Shipments of Luminaires for Outdoor Applications Are Expected to Grow at 1.5% Compound Annual Growth Rate from 2020-2029
Market growth for outdoor lighting is attributed to a continued interest in lighting controls, driven by smart streetlighting deployments and controls for commercial sites
A new report from Guidehouse Insights examines the global market for outdoor lighting and controls, providing a brief analysis of market issues with forecasts for luminaire and lamp unit shipments and revenue, through 2029.
Businesses and governments have turned to more energy efficient outdoor lighting systems with goals of decreasing energy, operating costs, and emissions while meeting sustainability targets. As the efficacy of LEDs has increased and the price has declined, this lighting technology has become more desirable as an investment for outdoor lighting applications. LEDs have continued to penetrate the market and take market share from traditional lighting technologies such as high pressure sodium (HPS), metal halide, induction, and fluorescents. Click to tweet: According to a new report from @WeAreGHInsights, global shipments of luminaires for outdoor applications are anticipated to grow at a compound annual growth rate (CAGR) of 1.5% from 2020 to 2029.
“During the same 10-year period, lamp shipments for outdoor lighting applications are expected to decrease by 2.2% globally, which represents a lessening need to replace lamps as lighting technologies become more efficient and the installed base becomes more saturated with LEDs,” says Krystal Maxwell, senior research analyst with Guidehouse Insights. “Likewise, global revenue for both luminaire and lamps over the forecast period is expected to diminish as LED prices continue to decline.”
According to the report, growth in the outdoor lighting market is attributed to a continued interest in lighting controls, driven by smart streetlighting deployments and controls for commercial site lighting. Lighting controls, although also on the rise, have not seen the same levels of adoption as LEDs. More advanced controls have begun to see an uptick in adoption, though it is still limited.
The report, Market Data: Outdoor Lighting Systems, examines the global market for outdoor lighting and controls in city parks and public areas, sports parks, commercial site lighting, parking lots, parking garages, university and college campuses, roadways and highways, and other outdoor lighting applications. The study provides a brief analysis of the market issues, developments, and regional trends surrounding outdoor lighting systems. Global market forecasts for luminaire and lamp unit shipments and revenue, segmented by lamp type, product type, application area, and region, extend through 2029. The forecast also includes lighting controls unit shipments and revenue for motion sensors, photosensors, intelligent controls, and controls software. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Market Data: Outdoor Lighting Systems, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.