The latest report by IMARC Group titled, “LED Street Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, provides an in-depth analysis of the global LED street light market. LED street lights are considered the most energy efficient and cost-effective lighting solution for several outdoor lighting applications. As compared to the conventional lighting options such as fluorescent and incandescent lights, these lights use almost 50-70% less electricity. Moreover, this type of lighting system is recyclable; contains no harmful gases and substances like mercury, lead or other hazardous chemicals; involves lesser maintenance and waste management procedures; and has longer lifespan as compared to other lighting systems. As a result of these factors, LED street lights are extensively being used for a number of applications. Some of the places where LED street lights are used include urban areas, small-town main streets, commercial districts, industrial parks, interstate highway interchanges and rural inter sections.
Government initiatives have helped in contributing to the growth of the market. For Instance, the Indian government has launched various schemes for the distribution of LED bulb under domestic efficient lighting programme. Apart from this, the New York State Energy Research and Development Authority (NYSERDA) project aims at creating more affordable pathway to LED street light conversion in the United States of America. The initiative like these are expected to bring a positive growth in the global LED street light market in the coming years.
The report has segmented the market for LED street lights on the basis of applications. Some of the major applications are residential LED street lighting, highways and interchanges, railway crossings, tunnels, bridges, and housing complexes and warehouses. The report has analysed the market on a regional basis. Some of the major markets for LED lights include India, China, Europe, United States, Japan, Brazil and Russia. An evaluation of the competitive landscape provides the details of the major key players such as Nichia, Osram, Samsung Electronics, Eerlight Electronocs and LG Innotek.
The report provides a techno-commercial roadmap for setting up an LED street light manufacturing plant. The study covers all the requisite aspects of the LED street light market. This ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics including expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the LED street light industry in any manner.
The report has examined the global LED street lights market on the basis of:
- Residential Street Lighting
- Highways and Interchanges
- Railway Crossings
- Housing Complexes and Warehouses
- United States
- Samsung Electronics
- Eerlight Electronocs
- LG Innotek
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