Street Lighting Market Size, Share & Trends Analysis Report By Type (Traditional Lighting, LED Lighting), By Application (Highways, Roadways), By Region (North America, Asia Pacific), And Segment Forecasts, 2024 - 2030
The global street lighting market size was valued at USD 9.10 billion in 2023 and is expected to grow at a CAGR of 3.6% from 2024 to 2030. The growing urbanization and infrastructure development projects drive the market's growth. As the global population increasingly moves toward urban areas, cities are expanding, and new urban zones are being developed. This rapid urbanization creates a heightened demand for infrastructure that supports safe and functional public spaces, with street lighting playing a vital role in this process.
Street lighting ensures visibility and safety in urban environments, particularly during nighttime. As cities grow, the need for extensive, reliable street lighting networks becomes more pressing. New residential areas, commercial zones, and public spaces require well-planned lighting systems to enhance security, facilitate transportation, and promote social and economic activities after dark.
Moreover, the growing emphasis on energy efficiency and sustainability is significantly boosting the adoption of LED street lighting. Traditional streetlights, such as high-pressure sodium lamps, are being replaced by energy-efficient LED lights, which consume less power and have a longer lifespan. This shift is driven by the need to reduce energy consumption, lower carbon emissions, and decrease municipal operational costs. Additionally, government incentives and regulations promoting green technologies accelerate the transition to LED street lighting.
Many cities and towns are undertaking retrofit and modernization projects to replace outdated street lighting infrastructure with new, energy-efficient, smart lighting systems. These projects are often driven by the need to reduce operational costs, improve lighting quality, and comply with new energy regulations. The growing trend of upgrading existing street lighting systems creates significant opportunities for market players, especially in developed regions with well-established infrastructure that need modernization.
The street lighting market is subject to various regulatory frameworks, which can vary widely across regions. A lack of standardized regulations and guidelines for deploying street lighting systems, especially smart lighting, can create confusion and slow adoption. Additionally, obtaining approvals and navigating through bureaucratic hurdles can be time-consuming, leading to delays in project implementation. These regulatory challenges can deter investments and hinder the market's overall growth.
Global Street Lighting Market Report Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global street lighting market report based on type, application, and region:
Type Outlook (Revenue, USD Million, 2018 - 2030)
Traditional Lighting
LED Lighting
Application Outlook (Revenue, USD Million, 2018 - 2030)
Highways
Roadways
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Asia Pacific
China
India
Japan
Australia
South Korea
Latin America
Brazil
Middle East & Africa
UAE
Kingdom of Saudi Arabia
South Africa
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.4. Information Analysis
1.4.1. Market Formulation & Data Visualization
1.4.2. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.2. Market Restraint Impact Analysis
3.3.3. Market Opportunity Impact Analysis
3.4. Industry Analysis Tools
3.4.1. Porter's Analysis
3.4.1.1. Bargaining power of the suppliers
3.4.1.2. Bargaining power of the buyers
3.4.1.3. Threats of substitution
3.4.1.4. Threats from new entrants
3.4.1.5. Competitive rivalry
3.4.2. PESTEL Analysis
3.4.2.1. Political landscape
3.4.2.2. Economic and Social landscape
3.4.2.3. Technological landscape
3.4.2.4. Environmental landscape
3.4.2.5. Legal landscape
Chapter 4. Street Lighting Market: Type Estimates & Trend Analysis
4.1. Type Movement Analysis & Market Share, 2023 & 2030
4.2. Street Lighting Market Estimates & Forecast, By Type
4.2.1. Traditional Lighting
4.2.1.1. Traditional Lighting Markets Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.2.2. LED Lighting
4.2.2.1. LED Lighting Markets Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Street Lighting Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2023 & 2030
5.2. Street Lighting Market Estimates & Forecast, By Application