LED Street Light Market: by Power (Less Than 50W, 50-150W, and More than 150W), End-Use Industry (Retrofit, Retail & Hospitality, Outdoor, Offices, Architectural, Residential, and Industrial), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)
The LED street light market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the LED street light industry.
During the forecast period, 2020-2025, the LED street light market is projected to register a CAGR of 13% and is valued at USD 3.4 billion in 2019. The retrofitting industry is gaining traction over the other end-use industries across the globe. Further, the trend of combining street lights with energy-efficient, modern LED systems have created various possibilities for creating a secure and linked city lighting network. This aspect will augment the global LED street light market over the forecast period.
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The COVID-19 pandemic has disrupted the global LED street light market, and companies have been forced to restructure their plans to cope with the pandemic. COVID-19 influences the world economy in three major ways: by impacting production and demand, by disturbing the supply chain and market, and by its financial effect on companies. Owing to manufacturing discrepancies and global economic issues, several companies have delayed their plans. To prevent the spread of coronavirus, workers have either returned to their hometowns or were quarantined.
The report outlines the study of the global LED street light market on the basis of the power and end-use industry.
Based on the power, the LED street light market has been segmented into –
Based on the end-use industry, the LED street light market has been segmented into –
Several geographical regions, namely, North America, Asia Pacific, South America, Europe and the Middle East and Africa (MEA), have been segmented into the global LED street light market. North America held the largest revenue market share in the LED street light market in 2019, followed by the Asia Pacific and Europe. The launch of new and creative technologies to minimize energy consumption and enhance the supply for the longest hours are primarily boosting the LED street light market growth. Moreover, Asia Pacific is expected to account for the highest CAGR globally over the forecast period due to rapid investment from the governments.
The global LED street light market is highly fragmented, with the presence of a large number of small players across the globe. The key players operating in the global LED Street Light market include-
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The LED street light market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the presence of the market players in the respective segment and region/country. The information concluded in the report includes the inputs.
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