DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Outdoor Lighting Market by Lighting Type, by Component, by Application, by Distribution Channel, by Country Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific (APAC) outdoor lighting market is predicted to attain a size of $10.6 billion by 2024, progressing at a CAGR of 11.1% during the forecast period (2019-2024), according to this research. This is attributed to the increasing government initiatives promoting energy efficiency and the development of smart, LED-based outdoor lighting systems. In the APAC region, the growing number of smart city projects is creating ample opportunities for the players in the market.
On the basis of lighting type, the APAC outdoor lighting market is divided into fluorescent lights, light-emitting diode (LED) lights, high-intensity discharge (HID) lamps, and plasma lamps. Among these, the LED lights category is projected to witness the fastest growth during the forecast period. This is ascribed to the rising demand for LED-based lighting in various applications areas, especially highways, stadiums, and tunnels. Moreover, countries such as India, China, and South Korea are offering subsidies to users to replace incandescent lights with LEDs.
The APAC outdoor lighting market is classified into retail and commercial distribution channels. Of these, in 2018, the commercial channel held the larger revenue share in the market due to the escalating demand for LED-based street lights in commercial spaces, such as parking lots, highways, airports, jogging tracks, bridges, and streets. End users including government organizations, contractors, and private builders prefer to buy lighting products directly from the manufacturers, leading to the growth of this category.
The APAC outdoor lighting market is expected to register the fastest CAGR in India during 2019-2024 owing to the introduction of smart lighting solutions, advent of intelligent lighting technologies, and rapid upgradation in outdoor lighting systems in the country. The eco-friendliness and cost-effectiveness of LED lights along with the development of smart cities are boosting the adoption of such lights in the country. Additionally, the rising number of LED lights projects in areas such as Delhi, Maharashtra, and West Bengal are bolstering the sector in India.
Increasing government initiatives in APAC countries to promote energy conservation and efficiency are strengthening the growth of the APAC outdoor lighting market. There are various energy-efficiency projects lined up in the APAC region, which can decrease greenhouse gas emissions and thermal pollution. For instance, in 2015, the Indian government launched the Street Light National Programme (SLNP) to encourage the use of energy-efficient lighting products in the country. Under the project, the government aimed to replace 35 million conventional lights with LED lights.
Furthermore, in 2016, the Institute of Public Works Engineering Australasia (IPWEA) and the Government of Australia jointly launched the Street Lighting and Smart Controls Programme to encourage the adoption of LED lights to raise energy efficiency. Therefore, such initiatives to minimize energy consumption are boosting the APAC outdoor lighting market growth.
- Shift from conventional lights toward solar powered lights
- Growing demand for smart lights
- Increasing penetration of China manufactured lights
- Rising infrastructure development
- Increasing government initiatives towards energy efficiency
- Rising adoption of LED lights
- High import duties
- Increasing number of smart cities in APAC
- Upcoming sports events in APAC
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segmentation
4.1.1 By Lighting Type
22.214.171.124 HID lamps
126.96.36.199 LED lights
188.8.131.52 Fluorescent lights
184.108.40.206 Plasma lamps
4.1.2 By Component
4.1.3 By Application
220.127.116.11 Street lighting
18.104.22.168 Parking lots
22.214.171.124 Tunnel lights
4.1.4 By Distribution Channel
4.2 Value Chain Analysis
4.3 Market Dynamics
4.4 Porter's Five Forces Analysis
Chapter 5. APAC Market Size and Forecast
5.1 By Lighting Type
5.2 By Component
5.3 By Application
5.4 By Distribution Channel
5.5 By Country
Chapter 6. China Market Size and Forecast
Chapter 7. India Market Size and Forecast
Chapter 8. Japan Market Size and Forecast
Chapter 9. South Korea Market Size and Forecast
Chapter 10. Australia Market Size and Forecast
Chapter 11. Rest of APAC Market Size and Forecast
Chapter 12. Key Performance Indicators
12.1 Development of Road Infrastructure
12.2 Growing smart city projects in APAC
12.3 Rising Number of Stadiums
Chapter 13. Competitive Landscape
13.1 Market Share Analysis of Key Players
13.2 List of Key Players and their Offerings
13.3 Competitive Benchmarking of Key Players
13.4 Recent Activities of Major Players
13.5 Strategic Developments of Key Players
13.5.1 Product Launches
13.5.2 Other Developments
Chapter 14. Company Profiles
14.1 General Electric Company
14.1.1 Business Overview
14.1.2 Product and Service Offerings
14.1.3 Key Financial Summary
14.1.4 SWOT Analysis
14.2 Osram Licht AG
14.3 Hubbell Incorporated
14.4 Cree Inc.
14.5 Eaton Corporation PLC
14.6 Signify N.V.
14.7 Syska LED Lights Pvt. Ltd.
14.8 Virtual Extension
14.9 Dialight PLC
14.10 Zumtobel Group AG
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