Press release
Stadium Lighting Market Research Report Showing Compound Annual Growth Rate 2023
Stadium Lighting
The Stadium Lighting Market is expected to reach USD 622.2 million by 2023 from USD 432.0 million in 2018, at a CAGR of 7.57% between 2018 and 2023. Factors such as upcoming national and international sports events, enhanced stadium experiences of fans using LEDs, and reducing costs of LEDs and lifecycle operating costs of stadiums are boosting the demand for stadium lightings. However, factors such as high costs of equipment and lack of standardization are restraining the growth of the market.
LEDs held largest share of stadium lighting market in 2017
LEDs held the major share of the stadium lighting market in 2017. LEDs offer energy savings by ~50% compared with conventional lighting equipment. These also greatly reduce lighting maintenance costs as LEDs have long shelf life. LED lighting also ensures uniform lighting without unevenness so that athletes can concentrate on competing to perform at their best. Event organizers can also achieve various stage effects with instantaneous lighting and dimming.
Europe to hold largest share of stadium lighting market during forecast period
Europe held the largest share, in terms of value, of the stadium lighting market in 2017, and the similar trend is expected to continue during the forecast period. The growth of the market can be attributed to the upcoming and recently held sporting events, such as the IIHF World Hockey Championship, France (2017); FIFA World Cup, Russia (2018); Confederations Cup, Russia (2017); ICC Cricket World Cup, UK (2019); European Sports Championships, Germany (2018); FIFA Women’s World Cup, France (2019); and Youth Winter Olympic Games, Switzerland (2020), in this region.
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Breakdown of primary participants:
• By Company Type: Tier 1 = 25%, Tier 2 = 35%, and Tier 3 = 40%
• By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
• By Region: Europe = 43%, APAC = 29%, North America = 14%, and RoW = 14%
Some of the major players operating in the stadium lighting market are:
1. Philips Lighting (Netherlands)
2. Musco Sports Lighting (US)
3. Eaton (Ireland)
4. Cree (US)
5. Zumtobel Group (Austria)
6. Acuity Brands (US)
7. Hubbell (US)
8. LG Electronics (South Korea)
9. General Electric (US)
10. Panasonic (Japan)
Research Coverage:
In this report, the stadium lighting market has been segmented by light source, offering, solution set-up, installation type, and geography. The report also discusses market dynamics, such as drivers, restraints, opportunities, and challenges, for market growth. It gives a detailed view of the market across 4 main regions—North America, Europe, APAC, and RoW. Value chain analysis has been included in the report, along with profiles of key players and competitive landscape.
Reasons to Buy the Report:
• This report includes size of the overall stadium lighting market, as well as of the market by light source, offering, solution set-up, installation type, and geography.
• Value chain analysis and key industry trends have been provided in the report.
• Major drivers, restraints, opportunities, and challenges for the stadium lighting market have been provided in details in this report.
• This report will help stakeholders understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem and recent development strategies, such as product launches and developments, partnerships, and mergers & acquisitions, adopted by key players in the market.
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