High Demand for Energy-efficiency and Sustainable Mobility to Boost Market Growth
Amidst environmental concerns, the tunnel lighting market is witnessing a tectonic shift toward energy-efficiency and sustainability. Tunnel lighting manufacturers are increasingly focused on rolling out energy-efficient products that adhere to stringent guidelines pertaining to the use of tunnel lighting in different regions. As government bodies across the world continue to invest resources to improve transport infrastructure, the number of tunnel construction projects has increased at a rapid pace due to which, the demand for tunnel lighting is on the rise. The mounting concerns over transportation safety and focus on sustainable urban mobility are expected to accelerate the demand for tunnel lighting systems during the forecast period.
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Soaring consumer demand for energy-efficient, durable, and low-emission lighting systems is likely to influence the growth of the tunnel lighting market in the coming years. The rise in the number of tunnel accidents across the world coupled with technological advancements is likely to aid the adoption of advanced tunnel lighting systems during the assessment period. Moreover, data collection techniques have evolved due to strides taken by sensor technology and the development of cutting-edge cameras. At the back of these factors, the global tunnel lighting market is expected to reach a value of ~US$ 3 Bn by the end of 2027.
High Demand for Energy-efficient LED Lights to Augment Market
As sustainable transportation continues to gain noteworthy momentum worldwide, the adoption of energy-efficient tunnel lighting systems is on the rise. Several companies operating in the current market landscape are leveraging the benefits of new technologies to develop improved lighting systems with enhanced designs. Adaptive lighting and steady rise in the adoption of energy-efficient LED lighting and control systems in new tunnel projects worldwide are expected to play a key role in boosting the growth of the market for tunnel lighting during the forecast period. In addition, innovations such as daylight and weather adaptive lighting are projected to improve the safety of transportation systems in a cost-effective manner due to which, the high demand for tunnel lighting systems is expected. The current generation of LED lights play an important role in assisting drivers to adjust and adapt to the road efficiently, have the ability to withstand corrosive environments, and offer over 75% power efficiency– factors that have played a critical role in increasing the demand for LED tunnel lights in recent times. Within the tunnel lighting market, LED lightings are expected to remain the most preferred lighting alternative throughout the entirety of the forecast period.
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Market players are anticipated to leverage the surge in interest for LED lights in modern tunnel systems. Several new tunnels LED tunnel lighting systems have exhibited exceptional lighting quality, which has played a key role in minimizing tunnel accidents. Solid-state-lighting (SSL) is expected to gain pace over the coming years, as more municipalities across the world are favoring the incorporation of LED lighting systems in tunnels. In addition, as SSL technologies continue to evolve, the quality of LED lighting systems has also improved at a consistent pace– a major factor that is expected to propel the demand during the assessment period.
Rise in Tunnel Construction Projects Worldwide to Drive Market
The number of tunnel construction projects across the world has witnessed a considerable surge in recent years, owing to a focus on improving transportation infrastructure. Several nations across the developing region of the Asia Pacific, including China and India have sanctioned the construction of new tunnels due to which, the demand for tunnel lighting systems is expected to witness consistent growth. While construction of new tunnels is likely to pick pace, municipality bodies across the world are also focusing on replacing the conventional legacy lights with LED tunnel lights to maximize safety, reduce energy consumption, and promote sustainable mobility.
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Apart from rise in the number of road tunnel construction projects, a surge in the number of rail tunnel construction projects is expected in the upcoming years.
COVID-19 Pandemic Likely to Delay Construction Projects
The unforeseen arrival of the COVID-19 virus has stalled operations across major industries worldwide. The impact of the pandemic is likely to have a strong impact on the construction sector particularly in the developing regions, including India and China. Construction projects are expected to stall or progress at a slow pace due to a lack of personnel and safety measures imposed by government bodies to combat the pandemic. While construction projects are set to miss the deadline, market players in the tunnel lighting market are expected to seek opportunities by exploring the potential use of their products in other industrial domains, including healthcare. Product innovation and value addition will remain key factors for companies in the current market landscape.
Analysts’ Viewpoint
The global tunnel lighting market is expected to grow at a moderate CAGR of ~5% during the forecast period. The market growth can be primarily attributed to a host of factors, including rise in the number of tunnel construction projects, focus on improving transportation infrastructure, and a paradigm shift toward LED lights over legacy lighting systems. Market players should focus on formulating impactful and captivating digital marketing strategies to improve brand visibility and also focus on product innovation to gain an edge.
Tunnel Lighting Market: Overview
- Tunnel lighting allows traffic to enter and exit an enclosed section safely. The aim of tunnel lighting is to illuminate the tunnel interior and to enable drivers to quickly adjust to the light within without any obstacle and speed reduction.
- Exponential growth in population has resulted in increased road management, resulting in re-construction and new construction of several road tunnels and underpasses, which in turn have significantly contributed to the overall growth of the tunnel lighting market
- The tunnel lighting market is expected to grow during the forecast period due to rising investments in global transport infrastructure and increasing government investment in infrastructure
Tunnel Lighting Market: Regional Overview
- Europe is likely to be the most attractive region in the tunnel lighting market during the forecast period due to increasing investment by governments in adoption of energy efficient lighting solutions
- As per GLA (Global Lighting Association), by 2020, LED lighting in Europe is anticipated to account for more than 90% of the entire luminaire market. This estimation also encompasses LEDs in retail business as well.
- Asia Pacific and North America are expected to be other major markets for tunnel lighting. Asia Pacific has the highest growth rate of LEDs in the tunnel lighting market, which is extensively influenced by the adoption of LED lighting across the region.
- The tunnel lighting market in Middle East & Africa and South America is expected to witness slow growth during the forecast period
Tunnel Lighting Market: Market Trends
- Demand for tunnel lighting systems is projected to grow owing to increase in tunnel construction activities and efforts to upgrade the existing tunnel lights. Many manufacturers continuously undertake technological upgrades for better functionality of their products. Demand for new LED designs and features is constantly increasing in the market.
- Political situations between nations has a significant impact on businesses around the world. Several manufacturers are looking for stable trade and regulatory environments between nations to conduct business.
- The presence of many manufacturers leads to huge investment in R&D and production equipment to remain competitive in the market. The aging infrastructure in many countries is expected to increase the demand for tunnel lights during the forecast period.
Tunnel Lighting Market: Drivers, Opportunities, and Restraints
- Rise in population has led to the growth of the transport infrastructure. Mass transit systems, as well as other ancillary infrastructure are required to support growth and ease traffic congestion. Lighting installations in tunnels provide safety and ensure a comfortable commute.
- Governments around the world have agreed to take action to reduce carbon emission and have restricted the usage of incandescent lights. Consumers are looking for environment friendly, long lasting, better quality, and easy to control & maintain lighting systems.
- High cost required during the initial deployment phase of tunnel lighting is likely to have an adverse impact on the overall tunnel lighting market. In addition to installation, these lighting systems also require power supplies and circuitry, which significantly adds up to the cost.
- Development of transport infrastructure is projected to be crucial during the forecast period as it helps in evolution of various economies around the world. Governments around the world have increased spending on infrastructure development due to increasing urbanization and to cater to the needs of a growing population.
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Tunnel Lighting Market: Key Market Segments
- The global tunnel lighting market has been segmented based on type, shape, installation, application, and region
- In terms of type, the global tunnel lighting market has been segmented into LED lighting, electrodeless lighting, incandescent lighting, fluorescent lighting, and others
- Based on shape, the global tunnel lighting market has been classified into linear, round, square, rectangle, and others
- In terms of installation, the global tunnel lighting market has been segmented into surface mounted, hanging, and recessed/side wall mounted
- In terms of application, the global tunnel lighting market has been segmented into roadway tunnel, railway tunnel, mining tunnel, public work tunnel, and others
- Based on region, the global tunnel lighting market has been classified into: North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, and Rest of Europe), Asia Pacific (China, India, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa, and Rest of MEA), and South America (Brazil and Rest of South America)
Tunnel Lighting Market: Competition Landscape
- Established manufacturers operating in the global tunnel lighting market are facing immense competition, owing to presence of many global and regional manufactures. Key players operating in the global tunnel lighting market include
- Acuity Brands Lighting, Inc.
- Aeon Lighting Technology Inc.
- Cree Inc.
- General Electric Company
- Kenall Manufacturing
- Koninklijke Philips N.V.
- Zumtobel Group AG
- NINGBO GOLDEN CLASSIC LIGHTING CO.,LTD.
- Schréder,
- Thorlux Lighting.
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