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Outdoor LED Lighting Market Growth, Share, Opportunities and Forecast by 2022

The Outdoor LED Lighting Market is projected to reach USD 21.95 Billion by 2023, at a CAGR of 13.7% between 2017 and 2023

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Outdoor LED Lighting Market Growth, Share, Opportunities and Forecast by 2022

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  1. Outdoor LED Lighting Market Growth, Share, Opportunities and Forecast by 2022 “The Outdoor LED Lighting Market is projected to reach USD 21.95 Billion by 2023, at a CAGR of 13.7% between 2017 and 2023.” The Outdoor LED Lighting Market is projected to reach USD 21.95 Billion by 2023, at a CAGR of 13.7% between 2017 and 2023. The growth of the market can be attributed to the increasing need for energy- efficient lighting systems across the globe, reduction in the prices of LEDs, and increasing penetration of LED lights as a light source in the outdoor applications, such as architectural, highways & roadways, and public places, among others. In 2016, the highways & roadways end-use application segment led the outdoor LED lighting market. However, the public places segment of the market is projected to grow at the highest CAGR during the forecast period, 2017 to 2023. The growth of the public places segment of the market can be attributed to the increasing infrastructural activities across the globe. The retrofit installation type segment of the outdoor LED lighting market is projected to grow at the highest CAGR during the forecast period. The growth of the retrofit installation type segment of the market is due to the increasing replacement of incandescent lamps in the existing infrastructures with energy-efficient light sources such as LED lamps. These incandescent lamps are being slowly phased out, and the fixtures are being retrofitted with LED lamps as they have a long lifespan and consume less energy. The hardware offering segment is expected lead the outdoor LED lighting market from 2017 to 2023. The growth of the hardware offering segment can be attributed to the increasing demand for LED luminaries from the new installations across the globe. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=211822268

  2. The new installation type segment is projected to lead the outdoor LED lighting market during the forecast period, 2017 to 2023. The new installation type segment is projected to lead the outdoor LED lighting market from 2017 to 2023 due to the installation of new-generation LED lamps and luminaires across the globe. Consumers prefer outdoor LED lighting for new installations, owing to various advantages offered by it, which include a long lifespan and reduced consumption of electricity. Although the cost of the outdoor LED lighting technology is high, its installation and maintenance costs are low. The between 50W and 150W wattage type segment is projected to lead the outdoor LED lighting market during the forecast period, 2017 to 2023. The between 50W to 150W wattage type segment is projected to lead the outdoor LED lighting market during the forecast period. The growth of this segment of the market can be attributed to increased adoption of outdoor LED lighting across the globe due to its energy efficiency and low maintenance costs. LED lights and luminaires with a wattage range between 50W and 150W are widely used across highways & roadways. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=211822268 The Asia Pacific outdoor LED lighting market is projected to grow at the highest CAGR during the forecast period. The Asia Pacific outdoor LED lighting market is projected to grow at the highest CAGR from 2017 to 2023. The growth of the Asia Pacific outdoor LED lighting market can be attributed to the ongoing modernization and infrastructure development projects, such as smart cities across the region. Countries such as Australia, Taiwan, Singapore, and Vietnam, among others of the Asia Pacific region are experiencing fast economic growth and urbanization, thereby contributing to a significant demand for outdoor LED lighting systems in these countries. The report profiles the top players in the outdoor LED lighting market, which include Philips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), OSRAM Licht AG (Germany), Hubbell Incorporated (U.S.), Cree, Inc. (U.S.), Eaton Corporation Plc. (U.S.), SYSKA LED (India), Virtual Extension (Israel), Dialight plc (U.K.), and Zumtobel Group AG (Austria), among others. The report also analyzes the market trends for each of the market segments and their respective growth rates.

  3. About MarketsandMarkets MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 stomers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Contact: Mr. Shelly Singh MarketsandMarkets INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:sales@marketsandmarkets.com

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