Outdoor Lighting Fixture Demand to Grow 6.7% Annually Through 2022
Highway and street construction will support continued strong growth
CLEVELAND, May 21, 2018 /PRNewswire/ -- Demand for outdoor fixtures is expected to increase 6.7% per year to $5.5 billion in 2022. A wide variety of fixtures are installed outdoors, including area and floodlighting, roadway lighting, and other types such as spotlighting and nonroadway high-mast lighting. Demand will benefit less from building construction activity than it did during the construction market's rapid expansion in the 2012-2017 period, when it was recovering from recessionary declines. However, acceleration in nonbuilding construction – highway and street construction in particular – will support continued strong growth. These and other trends are presented in General Purpose Lighting Fixtures in the US, 14th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here: https://www.freedoniagroup.com/industry-study/general-purpose-lighting-fixtures-in-the-us-by-product-market-and-region-14th-edition-3637.htm
A number of factors will benefit sales, including:
- healthy growth in overall construction activity and acceleration in nonbuilding construction
- continued upgrades of roadway lighting to LEDs, encouraging the installation of many new fixtures
- increasing consumer interest in outdoor living, supporting strong growth for area and floodlighting
The US market for general purpose lighting fixtures in all applications is forecast to expand 5.5% per year to $26.3 billion in 2022. Lighting fixtures are installed as part of new and improvement construction, so healthy growth in all major construction markets will boost fixture sales. Gains will be fastest in nonresidential building and roadway applications as businesses, municipalities, and utilities continue to be proactive in upgrading lighting systems to improve energy efficiency.
Related studies include:
#3655 Smart Lighting (Q3 2018)
#3611 General Purpose LEDs & Other High-Efficiency Lighting in the US (March 2018)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Consumer Goods studies can be purchased at https://www.freedoniagroup.com/, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group
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