Street and Roadway Lighting Global Market Report 2024

The street and roadway lighting market size has grown strongly in recent years. It will grow from $9.97 billion in 2023 to $10.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed during the historical period can be attributed to several factors, including the influence of community demands and feedback shaping lighting improvements, initiatives focused on energy conservation, advancements in lighting design, the widespread transition to LED (Light Emitting Diode) technology offering energy efficiency, and government regulations promoting energy-efficient lighting solutions.

The street and roadway lighting market size is expected to see strong growth in the next few years. It will grow to $13.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period is expected to be driven by various factors, notably the adoption of smart city initiatives promoting technological integration, increasing concerns about environmental impact and light pollution, the integration of lighting systems with IoT (Internet of Things) and sensors, the expansion of urban infrastructure, and a growing demand for energy-efficient lighting solutions. Key trends projected in the forecast period encompass advancements in LED technology, the implementation of smart lighting controls allowing for remote management and customization, initiatives focused on sustainability promoting eco-friendly lighting solutions, enhancements in safety and security features within lighting systems, as well as the implementation of adaptive lighting solutions capable of adjusting based on various environmental factors.

The street and roadway lighting market is poised for growth, primarily driven by the increasing prevalence of road transportation. Road transport, involving the movement of goods and passengers on roads, is on the rise. The surge in road transportation is expected to fuel the demand for street and roadway lighting, enhancing road safety for drivers, riders, and pedestrians by improving visibility. In March 2021, the U.S. Department of Transportation reported a 2.9% increase in travel on highways and streets compared to March 2021, with a notable change of +7.9 billion vehicle miles. The total projected vehicle miles driven during March 2022 reached 277.4 billion, showcasing a 2.80% increase from the previous year. This growth in road transportation is a significant driver propelling the street and roadway lighting market.

The growth of urbanization is anticipated to contribute to the expansion of the street and roadway lighting market. Urbanization, characterized by the increasing growth and expansion of cities along with population migration from rural to urban areas, creates a higher demand for well-lit streets and roadways. The need for adequate lighting becomes crucial for ensuring safety, security, and efficient transportation as more individuals migrate to urban centers. According to the World Economic Forum, over 4.3 billion people, equivalent to 55% of the global population, resided in urban settings in April 2022. This figure is expected to surge to 80% by 2050, underscoring the ongoing trend of increasing urbanization. As urban areas expand, the development of new roads and streets becomes inevitable, further driving the demand for innovative street and roadway lighting solutions.

Product innovations represent a key trend in the street and roadway lighting market. Major companies within the market are concentrating on the development of advanced technological solutions to enhance their market position. For example, in March 2021, TVILIGHT Projects B.V., a Netherlands-based provider of smart street lighting solutions, introduced the OpenSky IoT devices. These wireless smart street light controllers and outdoor light controllers are designed to connect via an open, reliable, and internationally recognized telecom standard. The devices are expected to offer long-range, deep coverage, and high availability, utilizing secured and managed LPWAN (low power wide area network). They automatically select the available local telecom network to connect directly with the CityManager central management system, representing a significant leap in street and roadway lighting technology.

The street and roadway lighting market is witnessing a notable trend as major companies introduce solar street lights to bolster their market positions. Solar street lights are outdoor lighting fixtures that utilize solar panels to harness and store sunlight, providing illumination for roads and public spaces during the night. This environmentally friendly lighting option is gaining traction for its sustainable and energy-efficient characteristics. In May 2023, AGC Inc., a Japan-based glass manufacturing company, unveiled the ST57 Solar LED Street Light. This solar street light is designed to offer environmentally friendly lighting solutions and is suitable for installation in parking lots, parks, and other public areas. The ST57 Solar LED Street Light features independent components for the solar panel and fixture head, offering flexibility and ease of installation. It is available in six different sizes with power outputs ranging from 10W to 60W. The smart control capabilities include a built-in microwave, timer, and passive infrared (PIR) sensor, enhancing its efficiency and functionality.

A significant development in the solar street lighting domain occurred in July 2021 when Signify N.V., a Netherlands-based lighting corporation, acquired Telensa Holdings Ltd. This strategic acquisition aimed to expand Signify's services to a broader customer base by providing affordable smart city infrastructure solutions using connected lighting technology. Telensa Holdings Ltd., the UK-based company acquired by Signify, specializes in smart street lights and area lighting solutions, aligning with the growing trend of integrating smart technologies into urban infrastructure.

Major companies operating in the street and roadway lighting market report are Cree Inc., Acuity Brands Inc., OSRAM Licht AG, Current Lighting Solutions, Syska LED Lights Pvt Ltd., Signify Holding, DCD Technologies ME FZCO, 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, Silver Spring, Petra Systems, Eaton Corporation plc, SHAH, Streetlight.Vision, Philips Lighting, TVILIGHT Projects B.V., General Electric Company, Echelon Corporation, Cyan Technology Ltd., Teletrac Navman Ltd., ONTAZ, Lutron Electronics Company, Honeywell International Inc., Bridgelux Inc..

Asia-Pacific was the largest region in the street and roadway lighting market in 2023. 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. The countries covered in the street and roadway lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of street and roadway lighting include conventional lighting and smart lighting. Conventional lighting involves the use of incandescent lamps, which produce light through the rapid heating of a metal filament wire until it emits light. The major light sources employed in these systems include LEDs (Light Emitting Diodes), fluorescent lamps, and high-intensity discharge lamps. These lighting systems typically offer hardware, software, and associated services catering to various end-user industries such as highways, streets, and roadways, aiming to optimize visibility and safety for travelers and pedestrians alike.

The street and roadway lighting market research report is one of a series of new reports that provides specialty materials market statistics, including street and roadway lighting industry global market size, regional shares, competitors with a specialty materials market share, detailed street and roadway lighting market segments, market trends and opportunities and any further data you may need to thrive in the specialty materials industry. This street and roadway lighting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.