Outdoor Landscape Lighting Market to Accelerate at a CAGR of almost 6% during 2021-2025 |Technavio
NEW YORK, March 24, 2021 /PRNewswire/ --
The new outdoor landscape lighting market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the growing demand for LED lighting for different applications," says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the outdoor landscape lighting market size to grow by USD 875.10 million during the period 2021-2025.
Outdoor Landscape Lighting Market Segment Highlights for 2020
- The outdoor landscape lighting market is expected to post a year-over-year growth rate of 4.80%.
- Based on the end-user, the commercial segment saw maximum growth in 2020. The expanding corporate spaces across the globe will continue to be the significant revenue contributor to this market segment during the forecast period.
- This market segment is expected to grow at a moderate rate compared with the residential market segment during the forecast period.
Regional Analysis
- 46% of the growth will originate from the APAC region.
- The rising disposable incomes are one of the prime factors that will facilitate the outdoor landscape lighting market growth in APAC.
- China and Japan are the key markets for outdoor landscape lighting in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Related Reports on Industrials Include:
Global Air Handling Unit Market- The air handling unit market is segmented by type (non-residential and residential), capacity (<5000m3 per hour, 5000-15000 m3 per hour, and <15000m3 per hour), geography (APAC, North America, Europe, MEA, and South America), and key vendors.
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Residential Portable Generator Market in the US- The residential portable generator market size in the US is segmented by product (3kW-10kW, 10kW-15kW, and below 3kW) and type (gasoline, gas, and diesel).
Notes:
- The outdoor landscape lighting market size is expected to accelerate at a CAGR of almost 6% during the forecast period.
- The outdoor landscape lighting market is segmented by end-user (Commercial and Residential), Type (Traditional and LED), Application (ATG and Underwater), and geography (APAC, Europe, North America, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Acuity Brands Inc., ALLIANCE Outdoor Lighting, Cree Inc., Eaton Corporation Plc, GE Current a Daintree Company, Halco Lighting Technologies LLC, Hubbell Inc., Kichler Lighting LLC, Signify NV, and Wipro Ltd.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Report Page: https://www.technavio.com/report/outdoor-landscape-lighting-market-industry-analysis
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