The Street Lighting Market is expanding with demand for energy-efficient LED and smart lighting solutions, driven by urbanization, smart city initiatives, and sustainability efforts worldwide.
Austin, March 04, 2025 (GLOBE NEWSWIRE) — Street Lighting Market Size & Growth Insights:
According to the SNS Insider,“The Street Lighting Market Size was valued at USD 10.93 billion in 2023 and is projected to reach USD 16.52 billion by 2032, growing at a CAGR of 4.70% from 2024 to 2032.”
The increasing demand for LED lighting, integration of IoT, and the expansion of smart city projects are key factors driving this exponential growth.
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Leading Market Players with their Product Listed in this Report are:
- Acuity Brands (USA) [Lighting Solutions]
- ams-OSRAM AG (Germany) [Optoelectronic Products]
- Signify Holding (Netherlands) [LED Lighting]
- Cree Lighting LLC (USA) [LED Fixtures]
- Zumtobel Group (Austria) [Professional Lighting]
- Cooper Lighting LLC (USA) [Commercial Lighting]
- Hubbell (USA) [Electrical and Lighting Products]
- Schréder (Belgium) [Outdoor Lighting Solutions]
- Thorn (UK) [Architectural Lighting]
- Itron Inc. (USA) [Smart Metering and Lighting Solutions]
- Philips Lighting N.V. (Netherlands) [Smart Lighting Systems]
- K-LITE (India) [LED Lighting Solutions]
- OSRAM GmbH (Germany) [Lighting Solutions and Components]
- Panasonic (Japan) [LED Lighting]
- Toshiba Lighting (Japan) [General Lighting Solutions].
Street Lighting Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 10.93 Billion |
| Market Size by 2032 | USD 16.52 Billion |
| CAGR | CAGR of 4.70% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Traditional Lighting, LED Lighting) • By Application (Highways, Roadways) |
| Key Drivers | • Revolutionizing urban lighting with energy-efficient solutions enhances safety, reduces energy consumption, and supports sustainability goals in cities worldwide. • The street lighting market provides opportunities for customizable and scalable smart lighting solutions. |
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Key Industry Segmentation
By Type – LED Lighting Dominates, Traditional Lighting Registers Fastest Growth
The LED lighting segment dominated the market and accounted for the largest market share of around 75% in 2023, owing to its demand for energy efficiency, durability, and low maintenance cost. LED retrofit programs are now being implemented by governments worldwide, replacing the traditional streetlight with smart, LED-based streetlight solutions. The growing shift towards smart and connected lighting solutions is also propelling this segment growth.
The traditional lighting segment is expected to register the fastest CAGR during the projection time frame. This is caused by the surge in infrastructure projects in developing countries whose bottom line prevents mass adoption of LEDs set at an initial price. Nonetheless, its long-term growth would likely be restrained by tighter energy regulations.
By Application – Roadways Dominate, Highways Grow at Fastest Pace
The roadways segment dominated the market and accounted for 69% of revenue share, owing to increasing urban infrastructure development and the growing demand for illuminated roads to provide safety for both pedestrians and vehicles. Adaptive lighting is being used globally by governments for better security and accident prevention, also for better visibility at night.
The highways segment is projected to experience the fastest growth rate, as more investments are being directed towards expansion and development of highways and expressways. With the advancement of smart LED bulbs and solar-powered lights, the use of such lights is increasing along the highway as they do not require a continuous supply of electricity and are cost-effective.
Asia-Pacific Dominates, North America Registers Fastest CAGR in the Evolving Street Lighting Market
The Asia-Pacific region dominated the market and accounted for 41% of revenue share, due to urbanization, building of large infrastructure projects, and government steps to promote energy-efficient lighting. Many of the nations such as China, India, and Japan, have begun to invest greatly in smart city developments and the swift adaptation of solar-powered, adaptive street lighting solutions. Meanwhile, mark-free heating is being propelled by government-imposed energy efficiency and carbon reduction measures.
North America is anticipated to grow at the most rapid CAGR on account of advancement in technology, surge in popularity of IoT-based lighting systems, and government-supported smart city projects. Cities including New York and Los Angeles are moving to upgrade streetlights with LED and connected lighting technologies, backed by significant funding and regulatory support.
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Recent Developments in the Street Lighting Market (2024)
- February 2024: Signify launched a new range of IoT-enabled smart streetlights, enhancing connectivity and remote management capabilities.
- March 2024: Acuity Brands partnered with municipalities in North America to deploy adaptive lighting solutions aimed at improving energy efficiency.
- April 2024: Hubbell introduced a solar-powered street lighting system, reducing reliance on the power grid and promoting renewable energy solutions.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Adoption Rates
5.2 Installation Numbers, by Region
5.3 Energy Consumption Metrics
5.4 Government Grants/Subsidies
6. Competitive Landscape
7. Street Lighting Market, by Type
8. Street Lighting Market, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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