The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on World Outdoor Lighting Market. The growth sectors of the World Outdoor Lighting Market are identified with precision for a better growth perspective.
According to Market Research Future, the global outdoor lighting market has been segmented based on lighting type, distribution channel, application, and region.
Outdoor lighting is a fixed artificial lighting that is used to brighten the outdoor areas. Outdoor lighting improves the visual performance to increase safety and security in outdoor areas. Demand for smart controls in street lighting systems and need for energy-efficient lighting systems for highways are expected to drive the outdoor lighting market during forecast period. However, the high installation cost of smart lighting is expected to restrain the market during forecast period.
Global outdoor lighting market has been segmented into lighting type, distribution channel, application, and region.
By lighting type, the outdoor lighting market has been segmented into LED lamps, HID lamps, plasma lamps, and fluorescent lights. The HID lamps segment is expected to dominate the outdoor lighting market during the forecast period as they offer durability, high lumen output per watt, and are small in size. However, the LED lamps segment is expected to grow at faster rate during forecast period. HID lighting replaces the filament of a light bulb with the capsule of gas. HID lights require a ballast, which carefully controls the voltage supplied to the capsule of the gas. LED lamps provide better illumination than any other type of light. The demand for smart control in street lighting systems is expected to drive the LED lamps market during forecast period. In plasma lighting technology, light comes from a small and single point source. This light output is completely bidirectional and puts more lumens on the ground when it is needed. In August 2018, the European government launched Humble Lamppost project with an aim to save USD 2.46 billion on electricity every year. In this project, 60 to 90 million 25-year-old streetlights have been replaced with more efficient LEDs. This lamppost consists of smart lighting system, application-based wireless control, E-vehicle charging, push-to-talk system, and photovoltaic cells for lamp and mobile phones.
On the basis of the distribution channel, the outdoor lighting market has been segmented into retail and commercial. The commercial segment is expected to dominate the outdoor lighting market during the forecast period because outdoor lights are mainly sold in bulk, based on their companies, utility, or specialty distributors.
By application, the outdoor lighting market has been segmented into street lighting, highways, stadiums, parking lots, tunnel lights, parks, and others. The street lighting segment is expected to dominate the application segment due to various government initiatives taken for streetlight control systems. The highway segment is expected to grow at the higher rate during the forecast period.
The key players in the outdoor lighting market are Philips Lighting Holding B.V.(The Netherlands), General Electric Company (US), Osram Licht AG (Germany), Cree, Inc. (US), Eaton Corporation PLC (Ireland), Hubbell Incorporated (US), Dialight PLC (US), Zumtobel Group AG (Austria), Syska (India), Virtual Extension (Israel), Evluma (US) Halco Lighting Technologies (US), and Masco Corporation (US) among others.
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