Global Outdoor LED Lighting Market

Outdoor LED Lighting Market Size, Share, Growth Analysis, By Type(LED Street Lights, LED Floodlights, LED Landscape Lights, LED Bollards and Pathway Lights and driveways), By Application(Municipal Lighting, Commercial Lighting, Industrial Lighting, Sports and Stadium Lighting), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20E2042 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 68 |Figures: 75

Outdoor LED Lighting Market Insights

Outdoor LED Lighting Market size was valued at USD 19.9 billion in 2021 and is poised to grow from USD 21.9 billion in 2022 to USD 48.8 billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

The global outdoor LED lighting market is driven by the increasing adoption of energy-efficient lighting solutions, growing urbanization, and government initiatives promoting sustainable practices. Outdoor LED lighting offers numerous advantages, such as longer lifespan, reduced energy consumption, and lower maintenance costs, making it an attractive choice for various outdoor applications. As governments and organizations worldwide seek to reduce their carbon footprint and energy consumption, outdoor LED lighting has emerged as a viable solution to meet these objectives. Additionally, the ongoing phase-out of traditional incandescent and fluorescent bulbs further fuels the demand for LED lighting solutions in outdoor settings. The versatility of outdoor LED lighting solutions is another factor contributing to their growing popularity. These lighting systems are suitable for a wide range of applications, including street lighting, architectural lighting, parking lots, stadiums, and public spaces.

The ability to provide efficient illumination while reducing light pollution makes LED lighting an ideal choice for city planners and urban developers. Moreover, advancements in LED technology have led to enhanced product performance and increased affordability, making outdoor LED lighting more accessible to various end-users. As the cost of LED components continues to decline, the return on investment for adopting LED lighting solutions improves significantly, encouraging adoption across both public and private sectors.

US Outdoor LED Lighting Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 19.9 billion

Largest Segment

LED Street Lights

Fastest Growth

Growth Rate

10.5% CAGR

Global Outdoor LED Lighting Market ($ Bn)
Country Share for Asia - Pacific Region (%)

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Outdoor LED Lighting Market Segmental Analysis

The global outdoor led lighting market is segmented by type, Application, and region. Based on type, the market can be segmented into LED Street Lights, LED Floodlights, LED Landscape Lights, LED Bollards and Pathway Lights and driveways, Others. Based on application, the market is segmented into Municipal Lighting, Commercial Lighting, Industrial Lighting, Sports and Stadium Lighting, Architectural Lighting and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Outdoor LED Lighting Market Analysis by Type

Among the various types of outdoor LED lighting, the dominant type in the global market is LED Street Lights. LED Street Lights have gained significant popularity and widespread adoption due to their energy efficiency, long lifespan, and ability to provide bright and uniform illumination on roads and highways. Municipalities and governments worldwide are increasingly replacing traditional street lights with LED Street Lights to reduce energy consumption and maintenance costs while improving public safety.

On the other hand, the fastest growing type in the global outdoor LED lighting market is LED Floodlights. LED Floodlights are witnessing rapid growth in demand across residential, commercial, and industrial applications. These versatile lights are used to illuminate large outdoor areas, sports stadiums, parking lots, and building facades, offering enhanced visibility and security. The increasing focus on energy conservation, coupled with the desire for brighter and more efficient outdoor lighting solutions, is driving the adoption of LED Floodlights.

Outdoor LED Lighting Market Analysis by Application

Among the various applications of outdoor LED lighting in the global market, commercial lighting emerges as the most dominant application. The widespread adoption of outdoor LED lighting in commercial spaces, such as retail stores, offices, hotels, and restaurants, is driven by its energy efficiency, longer lifespan, and ability to create visually appealing environments. Commercial establishments recognize the cost-saving benefits of LED technology and the positive impact it has on enhancing the overall customer experience, contributing to the dominance of commercial lighting in the market.

On the other hand, the fastest growing application of outdoor LED lighting is Sports and Stadium Lighting. The increasing demand for energy-efficient lighting solutions in sports arenas, stadiums, and outdoor recreational spaces has fueled the growth of LED lighting in this segment. LED technology offers excellent illumination, improved visibility, and reduced energy consumption, making it an ideal choice for sports facilities aiming to optimize lighting conditions for players and spectators alike. Additionally, the push for sustainable and eco-friendly lighting solutions further propels the adoption of LED lighting in the sports and stadium sector.

Global Outdoor LED Lighting Market By Type, 2023 (%)

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Outdoor LED Lighting Market Regional Insights

Among the various regions contributing to the global outdoor LED lighting market, the most dominant region is Asia-Pacific. The Asia-Pacific region, encompassing countries such as China, India, Japan, South Korea, and others, has witnessed remarkable growth in the adoption of outdoor LED lighting solutions. The rapid urbanization, increasing infrastructural development, and government initiatives promoting energy-efficient lighting have been key factors driving the dominance of the Asia-Pacific region in the market.

On the other hand, the fastest growing region in the global outdoor LED lighting market is Middle East & Africa. This region has experienced significant growth in recent years due to a surge in urbanization and infrastructure development projects. Countries in the Middle East, in particular, have been investing heavily in smart city initiatives and sustainable lighting solutions, leading to a substantial demand for outdoor LED lighting products.

Global Outdoor LED Lighting By Geography, 2024-2031
  • Largest
  • Fastest

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Outdoor LED Lighting Market Dynamics

Outdoor LED Lighting Market Drivers

Environmental Benefits

  • LED lighting has a lower carbon footprint as it emits less greenhouse gasses during operation. The reduced energy consumption also helps in conserving natural resources and mitigating environmental impact, aligning with global efforts towards sustainability and eco-friendly practices.

Outdoor LED Lighting Market Restraints

Quality Concerns

  • In some cases, the market has witnessed the entry of substandard LED products that fail to meet quality and performance standards. This has raised concerns among potential buyers about the reliability and durability of LED lighting, impacting market growth.

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Outdoor LED Lighting Market Competitive Landscape

The global outdoor LED lighting market is highly competitive, with numerous players vying for market share. These companies are engaged in the design, manufacturing, and distribution of outdoor LED lighting products that cater to various applications, including street lighting, architectural lighting, landscape lighting, and industrial lighting, among others.

Outdoor LED Lighting Market Top Player’s Company Profiles

  • Acuity Brands, Inc. (US)
  • Eaton Corporation (Ireland)
  • Hubbell Incorporated (US)
  • Zumtobel Group (Austria)
  • Schneider Electric (France)
  • GE Lighting (US)
  • Thorn Lighting (UK)
  • Panasonic Corporation (Japan)
  • Signify (Netherlands)
  • Siteco Beleuchtungstechnik GmbH (Germany)
  • LSI Industries Inc. (US)
  • FSL Lighting (China)
  • Toshiba Corporation (Japan)
  • Wipro Lighting (India)
  • Havells India Limited (India)
  • Syska LED (India)
  • Bajaj Electricals Limited (India)

Outdoor LED Lighting Market Recent Developments

  • In May 2023, Signify announced that it had completed the acquisition of Fluence. Fluence is a leading provider of LED lighting solutions for the agricultural sector. This acquisition will allow Signify to expand its presence in the agricultural lighting market and offer a more comprehensive portfolio of solutions to growers.
  • In April 2023, Acuity Brands announced that it had launched a new line of outdoor LED lighting products. The new products are designed to be more energy-efficient and sustainable than traditional outdoor lighting products. They also offer a wider range of features and benefits, such as dimming and color-changing capabilities.
  • In March 2023, Osram announced that it had launched a new line of high-power LED modules for outdoor lighting. The new modules are designed to deliver high levels of light output and efficiency. They are also designed to be more durable and weather-resistant than traditional LED modules.
  • In February 2023, Philips Lighting announced that it had launched a new line of smart outdoor LED lighting products. The new products are designed to be connected to the internet and controlled using a smartphone or tablet. This allows users to remotely control the lighting, such as turning it on and off or changing the color.
  • In January 2023, Cree announced that it had launched a new line of outdoor LED lighting products that are designed to be more energy-efficient and sustainable. The new products use Cree's latest LED technology and are designed to meet the latest energy efficiency standards.

Outdoor LED Lighting Key Market Trends

  • Rapid Adoption of Smart and Connected Lighting Solutions: As advancements in Internet of Things (IoT) technology continue to revolutionize the lighting industry, outdoor LED lighting is witnessing a transformation from traditional lighting fixtures to intelligent and interconnected systems. Smart outdoor LED lighting solutions offer numerous benefits, including energy efficiency, remote monitoring and control, enhanced automation, and data-driven insights. These systems can be integrated into smart city initiatives, enabling cities to optimize energy consumption, improve public safety, and reduce operational costs. With the ability to adjust brightness levels based on real-time data and user preferences, smart outdoor LED lighting ensures optimal lighting conditions while minimizing energy wastage.

Outdoor LED Lighting Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to the analysis of the global outdoor LED lighting market, the increasing demand for energy-efficient lighting solutions and the growing emphasis on sustainability are driving market growth. Outdoor LED lighting systems offer significant advantages, including lower energy consumption, longer lifespan, and reduced environmental impact. These systems find extensive application in various industries, such as infrastructure, commercial, and residential sectors, to provide efficient and cost-effective outdoor lighting solutions. Moreover, stringent government regulations and initiatives promoting the adoption of energy-efficient lighting technologies are propelling the market. The shift towards smart cities and the integration of outdoor LED lighting with advanced control systems further contribute to the market's expansion. In terms of regional analysis, North America and Europe are prominent markets for outdoor LED lighting due to the high awareness of energy conservation, urban development projects, and favorable government policies. The Asia Pacific region is witnessing significant growth, driven by rapid urbanization, infrastructural development, and increasing awareness of energy efficiency. Additionally, the demand for outdoor LED lighting in emerging economies and large-scale infrastructure projects is boosting market growth in the Asia Pacific.

Report Metric Details
Market size value in 2023 USD 19.9 billion
Market size value in 2031 USD 48.8 billion
Growth Rate 10.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • LED Street Lights, LED Floodlights, LED Landscape Lights, LED Bollards and Pathway Lights and driveways, and Others.
  • Application
    • Municipal Lighting, Commercial Lighting, Industrial Lighting, Sports and Stadium Lighting, Architectural Lighting, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Acuity Brands, Inc. (US)
  • Eaton Corporation (Ireland)
  • Hubbell Incorporated (US)
  • Zumtobel Group (Austria)
  • Schneider Electric (France)
  • GE Lighting (US)
  • Thorn Lighting (UK)
  • Panasonic Corporation (Japan)
  • Signify (Netherlands)
  • Siteco Beleuchtungstechnik GmbH (Germany)
  • LSI Industries Inc. (US)
  • FSL Lighting (China)
  • Toshiba Corporation (Japan)
  • Wipro Lighting (India)
  • Havells India Limited (India)
  • Syska LED (India)
  • Bajaj Electricals Limited (India)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Outdoor LED Lighting Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Outdoor LED Lighting Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Outdoor LED Lighting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Outdoor LED Lighting Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Outdoor LED Lighting Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Outdoor LED Lighting Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Outdoor LED Lighting Market size was valued at USD 19.9 billion in 2021 and is poised to grow from USD 21.9 billion in 2022 to USD 48.8 billion by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

The outdoor LED lighting market is highly competitive, with numerous players vying for market share. These companies are engaged in the design, manufacturing, and distribution of outdoor LED lighting products that cater to various applications, including street lighting, architectural lighting, landscape lighting, and industrial lighting, among others. 'Philips Lighting (Netherlands)', 'Osram (Germany)', 'Cree, Inc. (US)', 'Acuity Brands, Inc. (US)', 'Eaton Corporation (Ireland)', 'Hubbell Incorporated (US)', 'Zumtobel Group (Austria)', 'Schneider Electric (France)', 'GE Lighting (US)', 'Thorn Lighting (UK)', 'Panasonic Corporation (Japan)', 'Signify (Netherlands)', 'Siteco Beleuchtungstechnik GmbH (Germany)', 'LSI Industries Inc. (US)', 'FSL Lighting (China)', 'Toshiba Corporation (Japan)', 'Wipro Lighting (India)', 'Havells India Limited (India)', 'Syska LED (India)', 'Bajaj Electricals Limited (India)'

LED lighting has a lower carbon footprint as it emits less greenhouse gasses during operation. The reduced energy consumption also helps in conserving natural resources and mitigating environmental impact, aligning with efforts towards sustainability and eco-friendly practices.

Rapid Adoption of Smart and Connected Lighting Solutions: As advancements in Internet of Things (IoT) technology continue to revolutionize the lighting industry, outdoor LED lighting is witnessing a transformation from traditional lighting fixtures to intelligent and interconnected systems. Smart outdoor LED lighting solutions offer numerous benefits, including energy efficiency, remote monitoring and control, enhanced automation, and data-driven insights. These systems can be integrated into smart city initiatives, enabling cities to optimize energy consumption, improve public safety, and reduce operational costs. With the ability to adjust brightness levels based on real-time data and user preferences, smart outdoor LED lighting ensures optimal lighting conditions while minimizing energy wastage.

Among the various regions contributing to the outdoor LED lighting market, the most dominant region is Asia-Pacific. The Asia-Pacific region, encompassing countries such as China, India, Japan, South Korea, and others, has witnessed remarkable growth in the adoption of outdoor LED lighting solutions. The rapid urbanization, increasing infrastructural development, and government initiatives promoting energy-efficient lighting have been key factors driving the dominance of the Asia-Pacific region in the market.

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Global Outdoor LED Lighting Market

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