Press release
Key Trends Influencing the Growth of the LED Street Light Market in 2025: Goldmedal Electricals Launches Torus Led Street Light With Cutting-Edge Technology And Stylish Design
LED Street Light
How Large Will the LED Street Light Market Size By 2025?
The dimension of the LED street light market has seen a substantial expansion in the last few years. Its growth is anticipated to carry on, with an expected increment from $14.31 billion in 2024 to $17.41 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 21.6%. The past growth rate has been driven by factors such as efforts towards energy efficiency, governmental rules and guidelines, cost reduction, urban development trends, and a commitment to environmental sustainability.
How Big Is the LED Street Light Market Size Expected to Grow by 2029?
Over the next several years, the LED street light market is anticipated to experience dramatic expansion. It is projected to reach $37 billion in 2029 with a compound annual growth rate (CAGR) of 20.7%. Smart city movements, integration of renewable energy, emphasis on public safety and security, developments in urban infrastructure, and cost-effective enhancements all contribute to this forecasted growth. Key trends set to shape the period include the introduction of connected street lighting networks, a shift towards eco-friendly materials, the employment of components that are both long-lasting and easy to maintain, government endorsements for LED street lighting, along with the provision of tailored lighting solutions for smart cities.
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Which Key Market Drivers Powering LED Street Light Market Expansion and Growth?
The growth of smart cities globally is propelling the LED street light market. Essentially, smart cities are administrative regions that use information and communication technology (ICT) to enhance operational efficiency and offer superior infrastructure facilities to their inhabitants. Well-designed LED streetlights help curb city energy consumption and uplift public safety. The emphasis is on the energy efficacy brought about in smart cities with the use of information and communication technology (ICT), including the Internet of Things (IoT). For instance, in April 2023, data from the World Bank, a US-based international financial establishment, showed that approximately 4.4 billion people, representing 56% of the global population, currently live in cities. It's projected that, by 2050, nearly 7 out of 10 people will be city dwellers, which would constitute more than double the present urban population. Thus, the emergence of smart cities globally is fueling the LED street light market demand.
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Which Fast-Growing Trends Are Poised to Disrupt the LED Street Light Market?
The key trend in the LED street light market that is gaining traction is technological innovation. Leading businesses in this market are creating high-tech solutions to bolster their market standing. One example of this occurred in August 2023, when Goldmedal Electricals Pvt. Ltd., which specializes in electrical accessories in India, rolled out the torus LED streetlight. This breakthrough product leverages the latest LED technology to transform outdoor lighting, delivering powerful lighting in an elegant design. Gold medal Electricals' unveiling of the torus LED streetlight demonstrates their commitment to providing inventive and cost-effective lighting solutions for both outdoor and urban environments. The torus LED streetlight boasts an exceptional IP66 rating, assuring protection against harsh weather conditions. The street light comes equipped with top-quality lenses to deliver brilliant and sharp light.
What Are the Emerging Segments in the LED Street Light Market?
The led street light market covered in this report is segmented -
1) By Connectivity: Wired, Wireless
2) By Sales Channels: Direct, Indirect
3) By Applications: Retrofit, Retail And Hospitality, Outdoor, Offices, Architectural, Residential, Industrial, Other Applications
Subsegments:
1) By Wired: Direct Wired Connections, Power Line Communication (PLC) Systems, Integrated Control Systems
2) By Wireless: Wi-Fi Enabled Street Lights, Zigbee-Based Connectivity, Cellular (4G Or 5G) Connected Street Lights, LoRaWAN (Long Range Wide Area Network) Systems, Satellite-Based Communication Systems
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Who Are the Global Leaders in the LED Street Light Market?
Major companies operating in the led street light market include Samsung Electronics Co Ltd., Revolution Lighting Technologies Inc., Panasonic Corporation, Eaton Corporation plc, Wipro Limited, Signify N.V., NIPSCO Inc., Hubbell Inc., Leotek Electronics LLC, Acuity Brands Inc., OSRAM GmbH, Havells India Limited, Zumtobel Group, Syska LED Street Light, Cree Inc., TATA Power Solar Systems Ltd., Crompton Greaves Consumer Electricals Limited, Bajaj Electricals Limited, LSI Industries Inc., PEMCO Lighting Products LLC, XtraLight LED Lighting Solutions, Daintree Company, Niland Company, Nichia Corporation, Pkk Lighting Inc., SAVANT TECHNOLOGIES LLC, Ultravision LED Solutions, Jackson International Ltd., Optolumens Light Solution, Brandon Industries Inc.
Which are the Top Profitable Regional Markets for the LED Street Light Industry?
Asia-Pacific was the largest region in the LED street light market in 2024. The regions covered in the led street light market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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