Rockville, June 26, 2023 (GLOBE NEWSWIRE) -- According to the detailed report by Fact.MR, as of 2023, the global tunnel lighting market stands at US$ 2.38 billion. Use of tunnel lighting systems across the world is predicted to reach a market value of US$ 4 billion by the end of 2033.
There are several benefits to tunnel lighting, including improving the tunnel's road conditions, lessening driver fatigue, increasing tunnel capacity to assure traffic safety, and enhancing the tunnel's aesthetic appeal. By illuminating the tunnel interior in a way that enables drivers to quickly become used to the light, tunnel lighting facilitates the safe entry and exit of vehicles. This aids in preventing accidents and maintaining smooth driving inside a confined space without the need to slow down.
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The market for tunnel lighting is projected to expand over the coming years due to rising customer demand for long-lasting, low-emission lighting systems. The use of cutting-edge tunnel lighting systems is due to a rise in tunnel accidents around the globe as well as technological innovations.
The capacity of tunnel lighting systems to assist drivers' visual perceptions from the point of entry through the point of exit during both day and night represents one of their greatest challenges. For a tunnel lighting system to be effective, the structure must have consistent light levels throughout. Additionally, in severe corrosive situations, tunnel lighting systems demand sealed and robust luminaires.
Key Takeaways from Market Study
- The global tunnel lighting market is valued at US$ 2.38 billion in 2023.
- Worldwide sales of tunnel lighting systems are predicted to increase at a CAGR of 5.4% from 2023 to 2033.
- Global tunnel lighting demand is set to reach a value of US$ 4 billion by 2033.
- Use of LED lighting is set to rise at a CAGR of 6.1% over the next ten years.
- The market in the United States is estimated to reach US$ 776.8 million by the end of 2033.
- The market in China is predicted to rise at 6% CAGR through 2033.
“Tunnel fittings are continuously exposed to water, mud, road salt, exhaust fumes, brake dust, and other corrosive substances as a result of intense traffic and climatic and meteorological changes. Consequently, the creation of lighting fixtures tailored to various tunnel sites' environmental circumstances can open up new growth prospects for market participants,” says a Fact.MR analyst
Winning Strategy
Energy-efficient tunnel lighting systems are increasingly being used as sustainable transportation continues to gain traction on a significant scale around the world. Utilizing the advantages of new technology, many industry players are creating better lighting systems with improved designs.
For instance,
- In 2020, the Tungsram Group agreed to install lighting at the Tnel de Tresponts in Catalunya, Spain.
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Competitive Landscape
Key players in the market are focusing on new developments, quality control, collaborations, and partnerships to expand their reach across the world. Leading companies are investing in research & development to find new applications of tunnel lighting to stay ahead of the competition in the market.
For instance:
- In 2020, the Wisconsin-based Racine manufacturing facility's expansion was announced by Cree Lighting.
Key Companies Profiled
- Acuity Brands, Inc.
- Kenall Manufacturing
- Schréder
- Thorlux Lighting
- Tungsram
- Aeon Lighting Technology Inc.
- Signify Holding B.V.
- Cree Lighting
- Siteco GmbH
- GE Lighting
- Carandini
- Eastar Lighting
Key Segments of Tunnel Lighting Industry Research
- By Type:
- LED Lighting
- Electrodeless Lighting
- Incandescent Lighting
- Fluorescent Lighting
- Others
- By Shape:
- Linear
- Round
- Square
- Rectangular
- Others
- By Installation:
- Surface-mounted
- Hanging
- Recessed/Side Wall-mounted
- By Application:
- Roadway Tunnels
- Railway Tunnels
- Mining Tunnels
- Public Work Tunnels
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global tunnel lighting market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based type (LED lighting, electrodeless lighting, incandescent lighting, fluorescent lighting, others), shape (linear, round, square, rectangular, others), installation (surface-mounted, hanging, recessed/side wall-mounted), and application (roadway tunnels, railway tunnels, mining tunnels, public work tunnels, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
What moderations in the tunnel illumination report will effect of revenue and business strategies?
Fact.MR makes an effort to offer thorough evaluations of prospects across a range of geographies and technological fields. Additionally, the study provides clear, data-driven insights on the growth potential of the Tunnel Lighting industry and all of its categories. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Strategies adopted by top players to retain their stronghold in the market
- Strategic moves new entrants adopts to gain a strong foothold in the market
- Attractiveness quotient of emerging product/technology types in various products in the Tunnel lighting.
- Micro-economics factors that may hamper the prospects of some of the key segments.
- Recent spate of research and development (R&D) funding on key Tunnel lighting.
- New business models paving way for disruptions in demand dynamic of key segments.
- Regional markets that will be future engine of growth and the industry trends that will support these markets.
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