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Outdoor Lighting Market - Industry Insights by Lighting Type, Technology, Application, Demand and Growth Forecast to 2023

The global outdoor lighting market is expected to witness 8.4% CAGR forecast to 2023. The global outdoor lighting market is likely to grow at a CAGR of 8.4% during the forecast period. Outdoor lighting refers to the use of outdoor illumination of private gardens and public landscapes for the improvement and determinations of security, nighttime aesthetics, convenience and safety. Various types of lighting sources being utilized for outdoor lighting includes LEDs, fluorescent lights, HID lamps and plasma lamps. Among various types of lighting sources, LEDs enable outdoor lighting with exceptional benefits of higher efficiency and environment safety.

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Increasing demand for energy-efficient lighting solutions across the globe, modernization and development of infrastructures such as smart cities, reduction in the prices of LEDs, and increasing penetration of LEDs as a light source in various outdoor lighting applications, including streetlights, parking lots and tunnel lights, are the major factors likely to bolster the growth of the market during the forecast period.
Geographically, Asia-Pacific has been the largest market for outdoor lightings. The gravity center for the outdoor lighting market has clearly moved to Asia, in particular for chips and epiwafers, and also for packaged lighting sources. The supply chain structure of outdoor lighting sources consists of product design, product manufacturing and marketing & sales. In Asia-Pacific, most of the companies operating in this market are involved in product designing and product manufacturing for the companies operating in other regions. However, most of the non-Asian companies are in charge of marketing and sales. For example, European companies are active in designing and marketing and sales and often outsource manufacturing in Asia.

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Being a manufacturing hub for outdoor lighting sources, Asia-Pacific contributed the largest to the global outdoor lighting market. Further, it is also expected to witness fastest growth globally, during the forecast period. The high growth is expected due to the region being major hub for manufacturing and distribution of LED based lighting systems, and a major exporter of energy efficient lighting solutions, globally.
The energy consumption in the progressing global economy is expected to increase, especially with the growing energy demand in developing countries, such as China and India. Also, the risk of climate change associated with the use of fossil fuels has made supply of energy difficult. A shift towards light emitting diode (LED) lighting and high intensity discharge (HID) lamps can be seen in the outdoor applications, due to government support and longer lifetime offered by these technologies. The Government of China supports the installation of outdoor LED lighting, which is supporting the growth of the global outdoor lighting market.

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Some of the major players in the global outdoor lighting market include Philips Lighting Holdings, General Energy Connections, Osram Licht, Hubbell Incorporated, Cree Inc, Eaton Corporation, Syska LED, Virtual Extension, Dialight Plc, Zumtobel Group AG.

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