Global LED Street Lighting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global LED Street Lighting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

LED stands for light-emitting diode. The LED light source is highly efficient and environmentally friendly. It is more controllable than previous types of street lighting as it can be dimmed when necessary and it concentrates light on where it's needed with less light pollution.

Market Overview:

The latest research study on the global LED Street Lighting market finds that the global LED Street Lighting market reached a value of USD 4881.62 million in 2022. It’s expected that the market will achieve USD 10300.23 million by 2028, exhibiting a CAGR of 13.25% during the forecast period.

Influence of COVID-19 Outbreak on LED Street Lighting Industry Development

Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to nearly 100 countries around the world, and the World Health Organization has declared it an emergency public health event. The COVID-19 epidemic is infected with a large number of people, and its spread and scope far exceed SARS. At present, the number of confirmed cases in Worldwide has exceeded 9 million. Different industries are affected differently by the epidemic situation. The impact on LED Street Lighting is mainly reflected in the supply of raw materials and Downstream market demand. The main raw materials of LED Street Lighting are LED chip, PCB board integrated block, Chip resistor-capacitor, etc. Affected by the COVID-19 epidemic, logistics will be suspended and the supply of raw materials for LED Street Lighting will be tight. Due to the global threat of COVID-19, the resumption of work in the world's foundries will directly affect the customer's production plan for goods and shipments. The continuous outbreak of the international epidemic situation, if the personnel control of each country is extended, it will affect the smooth supply of equipment and materials.

The impact on the labor-intensive industry is also greater due to the necessity of epidemic isolation. And the impact on SMEs is more obvious in the industries. These company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency. Some small and medium-sized enterprises are in trouble or even bankrupt.

Third, affected by the epidemic, the main difficulties faced by some downstream enterprises are: stagnant bidding, difficulties in undertaking new projects; increased corporate management costs; difficulty in collecting payments and tight cash flow; inability of employees to arrive; shortage of protective materials; rent, the tax payment pressure is high. At the same time, some companies still have difficulties in handling project procedures, stabilizing employees' salaries, delaying the signing of project contracts, and delaying the start of construction.

Market Driver Analysis

Because LEDs are light-emitting semiconductors, they do not burn out often. The average lifespan of LEDs is about 25,000 hours, and some can reach 100,000 hours. Compare this to incandescent lamps with a lifetime of 2,000 hours, fluorescent lamps and HIDs of less than 10,000 hours. This means having an LED will reduce the number of replacements and save valuable resources when buying and replacing burned out bulbs. Therefore, in addition to saving energy, using LEDs can also reduce operating costs by saving a lot of maintenance costs.

In most developed countries, taking into account the energy-saving effect, LED has been an economical alternative to existing street lights during its service life, although the initial cost is relatively high. But within a few years, LED street lights are expected to reach cost parity with traditional technologies, so that their cost benefits are immediately positive. At this point, they are substitutes in almost all countries and have economic significance. In addition, with the rapid urbanization of many emerging market countries and the need to improve urban infrastructure, this creates a huge market opportunity

LED Street Lighting have a long service life, high efficiency, impact resistance, and high-temperature resistance. In addition, compared to traditional lighting, LEDs generate a small amount of heat due to their high performance. Most of the energy generated after the treatment is converted into light (90%), and even in long-term work, it can directly contact the LED light source without being burned. Compared with energy-saving lamps, LEDs do not contain toxic substances, such as mercury and other environmentally harmful metals, which are 100% recyclable, which helps reduce carbon dioxide emissions. With the government's increasing attention to environmental issues, the demand for LED Street Lighting will increase.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Philips Lighting is one of the major players operating in the LED Street Lighting market, holding a share of 7.06% in 2020.

Philips Lighting is the leading provider of lighting solutions and applications both for professional and consumer markets, transforming how lighting is used to enhance the human experience in the places where people live and work. Whether at home, on the road, in the city, shopping, at work, or at school, they are creating lighting solutions that transform environments, create experiences, and help shape identities.

OSRAM GmbH manufactures lighting products. The Company offers lamps, light-emitting diodes, electronic control gears, luminaires, and light management systems. Osram serves customers worldwide.

Segmentation Overview:

Among different product types,<100W segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Subsidiary Road& Residential Streets segment occupied the biggest share from 2017 to 2022.

Key Companies in the global LED Street Lighting market covered in Chapter 3:

Osram
Cooper Lighting
Cree
LED Roadway Lighting Ltd.
Acuity Brands
Panasonic
YAHAM Lighting
Yankon
Kingsun
GE Current
Hubbell
Eneltec Group
Toshiba
Seming Lighting
LEOTEK
Schréder
Philips Lighting

In Chapter 4 and Chapter 14.2, on the basis of types, the LED Street Lighting market from 2018 to 2029 is primarily split into:

<100W
100-150W
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the LED Street Lighting market from 2018 to 2029 covers:

Highway
Arterials
Subsidiary Road& Residential Streets
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)