Transportation Lighting Market to Cross Valuation of US$ 13 Bn by 2031

Transportation Lighting Market: Introduction

Transparency Market Research delivers key insights on the global transportation lighting market. In terms of revenue, the global transportation lighting market is estimated to expand at a CAGR of 3.6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global transportation lighting market.

Companies are expanding their range of transportation lighting by adding different technologies. Manufacturers are increasing their partnerships with different international and local distributors to have a better reach in every region.

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Transportation Lighting Market: Key Segments

In terms of lighting technology, LED lighting is majorly used for transportation lighting. Cost effectiveness and energy efficiency offered by LEDs coupled with significant innovation have substantial impact on the growth of LEDs across the globe, which is likely to further help in the growth of the transportation lighting market.

Based on installation, new installation holds a major share of the transportation lighting market due to increase in construction and developments projects. However, retrofitting is also taking over the transportation lighting market owing to upgrade of old systems.

In terms of application, expanding roadways infrastructure and railway infrastructure for better connectivity across the globe have fueled the demand for transportation lighting.

In terms of end-use, road and area end-use segments are expected to grow due to investment in roadways projects and renovation of existing infrastructure.

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Transportation Lighting Market: Prominent Regions

The global market for transportation lighting has been divided into North America (U.S., Canada, and Rest of North America), Europe (Austria, Balkan, Belgium, France, Germany, Hungary, Italy, Netherlands, Nordics, Poland, Portugal, Spain, Switzerland, U.K., and Rest of Europe), Asia Pacific & Middle East & Africa (Australia, South Africa, and Rest of Asia Pacific), and Rest of the World. The global transportation lighting market is dominated by Asia Pacific & Middle East & Africa.

Development of smart cities, growing population, and rising investments in infrastructure development are expected to contribute to the regional growth of transportation lighting.

The in the transportation lighting market in Asia Pacific & Middle East & Africa is expected to witness significant growth during the forecast period due to investment in several new transportation infrastructure projects and upgrading of lighting systems in Australia, China, India, and the Middle East.

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Transportation Lighting Market: Key Players

Key players operating in the global transportation lighting market are ABB, AGC Lighting, Cree Lighting, Eaton, Intertek Group plc, Kenall Manufacturing, LEDiL, Signify Holding B.V., Transportation Solutions and Lighting, Inc., WSP USA, etc.

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Tags: Transportation Lighting Market, Roadway Lighting market