The stadium lighting market is expected to expand at a considerable pace in the near future. Increase in number of national and international sports events is expected to be one of the primary factors responsible for the growth of the stadium lighting market.
Albany, NY -- (SBWIRE) -- 08/17/2018 -- Stadium lighting are the broad beamed floodlights used in stadiums to illuminate high intensity lights. These are used in indoor as well as outdoor playing fields to provide adequate amount of light. Traditional stadium lighting used in football, cricket grounds etc. are extensive in structure and hence their maintenance is a prime concern. With advent of new technologies, stadium lightings have become more environment friendly and cost efficient. They are more durable compared to conventional lighting systems as they need to tolerate diverse weather conditions, such as rains, winds, and thunder storms.
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The stadium lighting market is expected to expand at a considerable pace in the near future. Increase in number of national and international sports events is expected to be one of the primary factors responsible for the growth of the stadium lighting market. Increasing number of sports events is anticipated to boost the sales of stadium lighting equipment. International sports events such as PyeongChang 2018 Olympic Winter Games, and Football World Cup 2018, Russia, is expected to boost the stadium lighting market. Sporting events such as the 2018 Summer Youth Olympics (Argentina) and 2019 Copa America (Brazil) are anticipated to contribute to the growth of the stadium lighting market. Many countries are focusing on the sports industry as a whole, resulting in modernization of stadiums and its lightings. This in turn is expected to fuel the stadium lighting market. Additionally, government initiatives in application of smart lightings (LED lightings) are boosting the demand for stadium lightings. Government initiatives to provide subsidy to set up smart stadium lightings are expected to boost the sales of stadium lightings. However, high equipment cost and lack of maintaining standardization is expected to be a major factor restraining the growth of the stadium lighting market. There are only a few manufacturers of stadium lighting which leads to monopoly in the market in terms of price.
One of the key trends in the stadium lighting market is the introduction of high power, energy efficient lighting systems. Stadiums are replacing ancient lighting systems with advanced LED lighting systems as a result of upcoming national and international sports events such as the Super Bowl LII 2018 in the U.S, Rugby World Cup 2019 in Japan, and Olympic Games 2020 in Japan. These events are expected to attract technology providers for the deployment of advanced stadium lighting solutions. LED lights provide better quality light compared to conventional lightings which also helps to meet broadcast demands.
The global stadium lighting market can be segmented on the basis of light source, offering, solution set up, installation type, and geography. Based on light source, the market can be segmented as LED and HID (High-Intensity Discharge), HPS (High-Pressure Sodium), and induction lights. According to offering, the market can be segmented as Lamps & Luminaires, Control Systems, and Services. According to solution set-up, global stadium lighting can be segmented as indoor and outdoor. Based on installation type, the market can be segmented into new installation and retrofit installation. In terms of geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Some of the prominent players operating in the stadium lighting market includes Philips Lighting (Netherlands), Cree (US), Acuity Brands (US), Eaton (Ireland), Hubbell (US), LG Electronics (South Korea), Musco Sports Lighting (US), General Electric (US), and Panasonic Corporation (Japan), Zumtobel Group (Austria) etc. Some other prominent players in the market include Techline Sports Lighting, Qualite Sports Lighting, Sportsbeams Lighting, Nila Sports, and Valmont Industries. All these players compete with each other with respect to their product portfolio in order to survive in the market.