Global Street Lighting Market Insights Forecasts to 2033

• The Global Street Lighting Market Size was estimated at USD 9.12 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 3.7% from 2023 to 2033
• The Worldwide Global Street Lighting Market Size is Expected to Reach USD 13.11 Billion by 2033
• North America is expected to grow the fastest during the forecast period.

The global street lighting market size was worth around USD 9.12 billion in 2023 and is predicted to grow to around USD 13.11 billion by 2033 with a compound annual growth rate (CAGR) of 3.7% between 2023 and 2033. The growing urbanization and infrastructure development projects drive the market's growth.

Market Overview

The global street lighting market is an industry that is concerned with illuminating public roads, highways, and pathways at night to increase visibility and safety. This market comprises various components, such as lamps, poles, fixtures, and control systems. Street lighting offers urban areas visibility and safety at night. As the city stretches further, its demand for extensive, reliable street lighting networks becomes more urgent. High-pressure sodium lamps, traditionally used as streetlights, are being replaced with energy-efficient LEDs that consume less power and have a longer life. The key drivers behind these changes are a reduction in the consumption of energy, a lowering of carbon emissions, and lower operational costs by municipalities. Furthermore, the integration of smart street lighting systems is gaining traction, providing features like remote monitoring, adaptive control, and connectivity with other urban infrastructure. Solar-powered Street lighting is also growing in popularity, particularly in regions with limited access to the electrical grid, as governments push large-scale projects to improve public safety while reducing dependency on traditional power sources. Additionally, Government incentives and regulations that encourage green technologies also speed up the transition to LED street lighting.

Report Coverage

This research report categorizes the global street lighting market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global street lighting market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global street lighting market.

Driving Factors

Increasing urbanization and infrastructural development are major drivers for the market's growth. High-speed urbanization generates the requirement for safe, efficient, and accessible public areas. Street lighting has an integral role to play in this respect. Energy efficiency and sustainability, on a general scale, have gained considerable traction in boosting LED street lighting.

Restraining Factors

The process of obtaining approvals and going through bureaucratic hurdles takes a lot of time, thus delaying the implementation of projects. These regulatory challenges can deter investments and hinder the overall growth of the market.

Market Segmentation

The global street lighting market share is classified into type and application.

• The LED lighting segment accounted for the largest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.

Based on the type, the global street lighting market is divided into traditional lighting and LED lighting. Among these, the LED lighting segment accounted for the largest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segment growth can be ascribed to the energy efficiency that LED lighting affords. It consumes much less electricity than its traditional lighting alternatives, such as high-pressure sodium (HPS) or metal halide lamps.

• The roadways segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the global street lighting market is divided into highways and roadways. Among these, the roadways segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.  The growth can be attributed to the increasing smart city initiatives which drive the growth of the market. Smart cities are aimed to improve the quality of urban life through the inclusion of technology into infrastructure and services.

Regional Segment Analysis of the Global Street Lighting Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global street lighting market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global street lighting market over the predicted timeframe. The regional growth is influenced by the widespread production and distribution of LED-based lighting systems. In addition, there are huge exporters of energy-efficient light solutions. The policies of many governments in the region are targeting energy-saving initiatives, such as LED bulbs replacing incandescent bulbs. The mission of the smart city is a project initiated by the Government of India for economic development to provide an upgraded lifestyle to local development through technical support.

North America is expected to grow at the fastest CAGR in the global street lighting market during the forecast period. North America's growth in the street lighting market is largely driven by government initiatives and regulations. Cities and states are enacting energy efficiency standards and sustainability goals that positively contribute to the uptake of energy-efficient street lighting solutions, which in turn drives the market's growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global street lighting market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Signify Holding
• Acuity Brands
• ams-OSRAM AG
• Cree Lighting USA LLC
• Cooper Lighting LLC
• Itron Inc.
• Hubbell
• Schréder
• Zumtobel Group
• Thorn
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In May 2023, Signify, formerly known as Philips Lighting, launched its first Philips Solar Light Hub in India. This exclusive retail store is located in Noida, Uttar Pradesh, and spans over 600 sq ft. The hub showcases a wide range of solar lighting products designed for various applications, including home, garden, industrial, and street lighting.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global street lighting market based on the below-mentioned segments: 

Global Street Lighting Market, By Type 

• Traditional Lighting
• LED Lighting

Global Street Lighting Market, By Application

• Highways
• Roadways

Global Street Lighting Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East and Africa