Asia Pacific Outdoor LED Lighting Market Size and Share
Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 9.71 Billion |
| Market Size (2030) | USD 14.84 Billion |
| Growth Rate (2025 - 2030) | 8.86% CAGR |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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Asia Pacific Outdoor LED Lighting Market Analysis by Mordor Intelligence
The Asia Pacific outdoor LED lighting market size is estimated at USD 9.71 billion in 2025 and is projected to reach USD 14.84 billion by 2030, growing at an 8.86% CAGR. Steady policy support for smart-city infrastructure, mandatory energy-efficiency codes, and rapid declines in average selling prices have kept the Asia Pacific outdoor LED lighting market on a clear growth path. China’s national smart-city agenda generates large procurement volumes, while India’s urban renewal and rural electrification programs open sizable incremental demand. Falling component costs have reduced payback periods to fewer than three years even without subsidies, encouraging budget-constrained municipalities to accelerate replacement cycles. Municipalities also favor networked luminaires with adaptive controls, which can add 15-20% in energy savings when linked to traffic or environmental sensors, further strengthening the total cost-of-ownership case. Competitive pressure remains high because European technology leaders and cost-optimized Asian OEMs target the same tenders, driving continuous innovation in thermal management, optics, and controls.
Key Report Takeaways
- By product type, luminaires held 71.3% of the Asia Pacific outdoor LED lighting market share in 2024. The lamps sub-segment is projected to grow at a 9.6% CAGR by 2030.
- By application, street and roadway projects continue to anchor 45.7% of 2024 revenues ports and stadium lighting is forecast to expand at an 11.3% CAGR through 2030.
- By installation type, greenfield construction delivered 56.4% of 2024 revenue, and retrofit activity is set to grow at a 9.8% CAGR to 2030.
- By distribution channel, direct sales accounted for 65.2% of the Asia Pacific outdoor LED lighting market size in 2024, and e-commerce portals are expected to rise at a 9.2% CAGR to 2030.
- By country, India has a 9.7% CAGR through 2030, the fastest in the region.
Asia Pacific Outdoor LED Lighting Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Government-funded smart-city roll-outs | +2.1% | China, India, Philippines, Thailand | Medium term (2-4 years) |
| Mandatory energy-efficiency codes and bans on HID/fluorescent lamps | +1.8% | Global, with early adoption in Australia, Japan | Short term (≤ 2 years) |
| Rapid fall in LED chip and luminaire ASPs | +1.5% | APAC core, spill-over to Southeast Asia | Short term (≤ 2 years) |
| Second-wave replacement cycle for 2014-16 installations | +1.2% | China, South Korea, developed urban centers | Medium term (2-4 years) |
| Solar-hybrid street-lighting mandates in island and rural micro-grids | +0.9% | Indonesia, Philippines, island territories | Long term (≥ 4 years) |
| China and India export-linked incentives expanding low-cost OEM capacity | +1.1% | China, India, with export to Southeast Asia | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Government-funded Smart-city Roll-outs
Municipal agencies across China, India, and the Philippines continue to treat connected outdoor lighting as a foundational layer of smart cities, enabling integrated traffic, safety, and environmental services. The Philippines completed LED upgrades in 145 cities in 2024, adding network controls that reduced energy consumption by an additional 15-20% beyond the basic LED efficiency.[1]Department of Energy Philippines, “LED Streetlight Conversion Program,” Doe.gov.ph Hong Kong and Taiwan now specify IoT-ready poles that support sensors and Wi-Fi radios, reinforcing the Asia Pacific outdoor LED lighting market as a platform for wider digital services. High-volume procurement creates standardization and predictable demand, while long-term service contracts help municipalities shift from capex to opex budgets.
Mandatory Energy-Efficiency Codes and Bans on HID/Fluorescent Lamps
Australia’s 2024 National Construction Code bans inefficient HID fixtures in new outdoor installations, and Japan’s revised Energy Conservation Act sets performance thresholds met only by LED systems. These mandates effectively remove legacy options, making LED the default in public tenders. Indonesia and Thailand have followed suit with LED-only purchasing rules for state infrastructure, accelerating adoption among smaller municipalities that once deferred upgrades.[2]China Daily, “Export Tax Rebate Policy Changes,” Chinadaily.com.cn
Rapid Fall in LED Chip and Luminaire ASPs
Average selling prices for outdoor LED luminaires declined 15-20% in 2024 as large Chinese fabs ramped capacity and multinationals such as Signify localized production.[3]Signify N.V., “Annual Report 2024,” Signify.com The cost drop improves payback economics for cash-strapped towns, while competitive pressure forces suppliers to differentiate themselves on smart controls and ruggedization, rather than relying solely on basic efficiency. Regional manufacturing shifts to Vietnam and Thailand further compress costs and diversify supply chains.
Second-wave Replacement Cycle for 2014-16 Installations
First-generation LED streetlights, installed a decade ago, now approach the end of their life and lack today’s connectivity functions. Cities in South Korea and eastern China have budgeted for LED-to-LED upgrades that incorporate adaptive dimming, real-time fault detection, and higher-efficiency chips. The overlap with expiring warranties aligns operational and financial incentives, creating a steady stream of retrofit tenders through 2028.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Up-front CAPEX vs. conventional fixtures | -1.4% | Southeast Asia, rural markets | Short term (≤ 2 years) |
| Premature lumen depreciation in hot/humid tropical climates | -0.8% | Indonesia, Philippines, Malaysia, Thailand | Medium term (2-4 years) |
| Fragmented municipal procurement and lengthy tender cycles | -0.6% | India, Philippines, smaller municipalities | Medium term (2-4 years) |
| Proliferation of low-quality clones causing performance-trust gap | -0.5% | Regional markets with weak quality enforcement | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Up-front CAPEX vs. Conventional Fixtures
Despite lifecycle savings, LED systems still cost two to three times more than basic HID units, straining limited capital budgets in smaller Southeast Asian municipalities. Financing structures often split capital and operating accounts, making it hard to apply future energy savings to today’s purchase. ESCO contracts can help, but they require sophisticated procurement skills that many local governments lack.
Premature Lumen Depreciation in Hot/Humid Tropical Climates
Average ambient temperatures above 35 °C, combined with high humidity, accelerate phosphor degradation, reducing light output years before the rated life ends. [4] IEEE Transactions on Device and Materials Reliability, “LED Performance in High Temperature Environments,” Ieeexplore.ieee.org Salt-laden coastal air also corrodes housings and drivers, raising maintenance spend and eroding confidence among early adopters. Suppliers now add heavier heat sinks and improved gasketing, but the extra materials lift prices and weight.
Segment Analysis
By Product Type: Luminaires Remain the Value Anchor
The luminaires category accounted for 71.3% of the 2024 revenue in the Asia Pacific outdoor LED lighting market, underscoring the higher unit value of complete systems that integrate optics, drivers, and controls. Advanced products bundle sensors, network nodes, and asset-management software, commanding premiums that many municipalities accept for data-driven operations. The lamps sub-segment, although smaller, is projected to grow at a 9.6% CAGR as early LED or legacy HID sockets undergo drop-in retrofits. Replacement cycles are expected to intensify from 2026 onward, when installations dating back to 2014-2016 hit end-of-warranty thresholds. Policies in Japan and Australia that allow lamp-only retrofits in heritage districts also support unit demand.
Modular lamp upgrades appeal to budget-constrained councils because fixtures and poles remain in place, reducing the complexity of installation and permitting. Yet, the technical ceiling for lamps is lower; connectivity and directional optics are more challenging to integrate, which limits long-term value compared to full luminaire swaps. Suppliers, therefore, position lamps as a transitional step while steering customers toward connected luminaires for forthcoming procurement rounds.
By Application: Sports Lighting Picks Up Speed
Street and roadway projects continue to anchor 45.7% of 2024 revenue, reflecting the vast installed base of municipal roads. These deployments rarely face funding uncertainty because safety and energy targets align. The sports and stadium segment, however, is expected to post the highest 11.3% CAGR through 2030, as countries prepare venues for regional competitions and community recreation. Broadcast-quality uniformity and flicker-free slow-motion capture requirements favor premium LED systems, driving higher average sale prices per watt.
Sports installations also showcase dynamic color tuning and show-lighting effects that raise public awareness of LED benefits, indirectly supporting broader municipal adoption. Architectural façades and landscape lighting gain modest traction because RGBW fixtures create tourist-friendly nightscapes, though budgets in this category remain discretionary and thus more cyclical.
By Installation Type: Retrofit Momentum Strengthens
Greenfield construction delivered 56.4% of 2024 revenue, supported by new highways and township developments in China and India. However, retrofit activity is expected to accelerate at a 9.8% CAGR as the Asia Pacific outdoor LED lighting market matures. Aging HID networks and first-generation LEDs offer immediate energy and maintenance savings when swapped for today's higher-efficacy models. Utility rebates in Seoul and Singapore reimburse up to 30% of material costs, shortening payback to under two years in dense urban areas.
Retrofit contractors have developed bracket and wiring kits that enable one-for-one replacements, reducing road-closure times and labor costs. Software upgrades push additional value: wireless nodes plug into existing NEMA sockets, enabling asset tracking without pole changes. Although retrofits cannot always achieve the optimal pole spacing of new designs, municipalities can still gain efficiency and connectivity within constrained budgets.
By Distribution Channel: Digital Procurement Gains Ground
Direct project-based procurement dominates with a 65.2% share because large municipal jobs require photometric layout, compliance documents, and installation supervision. Still, e-commerce portals are expected to rise at a 9.2% CAGR as smaller towns and private campuses source standardized SKUs online. Marketplaces now embed specification filters, lighting design calculators, and live technical chat, narrowing the service gap with traditional distributors. Digital invoices and e-tender integrations also streamline public-sector purchasing rules.
Hybrid models are emerging: manufacturers maintain field engineers for site surveys but finalize orders through secure online catalogs that tie into municipal ERP systems. This workflow reduces transaction costs and maintains audit trails, aligning with the procurement reforms underway on India's GeM portal and similar platforms.
Geography Analysis
China retained a 35.9% revenue share in 2024, leveraging its vast manufacturing base and aggressive domestic smart-city budgets. Projects in Shanghai, Shenzhen, and Chengdu now link streetlights to autonomous-vehicle data feeds, highlighting China's early move toward multi-service poles. Export rebate adjustments in 2024 briefly tightened margins, but domestic "equipment renewal" subsidies offset local demand risks. Consolidation, exemplified by Sanan's USD 239 million acquisition of Lumileds, provides Chinese suppliers with deeper IP portfolios and global channels.
India's 9.7% forecast CAGR leads the region. Federal programs, such as the Smart Cities Mission and PM-KUSUM, drive both grid-tied and solar-hybrid deployments. The Signify-Dixon venture bolsters local production, while states bundle lighting upgrades with broader urban-service PPP models. Tender delays remain a hurdle; Nashik's legal dispute over a 50,000-lamp contract highlights the procedural complexity, yet overall bid volumes continue to rise.
Japan and South Korea record stable replacement demand. Their municipal owners pivot from pure efficiency to data insights, procuring luminaires with LiDAR and air-quality sensors. Southeast Asian nations, notably the Philippines, Thailand, and Indonesia, exhibit strong project pipelines tied to tourism, industrial parks, and disaster-resilient infrastructure. The Philippines' nationwide conversion illustrates the scale possible when national energy offices coordinate funding.
Australia and New Zealand enforce strict energy codes, ensuring consistent demand for retrofits. Smaller Pacific islands are adopting solar-hybrid poles to avoid costly diesel generation, positioning weatherized LED units as critical components in rural microgrids.
Competitive Landscape
The Asia Pacific outdoor LED lighting market remains fragmented, with no single vendor holding double-digit regional share. European incumbents Signify and OSRAM rely on technology leadership and service contracts, while Chinese players leverage economies of scale. Mid-tier challengers from Taiwan are pivoting toward silicon photonics, creating space for niche OEMs that specialize in tropicalized luminaires with superior sealing and heat dissipation.
Investment in smart controls defines the new battleground. Vendors differentiate via open-protocol mesh networks, predictive maintenance algorithms, and cybersecurity certifications demanded by city IT departments. Supply chain reshoring toward Vietnam and Thailand reduces dependence on single-country risk and qualifies products for local content incentives. As quality standards tighten, manufacturers invest in in-house driver electronics and optics rather than outsourcing, aiming to control critical reliability parameters.
Strategic moves intensify: Wanrun built a Thai plant in 2024 to shorten lead times into ASEAN, and IL Cellion consolidated its lamp value chain into a smart factory in South Korea in 2025, targeting a 20% reduction in logistics costs. Everlight’s shift into SiC components in 2025 hedges against commoditization in mainstream LEDs, while Sanan’s acquisition of Lumileds secures advanced phosphor IP for automotive and horticultural niches. These actions collectively raise the technology floor and compress the cost gap between premium and value tiers.
Asia Pacific Outdoor LED Lighting Industry Leaders
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Signify N.V.
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ams OSRAM GmbH
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Seoul Semiconductor Co., Ltd.
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Nichia Corporation
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Cree Lighting (IDEAL Industries)
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- September 2025: Multiple Taiwanese LED manufacturers joined a TSMC-led silicon-photonics alliance to repurpose advanced LED capacity for AI optical interconnects.
- August 2025: IL Cellion moved its headquarters to the Cheonan Smart Factory, creating an integrated lamp production chain that cuts logistics costs by 20% and lead times by 30%.
- June 2025: Everlight Electronics announced a strategic pivot into SiC power components and photonics, with pilot production slated for the second half of 2025.
- December 2024: Wanrun Technology opened an LED production facility in Rayong Province, Thailand, completing the build and commissioning in four months to serve Belt and Road projects.
Asia Pacific Outdoor LED Lighting Market Report Scope
Public Places, Streets and Roadways, Others are covered as segments by Outdoor Lighting. China, India, Japan are covered as segments by Country.| Lamps |
| Luminaires/ Fixtures |
| Street and Roadway Lighting |
| Architectural and Landscape |
| Sports and Stadium |
| Tunnel and Bridge |
| Parking and Transit Areas |
| Other Applications |
| New Installation |
| Retrofit Installation |
| Direct Sales |
| Wholesale Retail |
| E-commerce |
| China |
| India |
| Japan |
| South Korea |
| Southeast Asia |
| Rest of Asia-Pacific |
| By Product Type | Lamps |
| Luminaires/ Fixtures | |
| By Application | Street and Roadway Lighting |
| Architectural and Landscape | |
| Sports and Stadium | |
| Tunnel and Bridge | |
| Parking and Transit Areas | |
| Other Applications | |
| By Installation Type | New Installation |
| Retrofit Installation | |
| By Distribution Channel | Direct Sales |
| Wholesale Retail | |
| E-commerce | |
| By Country | China |
| India | |
| Japan | |
| South Korea | |
| Southeast Asia | |
| Rest of Asia-Pacific |
Market Definition
- INDOOR LIGHTING - It incorporates all LED based lamps and fixtures/luminaire that are used to illuminate indoor section of residential, commercial, industrial buildings and agricultural lighting. LED offers efficient brightness with higher durability in comparison to other lighting technology.
- OUTDOOR LIGHTING - It incorporates the LED lighting fixtures that is used for illumination for exterior/outdoor illumination. For instance, LED lighting fixtures used to illuminate streets and highways, transport hubs, stadiums and other public places such as parking spaces.
- AUTOMOTIVE LIGHTING - It refers to the lighting fixtures installed for illumination and signaling purposes. It is used in both exterior and interior lighting of the vehicle. Headlamps, fog lamp, daytime running light (DRLs) are examples of exterior light whereas cabin light are interior lights.
- END USER - It refers to the end use application area where the LED fixture will be installed. For instance, in terms of indoor lighting, we have residential, commercial and industrial as end user category. For automotive lighting, primary end user considered are automotive manufacturers and aftermarket sale
| Keyword | Definition |
|---|---|
| Lumen | Lumen is a unit of luminous flux in the International System of Units that is equal to the amount of light given out through a solid angle by a source of one-candela intensity radiating equally in all directions. |
| Footcandle | A foot-candle (or foot-candle, fc, lm/ft2, or ft-c) is a measurement of light intensity. One foot-candle is defined as enough light to saturate a one-foot square with one lumen of light. |
| Colour Rendering Index (CRI) | Color Rendering Index (CRI) is a measurement of how natural colors render under an artificial white light source when compared with sunlight. The index is measured from 0-100, with a perfect 100 indicating that colors of objects under the light source appear the same as they would under natural sunlight. |
| Luminous flux | Luminous flux is a measure of the power of visible light produced by a light source or light fitting. It is measured in lumens (lm). |
| Annual Energy Cost | Annual Energy Cost means the average daily energy consumption multiplied by 365 (days per year), expressed in kilowatt hour per year (kWh/a). |
| Constant voltage drivers | Constant voltage drivers are designed for a single direct current (DC) output voltage. Most common constant voltage drivers (or Power Supplies) are 12VDC or 24VDC. An LED light that is rated for constant voltage usually specifies the amount of input voltage it needs to operate correctly. |
| Constant Current Driver | Constant current LED drivers are designed for a designated range of output voltages and a fixed output current (mA). LEDs that are rated to operate on a constant current driver require a designated supply of current usually specified in milliamps (mA) or amps (A). These drivers vary the voltage along an electronic circuit which allows current to remain constant throughout the LED system. |
| Minimum Energy Performance Standards (MEPS) | Minimum Energy Performance Standards specify the minimum level of energy performance that appliances and equipment must meet or exceed before they can supply or used for commercial purposes. |
| Luminous Efficacy | Luminous efficacy is a measurement commonly used in the lighting industry that indicates the ability of a light source to emit visible light using a given amount of power. |
| Solid State Lighting | Solid-state lighting (SSL) is a type of lighting that uses semiconductor light-emitting diodes (LEDs), organic light-emitting diodes (OLED), or polymer light-emitting diodes (PLED) as sources of illumination rather than electrical filaments, plasma (used in arc lamps such as fluorescent lamps), or gas. |
| Rated Lamp Life | Lamp life, also referred to as rated life, is the time in hours a lamp will last before a percentage of lamps will burn out. |
| Color Temperature | Colour temperature is a scale that measures how ‘warm’ (yellow) or ‘cool’ (blue) the light from a particular source is. It is measured in degrees of the Kelvin scale (abbreviated to K), and the higher the number, the ‘cooler’ the light. The lower the ‘K’ number, the ‘warmer’ the light. |
| Ingress Protection rating (IP rating) | The IP (Ingress Protection) rating of a bulb or light fixture declares the level of protection it has against dirt and water. |
| Fidelity Index | The general colour fidelity index, Rf, represents how closely the colour appearances of the entire sample set are reproduced (rendered) on average by a test light as compared to those under a reference illuminant. |
| Gamut Index | The gamut area is defined as “the area enclosed by a set of test color samples illuminated by a light source, in a two-dimensional chromaticity diagram or a plane of color space.”1 Within a defined color space, a “gamut” describes the subset of colors that can be perceived under specific lighting conditions. |
| Binning | In the lighting industry, the act of "binning" of LEDs is the process of sorting LEDs by certain characteristics, such as color, voltage, and brightness. |
| Accent lighting | Accent lighting, also called highlighting, emphasizes objects by focusing light directly on them. Accent lighting is used inside and outside the home to feature locations such as an entrance or to create dramatic effects. |
| Dimmable driver | A dimming driver has two functions: As a driver, it converts the 230V AC mains input to a low voltage DC output. As a dimmer, it reduces the amount of electrical energy flowing to the LEDs, thereby causing them to dim. |
| Flicker | Flicker is the repeated and frequent variation in the output of a light source over time. |
| Fluorescent | A property of materials defined as the ability to emit light after absorbing electromagnetic radiation such as visible or UV light. |
| Candela | The candela is the unit of luminous intensity in the International System of Units. It measures the light output per unit solid angle emitted from a light source in a specific direction. |
| LUX | Lux is used to measure the amount of light output in a given area - one lux is equal to one lumen per square meter. It enables us to measure the total "amount" of visible light present and the intensity of the illumination on a surface. |
| Uniformity (U0) | The uniformity of lighting has significant effects on visual performance in both indoor and outdoor areas. Uniformity (represented as U0) value can be found by dividing the minimum brightness (Emin) resulting from calculations according to the current lighting order, to the average brightness value (Eavg). |
| Visible Light Spectrum | The visible light spectrum is the segment of the electromagnetic spectrum that the human eye can view. More simply, this range of wavelengths is called visible light. Typically, the human eye can detect wavelengths from 380 to 700 nanometers. |
| Ambient Temperature | Ambient Temperature is the temperature of the air surrounding an electrical enclosure. |
| Current-controlled dimming control | Current-controlled dimming controls LED brightness by varying the applied current using a 0-10V dimmer. Current-controlled dimming is smooth and HD-video friendly. It can only dim to a minimum of 5% of light output. |
| Design Light Consortium | It is a partnership of energy efficiency stakeholders in the United States and Canada to “promote quality, performance and energy efficient lighting solutions for the commercial sector”. |
| Pulse Width Modulation | Pulse-width modulation, or pulse-duration modulation, is a method of controlling the average power delivered by an electrical signal. |
| Surface Mounted Device | A surface mount device (SMD) is an electronic device whose components are mounted or placed directly on the surface of a printed circuit board. |
| Alternating Current | Alternating current is an electric current which periodically reverses direction and changes its magnitude continuously with time, in contrast to direct current, which flows only in one direction. |
| Direct Current | Direct current (DC) is an electric current that is uni-directional, so the flow of charge is always in the same direction. |
| Beam Angle | Beam angle (also called beam spread) is a measure of how light is distributed. On any plane perpendicular to the centerline of the light, the beam angle is the angle between two rays where the light intensity is 50% of the maximum light intensity. |
| LED Based Solar High Mast Lighting Systems | A Solar LED High Mast Light is a raised source of High illumination lights (6~8 lights) and with high intensity on the middle of major junctions (Ring roads, Outer Ring roads), turned on or lit automatically in the absence of light (at specified timings or at periodic times, every night). |
| Surface Mounted Diode (SMD) LEDs | A surface mount diode is a type that emits light and is flat mounted and soldered onto a circuit board. |
| Chip on Board (COB) LEDs | A COB LED is basically multiple LED chips (usually 9 or more) glued directly onto a substrate by the manufacturer to form a single module. |
| Dual In-Line Package (DIP) LEDs | A dual in-line package (DIP or DIL) is an electronic component package with a rectangular case and two parallel rows of electrical connector pins. |
| Graphene LED Lights | A graphene LED light bulb is simply an LED light bulb where the filament has been coated in graphene. A graphene LED bulb is reported to be 10% more efficient than regular LED light bulbs and they are cheaper to manufacture and buy. |
| LED Corn Bulbs | LED Corn lights are designed as an energy efficient alternative to high intensity discharge (HID) and SON lamps. It uses a large number of LEDs on a metal structure to provide sufficient light. This arrangement of LEDs looks a lot like a corn cob, hence the name "corn light". |
| Per Capita Income | Per capita income or total income measures the average income earned per person in a given area in a specified year. It is calculated by dividing the area's total income by its total population. Per capita income is national income divided by population size. |
| Charging Stations | A charging station, also known as a charging station or electric vehicle utility, is a power supply that provides electrical energy for charging plug-in electric vehicles. |
| Headlight | A headlight is a light that is mounted on the front of a car and illuminates the road in front of it. Low beam and high beam LED headlights are additional categories for these LED headlights. |
| Day Time Running Light (DRLs) | A daytime running lamp is a white, yellow, or amber lighting device mounted on the front of a road-going motor vehicle or bicycle. |
| Directional Signal Light | Directional signal lights are the front and rear lights on an automobile that flash to show the direction of a turn. |
| Stop Light | A red light that is mounted to the back of a car and turns on when the brakes are used to show that the car is stopped. |
| Reverse Light | The reverse light is at the back of the vehicle to indicate its backward motion. |
| Tail Light | A red light that can be seen in the dark is mounted on the rear of a road vehicle. Stop, reverse, and directional signal lights are all part of it. |
| Fog Light | Bright lights in automobiles used to increase visibility on the road in foggy conditions or to warn other drivers of the presence of the vehicle. |
| Passenger Vehicle | A passenger vehicle is a road vehicle, other than a moped or a motorcycle, intended for the transportation of people and designed for up to 8 to 9 seats. |
| Commercial Vehicle | A commercial vehicle (Bus, Truck, Van) is any type of motor vehicle used to transport goods or pay passengers. |
| Two Wheelers (2W) | A two-wheeler is a vehicle that runs on two wheels. |
| Streets & Roadways | Both roads and streets refer to hard, flat surfaces on the ground on which vehicles, people, and animals can travel. Since streetways are usually in cities and towns, they often have houses and buildings on both sides. The roadway is in the countryside and sometimes passes through forests and fields |
| Horticulture Lighting | Horticulture is the science and art of sustainably growing, producing, marketing and using high quality, intensively cultivated food and ornamental plants. |
Research Methodology
Mordor Intelligence has followed the following methodology in all our data center reports.
- Step 1: Raw Data Collection: To understand the market, initially, all crtical data points were identified. Critical information about countries and regions of interest including Per-capita Income, Population, Automotive Production, Interest rate on Auto-Loans, Number of Automobiles on Road, Total LED Import, Lighting Electricity Consumption among others were recorded or estimated based on internal calculations.
- Step 2: Identify Key Variables: To build a robust forecasting model, key variables such as Number of Households, Automotive Production, Road Networks among others were identified. Through an iterative process, the variables required for the market forecast were set, and the model was built using these variables.
- Step 3: Build a Market Model: Based on data and critical industry trend data (variables), including LED pricing, LED penetration rate, and project macro and micor economic factors were utilized for building the market forecasting.
- Step 4: Validate and Finalize: In this crucial step, all market numbers and variables derived through an internal mathematical model were validated through an extensive network of primary research experts from all the markets studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step 5: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
