Global Outdoor LED Lighting Market to Reach $54.7 Billion by 2030
The global market for Outdoor LED Lighting estimated at US$22.8 Billion in the year 2023, is expected to reach US$54.7 Billion by 2030, growing at a CAGR of 13.3% over the period 2023-2030. New Outdoor LED Lighting, one of the segments analyzed in the report, is expected to record 11.7% CAGR and reach US$30 Billion by the end of the analysis period. Growth in the Retrofit Outdoor LED Lighting segment is estimated at 15.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $5.9 Billion, While China is Forecast to Grow at 17% CAGR
The Outdoor LED Lighting market in the U.S. is estimated at US$5.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$12.9 Billion by the year 2030 trailing a CAGR of 17% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.4% and 11% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.3% CAGR.
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