Press release
Steady Expansion Forecast for Transportation Lighting Market, Projected to Reach $12.26 Billion by 2029
Transportation Lighting
Transportation Lighting Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been consistent growth in the size of the transportation lighting market in past years. The market is projected to expand from $9.76 billion in 2024 to $10.24 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.0%. Factors contributing to previous growth include increased government investment, widespread acceptance of LED lights, heightened consciousness about road safety, the emergence of color-shifting LED lighting systems, and an amplified emphasis on road safety.
Transportation Lighting Market Size Forecast: What's the Projected Valuation by 2029?
Expectations show a consistent rise in the transportation lighting market size in the forthcoming years. The market is estimated to reach $12.26 billion in 2029, with a compound annual growth rate (CAGR) of 4.6%. The upward trend during the forecast years can be linked to factors like an increase in road mishaps, surge in the requirement for energy-efficient lighting, deployment of cutting-edge lighting solutions, heightened consciousness about road safety, and the influx of tourists augmenting transportation activities. Key drivers during this prediction period comprise the incorporation of intelligent lighting systems, utilization of energy-effective and eco-friendly lighting solutions, assimilation with green energy systems, the integration of sophisticated lighting technology, and an increase in research and development initiatives.
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What Are the Drivers Transforming the Transportation Lighting Market?
The growing number of road incidents is predicted to drive the development of the transportation lighting market. Factors such as the number of vehicles on the road, intoxicated driving, bad road surfaces, and adverse weather conditions contribute to the frequency of road accidents. Transportation lighting enhances visibility for motorists, making it easier to spot objects and road signs, particularly during the night and during adverse weather conditions. As an illustration, data from Eurostat, the Europe-based statistical branch of the European Union, revealed that in 2022, road accidents caused 20,653 deaths in Europe. This marked a 3.7% increase from the 19,917 recorded in 2021. Hence, the escalating rate of road mishaps is fuelling the growth of the transportation lighting market.
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What Long-Term Trends Will Define the Future of the Transportation Lighting Market?
Leading corporations within the transportation lighting sector are concentrating their efforts on creating cutting-edge technology like street lights to tighten road safety and amplify energy efficiency. A street light is an exterior light fixture set up on avenues, highways, and footpaths to ensure visibility for both vehicles and pedestrians during poor light situations. For example, in September 2023, Raytec, an established manufacturer and creator of LED lighting solutions from the UK, debuted their SPARTAN Street series. This brand-new range of exceptional high-performance street lighting is specifically constructed for hazardous conditions. It is remarkable for being the first product of its kind approved for deployment in Zone 1/21 environments. It also offers a version geared toward Zone 2/22 scenarios, notable for their excellent efficacy, extremely versatile design, and straightforward installation process.
Which Segments in the Transportation Lighting Market Offer the Most Profit Potential?
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 Firms Dominate the Transportation Lighting Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in 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.
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