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Demand for outdoor general purpose lighting fixtures is forecast to rise 4.7% annually through 2024 to $5.5 billion due to:
- the rising use of high-end outdoor fixtures for commercial buildings
- efforts to upgrade existing outdoor fixtures in the nonbuilding market with energy efficient fixtures
- increased interest in outdoor living among homeowners
Despite Near Term Weakness, Commercial Buildings to Market Driver
Over half of outdoor lighting fixtures are installed in commercial buildings, where demand declined slightly in 2020. The COVID-19 pandemic prompted businesses to shift employees to telecommuting and, in some cases, shutter for parts of the year, resulting in unoccupied buildings. While improvement and repair spending and the need for new commercial structures was reduced in the near term, in some cases these changes boosted interest in outdoor lighting among building owners who were concerned about protecting their physical investments and the greater potential for trespassers.
Over the longer term, commercial buildings will resume using more and more efficient lights:
- Institutional and industrial structures are increasingly installing area lighting fixtures and floodlighting on their properties in outdoor areas such as parking lots to improve security and safety.
- Commercial building owners are increasingly opting for high-end products, including energy-efficient LED products and fixtures that use motion sensor technology, as the long-term cost savings of these products offsets their higher initial costs.
Efforts to Improve Streetlight Efficiency Are Supporting Demand Growth
Roadway lighting is an energy-intensive application – requiring high brightness and operation for many hours each day – which is leading many municipalities and utilities to become more proactive in adopting energy-efficient LED lighting to reduce operating costs. While retrofit LED lamps are available, most adopters install new LED-ready or LED-integrated fixtures in order to optimize their energy savings. For instance, Smart Street lighting NY program is a partnership between the New York Power Authority and Signify to replace over 500,000 streetlights in the state with energy-efficient LED products by 2025.
Though More Niche, Interest in Outdoor Living to Boost Use Residential Market
Increased homeowner interest in outdoor living will also boost outdoor lighting fixture demand growth. In order to create outdoor areas more suitable for cooking and entertaining, homeowners will install more extensive and higher-end lighting fixtures. This trend has been hastened by the COVID-19 pandemic, as many homeowners sought to make their homes a more appealing place, particularly as the closure of restaurants, bars, and more limited options for entertainment outside the home. Products that will be specified for these purposes include area lighting and floodlights, many of which are motion-activated and can be adjusted remotely.
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Table of Contents
1. Executive Summary
2. About This Report
Report Details
Study Scope & Product Description
3. Impact of COVID-19 Pandemic
4. Overview
Historical Market Trends
Supply & Demand
Demand by Market
Demand by Light Source
Pricing Trends
5. Products
Demand by Product
Area Lighting
Flood & Security Lights
Roadway Lighting
Spotlighting & Other Outdoor Lighting Fixtures
6. Key Suppliers & Market Share
Industry Composition
Market Share
Mergers & Acquisitions
7. Appendix
Scope
Definitions
Freedonia Methodology
Study-Specific Methodology
Sources
Associations & Agencies
Related Studies & Reports
Macroeconomic Assumptions
Economic Environment
Demographics
Consumer Spending
Building Construction
Residential Building Construction
Residential Improvements & Repairs
Housing Completions
Housing Stock
Commercial Building Construction
Commercial Building Improvements & Repairs
Nonbuilding Construction Expenditures
Manufacturers' Shipments
Highway Spending
List of Tables
3. Impact of COVID-19 Pandemic
Table 3-1 | Annual General Purpose Lighting Fixture Demand by Market, 2019 - 2021 (million dollars)
Table 3-2 | Annual General Purpose Lighting Fixture Demand by Product, 2019 - 2021 (million dollars)
4. Overview
Table 4-1 | Outdoor Lighting Fixture Demand, 2009 - 2019 (million dollars)
Table 4-2 | Outdoor Lighting Fixture Supply & Demand, 2009 - 2029 (million dollars & million 2012 dollars)
Table 4-3 | Outdoor Lighting Fixture Demand by Market, 2009 - 2029 (million dollars)
Table 4-4 | Outdoor Lighting Fixture Demand by Light Source, 2009 - 2029 (million dollars)
5. Products
Table 5-1 | Outdoor Lighting Fixture Demand by Product, 2009 - 2029 (million dollars)
Table 5-2 | Outdoor Area Lighting Fixture Demand by Type & Market, 2009 - 2029 (million dollars)
Table 5-3 | Flood & Security Lighting Fixture Demand by Market, 2009 - 2029 (million dollars)
Table 5-4 | Roadway Lighting Fixture Demand, 2009 - 2029 (million dollars)
Table 5-5 | Other Outdoor Lighting Fixture Demand by Type & Market, 2009 - 2029 (million dollars)
6. Key Suppliers & Market Share
Table 6-1 | Selected Mergers & Acquisitions
7. Appendix
Table 7-1 | Relevant Industry Codes
Table 7-2 | Relevant HS/HTS Codes
Table 7-3 | Macroeconomic Indicators, 2009 - 2029 (billion 2012 dollars)
Table 7-4 | Population & Households, 2009 - 2029 (million persons)
Table 7-5 | Personal Consumption Expenditures, 2009 - 2029 (billion dollars)
Table 7-6 | Building Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)
Table 7-7 | Residential Building Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)
Table 7-8 | Residential Improvement & Repair Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)
Table 7-9 | New Housing Indicators, 2009 - 2029
Table 7-10 | Housing Stock by Type, 2009 - 2029 (million units)
Table 7-11 | Commercial Building Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)
Table 7-12 | Commercial Building Improvement & Repair Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)
Table 7-13 | Nonbuilding Construction Expenditures, 2009 - 2029 (billion dollars & billion 2012 dollars)
Table 7-14 | Manufacturers' Shipments, 2009 - 2029 (billion dollars)
Table 7-15 | Highway Spending by Type, 2009 - 2029 (billion dollars)
List of Figures
1. Executive Summary
Figure 1-1 | US Outdoor Lighting Fixtures Market
2. About This Report
Figure 2-1 | Outdoor Lighting Fixtures: Product Examples
3. Impact of COVID-19 Pandemic
Figure 3-1 | Outdoor Lighting Fixture Demand Annual Growth 2018 - 2024 (% annual change)
4. Overview
Figure 4-1 | Outdoor Lighting Fixture Demand, 2009 - 2019 (million dollars)
Figure 4-2 | Outdoor Lighting Fixture Demand by Market, 2009 - 2029 (million dollars)
Figure 4-3 | Outdoor Lighting Fixture Demand by Light Source, 2009 - 2029 (million dollars)
Figure 4-4 | Outdoor Lighting Fixture Pricing, 2009 - 2019 (2012=100)
5. Products
Figure 5-1 | Outdoor Lighting Fixture Demand by Product, 2009 - 2029 (million dollars)
Figure 5-2 | Outdoor Area Lighting Fixture Demand by Market, 2009 - 2029 (million dollars)
Figure 5-3 | Flood & Security Lighting Fixture Demand by Market, 2009 - 2029 (million dollars)
Figure 5-4 | Other Outdoor Lighting Fixture Demand by Market, 2009 - 2029 (million dollars)
6. Key Suppliers & Market Share
Figure 6-1 | US Outdoor General Purpose Lighting Fixture Market Share by Company, 2019 (billion dollars)
7. Appendix
Figure 7-1 | Annual Growth in Real GDP, 2000 - 2019, Compared to 1980 - 2005 Average (percent)
Figure 7-2 | Annual Population Growth, 2004 - 2019 (percent)
Figure 7-3 | New Housing Square Footage by Housing Type, 2004 - 2019
Figure 7-4 | Housing Stock: Share by Year of Construction, 2019 (million units)
© by The Freedonia Group, a division of MarketResearch.com