New installation type to register the largest market share in the
forecast period
With the ongoing developments across the globe, the increasing
technological investments towards infrastructure will evidently tend to the new
installations in the outdoor LED lighting market. Increased infrastructure and
construction projects for various applications, like highways, stadiums,
tunnels, etc., will require new installations for new projects.
Hence, the new installations segment will hold a larger market
share throughout the forecast period.
The streets and roads application segment are likely to dominate
the outdoor LED lighting market from 2022 to 2027
According to market estimates, the streets and roads segment is
expected to account for the largest market share throughout the forecast period
due to rapid urbanization and government efforts to reduce energy consumption
by adopting LED lighting solutions. Streets and roadways are continuously
illuminated; hence, there is a high requirement for energy.
Therefore, switching to LED lighting is a better choice. Streets
and roadways are expected to provide lucrative opportunities to outdoor LED
lighting market players.
Europe is projected to account for the second-largest market share
in the outdoor LED lighting market
The outdoor LED lighting market in Europe considers Germany,
France, Italy, UK, and Rest of Europe for the study. These countries are
expected to drive the LED lighting market growth in Europe in the future. The
LED lighting market in Europe is highly fragmented, with the presence of
several large and medium-sized companies offering products for various
applications considered in this study.
Germany has more than 50 medium-sized companies that manufacture
LED lighting products. The sustainable policies of the government in this
region drive the demand for the outdoor LED lighting market. Two recent policy
measures - updated Eco-design regulations and RoHS Directive regulations
governing hazardous substances in electrical equipment - will shift the EU
market away from conventional mercury-containing fluorescent lighting to
advanced LED lighting technology.
