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Tunnels Lights Market is Attribute to Reach US$ 3 Billion Revenues by 2030
Tunnel Lighting Market
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Moreover, increasing transportation infrastructural development is projected to be a key contributor to market growth over the coming years. Developmental projects, especially in road and rail infrastructure, taken up by developing countries such as India and China, are expected to positively impact market growth.
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Innovations in products such as daylight- and weather-adaptive lighting are expected to fuel demand for tunnel lighting, as they help increase safety of drivers and are also cost-effective. These technologically-advanced LED lights assist drivers in adapting and adjusting to various road conditions effectively. Apart from this, they have the ability to withstand corrosion, offering more than 70% power efficiency. With these features, LED lights are anticipated to be one of the key drivers for the growth of the global tunnel lighting market.
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Fact.MR predicts the global tunnel lighting market to cross a valuation of US$ 3 Bn by the year 2030.
Key Takeaways from Tunnel Lighting Market Study
Europe is the most lucrative market for tunnel lighting. This dominance is expected to continue over the forecast period as well. Asia Pacific is projected to witness the highest growth during the forecast period of 2020-2030.
Linear-shaped tunnel lights are anticipated to capture a majority of the market in the next decade, when segmented according to shape.
Surface mounted tunnel lighting is predicted to be the major segment when classified based on installation, followed by wall mounted lights.
The global tunnel lightings market experienced sluggish growth during the initial phases of the COVID-19 pandemic, but is now expected to progress at its normal pace over the coming months and years.
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Tunnel Lighting Market: Competitive Landscape
The global tunnel lighting market is highly competitive in nature. Presence of several international as well as regional players makes it competitive. Key players in the market are focusing on exploring new opportunities by expanding their geographical footprint. In order to achieve this, players are looking at collaborations and partnerships. Furthermore, companies are finding new applications of tunnel lighting in order to stay ahead of the competition in the market.
For instance, Nyx Hemera has come up with an adaptive lighting control system called TLACS-U. This product is designed specifically for underpasses and short tunnels in North America and Europe. The system allows real-time dimming control and monitoring of tunnel lights. This system has been already installed in more than 75 tunnels, and is expected to gain more popularity in the near future. Apart from this, it also enables city officials to interact directly with their infrastructure and monitor everything that is happening in underpasses.
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Key players operating in the global tunnel lighting market include:
Acuity Brands Lighting, Inc.
Aeon Lighting Technology Inc.
Cree Inc.
General Electric Company
Kenall Manufacturing
Koninklijke Philips N.V.
Zumtobel Group AG
NINGBO GOLDEN CLASSIC LIGHTING CO., LTD.
Schréder
Thorlux Lighting
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More Valuable Insights on Tunnel Lighting Market
In its latest report, Fact.MR has provided an unbiased analysis on the global tunnel lighting market, comprising data on historical statistics (2015-2019) and forecasts of demand for the period from 2020 to 2030. The report discusses critical insights on the tunnel lighting market in terms of type (LED lighting, electrodeless lighting, incandescent lighting, fluorescent lighting, and others), shape (linear, round, square, rectangular, and others), installation (surface mounted, hanging, and recessed/side wall mounted), and application (roadway tunnels, railway tunnels, mining tunnels, public work tunnel, and others), across 5 key regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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