Overview:

The global market for street and roadway lighting is poised for steady expansion in the coming decade. Projections indicate a market size of approximately USD 10.7 billion in 2025, escalating to an estimated USD 18.1 billion by 2035. This reflects a compound annual growth rate (CAGR) of 5.4% throughout the forecast period.

This growth is attributed to increasing urbanization, infrastructural developments, and a growing emphasis on energy-efficient lighting solutions. Governments and municipalities worldwide are investing heavily in upgrading their street and roadway lighting systems to enhance safety and reduce energy consumption.

LED technology is expected to dominate the market, driven by its superior energy efficiency, longer lifespan, and reduced maintenance costs compared to traditional lighting systems. The adoption of smart lighting solutions, incorporating sensors and communication technologies, is also gaining traction.

Regionally, Asia-Pacific is projected to be the fastest-growing market, fueled by rapid urbanization and infrastructure development in countries like China and India. North America and Europe will also contribute significantly to market growth, driven by stringent energy efficiency regulations and the replacement of aging infrastructure.

Key players in the market include companies focused on offering advanced lighting solutions and integrated smart city technologies. These companies are continuously innovating to provide energy-efficient and cost-effective lighting solutions that meet the evolving needs of cities and communities.

The market’s future growth is also influenced by the increasing adoption of renewable energy sources, such as solar power, for street and roadway lighting. Focus on sustainable and eco-friendly solutions will further drive the market.

Year On Year Growth Chart

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Key Companies Market Share