Outdoor Area and Street Lighting: Market Analysis and Forecast 2014
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A worldwide push for LED outdoor lighting occurred in 2012, due in large part to various national and international political initiatives. 2 million LED luminaires were installed in tunnels and roadways during the year. Prices are forecasted to decline due to market competition. Energy consumption will continue to be a pressing issue as electricity cost and demand rise. The demand for more efficient and longer lasting LED lighting will continue to grow at an aggressive pace.
- Street light installations contributed 54% of the total revenue for the LED outdoor lighting market in 2012. These installations are forecast to increase worldwide in the coming years.
- Nearly all segments of the market show double digit growth in the coming year, with parking garage lighting anticipated to have the largest growth rate.
- China has created stricter equipment and installation requirements for subsidy programs like the 21 City program, which will increase LED outdoor lighting implementation.
- Rapid urbanization and heavy investment in infrastructures including roadways and shopping centers in countries like Taiwan, India, and Mexico has created large, emerging markets for the energy efficient LED technologies.
This insightful report analyzes the market for LED outdoor area and street lighting from 2010 to 2012 and offers a forecast through 2017.