Transportation Lighting Market: Industry Analysis and Forecast (2024-2030)

Transportation Lighting Market Definition:

Transportation lighting systems are used by private and government entities to illuminate Pathways, highways, and public transportation places such as airports, bus stops, train stations, metro stations, and parking lots. A transportation lighting system's principal objective is to provide illumination for humans. The lighting helps to provide a safe and comfortable atmosphere for the public.

 

Further, the Transportation Lighting market is segmented by Technology, Installation, Application, End-Users, and geography. Based on the Installation, the Transportation Lightings market is segmented into Replacement Installation, Retrofit Installation, and New Installation. Based on the Technology, the Transportation Lightings market is segmented into LED, HID, Fluorescent, and Others. Based on the End-Users, the Transportation lighting market is segmented into Area, High Bay, High Mast, Road, and Others. Based on the Application, the Transportation Lightings market is segmented into Railway, Airport, Commercial, and Industrial. By geography, the market covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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Transportation Lighting COVID 19 Insights:

Companies in the transportation lighting industry are benefiting from the relaxation of COVID-19 regulations and the opening up of numerous sectors, commercial spaces, and institutions. Market participants are establishing revenue streams from new building and infrastructure projects. Market participants are taking advantage of government stimulus measures to keep afloat financially.

 

During the ongoing pandemic, new installations and retrofitting projects are offering value-grab possibilities for organizations in the transportation lighting sector. Market participants are stepping up their efforts to narrow the demand-supply imbalance. Manufacturers are increasing their domestic production capacity in order to lessen their reliance on other nations for raw materials, components, and finished goods.

 

Transportation Lighting Market Dynamics:

Market Drivers:

 

Increasing Population: The transportation lighting market is expected to rise because of the growing population of metropolitan regions and the growing number of office employees, particularly in emerging nations. Railways are an important element of the global public transportation system, and they are expected to play a larger role in the future as the world's population grows, urbanizes, and travel patterns change. Furthermore, rising economies are concentrating their efforts on introducing and promoting large-scale transportation infrastructures, such as high-speed railroads and bullet trains, and metro trains to provide passengers with more comfort and quicker travel. As a result, the Transportation lighting market is expected to grow with a high CAGR during the forecast period because of increasing population and increased government spending on railroads.

 

Increasing Number of Travelers: In the world of millennials the number of travellers are increasing, & this is expected to increase the growth of the Transportation Lighting Market. Increased demand for comfort and luxury features inside rolling stock is expected to increase investment in railway projects for metro trains, high-speed trains, and refurbished trains. Government regulations and norms for train lighting applications, an increase in the number of travellers opting for railways, and demand for enhanced lighting for greater comfort are all factors influencing the growth of the Train lighting market. The increasing growth of the train lighting market will drive the growth of the Transportation Lighting Market during the forecast period. However, the industry is likely to benefit from growing economies and technical advancements in railroad infrastructure.

 

Increasing Incidents of Road Accidents: Day by day the number of accidents is increasing because of a lack of street or highway lights. For busy streets and highways where visibility is critical, roadway lighting is a critical safety factor. From the study it is found that appropriate illumination may minimize night collisions by up to 30%, resulting in increased safety for drivers, cyclists, and pedestrians. Hence to reduce the incidence of road accidents while transportation the government is expected to invest money in the road and highway lighting projects which will boost the growth of the Transportation Lighting Market. The rising need for improved visibility and security for drivers, riders, and pedestrians is likely to fuel the growth of the transportation lighting market during the forecast period.

 

Transportation Lighting Market Segment Analysis:

By Technology, the Transportation Market is segmented into LED, HID, Fluorescent, and Others. In 2023, the LED lights segment holds a share of 42% of the transportation lighting market. LED lights are roughly 80% more efficient than traditional light bulbs, such as fluorescent and incandescent bulbs, in producing light. LEDs turn 95 % of their energy into light, with only 5% lost as heat, prompting customers to choose a more cost-effective lighting option.

 

For street and highway areas, LED lights give a constant light while also boosting general visibility and adding security. They may also be used in conjunction with motion sensors, photocells, and timers to create a lighting control system that is energy efficient. Furthermore, government measures are fuelling market growth, as several countries across the world are putting in place legislation to encourage the use of LEDs. In India, for example, the government's SLNP (Street Light National Program), which aims to replace 21 million streetlights with LEDs, is helping to drive market development.

 

Furthermore, LED lighting applications provide colors that span the whole spectrum, enhancing the beauty of outdoor areas, bridges, roadways, and buildings. The Empire State Building in New York City, for example, and the Baron Palace in Cairo, Egypt, are two examples. So, because of all these advantages, the LED light segment will boost the growth of the Transportation Lighting Market during the forecast period

 

 

By Application, the Transportation lighting market is segmented into Train, Airport, Commercial, and Industrial. Train transportation lighting segment holds a share of 38% and is expected to grow at a CAGR of 2.7% during the forecast period. Train lighting is an important passenger amenity that provides passenger comfort while also assisting drivers in maintaining track visibility. Train lighting is utilized for a variety of internal and external applications, including cabin interior illumination and track pathfinding.

 

Train illumination comes in a variety of styles, including fluorescent, halogen, LED, and xenon. The need for LED lighting in high-speed trains, metro trains, and special trains is increasing at a rapid rate, owing to their low power consumption, which works as a market driver. A train is conceived, built, and outfitted with a variety of batteries that power lights for both inside and external uses.

 

Hence, with the increasing of railroads as a source of transportation, train illumination has become more important. As a result, the train transportation segment is expected to drive the growth of the Transportation Lighting Market.

 

By End Users, the transportation lighting market is segmented into Area, High Bay, High Mast, Road, and Others. In 2023, the floodlighting/area lighting holds the largest share and is expected to grow at a healthy CAGR during the forecast period. Floodlighting or area lighting solutions are increasingly being used for the applications such as warehouses, industrial outer premises, and parking areas. These lighting solutions provide bright light to these areas and ensure their safety and security. This lighting system is one of the common products offered by many companies in their product portfolio. During the forecast period, it is expected that innovation in the area lighting industry can open up new opportunities for the transportation market.

 

Transportation Lighting Market Regional Insights:

In 2023, Asia Pacific dominated the market with a 37.4 % share and a CAGR of 4.2 %.  Because of the development in smart city efforts furthermore, the increase in government initiatives to promote LED technology adoption for roadway and highway applications will increase the demand for street and roadway lighting in the area which will boost the growth of the Transportation lighting market in the Asia Pacific region during the forecast period. In addition, the presence of the key players in the region makes Asia Pacific dominant in the Transportation Lighting Market.

 

Europe is expected to see substantial development in the street and roadway lighting market. During the forecast period, the Europe region is expected to grow at a CAGR of 2.8 %. In the region, there has been an increase in demand for transportation lighting because of the increasing number of foreigners and transportation activities. In addition, with the increase in infrastructure and railroads in this region will increase during the forecast period. As a result of this, Transportation Lighting Market will grow because of the increasing demand from the railyards and highway segment. 

 

Transportation Lighting Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the Europe market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Transportation Lighting market to the stakeholders in the industry. The report provides trends that are most dominant in the Transportation Lighting market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Transportation Lighting Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Transportation Lighting market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Transportation Lighting market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Transportation Lighting market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Transportation Lighting market. The report also analyses if the Transportation Lighting market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Transportation Lighting market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Transportation Lighting market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Transportation Lighting market is aided by legal factors.

 

Transportation Lighting Market Scope:

 

Transportation Lighting Market
Market Size in 2023	USD 9.70 Bn.
Market Size in 2030	USD 11.93 Bn.
CAGR (2024-2030)	3%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Technology   LED HID Fluorescent Others
	By Installation   Replacement Installation Retrofit Installation New Installation
	By End-Users Area High Bay High Mast Road Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transportation Lighting MARKET KEY PLAYERS: 

• ABB
• AGC Lighting
• Cree Lighting
• Eaton
• Intertek Group plc
• Kenall Manufacturing
• LEDiL
• Signify Holding B.V.
• Transportation Solutions and Lighting, Inc.
• WSP USA,
• Dialight PLC
• Osram Licht AG
• Panasonic Corporation.
• Seoul Semiconductor Co., Ltd.
• TRILUX GmbH & Co. KG
• Zumtobel Group AG
• Toshiba
• General Electric
• Hitachi
• Koito
• Federal-Mogul