Market Analysis 

The global outdoor lighting market size is likely to touch USD 25.2 billion at a 15.0% CAGR in the forecast period 2020- 2027, according to the latest Market Research Future (MRFR) outdoor lighting market statistics. Outdoor lighting, put simply, is the fixed artificial lighting for illuminating the outdoor areas. This lighting is used to add aesthetic appeal and boost security and safety.

Various factors are fuelling the global outdoor lighting market share. As per the recent MRFR market estimates, such factors include the rising adoption of energy-efficient and cost-effective products, growing focus by the government on energy conservations, creation of wireless technologies for outdoor lighting systems, the use of IoT technology for smart city projects as well as smart street lighting, increasing initiatives by the government towards energy efficiency, rising disposable income, growing population, and rising infrastructure development.

On the contrary, less awareness about payback period and installation price of outdoor LED lights among the masses, high import duties especially on LED lights, and the availability of alternate technologies such as laser technology may impede the Outdoor Lighting Market growth in the forecast period. Besides, the impact of the COVID-19 pandemic due to prohibition of outdoor activities, lockdowns, temporary closure of stadiums and parks, restrictions on travel, fall in the sales of fluorescent lights and energy-efficient LEDs, halt in the export of raw materials, and delays in the construction of tunnels, parks, new stadiums, and roadways that have lowered the use of outdoor lighting may also limit the market growth.

Segmental Analysis

By lighting type, the outdoor lighting market has been segmented into LED lamps, HID lamps, plasma lamps, and fluorescent light. By distribution channel, the outdoor lighting market has been segmented into retail and commercial. By application, the outdoor lighting market has been segmented into street lighting, highways, stadiums, parking lots, tunnel lights, parks, and others. By region, the outdoor lighting market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Get Premium Free Sample PDF @ https://www.marketresearchfuture.com/sample_request/8340

Key Players

The key players in the outdoor lighting market are Philips Lighting Holding B.V.(The Netherlands), General Electric Company (GE (NYSE)), Osram Licht AG (OSR (ETR)), Cree, Inc. (CREE (NASDAQ)), Eaton Corporation PLC (ETN (NYSE)),  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.

Regional Analysis

Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to a number of smat city initiatives, growing smart building market, and many other development projects. China, Japan, Taiwan, and India are expected to dominate the market and Australia, Singapore, and New-Zealand are expected to grow at a steady rate during the forecast period. Europe is expected to dominate the outdoor lighting market during the forecast period. Government initiatives regarding smart lighting control systems are expected to drive the market in European countries. Germany, the UK, the Netherlands, Sweden, Italy, and France are expected to grow at a high rate during the forecast period. However, Portugal, Norway, Switzerland, and the Rest of Europe are expected to grow at a stable rate during the forecast period. The Middle East and Africa and South America segment is expected to grow at stable rate during the forecast period.

Have Any Query? Ask Our Expert @ https://www.marketresearchfuture.com/reports/outdoor-lighting-market-8340  

About Us:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

Media Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com