Outdoor LED Lighting Market Analysis, Growth, Trends, and Forecast by 2031

The outdoor LED lighting market size is projected to reach US$ 13.9 billion by 2031 from US$ 23.67 billion in 2023. The market is expected to register a CAGR of 6.90 % in 2023–2031. The promotion of national-level sports leagues driving the growth of stadiums is likely to remain key outdoor LED lighting market trends.

Outdoor LED Lighting Market Analysis

Due to its extended useful light, energy efficiency, and greater brightness, the market for outdoor LED lighting has grown significantly in the last few years. As technology has advanced, so too have the costs of these bulbs decreased. Streets, roads, parking lots, and pedestrian areas were the main outdoor areas that were illuminated by metal halide (MH) and high-pressure sodium (HPS) sources. These comparatively energy-efficient light sources have well-understood performance characteristics and have been around for a while. With many benefits over MH and HPS sources, LED lights have replaced HPS and MH lights in outdoor area lighting due to advancements in LED technology.

Outdoor LED Lighting Market Overview

LED lighting is fast becoming the best solution for a broad variety of outdoor lighting applications. LEDs are the most energy-efficient light on the market, they have the longest lifespan by 2-10 times over the nearest competitor technology, and they produce a very high-quality light with a variety of characteristics. They are steady-state, small lights, which means they don’t present the breaking or recycling issues common with legacy lighting technology. Outdoor LED lighting offers various benefits, such as brighter light, longer life, energy saving, durability, and flexibility.

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Outdoor LED Lighting Market: Strategic Insights

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Outdoor LED Lighting Market Drivers and Opportunities

Increasing adoption of LED lighting

Various adoption of LED lighting is growing. Various companies are launching new LES lighting. For instance, in October 2023, Halonix Technologies announced the launch of India's first 'UP-DOWN GLOW' LED Bulb, demonstrating its commitment to enriching lives through pioneering technology. Similarly, in May 2023, AV Modular launched its first-ever LED lighting range, the A-Series. Therefore, with such increasing launches, the adoption of LED lighting is growing, driving the market growth.

Increasing adoption of smart street lighting system

Streetlights can account for up to 40% of a city’s energy costs. Wireless street lighting control can cut that cost by half, and remote monitoring can detect broken lamps instantaneously so that a repair team can be dispatched before dark. This is why cities around the world are investing billions of dollars into this market. The LED lights are widely used in the smart street lighting systems. Thus, the increasing adoption of smart street lighting systems is anticipated to present new opportunities for the outdoor LED lighting market players during the forecast period.

Outdoor LED Lighting Market Report Segmentation Analysis

Key segments that contributed to the derivation of the outdoor LED lighting market analysis are installation, wattage, and applications.

• Based on the installation, the outdoor LED lighting market is segmented into new and retrofit.
• By wattage, the market is segmented into <50w, 50-100w, and >150w

• By application, the market is segmented into highways & roadways, public places, and architecture

Outdoor LED Lighting Market Share Analysis by Geography

The geographic scope of the outdoor LED lighting market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, North America accounted for the largest outdoor LED lighting market share. The US and Canada have been witnessing a significant expansion in their city limits and urban dwellings. The push for energy efficiency and environmental sustainability is rapidly transitioning its street lighting systems to outdoor LED technology in North America.  

Outdoor LED Lighting Market Regional Insights

The regional trends and factors influencing the Outdoor LED Lighting Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Outdoor LED Lighting Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Outdoor LED Lighting Market Report Scope

Outdoor LED Lighting Market Players Density: Understanding Its Impact on Business Dynamics

The Outdoor LED Lighting Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Outdoor LED Lighting Market are:

1. Cooper Industries plc (Eaton)
2. Cree, Inc
3. Dialight PLC
4. General Electric Company
5. Hubbell Incorporated
6. Osram Licht AG

Disclaimer: The companies listed above are not ranked in any particular order.

Outdoor LED Lighting Market News and Recent Developments

The outdoor LED lighting market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:

• In February 2022, Signify introduced high-performance lighting solutions for safer highways: Philips Skyline e-Way Brighter, efficient and future-ready LED streetlights. (Source: Lightsnled, Press Release)
• In March 2023, Syska Group, a pioneer in LED lighting technology, launched its all-new LED track lights. The design of these track lights is aimed at producing luminous and ambient illumination, which renders them ideal for generating a radiant ambiance in any area or nook. Syska LED has proudly manufactured LED track lights, adhering to the highest standards of quality and innovation. (Source: Syska Group, Press Release)

Outdoor LED Lighting Market Report Coverage and Deliverables

The “Outdoor LED Lighting Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles