Street And Roadway Lighting Market Poised to Hit $14.07 Billion by 2029 with Accelerating Growth Trends

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Street And Roadway Lighting Market Size Growth Forecast: What to Expect by 2025?
The market size for street and roadway lighting has seen a consistent increase over the last few years. The market is projected to escalate from $10.5 billion in 2024 to $11.01 billion in 2025, experiencing a compound annual growth rate (CAGR) of 4.8%. Factors contributing to this growth during the historical period include community requirements and responses, energy-saving endeavors, developments in lighting designs, transition towards LED technology, and government regulations.

How Will the Street And Roadway Lighting Market Size Evolve and Grow by 2029?
The market size for street and roadway lighting is projected to experience significant growth in the coming years. It's estimated to reach $14.07 billion by 2029, with a compound annual growth rate (CAGR) of 6.3%. This growth during the forecast period is believed to be driven by factors such as the adoption of smart city initiatives, concerns over the environment and light pollution, integration of IoT and sensors, urban infrastructure development, and a demand for energy-efficient solutions. Key trends during this period are expected to be advancements in LED technology, the introduction of smart lighting controls, initiatives for sustainability, enhanced safety and security measures, and the implementation of adaptive lighting solutions.

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What Drivers Are Propelling the Growth of Street And Roadway Lighting Market Forward?
The surge in road transportation is anticipated to fuel the growth of the street and roadway lighting market. Road transport, which entails the conveyance of goods and people from one place to another via roads, is on the rise. As a result, the demand for street and roadway lighting is expected to increase, enhancing the safety of drivers, riders, and walkers by improving visibility. For example, a report released by the U.S. Department of Transportation, a division of the U.S. federal government, in March 2021 indicated that travel on all highways and streets increased by +2.9% (+7.9 billion vehicle miles) compared to March 2021. The expected travel in March 2022 was 277.4 billion vehicle miles. Furthermore, in March 2022, 274.8 billion miles were covered in vehicles, rising 2.80% (7.5 billion miles) from the previous year. Consequently, the escalating rate of road transportation is propelling the street and roadway lighting market.

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Which Emerging Trends Are Transforming the Street And Roadway Lighting Market in 2025?
Trend 1 highlights product innovations as a critical area of focus gaining traction in the street and roadway lighting market. The primary companies in this field are concentrating on creating innovative technological solutions to solidify their market standing. For instance, Evluma, a U.S. company known for its cost-effective, durable, and environmentally friendly LED lighting products, released RoadMax in March 2022. This advanced roadway lighting solution offers enhanced glare control and superior light distribution. Available in several configurations (Type II, III, and V) with zero-uplight (U0), it complies with roadway standards while simultaneously addressing issues related to light trespass and disability glare. Its notable features comprise, among others, a field-adjustable wattage selector, light trespass shields, and synergy with Evluma's ConnectLED app for wireless control and dimming. The product additionally comes equipped with Photocontrol Failsafe technology, a robust 10-year warranty, and surge protection.

What Are the Key Segments in the Street And Roadway Lighting Market?
The street and roadway lighting market covered in this report is segmented -

1) By Offerings: Hardware, Software, Services
2) By Lighting Type: Conventional Lighting, Smart Lighting
3) By Light Source: LEDs, Fluorescent Lamps, High-Intensity Discharge Lamps
4) By End User Industry: Highways, Street, Roadways

Subsegments:
1) By Hardware: LED Fixtures, Luminaires, Poles And Mounting Structures, Smart Sensors And Controls
2) By Software: Lighting Management Systems, Monitoring And Control Software, Energy Management Software
3) By Services: Installation Services, Maintenance And Repair Services, Consulting And Design Services

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Who Are the Key Players Shaping the Street And Roadway Lighting Market's Competitive Landscape?
Major companies operating in the street and roadway lighting market include Cree Inc., Acuity Brands Inc., OSRAM Licht AG, Current Lighting Solutions, Syska LED Lights Pvt Ltd., Hubbell Inc., Zumbotel Group, LED roadway lighting Ltd., ClaroLux Landscape Lighting, Forus Electric Private Limited, Koninklijke Philips N V, WS Atkins Plc, Shenzhen GHC Co. Ltd., Lighting Reality Ltd., Schneider Electric, Petra Systems, Eaton Corporation plc, Streetlight.Vision, Philips Lighting, TVILIGHT Projects B.V., General Electric Company, Echelon Corporation, Cyan Technology Ltd., Honeywell International Inc., Bridgelux Inc.

What Geographic Markets Are Powering Growth in the Street And Roadway Lighting Market?
Asia-Pacific was the largest region in the street and roadway lighting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the street and roadway lighting market report during the forecast period. The regions covered in the street and roadway lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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