This report by Train Exterior Lighting Market covers the overall market for exterior lighting and the estimated revenue, price, growth rate of the industry. The US exterior lighting market is forecast to grow at a CAGR of 10.1% from 2018 to 2028. This report analyzes the train exterior lighting market revenue, price, growth rate, and forecast for the period of April 2018-2028.
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In this market the presence of a high number of players is expected with their increasing market share. Major players in the exterior lighting include Philips Lighting, Edilux, Schonbek, Osram, Lightsource and Lumileds. The Train exterior lighting market revenue, price, growth rate and forecast to 2028.
What is the Train Exterior Lighting Market?
The exterior lighting market is expected to grow by 10.8% over the next five years, with a projected revenue of $13.9 billion in 2028. This market has been growing at an accelerated rate since 2009 and is driven primarily by demand for residential, commercial, and architectural lighting systems such as floodlights, streetlamps, lighting for parking lots and streets, and light emitting diodes (LED) technology.
Industry Growth Analysis
The global exterior lighting market revenue is expected to reach $4.4 billion by 2028 with a CAGR of 8.6%. The North American region is the main market for this industry owing to the high penetration rate in North America and Europe. The increasing demand for exterior lights for residential, commercial, government, and industrial purposes will be one of the key drivers for this market over the forecast period. Moreover, challenges faced by electric vehicle companies due to their restricted range are likely to provide a major opportunity for this industry in future years.
Future Forecast of the Train Exterior Lighting
The global exterior lighting industry is worth around US$ 4.4 billion annually and is forecast to grow at a CAGR of 4%, with the global market revenue set to reach US$ 5.1 billion by 2028. The key factors driving the global exterior lighting market are wider use of LED technology and increasing demand for sustainable energy-efficient lighting solutions, contributing towards its growth.
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Top 5 Competition
The market for exterior lighting is expected to grow from US$ 101.5 billion in 2018 to US$ 122.2 billion by 2028, with a CAGR of 3.6% during the forecast period. Opportunities exist for increasing portfolio of products, like LED light, solar-powered lighting and automated lighting control system.
The exterior lighting industry has been experiencing tremendous growth in recent years. The market reached a value of $13.0 billion in 2017 and is expected to grow at a CAGR of 10.7% during the forecast period.