North America Tunnel Lighting Market to Grow at a CAGR of 4.5% to reach US$ 666.51 Million from 2021 to 2028
The tunnel lighting market in North America is expected to grow from US$ 488.71 million in 2021 to US$ 666.51 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028.
The US, Canada, and Mexico are economies in North America. The railway plays a pivotal role in the transport system of any economy as the development of trade, industry, and commerce is largely dependent upon development of transport infrastructure. The railways are not only considered the cost efficient but also a reliable source of transport. Large amount of goods and passengers can be transported over long distances with minimum possibilities of failures or delays compared to roadways. Moreover, load capability of trains is flexible as the number of wagons can be increased or decreased. Furthermore, it is also one of the environmentally friendly means of transport as modern rail engines are electrically powered unlike conventional diesel-powered engines. Owing to these benefits, governments across the region is increasingly focusing on developing their railway network. Thus, the growing railway network is projected to drive the tunnel lighting market.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the tunnel lighting market. The North America tunnel lighting market is expected to grow at a good CAGR during the forecast period.
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North America Tunnel Lighting Market Segmentation
North America Tunnel Lighting Market – By Design
- Standard
- Customized
North America Tunnel Lighting Market – By Installation
- Surface Mounted
- Hanging
- Recessed/side wall mounted
North America Tunnel Lighting Market – By Type
- LED lighting
- Incandescent lighting
- Fluorescent lighting
- Others
North America Tunnel Lighting Market – By Application
- Mining Tunnels
- Roadway Tunnels
- Railway Tunnels
- Others
North America Tunnel Lighting Market- By Country
- US
- Canada
- Mexico
North America Tunnel Lighting Market-Companies Mentioned
- ACUITY BRANDS, INC.
- Aeon Lighting Technology Inc.
- Cree Lighting
- GE Lighting
- Kenall Manufacturing
- Signify Holding (Philips)
- Thorlux Lighting
- Tungsram
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Design, Installation, Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Tunnel Lighting Market – By Design
1.3.2 North America Tunnel Lighting Market – By Installation
1.3.3 North America Tunnel Lighting Market – By Type
1.3.4 North America Tunnel Lighting Market – By Application
1.3.5 North America Tunnel Lighting Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Tunnel Lighting Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Tunnel Lightning Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growth in Railway Infrastructure
5.1.2 Rising Need for Road Safety
5.2 Key Market Restraints
5.2.1 High Value of Tunnel Lighting System
5.3 Key Market Opportunities
5.3.1 Expansion in Mining Industry
5.4 Future Trends
5.4.1 Rise in Use of LEDs
5.5 Impact Analysis of Drivers and Restraints
6. Tunnel Lighting Market – North America Analysis
6.1 North America Tunnel Lighting Market Overview
6.2 North America Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Tunnel Lighting Market Analysis by Design
7.1 Overview
7.2 North America Tunnel Lighting Market Breakdown, by Design, 2020 and 2028
7.3 Standard
7.3.1 Overview
7.3.2 Standard: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
7.4 Customized
7.4.1 Overview
7.4.2 Customized: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
8. North America Tunnel Lighting Market Analysis by Installation
8.1 Overview
8.2 North America Tunnel Lighting Market, by Installation (2020 and 2028)
8.3 Surface Mounted
8.3.1 Overview
8.3.2 Surface Mounted: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Hanging
8.4.1 Overview
8.4.2 Hanging: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Recessed/Side Wall Mounted
8.5.1 Overview
8.5.2 Recessed/Side Wall Mounted: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Tunnel Lighting Market Analysis by Type
9.1 Overview
9.2 North America Tunnel Lighting Market, by Type (2020 and 2028)
9.3 LED Lighting
9.3.1 Overview
9.3.2 LED Lighting: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Incandescent Lighting
9.4.1 Overview
9.4.2 Incandescent Lighting: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Fluorescent lighting
9.5.1 Overview
9.5.2 Fluorescent lighting: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Tunnel Lighting Market Analysis by Application
10.1 Overview
10.2 North America Tunnel Lighting Market Breakdown, by Application, 2020 and 2028
10.3 Mining Tunnels
10.3.1 Overview
10.3.2 Mining Tunnels: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
10.4 Roadway Tunnels
10.4.1 Overview
10.4.2 Roadway Tunnels: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
10.5 Railway Tunnels
10.5.1 Overview
10.5.2 Railway Tunnels: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
10.6 Others
10.6.1 Overview
10.6.2 Others: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
11. North America Tunnel Lighting Market – Country Analysis
11.1 Overview
11.1.1 North America: Tunnel Lighting Market, by Key Country
11.1.1.1 US: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 US: Tunnel Lighting Market, by Design
11.1.1.1.2 US: Tunnel Lighting Market, by Installation
11.1.1.1.3 US: Tunnel Lighting Market, by Type
11.1.1.1.4 US: Tunnel Lighting Market, by Application
11.1.1.2 Canada: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Canada: Tunnel Lighting Market, by Design
11.1.1.2.2 Canada: Tunnel Lighting Market, by Installation
11.1.1.2.3 Canada: Tunnel Lighting Market, by Type
11.1.1.2.4 Canada: Tunnel Lighting Market, by Application
11.1.1.3 Mexico: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Mexico: Tunnel Lighting Market, by Design
11.1.1.3.2 Mexico: Tunnel Lighting Market, by Installation
11.1.1.3.3 Mexico: Tunnel Lighting Market, by Type
11.1.1.3.4 Mexico: Tunnel Lighting Market, by Application
12. Impact of COVID-19 Pandemic on North America Tunnel Lighting Market
12.1 Overview
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 New Product Development
14. Company Profiles
14.1 ACUITY BRANDS, INC.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Kenall Manufacturing
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Aeon Lighting Technology Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Signify Holding (Philips)
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Thorlux Lighting
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Tungsram
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Cree Lighting
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 GE Lighting
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. North America Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. US: Tunnel Lighting Market, by Design –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Tunnel Lighting Market, by Installation –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Tunnel Lighting Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Tunnel Lighting Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Tunnel Lighting Market, by Design – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Tunnel Lighting Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Tunnel Lighting Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Tunnel Lighting Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Tunnel Lighting Market, by Design – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Tunnel Lighting Market, by Installation – Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: Tunnel Lighting Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Tunnel Lighting Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Tunnel Lighting Market Segmentation
Figure 2. North America Tunnel Lighting Market Segmentation – By Country
Figure 3. North America Tunnel Lighting Market Overview
Figure 4. Standard Segment held the Largest Share of North America Tunnel Lighting Market
Figure 5. Surface Mounted Segment held the Largest Share of North America Tunnel Lighting Market
Figure 6. LED lighting Segment held the Largest Share of North America Tunnel Lighting Market
Figure 7. Roadway Tunnels Segment held the Largest Share of North America Tunnel Lighting Market
Figure 8. US to Show Great Traction During Forecast Period
Figure 9. North America: PEST Analysis
Figure 10. Expert Opinion
Figure 11. North America Tunnel Lightning Market Impact Analysis of Drivers and Restraints
Figure 12. North America Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Tunnel Lighting Market Revenue Share, by Design (2020 and 2028)
Figure 14. North America Standard: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Customized: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Tunnel Lighting Market Revenue Share, by Installation (2020 and 2028)
Figure 17. North America Surface Mounted: Tunnel Lighting Market– Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Hanging: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Recessed/Side Wall Mounted: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Tunnel Lighting Market Revenue Share, by Type (2020 and 2028)
Figure 21. North America LED Lighting: Tunnel Lighting Market– Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Incandescent Lighting: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Fluorescent lighting: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America Others: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Tunnel Lighting Market Revenue Share, by Application (2020 and 2028)
Figure 26. North America Mining Tunnels: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. North America Roadway Tunnels: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. North America Railway Tunnels: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. North America Others: Tunnel Lighting Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. North America: Tunnel Lighting Market, by Key Country- Revenue 2020 (US$ Million)
Figure 31. North America: Tunnel Lighting Market Revenue Share, by Key Country (2020 & 2028)
Figure 32. US: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Canada: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Mexico: Tunnel Lighting Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic on Market in North American Countries
- ACUITY BRANDS, INC.
- Aeon Lighting Technology Inc.
- Cree Lighting
- GE Lighting
- Kenall Manufacturing
- Signify Holding (Philips)
- Thorlux Lighting
- Tungsram
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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