LED Street Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

LED Street Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:

The global LED street light market size reached US$ 10.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.1 Billion by 2028, exhibiting a growth rate (CAGR) of 14.01% during 2023-2028.

The LED technology has evolved significantly over time, which has led to a reduction in their production costs and simultaneous improvements in efficiency and performance characteristics. These enhancements have enabled the technology to be combined with roadway and exterior area lighting such as streetlights and floodlights. Nowadays, the incorporation of street lighting with energy-efficient, modern LED systems has presented numerous opportunities for building a secure and connected city lighting network. On account of their longer lifespan and lower energy consumption, various cities around the world have adopted LED streetlights.

Retrofit
Retail & Hospitality
Outdoor
Offices
Architectural
Residential
Industrial

Currently, LED lighting is majorly used for retrofitting purposes in which the inefficient light sources are replaced with LED lights in order to enhance optical performance and energy efficiency. The other major applications include retail & hospitality, outdoor, offices, architectural, residential and industrial.

Regional Insights:

India
China
Europe
United States
Japan
Brazil
Russia
Other Regions

On a regional basis, the report finds that China is the largest market for LED lighting, holding the majority of the global market share. This can be attributed to increasing urbanization, implementation of local energy saving targets and introduction of financial subsidies to promote the usage of LED lights across the nation.

Competitive Landscape:
The competitive landscape of the LED lighting industry has also been analyzed with details of the key players operating in the market across the globe.

Key Questions Answered in This Report

1. What is the global LED street lighting market growth ?
2. What are the global LED street lighting market drivers?
3. What are the key industry trends in the global LED street lighting market?
4. What is the impact of COVID-19 on the global LED street lighting market?
5. What is the global LED street lighting market breakup by application?
6. What are the major regions in the global LED street lighting market?