Press release
Rising Road Accidents Boost The Transportation Lighting Market Growth Driver: Leading Transformation in the Transportation Lighting Market in 2025
Transportation Lighting Market Size
The market size for transportation lighting has been experiencing a steady surge in recent years. It's expected to expand from a valuation of $9.76 billion in 2024 to $10.24 billion by 2025, growing at a compound annual growth rate (CAGR) of 5.0%. This historic period's growth can be credited to factors such as heightened government investment, the rampant adoption of LED lights, rising consciousness about road safety, the amplified appeal of color-changing LED lighting systems, and the enhanced emphasis on road safety.
The market size for transportation lighting is anticipated to witness consistent growth over the next several years. It is projected to reach $12.26 billion by 2029, expanding at a Compound Annual Growth Rate (CAGR) of 4.6%. Reasons for this growth during the forecasted period encompass augmented instances of road crashes, burgeoning need for energy-efficient lights, and the advent of sophisticated lighting solutions. It also includes greater understanding of road safety concerns and a surge in overseas visitors and transport action. Looking ahead, stand-out trends could involve the incorporation of smart lighting systems, the onboarding of energy-efficient and renewable lighting initiatives, merging with renewable energy frameworks, up-to-the-minute advances in lighting technology, and intensifying research and development movements.
What Is Driving the Growth Trajectory of the Transportation Lighting Market?
The growth of the transportation lighting market is expected to be driven by the escalating frequency of road mishaps. Various factors contributing to this rise in accidents include the number of vehicles on the roads, instances of DUI (driving under the influence), subpar road conditions, and adverse weather situations. Transportation lighting enhances road visibility for drivers, enabling them to recognize objects and traffic signs more vividly, especially during nighttime or unfavorable weather. For instance, Eurostat, the statistical office of the European Union based in Europe, reported in March 2024 that the number of people killed in road accidents in Europe rose by 3.7% from 19,917 in 2021 to 20,653 in 2022. Hence, the escalating frequency of road accidents is stimulating the expansion of the transportation lighting market.
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Which Leading Companies Are Shaping the Growth of the Transportation Lighting Market?
Major companies operating in the transportation lighting market are ABB Ltd., Eaton Corporation plc, STMicroelectronics N.V, WSP Global Inc., Signify N.V., Hella GmbH & Co. KGaA, Intertek Group plc, Holophane Lighting Limited, Lumileds Holding B.V., Seoul Semiconductor Co. Ltd., Cree Lighting USA LLC, Dialight plc, J.W. Speaker Corporation, AGC Lighting Co. Ltd., LEDiL, Kenall Manufacturing, Luminus Devices, Transportation Solutions and Lighting Inc., Current Lighting Solutions LLC, Urban Solar Group Inc., Detroit Trading and Sourcing LLC, Fagerhults Belysning AB
What Are the Major Trends Shaping the Transportation Lighting Market?
Several leading corporations within the transportation lighting industry are honing their focus on the creation of innovative technologies like street lights with a purpose to augment road safety and amplify energy efficiency. Street lights are external light fixtures that illuminate areas such as roads, highways, and pedestrian walkways during times of restricted natural light. Taking Raytec as an example, a UK-based firm specialising in LED lighting solutions - in September 2023 they pioneered a product named SPARTAN Street. This is an innovative high-end street lighting range specifically designed for hazardous spaces. This luminaire is distinguished for being the first officially certified for usage in Zone 1/21 environments, with another version suitable for Zone 2/22 areas, featuring superb efficacy, a highly versatile design, and easy installation.
What Are the Key Segments of the Transportation Lighting Market?
The transportation lightingmarket covered in this report is segmented -
1) By Technology: Light Emitting Diode (LED), High-Intensity Discharge (HID), Fluorescent, Other Technologies
2) By Installation: Replacement Installation, Retrofit Installation, New Installation
3) By Application: Subway Station, Train Station, Airport, Other Applications
4) By End-User: Area, High Bay, High Mast, Road, Other End-Users
Subsegments:
1) Light Emitting Diode (LED): Standard LED Lighting, Adaptive LED Lighting
2) High-Intensity Discharge (HID): Metal Halide, High-Pressure Sodium
3) Fluorescent: Compact Fluorescent Lights (CFL), Linear Fluorescent Lights
4) Other Technologies: Incandescent Lighting, Halogen Lighting
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Which Region Dominates the Transportation Lighting Market?
Asia-Pacific was the largest region in the transportation lighting market in 2024. The regions covered in the transportation lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Transportation Lighting Global Market Report?
- Market Size Analysis: Analyze the Transportation Lighting Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Transportation Lighting Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Transportation Lighting Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Transportation Lighting Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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