Global Street and Roadway Lighting Industry Report 2024: Market to Reach $16.5 Billion by 2030

The global market for Street and Roadway Lighting estimated at US$10.6 Billion in the year 2022, is projected to reach a revised size of US$16.5 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2022-2030. Below 50 W, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$4.4 Billion by the end of the analysis period. Growth in the 50 - 150 W segment is estimated at 6.4% CAGR for the next 8-year period.

The report provides an introduction to street and roadway lighting, outlining its significance and role in urban infrastructure. It assesses the impact of the COVID-19 pandemic on the street and roadway lighting market, considering factors such as disruptions in supply chains and changes in consumer behavior.

The U.S. Market is Estimated at $2.5 Billion, While China is Forecast to Grow at 8.1% CAGR

The global market prospects and outlook section highlights the growing prominence of the street and roadway lighting market, with a focus on its rapid progress and the Asia-Pacific region's significant contribution to market growth. The segment on LED lights underscores their substantial growth potential within the market.

The Street and Roadway Lighting market in the U.S. is estimated at US$2.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.4 Billion by the year 2030 trailing a CAGR of 8.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 5.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2030.