wattage Type
15.18.2.2. By End-Use
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Wattage Type
15.19.2.2. By End-Use
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Wattage Type
15.20.2.2. By End-Use
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Wattage Type
15.21.2.2. By End-Use
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Wattage Type
15.22.2.2. By End-Use
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Wattage Type
15.23.2.2. By End-Use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Wattage Type
16.3.3. By End-Use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Eaton Corporation PLC
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. General Electric Company
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Hubbell
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Kingsun Optoelectronic Co.
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Koninklijke Philips NV
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. LED Roadway Lighting Ltd.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Osram Licht AG
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Syska Led Lights Pvt. Ltd
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Thorn Lighting
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Virtual Extension Ltd.
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Street and Roadway Lighting Market
