Tunnel Lighting Market: About the Report
Tunnel lights have come a long way over the years, with energy-efficient, high performance lighting that lasts long. LED lights have made their mark in this industry, as visibility is one of the most important features needed in tunnels. Fact.MR’s report goes further and explains how advancements in data collecting techniques such as using sensors and state-of-the-art cameras have opened up many opportunities for various stakeholders in the tunnel lighting market. Market players will be looking to Europe, which is the largest market for tunnels lights, and also to the Asia Pacific region, which is expected to boom over the next ten years.
Tunnel Lighting Market Overview
Tunnel lighting has a wide range of advantages such as improving road conditions in a tunnel, reducing driver fatigue, improving tunnel capacity in order to ensure traffic safety, and improving visual enjoyment in a tunnel, among others. Tunnel lighting allows safe entrance and exit of traffic, illuminating the tunnel interior in a way that enables drivers to adjust quickly to the light. This helps in avoiding any mishap and maintaining the drive through the enclosed area without obstacles and the need to reduce speed.
The global tunnel lighting market is expected to exhibit a growth rate hovering around 5% over the forecast period of 2020-2030, according to a recent report published by Fact.MR. The market is projected to reach a valuation of nearly US$ 3 Bn by the end of 2030, says Fact.MR.
Rising population, increased investments in infrastructure by governments and rise in global transport are expected to drive the global tunnel lighting market in the next decade. Moreover, increasing focus on road construction, reconstruction, and redevelopment of major road projects is expected to contribute significantly to the expansion of the tunnel lighting market size over the coming years.
Increasing Tunnel Construction Projects to Fuel Demand
Rising population is forcing nations to invest more in transportation infrastructure. Owing to this, the number of tunnel construction projects are on the rise, globally. This surge in construction of tunnels is fueling demand for tunnel lighting, which is expected to remain consistent in the near future.
Countries in the Asia Pacific region are investing more in infrastructure as part of their development strategies. This is expected to pick pace in the future. Countries such as India and China are leading the market in the region, as they are accelerating infrastructural development in both, road and rail transportation. These factors are expected to boost the tunnel lighting market in the next decade.
Energy-efficient Products to Propel Market Growth
Growing demand for energy efficiency and sustainability owing to environmental concerns is projected to propel market growth in the near future. Stringent guidelines vary across geographical regions in the tunnel lighting market, which has made manufacturers focus on rolling out energy-efficient products. Countries across the world are focusing on improving transportation infrastructure, due to which, the tunnel lighting industry is moving aggressively in the forward direction.
Advancements in data collecting techniques such as using sensors and cutting-edge cameras are expected to enhance efficiency further. These low emission lighting systems have a definite role in the growth of the tunnel lighting market.
Regional Outlook of Tunnel Lighting Market
Europe, North America, and Asia pacific are key regions contributing most to the growth of the global tunnel lighting market. Europe is projected to emerge as the most lucrative market for tunnel lighting over the forecast period. Rising government initiatives and support along with investments towards the adoption of energy-efficient lighting solutions are key driving factors for the growth of the market in the region. LED lighting in Europe is anticipated to account for more than 90% of the entire luminaire market, as per the Global lighting Association in 2020. North America is another major market for tunnel lighting. This regional market is expected to experience prominent growth over the forecast period as well. Meanwhile, Asia Pacific is projected to witness the highest growth during the forecast period. The region is expected to experience the highest growth rate of LEDs in the tunnel lighting market by the end of 2030. However, the Middle East and Africa and South America are expected to witness slow growth in the next decade.
Tunnel Lighting Market Insights by Shape
Tunnel lighting is segmented based on shape as linear, round, square, rectangular, and others. Linear-shaped lighting is the most lucrative segment among all the shapes, followed by rectangular lighting. This dominance is expected to continue over the forecast period as well.
Tunnel Lighting Market Insights by Installation
Segmentation based on installation is done as surface mounted, hanging, and recessed/side wall mounted. Out of these types, surface mounted tunnel lighting is expected to be the most lucrative segment over the forecast period.
Tunnel Lighting Market: Competitive Landscape
Presence of several international as well as regional players makes the global tunnel lighting market highly competitive. Key players in the market are focusing on collaborations and partnerships to expand their reach across the world. Furthermore, companies are investing in research & development to find new applications of tunnel lighting in order to stay ahead of the competition in the market.
For instance, CCS Inc., in partnership with Yokohama-based lighting manufacturer AITEC SYSTEM Co., Ltd. (AItec), has launched CCSAItec, a new brand of line lights that combine CCS’s extensive lighting knowledge and AItec’s expertise in line scan illumination. This comes in the wake of the industry's rapidly growing need for high-performance lighting for longer duration.
The Analyst’s Quote
“The global tunnel lighting market is expected to witness moderate growth in the next decade. Companies need to focus on innovative products and their applications in order to sustain in this competitive market. Growing focus on energy-efficient products is predicted to be the key driver for the tunnel lighting market.”
COVID 19 Impact on Tunnel Lighting Market
The actual impact of the COVID-19 pandemic over the tunnel lighting industry was overrated initially, and a while later, the industry was in a dilemma as global shutdown of commercial establishments began. As this industry mostly deals in megaprojects, the long-term impact will be minimal. Thus, the industry came to terms with the situation presented by the pandemic in a short period. Currently, this industry is performing at the same pace as it was before the onset of the pandemic. However, the workforce in the industry had a definite impact for a short period of time, as production was halted due to social distancing norms. As of now, the tunnel lighting market has gathered momentum and is moving forward steadily, as governments are refocusing on mega infrastructure plans and investments. Furthermore, the industry has utilized this period to plug loopholes and enforce a concrete future plan.
Tunnel Lighting Market - Scope of the Report
A recent study by Fact.MR on the tunnel lighting market offers a 10-year forecast from 2020 to 2030. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of tunnel lighting. The study also provides the dynamics that are responsible for influencing the future status of the tunnel lighting market over the forecast period.
Detailed assessment of the tunnel lighting value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the tunnel lighting market, along with their product portfolios, enhances the reliability of this comprehensive research study.
Tunnel Lighting Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the tunnel lighting market across the globe.
A comprehensive estimate on the tunnel lighting market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Tunnel Lighting Market: Segmentation
Fact.MR’s research study assesses the global tunnel lighting market in terms of type, shape, installation, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market, and their influence on the growth prospects of the global tunnel lighting market.
Key Questions Answered in Fact.MR’s Tunnel Lighting Market Report
- Which regions will continue to remain the most profitable regional markets for tunnel lighting market players?
- Which factors will induce a change in the demand for tunnel lighting during the assessment period?
- How will changing trends impact the tunnel lighting market?
- How can market players capture the low-hanging opportunities in the tunnel lighting market in developed regions?
- Which companies are leading the tunnel lighting market?
- What are the winning strategies of stakeholders in the tunnel lighting market to upscale their position in this landscape?
Tunnel Lighting Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the tunnel lighting market report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the tunnel lighting market during the forecast period.
Country-specific valuation on demand for tunnel lighting has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, y-o-y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Tunnel Lighting Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the tunnel lighting market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the tunnel lighting market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the tunnel lighting market report as a primary resource.
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