LED Street Light Market Size, Share, Top Manufacturers, Growth Factors and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "𝐋𝐄𝐃 𝐒𝐭𝐫𝐞𝐞𝐭 𝐋𝐢𝐠𝐡𝐭 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖", The global LED street light market size reached US$ 10.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.1 Billion by 2028, exhibiting a growth rate (CAGR) of 14.01% during 2023-2028.

LED street lights, or light emitting diode street lights, are energy-efficient and environmentally friendly lighting solutions designed for outdoor illumination, particularly in urban and municipal settings. They have revolutionized street lighting by replacing traditional high-pressure sodium (HPS) or metal halide lamps due to their numerous advantages. LED street lights operate on the principle of electroluminescence, where the movement of electrons through a semiconductor material generates light. LED street lights are highly energy-efficient, consuming significantly less electricity than conventional lighting technologies. LEDs have an exceptionally long lifespan, often surpassing 50,000 hours of operation which reduces maintenance and replacement costs, especially in hard-to-reach streetlight installations. LED street lights provide instant illumination without the warm-up time required by some traditional lighting technologies. This feature enhances safety by ensuring well-lit streets immediately. LEDs emit light in a specific direction, reducing light pollution and minimizing wasteful light spillage into the night sky or neighboring properties. LED street lights can be designed with precision optics to direct light where it's needed most, improving visibility on roads while minimizing glare and shadows. LEDs offer excellent color rendering, allowing for better visibility of objects and improved overall safety on streets.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/led-street-light-manufacturing-plant/requestsample

LED Street Light Market Trends:

Energy efficiency of LED street lights represents one of the key factors driving the growth of the market across the globe. LEDs consume significantly less electricity compared to conventional lighting technologies like high-pressure sodium (HPS) or metal halide lamps. This translates into substantial energy cost savings for municipalities and businesses, thus making LED street lights an economically attractive option. The environmental advantages of LED street lights cannot be overstated. Their lower energy consumption leads to reduced carbon emissions, aligning with global efforts to combat climate change. Furthermore, LEDs are mercury-free, which makes them environmentally friendly and easier to dispose of than some traditional lamps. LED street lights provide superior quality and uniform illumination, enhancing visibility on roadways and sidewalks. This improves safety for drivers and pedestrians, which reduces the risk of accidents and enhances overall road safety, thus contributing to the growth of the market. Many governments worldwide are implementing energy efficiency and sustainability initiatives. Incentives, rebates, and mandates are encouraging municipalities and businesses to transition to LED street lighting as part of their commitment to reducing energy consumption and environmental impact. Ongoing research and development (R&D) leads to improved LED technology, which results in higher lumen output, better color rendering, and enhanced heat management. These advancements make LEDs even more appealing for street lighting applications. The rising integration of LED street lights into smart city systems allows for remote monitoring, adaptive lighting control, and the collection of data for better urban planning which is driving the market growth. This connectivity enhances the functionality and efficiency of street lighting networks. Rapid urbanization and infrastructure development in emerging economies are driving the demand for street lighting solutions. LED technology is well-suited to meet the lighting needs of expanding urban areas efficiently which is facilitating the growth of the market across the globe.

LED Street Light Market Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the LED street light market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Nichia Corporation
• Osram
• Samsung Electronics Co., Ltd.
• Everlight Electronics Co., Ltd.
• LG Innotek

Key Market Segmentation:

The report has segmented the LED street light market on the basis of product, application and region.

Breakup by Application:

• Retrofit
• Retail & Hospitality
• Outdoor
• Offices
• Architectural
• Residential
• Industrial

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐁𝐫𝐨𝐰𝐬𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞: https://www.imarcgroup.com/request?type=report&id=725&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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This release was published on openPR.