New Study Highlights a $1.1 Billion Global Market for Hybrid Street Lighting Systems by 2026

Amid the COVID-19 crisis, the global market for Hybrid Street Lighting Systems estimated at US$803.8 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Light Emitting Diode (LED), one of the segments analyzed in the report, is projected to record a 6.1% CAGR and reach US$882.8 Million by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Compact Fluorescent Lamp (CFL) segment is readjusted to a revised 5% CAGR for the next 7-year period.

The Hybrid Street Lighting Systems market in the U.S. is estimated at US$232.3 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$235.9 Million by the year 2026 trailing a CAGR of 8.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.