US Outdoor LED Lighting Market Size
Market Overview
| Study Period | 2017 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 1.89 Billion |
| Market Size (2030) | USD 2.32 Billion |
| Growth Rate (2025 - 2030) | 4.19% CAGR |
| Market Concentration | High |
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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US Outdoor LED Lighting Market Analysis
The US Outdoor LED Lighting Market size is estimated at 1.89 billion USD in 2025, and is expected to reach 2.32 billion USD by 2030, growing at a CAGR of 4.19% during the forecast period (2025-2030).
The US outdoor LED lighting industry is experiencing significant transformation driven by major infrastructure developments and urban modernization initiatives. The Kennedy Expressway Extension project, spanning 12 kilometers from Edens Expressway to Ohio Street in Chicago, exemplifies the scale of ongoing infrastructure investments. Cities across the nation are implementing comprehensive lighting modernization programs, as demonstrated by Philadelphia's ambitious project to convert 120,000 traditional streetlights into an advanced network of LED street lamp fixtures. These infrastructure developments are complemented by innovative financing models and public-private partnerships that facilitate large-scale lighting upgrades while ensuring cost-effectiveness and energy efficiency.
The retail sector's robust expansion is creating substantial opportunities for outdoor LED lighting applications. In a notable trend, retail store openings outpaced closures by nearly seven times in the first quarter of 2022, indicating strong market momentum. Target's strategic expansion in January 2023, launching 23 new locations to enhance shopping experiences for over two million guests, highlights the sector's growth trajectory. This retail expansion is driving increased demand for parking lot illumination, facade lighting, and other exterior lighting applications, contributing to market growth while emphasizing energy-efficient solutions.
Sports infrastructure development is emerging as a significant market catalyst, particularly with upcoming major sporting events. The renovation of Arrowhead Stadium, with its 76,416-seat capacity, marks a significant milestone in preparation for the 2026 World Cup, demonstrating the scale of infrastructure investments in sporting venues. The Chicago Smart Lighting Program's successful completion in February 2022, which replaced over 280,000 aging streetlights with high-efficiency LED fixtures, showcases the potential for large-scale urban lighting transformations. These projects are setting new standards for energy efficiency and technological integration in outdoor lighting systems.
The market is witnessing a shift toward smart city initiatives and integrated lighting solutions that go beyond basic illumination. Major transportation infrastructure projects, such as the 69 Express Toll Lane in Overland Park, Kansas, are incorporating advanced smart outdoor lighting systems as essential components. These developments are accompanied by innovative control systems and connectivity features that enable remote monitoring, adaptive lighting, and energy optimization. The integration of LED technology with smart city infrastructure is creating new opportunities for enhanced urban experiences while addressing sustainability goals and operational efficiency requirements. The implementation of outdoor lighting control systems further enhances these solutions, providing a comprehensive approach to modern urban lighting needs.
US Outdoor LED Lighting Market Trends
Upgradation, replacement, and construction of new stadiums to drive the growth of LED lights
- The number of stadiums segment is expected to witness a growth of 937 units in 2030 from 901 units in 2023. The sports sector has undergone several changes in recent years. For instance, NRG Stadium enhanced its professional football stadium status in 2014 by illuminating its pitch with several high-efficiency LED lights. At full power, the new high-efficiency system consumes 337 kW, 60% less than the stadium's prior lighting system. More than 65,000 light-emitting diodes (LEDs) installed in 480 optically improved luminaries make up the field lighting array. New Yankee Stadium underwent an LED lighting upgrade in 2015. Additionally, Kenan Stadium is now through a project to install LED stadium lights, while Gillette Stadium has spent more than USD 300 million renovating the venue, which includes adding LED lighting. These factors contribute to the growth of the LED market in the region.
- Americans are becoming more interested in watching live matches and other international leagues, as evidenced by USA Cricket's announcement in 2022 that it would invest USD 1.0 billion in the organization of the US T20 cricket league. Additionally, the nation is constantly building stadiums. For instance, work on the multifunctional Acrisure Arena began in California in 2021. The Coachella Valley Firebirds of the American Hockey League will play their home games in the stadium, which can accommodate 11,000 spectators. The 48th Copa América and the FIFA World Cup are two forthcoming sporting events in the nation. Consequently, it is anticipated that the building of new stadiums and the expansion of athletic events are expected to increase sales of LED lights in the country.
Increase in the number of households to drive the growth of the LED market
- In 2021, there were 332.18 million people living in the US as a whole. The overall fertility rate in the US was expected to be 1.66 children per woman in 2021. When compared to the prior year, it went up 0.01. In rough terms, there were 11 live births per 1,000 people in the US. This rose from the previous year by 0.1. In the US, the average life expectancy at birth was 76.33 years in 2021. According to the data, more children are being born and more people in the world, which means that more space will need to be inhabited by people, which will help the market expand. Thus, the sale of new LEDs will rise as a result of the building of the new home.
- The United States had 131.2 million households in 2022. There are now more households in the United States than there were in 2020 (128.45 million). In 2022, there were 3.13 people in the typical American family. The proportion of owner-occupied households in 2022 was 65.9%. In 2020, six or more rooms were present in 19.3% of all occupied dwelling units. The expansion of LEDs will be fueled by an increase in families and the need to accommodate this increase in the typical number of rooms.
- The market for electric cars (EVs) has expanded quickly and is anticipated to do so throughout the next ten years. From just 0.2% of all car sales in 2011 to 4.6% in 2021, electric car sales in the US grew. Over the decade of 2011–21, the number of EVs on the road increased significantly, from around 22,000 to over 2 million. As a result, the need for semiconductor chips used in various EV applications rose along with the popularity of EVs, raising the need for LED illumination.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- About 75% of the population is expected to own a car, and the shifting trend toward larger vehicles to drive the growth of LED lighting
- Increase in LED installation by 72% in commercial buildings, 56% in residential houses, and 83% in industries by 2025 to drive the growth of the LED market
- LED penetration is driven by LED certification for commercial spaces, which increased by 30% in 2022
- Reduction in imports from China to lead the growth of the LED lighting market in the country
- Increase in the number of private-owned dwellings and government regulations to drive the market for LEDs
Segment Analysis: Outdoor Lighting
Public Places Segment in US Outdoor LED Lighting Market
The Public Places segment dominates the US outdoor LED lighting market, commanding approximately 90% market share in 2024. This substantial market presence is driven by increasing investments in infrastructure development across airports, shopping malls, parking lots, and recreational facilities. The segment's growth is further supported by major retail expansion initiatives, such as Target's announcement to open 23 new locations to enhance shopping experiences for over two million guests. Additionally, the construction of new venues like the 25,000-seat soccer stadium in Queens, New York City, scheduled for completion in 2027, and the ongoing development of the USD 4 billion American Dream Mall project in Florida demonstrate the robust demand for outdoor lighting solutions in public spaces.
Public Places Segment in US Outdoor LED Lighting Market
As the fastest-growing segment in the market, Public Places is projected to expand at approximately 4% CAGR from 2024 to 2029. This growth trajectory is supported by several major infrastructure developments, including the USD 1.4 billion Highmark Stadium project in Orchard Park with a seating capacity of 62,000, scheduled for completion by 2026. The segment's expansion is further bolstered by increasing investments in tourism infrastructure, with international visitors spending reaching USD 12.6 billion on travel and tourist activities. The implementation of energy-efficient LED security lighting solutions in heritage sites, archaeological locations, and tourist attractions across major cities is expected to drive continued growth in this segment.
Remaining Segments in Outdoor Lighting
The Streets and Roadways segment, along with other applications like castles and forts, complete the market landscape for outdoor LED lighting. The Streets and Roadways segment is experiencing significant development through initiatives like the Washington DC Smart Street Lighting Project, which involves upgrading over 75,000 streetlights to energy-efficient LED bulbs. The other segment continues to evolve with specialized applications in historical monuments, sports facilities, and architectural lighting projects. Both segments benefit from ongoing infrastructure modernization efforts and the increasing adoption of smart lighting solutions across various applications, including LED pathway lighting and outdoor decorative lighting.
US Outdoor LED Lighting Industry Overview
Top Companies in US Outdoor LED Lighting Market
The market is characterized by continuous product innovation and technological advancement across major players. Companies are heavily investing in research and development to introduce energy-efficient outdoor LED lighting solutions with enhanced features such as smart controls and connectivity options. Strategic partnerships, particularly with technology providers and infrastructure developers, have become increasingly common to strengthen market presence. Operational expansion through new manufacturing facilities and distribution networks remains a key focus area. Companies are also emphasizing sustainable practices and environmental compliance in their product development processes, while simultaneously working on cost optimization to maintain competitive pricing. The industry has witnessed a strong focus on customized outdoor lighting solutions for specific applications like sports facilities, roadways, and public spaces, with players developing specialized product portfolios to cater to these segments.
Consolidated Market Led By Global Players
The US outdoor LED lighting market demonstrates a fairly consolidated structure dominated by established global lighting conglomerates. Major players like Acuity Brands, Signify Holding, and Panasonic Holdings Corporation command significant market share through their extensive product portfolios and strong distribution networks. These companies leverage their global presence and technological expertise to maintain market leadership, while regional players focus on niche segments and local market knowledge to maintain their position.
The market exhibits high barriers to entry due to substantial technological requirements and established brand preferences. While mergers and acquisitions activity has been moderate, strategic partnerships and collaborations have been more prevalent, particularly in developing smart outdoor lighting solutions and expanding application areas. Local manufacturers often collaborate with larger players for technology access and market reach, while global players seek regional partnerships to strengthen their distribution networks and customer base.
Innovation and Sustainability Drive Future Success
Success in the market increasingly depends on companies' ability to innovate while maintaining cost competitiveness. Incumbents need to focus on developing integrated lighting solutions that incorporate smart features and energy management capabilities, while also expanding their service offerings to include maintenance and consulting. Companies must invest in building strong relationships with government agencies and construction companies, given the significant role of public infrastructure projects in market growth. Additionally, establishing robust supply chains and local manufacturing capabilities can help maintain competitive pricing and ensure reliable product availability.
For contenders looking to gain market share, focusing on specific application niches and developing specialized solutions offers a viable strategy. Companies need to emphasize energy efficiency and sustainability in their product development, as environmental regulations continue to influence market dynamics. Building strong after-sales service networks and offering comprehensive support solutions can help differentiate offerings in a competitive market. The increasing adoption of smart city initiatives and infrastructure modernization projects presents opportunities for both established players and new entrants to expand their market presence through innovative solutions and strategic partnerships. The integration of exterior smart lighting and outdoor lighting control technologies is pivotal in these advancements.
US Outdoor LED Lighting Market Leaders
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ACUITY BRANDS, INC.
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Current Lighting Solutions, LLC.
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Dialight PLC
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Panasonic Holdings Corporation
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Signify Holding (Philips)
- *Disclaimer: Major Players sorted in no particular order
US Outdoor LED Lighting Market News
- May 2023: Cyclone Lighting, a well-known manufacturer of outdoor luminaires, has announced the debut of its Elencia luminaire. Outdoor post-top lighting has an upscale look thanks to high-performance optics and revised, modern lantern style.
- May 2023: Dialight, a company in hazardous and industrial LED lighting innovation, has introduced the ProSite High Mast, an expansion of the company's extremely successful ProSite Floodlight range. This new model is carefully constructed to withstand mounting heights of up to 130 feet for a wide range of outdoor industrial applications such as airports, container yards, rail yards, product stockpiles, transportation, perimeter lighting, and parking applications. With a total lumen output of up to 65,000, the ProSite High Mast improves site security by providing uniform, crisp, and clear illumination.
- April 2023: Hydrel, an established innovator and producer of outdoor architectural and landscape lighting systems, announced the addition of the M9700 RGBW fixture to its M9000 ingrade luminaire family.
Free With This Report
We provide a complimentary and exhaustive set of data points on the country and regional level metrics that present the fundamental structure of the industry. Presented in the form of 40+ free charts, the sections cover difficult to find data on various countries on Automotive Production, Lighting Electricity Consumption, Road Network, Number of Stadiums, Number of Charging Stations among others.
List of Tables & Figures
- Figure 1:
- HUMAN POPULATION IN MILLION, NUMBERS, UNITED STATES, 2017 - 2030
- Figure 2:
- PER CAPITA INCOME, USD, UNITED STATES, 2017 - 2030
- Figure 3:
- VALUE OF LED IMPORTS, USD MILLION, UNITED STATES, 2017 - 2030
- Figure 4:
- CONSUMPTION OF ELECTRICITY FOR LIGHTING, TWH, UNITED STATES, 2017 - 2030
- Figure 5:
- COUNT OF HOUSEHOLDS, MILLION, UNITED STATES, 2017 - 2030
- Figure 6:
- LED PENETRATION, %, UNITED STATES, 2017 - 2030
- Figure 7:
- COUNT OF STADIUMS, NUMBER, UNITED STATES, 2017 - 2030
- Figure 8:
- VOLUME SALES OF US OUTDOOR LED LIGHTING MARKET, NUMBER, UNITED STATES, 2017 - 2030
- Figure 9:
- VALUE SALES OF US OUTDOOR LED LIGHTING MARKET, USD, UNITED STATES, 2017 - 2030
- Figure 10:
- VOLUME SALES OF LED FIXTURES BY OUTDOOR LIGHTING, NUMBER, UNITED STATES, 2017 - 2030
- Figure 11:
- VALUE SALES OF LED FIXTURES BY OUTDOOR LIGHTING, USD, UNITED STATES, 2017 - 2030
- Figure 12:
- VALUE SHARE OF LED FIXTURES BY OUTDOOR LIGHTING, %, UNITED STATES, 2017 - 2030
- Figure 13:
- VOLUME SHARE OF LED FIXTURES BY OUTDOOR LIGHTING, %, UNITED STATES, 2017 - 2030
- Figure 14:
- VOLUME SALES OF LED FIXTURES IN PUBLIC PLACES, NUMBER, UNITED STATES, 2017 - 2030
- Figure 15:
- VALUE SALES OF LED FIXTURES IN PUBLIC PLACES, USD, UNITED STATES, 2017 - 2030
- Figure 16:
- VOLUME SALES OF LED FIXTURES IN STREETS AND ROADWAYS, NUMBER, UNITED STATES, 2017 - 2030
- Figure 17:
- VALUE SALES OF LED FIXTURES IN STREETS AND ROADWAYS, USD, UNITED STATES, 2017 - 2030
- Figure 18:
- VOLUME SALES OF LED FIXTURES IN OTHERS, NUMBER, UNITED STATES, 2017 - 2030
- Figure 19:
- VALUE SALES OF LED FIXTURES IN OTHERS, USD, UNITED STATES, 2017 - 2030
- Figure 20:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, UNITED STATES, 2017 - 2030
- Figure 21:
- MOST ADOPTED STRATEGIES, COUNT, UNITED STATES, 2017 - 2030
- Figure 22:
- VALUE SHARE OF MAJOR PLAYERS, %, UNITED STATES
US Outdoor LED Lighting Industry Segmentation
Public Places, Streets and Roadways, Others are covered as segments by Outdoor Lighting.| Outdoor Lighting | Public Places |
| Streets and Roadways | |
| Others |
| Public Places |
| Streets and Roadways |
| Others |
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
