Asia-Pacific $10.6 Bn Outdoor Lighting Market to 2024 - Shift from Conventional Lights Toward Solar Powered Lights

DUBLIN, June 20, 2019 /PRNewswire/ -- The "Asia-Pacific Outdoor Lighting Market by Lighting Type, by Component, by Application, by Distribution Channel, by Country Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.

Asia-Pacific (APAC) outdoor lighting market is predicted to attain a size of $10.6 billion by 2024, progressing at a CAGR of 11.1%

This is attributed to the increasing government initiatives promoting energy efficiency and the development of smart, LED-based outdoor lighting systems. In the APAC region, the growing number of smart city projects is creating ample opportunities for the players in the market.

On the basis of lighting type, the APAC outdoor lighting market is divided into fluorescent lights, light-emitting diode (LED) lights, high-intensity discharge (HID) lamps, and plasma lamps. Among these, the LED lights category is projected to witness the fastest growth during the forecast period. This is ascribed to the rising demand for LED-based lighting in various applications areas, especially highways, stadiums, and tunnels. Moreover, countries such as India, China, and South Korea are offering subsidies to users to replace incandescent lights with LEDs.

The APAC outdoor lighting market is classified into retail and commercial distribution channels. Of these, in 2018, the commercial channel held the larger revenue share in the market due to the escalating demand for LED-based street lights in commercial spaces, such as parking lots, highways, airports, jogging tracks, bridges, and streets. End users including government organizations, contractors, and private builders prefer to buy lighting products directly from the manufacturers, leading to the growth of this category.

The APAC outdoor lighting market is expected to register the fastest CAGR in India during 2019-2024 owing to the introduction of smart lighting solutions, advent of intelligent lighting technologies, and rapid upgradation in outdoor lighting systems in the country. The eco-friendliness and cost-effectiveness of LED lights along with the development of smart cities are boosting the adoption of such lights in the country. Additionally, the rising number of LED lights projects in areas such as Delhi, Maharashtra, and West Bengal are bolstering the sector in India.

Increasing government initiatives in APAC countries to promote energy conservation and efficiency are strengthening the growth of the APAC outdoor lighting market. There are various energy-efficiency projects lined up in the APAC region, which can decrease greenhouse gas emissions and thermal pollution. For instance, in 2015, the Indian government launched the Street Light National Programme (SLNP) to encourage the use of energy-efficient lighting products in the country. Under the project, the government aimed to replace 35 million conventional lights with LED lights.

Furthermore, in 2016, the Institute of Public Works Engineering Australasia (IPWEA) and the Government of Australia jointly launched the Street Lighting and Smart Controls Programme to encourage the adoption of LED lights to raise energy efficiency. Therefore, such initiatives to minimize energy consumption are boosting the APAC outdoor lighting market growth.

Market Dynamics

Trends

• Shift from conventional lights toward solar powered lights
• Growing demand for smart lights
• Increasing penetration of China manufactured lights

Drivers

• Rising infrastructure development
• Increasing government initiatives towards energy efficiency
• Rising adoption of LED lights
• Restraint
• High import duties

Opportunities

• Increasing number of smart cities in APAC
• Upcoming sports events in APAC

Asia-Pacific Outdoor Lighting Market Segmentation

Market Segmentation by Lighting Type

• HID Lamps
• LED Lights
• Fluorescent Lights
• Plasma Lamps

Market Segmentation by Component

• Fixture
• Control

Market Segmentation by Application

• Street Lighting
• Highways
• Parking Lots
• Stadiums
• Tunnel Lights
• Others (Gardens, Parks, Business Parks, and Agriculture)

Market Segmentation by Distribution Channel

• Commercial
• Retail

Market Segmentation by Country

China Outdoor Lighting Market

• By lighting type
• By component
• By application
• By distribution channel

India Outdoor Lighting Market

• By lighting type
• By component
• By application
• By distribution channel

Japan Outdoor Lighting Market

• By lighting type
• By component
• By application
• By distribution channel

South Korea Outdoor Lighting Market

• By lighting type
• By component
• By application
• By distribution channel

Australia Outdoor Lighting Market

• By lighting type
• By component
• By application
• By distribution channel

Rest of Asia-Pacific outdoor lighting market

• By lighting type
• By component
• By application
• By distribution channel

Companies Mentioned

• General Electric Company
• Osram Licht AG
• Hubbell Incorporated
• Cree, Inc.
• Eaton Corporation plc
• Signify N.V.
• Syska LED Lights Pvt Ltd.
• Virtual Extension
• Dialight Plc
• Zumtobel Group AG

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