North America Tunnel Lighting Market
The US, Canada, and Mexico are the significant economies contributing to the tunnel lighting market. These systems ensure safety by employing various lighting solutions inside tunnels. The tunnel lighting consists of various type of lighting which are deployed inside the tunnels. The road and transportation construction industry in North America is growing significantly due to increase in state and local spending, as well as rise in federal funding for highways and railways. The region is highly inclined toward implementing various standards when it comes to transportation as paramount importance is given for passenger safety in the region. Growth in railway infrastructure is the major factor driving the growth of the North America tunnel lighting market.
North America is one of the leading regions in terms of the development and adoption of new technologies; this is mainly attributed to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industrial sector hampers the economic growth of the region. Presently, the US is the world’s worst-affected country due to COVID-19 outbreak. The tunnel lighting market’s reliance on manufacturing industry like construction companies and electronics component manufacturers has been highlighted by the recent pause in manufacturing units due to COVID. As a result, the number of tunnel construction projects worldwide is increasing. The increased number of tunnels being built is driving up demand for tunnel lighting, which is projected to continue in the foreseeable future. The overall demand for tunnel lighting is likely to increase once the industries attain normal operational conditions; these lighting is much needed because of the rise in safety regulations. Owing to the favorable government policies and ever-increasing investment by North American countries in infrastructure building, North America has a large demand for tunnel lights. Any impact on manufacturing sector is projected to have a negative influence on the region's economic developments.
Strategic insights for the North America Tunnel Lighting provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 488.71 Million |
| Market Size by 2028 | US$ 666.51 Million |
| Global CAGR (2021 - 2028) | 4.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Design
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Tunnel Lighting refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The tunnel lighting market in North America is expected to grow from US$ 488.71 million in 2021 to US$ 666.51 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028. Owing to increasing need for energy conservation and rising concerns over carbon emission, governments and corporates across the region are investing in technologies, which are energy efficient as well as effective. The lighting used in tunnel installation is majorly incandescent lighting, fluorescent lighting, or sodium lighting. These types of lights consume more energy. However, with the emergence of LED technology, tunnel lighting players are highly inclined toward the use of LEDs in their tunnel lighting products. The LED light can be developed in all kinds of shapes such as linear, square, round, and rectangular. Moreover, LEDs are the most energy efficient. In comparison with CFL light emits about 80% of its energy as heat, and incandescent light emits 90% of its energy as heat. LEDs are compact in size compared to incandescent lighting, fluorescent lighting, sodium lighting, and others. Owing to the aforementioned advantages of LEDs, use of LEDs for tunnel lighting is anticipated to increase during the forecast period.
The North America tunnel lighting market is segmented based on design, installation, type, application, and country. Based on design, the tunnel lighting market is sub-segmented into standard and customized. The standard segment dominated the market in 2020 and customized segment is expected to be the fastest growing during the forecast period. Based on installation, the tunnel lighting market is categorized into surface mounted, hanging, recessed/side wall mounted. The surface mounted dominated the market in 2020 and hanging segment is expected to be the fastest growing during the forecast period. Based on type, the market is segmented into LED lighting, incandescent lighting, fluorescent lighting, and others. The LED lighting segment dominated the market in 2020 and incandescent lighting segment is expected to be the fastest growing during the forecast period. Based on application, the market is segmented into mining tunnels, roadway tunnels, railway tunnels, and others. The mining tunnels segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period.
A few major primary and secondary sources referred to for preparing this report on the tunnel lighting market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ACUITY BRANDS, INC.; Aeon Lighting Technology Inc.; Cree Lighting; GE Lighting; Kenall Manufacturing; Signify Holding (Philips); Thorlux Lighting; and Tungsram are among others.
The North America Tunnel Lighting Market is valued at US$ 488.71 Million in 2021, it is projected to reach US$ 666.51 Million by 2028.
As per our report North America Tunnel Lighting Market, the market size is valued at US$ 488.71 Million in 2021, projecting it to reach US$ 666.51 Million by 2028. This translates to a CAGR of approximately 4.5% during the forecast period.
The North America Tunnel Lighting Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Tunnel Lighting Market report:
The North America Tunnel Lighting Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Tunnel Lighting Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Tunnel Lighting Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Tunnel Lighting Market
