New York City, NY -- (SBWIRE) -- 08/27/2020 -- The global outdoor lighting market, which generated $10.7 billion in 2019, would grow at a 7.3% CAGR between 2020 and 2030, to reach $23.8 billion by 2030. This is simply because, as more roads and highways are constructed, an increasing number of lighting fixtures would be installed along them. Moreover, the sale of automobiles is surging in developing countries, which is also pushing the rate of road transport infrastructure development.
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Highways accounted for the widest application of outdoor lights during 2014–2019, as the number of highway construction and renovation projects rose rapidly during that period. For instance, in China, the Jilin Provincial Department of Transportation linked Ji'anandTonghua, Liaoyuan and Dongliao, Jilin and Changchun Longjia International Airport, and Yushuand Songyuan via four separate highway projects in 2019.
The objective of this research includes;
* Historical and the present size of the outdoor lighting market
* Future potential of the market through its forecast for the period 2020– 2030
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
* Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
* Major players operating in the market and their service offerings
* Recent strategic developments by the major players in the market
In the coming years, direct sale is expected to be the more-popular distribution channel for outdoor lighting fixtures. This is because of the growing installation rate of LED streetlights at highways, airports, roads,jogging tracks, parking lots,bridges, and village squares. Private builders, government bodies,and contractors, who are the major procurers of such products, prefer to buy them through the direct sales channels of manufacturing companies, as such projects generally require lighting fixtures in bulk.
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Asia-Pacific (APAC) is presently the most productive outdoor lighting market, as this region is the largest manufacturer, distributor, and exporter of energy-efficient lighting systems in the world. Additionally, in several regional nations, initiatives are being taken to replace conventional lights with LEDs; for instance, under the Street Light National Programme (SLNP) launched in 2015, Government of India aims to install 35 million LEDs in place of conventional streetlights.
The research includes detailed analysis of;
Based on Lighting Type
- High-Intensity Discharge (HID) Lights
- Light-Emitting Diode (LED) Lights
- Fluorescent Lights
- Plasma Lights
Based on Component
- Fixture
- Control
Based on Application
-Streets
-Highways
-Parking Lots
-Stadiums
Based on Distribution Channel
- Direct Sale
- Retail
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