Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.48 Billion | USD 4.32 Billion | 5.7% | 2023 |
According to the report published by Zion Market Research, the global Tunnel Lighting Market size was valued at USD 2.48 Billion in 2023 and is predicted to reach USD 4.32 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.7% during the forecast period. The report analyzes the global Tunnel Lighting Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Tunnel Lighting industry.
Tunnel lighting is essential to ensure the safety of the traffic. The primary objective is to illuminate the objects and balance the adaptability of the outside & inside luminance for the vehicles that enter or exit the tunnel. In the tunnels, the natural penetration of the light hardly provides satisfactory visibility to the vehicles and thus tunnel lighting is important to install to enhance visibility and comfort.
The global tunnel lighting market is growing substantially. Factors such as a rise in several tunnel construction, growing concerns of traffic safety, and an increase in demand for energy-efficient lights are driving the growth of the global tunnel lighting market. There is a huge demand for LED tunnel lights due to their several advantages. LED tunnel lights make use of a low-voltage power supply and hence there is low power consumption. They are small in size, saves energy, have a long lifespan, have high brightness, strong applicability, short response time, and high stability. In addition to this, the LED tunnel lights are environment friendly as they are made up of non-toxic materials and can be recycled. All these factors are contributing to the growth of the global market.
Moreover, government investments to improve tunnel lighting, the growing need to lower the rate of accidents in tunnels, and the growing demand for tunnel lighting from the mining & railway tunnels are also some of the factors that are propelling the growth of the market. Furthermore, heavy investment to carry out research and development activities for the production of enhanced lights to sustain in the competitive market may lead to beneficial opportunities for the growth of the global tunnel lighting market during the forecast period. However, the high cost required for the initial deployment of the tunnel lights coupled with circuitry cost may hamper the growth of the global tunnel lighting market.
The Covid-19 pandemic has adversely affected the growth of the global tunnel lighting market. Most of the governments of several cities imposed complete lockdown and restrictions on movement. This affected the construction business and thus halt in new tunnel constructions & reconstruction of the tunnels was been witnessed. The disruption in the supply chain and restriction on personnel movement are also the factors hampering the production of the tunnel lights. The demand from mining tunnels also declined during the pandemic. However, with the uplifting of the restrictions the global tunnel lighting market may experience a slow growth rate.
The global tunnel lighting market is fragmented based on type, shape, installation, application, and region.
Based on the type, the global tunnel lighting market is bifurcated into fluorescent lighting, incandescent lighting, electrodeless lighting, LED lighting, and others.
Based on the shape, the global market is split into rectangular, square, round, linear, and others.
Based on the installation, the global market is classified into recessed/side wall mounted, hanging, and surface mounted.
The application segment is divided into mining tunnels, roadway tunnels, public work tunnels, railway tunnels, and others.
Report Attributes | Report Details |
---|---|
Report Name | Tunnel Lighting Market |
Market Size in 2023 | USD 2.48 Billion |
Market Forecast in 2032 | USD 4.32 Billion |
Growth Rate | CAGR of 5.7% |
Number of Pages | 193 |
Key Companies Covered | Thorlux Lighting, Zumtobel Group AG, General Electric Company, Acuity Brands Lighting, Inc., Schréder, Koninklijke Philips N.V., Cree Inc., NINGBO GOLDEN CLASSIC LIGHTING CO., LTD., Kenall Manufacturing, and Aeon Lighting Technology Inc |
Segments Covered | By Type, By Shape, By Installation, By Application And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Among the regions, Europe is anticipated to hold the largest share in the global tunnel lighting market over the forecast period. An increase in government investment to enhance the visibility in the tunnel, growing demand for tunnel lighting from the railway sector, and rise in demand for LED light for tunnels are the key features that are spurring the growth of the market in this region. Asia Pacific is predicted to be the fastest growing region. This is due to the rise in adoption of LED lights owing to growing concerns of carbon footprints & energy conservation, increase in demand from mining tunnels, and to lower the rate of accidents, especially on highways. North America is also expected to account for a significant share of the overall market growth.
The global tunnel lighting market is highly competitive due to its growing demand.
are some of the key participants operating in the global tunnel lighting market.
The Global Tunnel Lighting Market is segmented as follows:
By type
By shape
By installation
By application
What Reports Provides
FrequentlyAsked Questions
The global tunnel lighting market is growing substantially. Factors such as a rise in several tunnel construction, growing concerns of traffic safety, and an increase in demand for energy-efficient lights are driving the growth of the global tunnel lighting market. Furthermore, heavy investment to carry out research and development activities for the production of enhanced lights to sustain in the competitive market may lead to beneficial opportunities for the growth of the global tunnel lighting market during the forecast period.
The global tunnel lighting market is highly competitive due to its growing demand. Thorlux Lighting, Zumtobel Group AG, General Electric Company, Acuity Brands Lighting, Inc., Schréder, Koninklijke Philips N.V., Cree Inc., NINGBO GOLDEN CLASSIC LIGHTING CO., LTD., Kenall Manufacturing, and Aeon Lighting Technology Inc. are some of the key participants operating in the global tunnel lighting market.
Among the regions, Europe is anticipated to hold the largest share in the global tunnel lighting market over the forecast period. An increase in government investment to enhance the visibility in the tunnel, growing demand for tunnel lighting from the railway sector, and rise in demand for LED light for tunnels are the key features that are spurring the growth of the market in this region.
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