Standard Segment to Dominate North America Tunnel Lighting Market during 2021–2028
According to The Insight Partners market research study on “North America Tunnel Lighting Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Design, Installation, Type, and Application” is expected to reach US$ 666.51 million by 2028 from US$ 488.71 million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The report provides trends prevailing in the North America tunnel lighting market along with the drivers and restraints pertaining to the market growth. Growth in railway infrastructure is the major factor driving the growth of the North America tunnel lighting market. However, issues associated with the high value of tunnel lighting system hinder the growth of North America tunnel lighting market.
The North America tunnel lighting market is segmented based on design, installation, type, application, and country. Based on design, the tunnel lighting market is sub-segmented into standard and customized. The standard segment dominated the market in 2020 and customized segment is expected to be the fastest growing during the forecast period. Based on installation, the tunnel lighting market is categorized into surface mounted, hanging, recessed/side wall mounted. The surface mounted dominated the market in 2020 and hanging segment is expected to be the fastest growing during the forecast period. Based on type, the market is segmented into LED lighting, incandescent lighting, fluorescent lighting, and others. The LED lighting segment dominated the market in 2020 and incandescent lighting segment is expected to be the fastest growing during the forecast period. Based on application, the market is segmented into mining tunnels, roadway tunnels, railway tunnels, and others. The mining tunnels segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on country, the market is segmented into US, Canada, and Mexico.
North America is one of the leading regions in terms of the development and adoption of new technologies; this is mainly attributed to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industrial sector hampers the economic growth of the region. Presently, the US is the world’s worst-affected country due to COVID-19 outbreak. The tunnel lighting market’s reliance on manufacturing industry like construction companies and electronics component manufacturers has been highlighted by the recent pause in manufacturing units due to COVID. As a result, the number of tunnel construction projects worldwide is increasing. The increased number of tunnels being built is driving up demand for tunnel lighting, which is projected to continue in the foreseeable future. The overall demand for tunnel lighting is likely to increase once the industries attain normal operational conditions; these lighting is much needed because of the rise in safety regulations. Owing to the favorable government policies and ever-increasing investment by North American countries in infrastructure building, North America has a large demand for tunnel lights. Any impact on manufacturing sector is projected to have a negative influence on the region's economic development.
ACUITY BRANDS, INC.; Aeon Lighting Technology Inc.; Cree Lighting; GE Lighting; Kenall Manufacturing; Signify Holding (Philips); Thorlux Lighting; and Tungsramare among the leading companies in the North America tunnel lighting market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Acuity Brands ams and OSRAM Reach an Agreement for Acuity to acquire the ams OSRAM Digital Systems Business in North America.
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