Tunnel lighting has come a long way over the years as a long-lasting, energy-efficient and high-performance light. As visibility is one of the most important features required in tunnels, LED lighting has made a name for itself in this industry.
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Innovations in products such as daylight and weather adaptive lighting are expected to boost the demand for tunnel lighting as it increases driver safety and is cost-effective. These technologically advanced LED lights help drivers adapt and adapt effectively to different road conditions. In addition to this, it has the ability to resist corrosion, providing an energy efficiency of over 70%. Due to these characteristics, LED lighting is expected to be one of the key drivers for the growth of the global tunnel lighting market.
Fact.MR predicts that the global tunnel lighting market will exceed $3 billion by 2030.
Highlights of Tunnel Lighting Market Study
- Europe is the most lucrative market for tunnel lighting. This dominance is expected to continue over the forecast period. Asia Pacific is expected to witness the highest growth during the forecast period 2020-2030.
- Linear shaped tunnel lights are expected to hold the majority of the market over the next decade when segmented by shape.
- Surface mounted tunnel lighting is expected to be a major segment when segmented by installation, followed by wall mounted lighting.
- The global tunnel lighting market experienced slow growth during the early stages of the COVID-19 pandemic, but is now expected to develop at a normal pace over the coming months and years.
Tunnel Lighting Market: Competitive Landscape
The global tunnel lighting market is highly competitive by nature. It is competitive due to the presence of several international and local players. Key market players are focusing on exploring new opportunities by expanding their geographic locations. To achieve this, players are looking for collaboration and partnership. Additionally, companies are looking for new applications for tunnel lighting to maintain a competitive edge in the market.
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Key players operating in the global tunnel lighting market include:
- Sight Lighting Brands, Inc.
- Ion Lighting Technology Inc.
- Cree Inc.
- general electric company
- Kenal Manufacturing
- Royal Philips NV
- Zumtobel Group AG
- NINGBO GOLDEN CLASSIC LIGHTING CO., LTD.
- shredder
- Thorlux lighting
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