Global LED Street Light Market Report and Forecast 2023-2028

Global LED Street Light Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global LED street light market is projected to grow at a CAGR of 26.3% between 2023 and 2028. Aided by the sweeping transition towards energy-efficient lighting solutions and the burgeoning need for advanced urban infrastructure, the market is expected to grow significantly by 2028.

LED (Light Emitting Diode) street lights are illuminative fixtures predominantly employed in outdoor public spaces, such as streets, parks, and pathways. They are lauded for their remarkable efficiency, longevity, and superior luminosity when juxtaposed with traditional lighting counterparts. As cities worldwide gear up to become smarter and environmentally conscious, LED street lights emerge as the front-runner in the race towards sustainable urban lighting.

One of the driving forces of the LED street light market growth is the colossal savings potential on energy consumption. Traditional street lighting, employing halogens or incandescent, often leads to escalated energy costs and heightened carbon footprints. Conversely, LED street lights operate at a fraction of the energy and can significantly reduce greenhouse gas emissions, a trait increasingly resonant with the contemporary ecological ethos.

A concurrent trend amplifying the LED street light market demand is the global surge in smart city initiatives. Modern metropolises are striving to weave technology into their urban fabric, and lighting plays a pivotal role in this endeavour. LED street lights, often integrated with sensors and connected networks, can dynamically adjust brightness, monitor traffic, or even relay weather updates, epitomising the concept of intelligent urban infrastructure.

Safety and security, paramount in urban planning, also find enhanced solutions in LED street lights. Providing consistent, bright, and wide-spread illumination, they enhance visibility during nocturnal hours, subsequently reducing accidents and crime rates. This quality, coupled with their robust build and minimal maintenance requirements, makes them an increasingly popular choice for municipalities globally.

As per the LED street light market analysis, In the industrial backdrop, the LED technology itself is undergoing relentless advancements. Breakthroughs in chip designs, thermal management, and luminaire structures have resulted in LEDs that are brighter, more reliable, and even more energy-efficient. This perpetual innovation cycle further solidifies the position of LED street lights in the market.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application

• Retrofit
• Retail and Hospitality
• Outdoor
• Offices
• Architectural
• Residential
• Industrial
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global LED street light market. Some of the major players explored in the report by Expert Market Research are as follows:

• XtraLight
• Niland
• Pemco Lighting Products, LLC
• Pkk Lighting, Inc
• Eaton
• NIPSCO Inc
• Wendel
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.