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Global LED Street Light Market Size, Share, Growth, Analysis: By Application: Retrofit, Retail & Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global LED Street Light Market Outlook
The global LED street light market size was around USD 16.12 billion in 2023. The market is further projected to grow at a CAGR of 26.3% over the forecast period of 2024-2032.
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The global LED street light market is being driven by the rising environmental concern and the growing demand for eco-friendly products. The rapid technological advancement is further supporting the LED street light industry growth globally. As LED street lights are energy-efficient and cost-effective, they are increasingly being adopted for several outdoor lighting applications. As compared to the conventional lights such as fluorescent and incandescent lights, these lighting options consume almost 50-70% less electricity. Thus, their use in places like urban areas, small-town main streets, commercial districts, interstate highway interchanges, and rural intersections is witnessing a healthy growth.
Their use in developed as well as developing nations are experiencing a significant growth owing to the rising awareness regarding climate change. In India, a developing region, the government has taken various initiatives for the promotion and distribution of LED bulb under domestic efficient lighting programme, while in the United States, the New York State Energy Research and Development Authority (NYSERDA) project aims to create a more affordable pathway to LED street light conversion in the country. Such trends are expected to have a positive impact on the global LED street light market in the coming years.
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LED Street Light Market Segmentation
With the evolution of LED technology, the production cost of LED lighting has reduced, offering simultaneous improvements in their efficiency and performance. These enhancements are leading to the incorporation of streetlights with energy-efficient, modern LED systems, thus utilising this technology for lighting roadways and exterior areas. This has further resulted in the development of connected city lighting networks. LED streetlights, being cost-effective and environmentally friendly, are considered as one of the best lighting alternatives for traditional streetlights.
On the basis of applications, the LED street light industry is divided into:
- Retrofit
- Retail and Hospitality
- Outdoor
- Offices
- Architectural
- Residential
- Industrial
- Others
The report also covers the major regional markets in the global LED street light market, which include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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LED Street Light Market Analysis
The global LED street light market is being supported by the rising environmental concern and growing awareness regarding the benefits of LED lights over traditional lights, such as compact fluorescent and incandescent lamps. Further, the growing industrialisation and rapid urbanisation, particularly in the emerging economies, is leading to the development of the smart cities. The development of the smart cities is one of the major trends driving the growth of the global LED street light industry.
LED street lights have a longer life span and consume lower energy than traditional lighting systems, which is leading to their increased installations across the globe. Further, with the rapid advancement in technology, the development and incorporation of connected LED street lighting in smart cities projects, is boosting the industry growth. The deployment of connected street lighting systems through a mobile network with a Centralised Management System (CMS) allows city managers to control as well as monitor lighting assets remotely. Thus, the benefits offered by connected LED street lighting system has resulted in its growth, further becoming a preferred choice for use among consumers.
Moreover, stringent government regulations pertaining to the use of sustainable products, are providing a boost to the industry. For instance, as of September 2020, the Government of Malaysia has announced that it will replace all the streetlights in the region from incandescent/fluorescent bulbs to LED lights. Such initiatives are expected to further aid the global LED street light industry over the forecast period.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global LED street light market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- XtraLight
- Niland
- Pemco Lighting Products, LLC
- Pkk Lighting, Inc
- Eaton
- NIPSCO Inc
- Wendel
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| Report Features | Details |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global LED Lighting Market Overview
8.1 Key Industry Highlights
8.2 Global LED Lighting Historical Market (2018-2023)
8.3 Global LED Lighting Market Forecast (2024-2032)
8.4 Global LED Lighting Market by Product Type
8.4.1 LED Lamps
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Modules
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Fixtures
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Global LED Lighting Market by Application
8.6 Global LED Lighting Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Global LED Street Light Market Analysis
9.1 Key Industry Highlights
9.2 Global LED Street Light Historical Market (2018-2023)
9.3 Global LED Street Light Market Forecast (2024-2032)
9.4 Global LED Street Light Market by Application
9.4.1 Retrofit
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2023)
9.4.1.3 Forecast Trend (2024-2032)
9.4.2 Retail & Hospitality
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2023)
9.4.2.3 Forecast Trend (2024-2032)
9.4.3 Outdoor
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2023)
9.4.3.3 Forecast Trend (2024-2032)
9.4.4 Offices
9.4.4.1 Market Share
9.4.4.2 Historical Trend (2018-2023)
9.4.4.3 Forecast Trend (2024-2032)
9.4.5 Architectural
9.4.5.1 Market Share
9.4.5.2 Historical Trend (2018-2023)
9.4.5.3 Forecast Trend (2024-2032)
9.4.6 Residential
9.4.6.1 Market Share
9.4.6.2 Historical Trend (2018-2023)
9.4.6.3 Forecast Trend (2024-2032)
9.4.7 Industrial
9.4.7.1 Market Share
9.4.7.2 Historical Trend (2018-2023)
9.4.7.3 Forecast Trend (2024-2032)
9.4.8 Others
9.5 Global LED Street Light Market by Region
9.5.1 Market Share
9.5.1.1 North America
9.5.1.2 Europe
9.5.1.3 Asia Pacific
9.5.1.4 Latin America
9.5.1.5 Middle East and Africa
10 Regional Analysis
10.1 North America
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Country
10.1.3.1 United States of America
10.1.3.2 Canada
10.2 Europe
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Country
10.2.3.1 United Kingdom
10.2.3.2 Germany
10.2.3.3 France
10.2.3.4 Italy
10.2.3.5 Others
10.3 Asia Pacific
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.3.3 Breakup by Country
10.3.3.1 China
10.3.3.2 Japan
10.3.3.3 India
10.3.3.4 ASEAN
10.3.3.5 Australia
10.3.3.6 Others
10.4 Latin America
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.4.3 Breakup by Country
10.4.3.1 Brazil
10.4.3.2 Argentina
10.4.3.3 Mexico
10.4.3.4 Others
10.5 Middle East and Africa
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.5.3 Breakup by Country
10.5.3.1 Saudi Arabia
10.5.3.2 United Arab Emirates
10.5.3.3 Nigeria
10.5.3.4 South Africa
10.5.3.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyers Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Manufacturing Process
13.1 Detailed Process Flow
13.2 Raw Material Requirements
13.3 Product Overview and Specifications
14 Price Analysis
15 Project Details, Requirements and Costs Involved
15.1 Land Requirements and Expenditures
15.2 Construction Requirements and Expenditures
15.3 Plant Machinery
15.4 Machinery Pictures
15.5 Raw Material Requirements and Expenditures
15.6 Raw Material and Final Product Pictures
15.7 Packaging Requirements and Expenditures
15.8 Transportation Requirements and Expenditures
15.9 Utility Requirements and Expenditures
15.10 Manpower Requirements and Expenditures
15.11 Other Capital Investments
16 Loans and Financial Assistance
17 Project Economics
17.1 Capital Cost of the Project
17.2 Techno-Economic Parameters
17.3 Product Pricing and Margins Across Various Levels of the Supply Chain
17.4 Taxation and Depreciation
17.5 Income Projections
17.6 Expenditure Projections
17.7 Financial Analysis
17.8 Profit Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Key Players’ Market Share
18.3 Company Profiles
18.3.1 XtraLight
18.3.1.1 Company Overview
18.3.1.2 Product Portfolio
18.3.1.3 Demographic Reach and Achievements
18.3.1.4 Certifications
18.3.2 Niland
18.3.2.1 Company Overview
18.3.2.2 Product Portfolio
18.3.2.3 Demographic Reach and Achievements
18.3.2.4 Certifications
18.3.3 Pemco Lighting Products, LLC
18.3.3.1 Company Overview
18.3.3.2 Product Portfolio
18.3.3.3 Demographic Reach and Achievements
18.3.3.4 Certifications
18.3.4 Pkk Lighting, Inc
18.3.4.1 Company Overview
18.3.4.2 Product Portfolio
18.3.4.3 Demographic Reach and Achievements
18.3.4.4 Certifications
18.3.5 Eaton
18.3.5.1 Company Overview
18.3.5.2 Product Portfolio
18.3.5.3 Demographic Reach and Achievements
18.3.5.4 Certifications
18.3.6 NIPSCO Inc
18.3.6.1 Company Overview
18.3.6.2 Product Portfolio
18.3.6.3 Demographic Reach and Achievements
18.3.6.4 Certifications
18.3.7 Wendel
18.3.7.1 Company Overview
18.3.7.2 Product Portfolio
18.3.7.3 Demographic Reach and Achievements
18.3.7.4 Certifications
18.3.8 Others
19 Industry Events and Developments
List of Key Figures and Tables
1. Global LED Lighting Market: Key Industry Highlights, 2018 and 2032
2. Global LED Lighting Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global LED Lighting Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global LED Lighting Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global LED Lighting Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global LED Lighting Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global LED Lighting Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. Global LED Street Light Market: Key Industry Highlights, 2018 and 2032
9. Global LED Street Light Historical Market: Breakup by Application (USD Billion), 2018-2023
10. Global LED Street Light Market Forecast: Breakup by Application (USD Billion), 2024-2032
11. Global LED Street Light Historical Market: Breakup by Region (USD Billion), 2018-2023
12. Global LED Street Light Market Forecast: Breakup by Region (USD Billion), 2024-2032
13. North America LED Street Light Historical Market: Breakup by Country (USD Billion), 2018-2023
14. North America LED Street Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
15. Europe LED Street Light Historical Market: Breakup by Country (USD Billion), 2018-2023
16. Europe LED Street Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
17. Asia Pacific LED Street Light Historical Market: Breakup by Country (USD Billion), 2018-2023
18. Asia Pacific LED Street Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
19. Latin America LED Street Light Historical Market: Breakup by Country (USD Billion), 2018-2023
20. Latin America LED Street Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
21. Middle East and Africa LED Street Light Historical Market: Breakup by Country (USD Billion), 2018-2023
22. Middle East and Africa LED Street Light Market Forecast: Breakup by Country (USD Billion), 2024-2032
23. Global LED Street Light Market Structure
Key Questions Answered in the Report
The global LED street light market reached a value of USD 16.12 billion in 2023.
The market is projected to grow at a CAGR of nearly 26.3% in the forecast period of 2024-2032.
The major drivers of the industry include rising disposable incomes, increasing population, rising construction industry, rising environmental concern, growing awareness regarding the benefits of LED lights, growing industrialisation, development of the smart cities, and rapid urbanisation.
The strict government regulations pertaining to the use of sustainable products like LED lighting is expected to be a key trend guiding the growth of the industry.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The leading application segments in the industry are retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial, among others.
The leading players in the market are XtraLight, Niland, Pemco Lighting Products, LLC, Pkk Lighting, Inc, Eaton, NIPSCO Inc, and Wendel, among others.
Analyst Review
The global LED street light market attained a value of USD 16.12 billion in 2023 driven by the rapid advancement in technology. Aided by the growing demand for eco-friendly products, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 26.3%.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. On the basis of application, the industry can be divided into retrofit, retail and hospitality, outdoor, offices, architectural, residential, and industrial, among others. The major regional markets for LED street light are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include XtraLight, Niland, Pemco Lighting Products, LLC, Pkk Lighting, Inc, Eaton, NIPSCO Inc, and Wendel, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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