The outdoor LED lighting market size is projected to reach US$ 13.9 billion by 2031 from US$ 23.67 billion in 2023. The market is expected to register a CAGR of 6.90 % in 2023–2031. The promotion of national-level sports leagues driving the growth of stadiums is likely to remain key outdoor LED lighting market trends.
Due to its extended useful light, energy efficiency, and greater brightness, the market for outdoor LED lighting has grown significantly in the last few years. As technology has advanced, so too have the costs of these bulbs decreased. Streets, roads, parking lots, and pedestrian areas were the main outdoor areas that were illuminated by metal halide (MH) and high-pressure sodium (HPS) sources. These comparatively energy-efficient light sources have well-understood performance characteristics and have been around for a while. With many benefits over MH and HPS sources, LED lights have replaced HPS and MH lights in outdoor area lighting due to advancements in LED technology.
LED lighting is fast becoming the best solution for a broad variety of outdoor lighting applications. LEDs are the most energy-efficient light on the market, they have the longest lifespan by 2-10 times over the nearest competitor technology, and they produce a very high-quality light with a variety of characteristics. They are steady-state, small lights, which means they don’t present the breaking or recycling issues common with legacy lighting technology. Outdoor LED lighting offers various benefits, such as brighter light, longer life, energy saving, durability, and flexibility.
Various adoption of LED lighting is growing. Various companies are launching new LES lighting. For instance, in October 2023, Halonix Technologies announced the launch of India's first 'UP-DOWN GLOW' LED Bulb, demonstrating its commitment to enriching lives through pioneering technology. Similarly, in May 2023, AV Modular launched its first-ever LED lighting range, the A-Series. Therefore, with such increasing launches, the adoption of LED lighting is growing, driving the market growth.
Streetlights can account for up to 40% of a city’s energy costs. Wireless street lighting control can cut that cost by half, and remote monitoring can detect broken lamps instantaneously so that a repair team can be dispatched before dark. This is why cities around the world are investing billions of dollars into this market. The LED lights are widely used in the smart street lighting systems. Thus, the increasing adoption of smart street lighting systems is anticipated to present new opportunities for the outdoor LED lighting market players during the forecast period.
Key segments that contributed to the derivation of the outdoor LED lighting market analysis are installation, wattage, and applications.
The geographic scope of the outdoor LED lighting market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. In terms of revenue, North America accounted for the largest outdoor LED lighting market share. The US and Canada have been witnessing a significant expansion in their city limits and urban dwellings. The push for energy efficiency and environmental sustainability is rapidly transitioning its street lighting systems to outdoor LED technology in North America.
The regional trends and factors influencing the Outdoor LED Lighting Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Outdoor LED Lighting Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 25.3 billion |
| Market Size by 2031 | US$ 13.9 billion |
| Global CAGR (2025 - 2031) | 6.90 % |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Installation Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Outdoor LED Lighting Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Outdoor LED Lighting Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The outdoor LED lighting market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
The “Outdoor LED Lighting Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global outdoor LED lighting market is expected to reach US$ 23.67 billion by 2031.
The key players holding majority shares in the global outdoor LED lighting market are Cooper Industries plc (Eaton), Cree, Inc, Dialight PLC, General Electric Company, and Hubbell Incorporated.
The promotion of national-level sports leagues driving the growth of stadiums is anticipated to play a significant role in the global outdoor LED lighting market in the coming years.
The increasing adoption of LED lighting and increasing adoption of smart street lighting systems are the major factors that propel the global outdoor LED lighting market.
The global outdoor LED lighting market was estimated to be US$ 13.9 billion in 2023 and is expected to grow at a CAGR of 6.9 % during the forecast period 2023 - 2031.