Skip to main content

COVID-19 Impact Review: Outdoor Lighting Market 2020, Outlook in 2030? | Know the Challenges and Trend Analysis

A major reason driving the growth of the outdoor lighting industry is the rising adoption of energy-efficient lighting solutions. These days, solar-powered lighting is emerging as a reliable and popular source of street lighting and is extensively being utilized around the world. Strict government regulations for the development of sustainable infrastructure, increasing public and private investments towards electrification of off-grid areas, and surging consumer awareness about climate change are the major factors leading to the rising adoption of solar-lighting systems. These systems further have low operational cost, owing to which, they are ideal for remote locations. 

As per a study by P&S Intelligence, the outdoor lighting market is predicted to reach a value of $23.8 billion by 2030, rising from $10.7 billion in 2019, advancing at a 7.3% CAGR during the forecast period (2020–2030). The market is witnessing growth due to the rising adoption of energy-efficient lighting solutions, increasing infrastructure development, and surging government initiatives towards attaining energy efficiency. In terms of lighting type, the market is divided into plasma lights, high-intensity discharge (HID) lights, fluorescent lights, and light-emitting diode (LED) lights.



Geographically, the Asia-Pacific (APAC) region dominated the outdoor lighting market during the historical period and is further expected to advance at the fastest pace during the forecast period. The market in the region is growing particularly due to the presence of key manufacturers, exporters, and distributors of energy-efficient lighting solutions. Furthermore, the rapid urbanization and rising requirement for intelligent solutions that facilitate energy management are resulting in the growth of smart city initiatives. This, in turn, is leading to the expansion of the market in the APAC regions. 

This market research report provides a comprehensive overview of the outdoor lighting market
  • Historical and the present size of the outdoor lighting market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential

Comments

Post a Comment

Popular posts from this blog

Revenue Explosion Predicted in Global Micro Battery Market During 2020—2024

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...
Post a Comment
Read more

Power Electronics Market Analysis by Industry Segments, Share, Application, Development, Growing Demand, and Top Key Players

The expanding application pool of power electronics, the increasing utilization of renewable energy sources, and the rapid advancements in power electronics technology are the main factors driving the progress of the market across the globe. Additionally, the rising usage of power electronic devices in various utility applications and the growing demand for high power density in wind power generators, electric rail traction drives, solar power generators, and inverter systems are fueling the growth of the market. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/power-electronics-market/report-sample Power electronic devices make sure that power is supplied effectively, thereby providing high flexibility, reliability, and security to the power systems. Due to these devices, the already-existing electrical grids can be easily converted into next-generation networks. When end user is taken into consideration, the power electronics market is divided in...
Post a Comment
Read more

Why Are Smart Solar Devices Trending in Solar Street Lighting Market?

The component segment of the solar street lighting market is divided into lamp, solar panel, battery, and controller. Under this segment, the solar panel division generated the highest revenue in 2019, and it is expected to maintain its dominance during the forecast period. Solar panels are a quintessential component of a solar lighting system, and they are relatively costlier than other components.  Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/solar-street-lighting-market/report-sample These panels offer electricity to charge the battery in daylight, which illuminates the lamps attached to them in less or no sunlight. During the historical period (2014–2019), the Asia-Pacific (APAC) market accounted for the largest share. This was due to the rising expenditure on infrastructure development and growing number of government initiatives in South Korea, India, Australia, China, and Japan for the installation of solar lighting systems.  As ...
Post a Comment
Read more