Global LED Street Light Market to 2024 - Development of Smart Cities Represents the Key Factor Driving Demand

DUBLIN, July 15, 2019 /PRNewswire/ -- The "LED Street Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The global LED street light market has witnessed sustained growth over the past few years

The LED technology has evolved significantly over time, which has led to a reduction in their production costs and simultaneous improvements in efficiency and performance characteristics. These enhancements have enabled the technology to be combined with roadway and exterior area lighting such as streetlights and floodlights.

Nowadays, the incorporation of street lighting with energy-efficient, modern LED systems has presented numerous opportunities for building a secure and connected city lighting network. On account of their longer lifespan and lower energy consumption, various cities around the world have adopted LED streetlights.

The development of smart cities represents the key factor driving the demand for LED streetlights. The installation of connected LED street lighting in smart cities projects serves as a contributor to the broader renovation of aging city infrastructure. The implementation of the connected street lighting program through a mobile network with a Centralized Management System (CMS) enables city managers to control and monitor lighting assets remotely.

Moreover, a global shift from traditional lighting systems is also having a positive impact on market growth. Governments of various nations are taking initiatives to replace old streetlights with LED variants. For instance, cities in Canada and the United Kingdom have recently introduced projects for installing smart lighting systems.

Besides this, starting from September 2019, the Government of Malaysia will replace all the streetlights in the country from incandescent or fluorescent bulbs to LED lights.

Currently, LED lighting is majorly used for retrofitting purposes in which the inefficient light sources are replaced with LED lights in order to enhance optical performance and energy efficiency. The other major applications include retail & hospitality, outdoor, offices, architectural, residential and industrial.

On a regional basis, the report finds that China is the largest market for LED lighting, holding the majority of the global market share. This can be attributed to increasing urbanization, implementation of local energy saving targets and introduction of financial subsidies to promote the usage of LED lights across the nation.

The competitive landscape of the LED lighting industry has also been analyzed with details of the key players operating in the market across the globe.

Key Questions Answered in This Report:

• How has the global LED lighting market performed so far and how will it perform in the coming years?
• What are the key regional markets in the global LED lighting industry?
• What are the major application segments in the global LED lighting industry?
• What are the key product types in the global LED lighting industry?
• What are the various stages in the value chain of the global LED lighting industry?
• What are the key driving factors and challenges in the global LED lighting industry?
• What is the structure of the global LED lighting industry and who are the key players?
• What is the degree of competition in the global LED lighting industry?
• What are the profit margins in the global LED lighting industry?
• What are the key requirements for setting up a LED street light manufacturing plant?
• How are LED streetlights manufactured?
• What are the various unit operations involved in a LED street light manufacturing plant?
• What is the total size of land required for setting up a LED street light manufacturing plant?
• What are the machinery requirements for setting up a LED street light manufacturing plant?
• What are the raw material requirements for setting up a LED street light manufacturing plant?
• What are the packaging requirements for LED streetlights?
• What are the transportation requirements for LED streetlights?
• What are the utility requirements for setting up a LED street light manufacturing plant?
• What are the manpower requirements for setting up a LED street light manufacturing plant?
• What are the capital costs for setting up a LED street light manufacturing plant?
• What will be the income and expenditures for a LED street light manufacturing plant?
• What is the time required to break-even?

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