Key players in the tunnel lighting market are leveraging the demand for sustainable and energy efficient offerings to mitigate environmental concerns.
DUBAI, UAE / ACCESSWIRE / January 15, 2021 / The tunnel lighting market is projected to rise at a healthy 5% CAGR through the end of the assessment period in 2030. Continuing efforts by governments towards public transport infrastructure is a key factor driving demand in the market.
Disruptions in the supplies of raw material and restrictions on the construction sector on the other hand, have limited growth opportunities. Growth prospects of the industry are likely to be positive owing to the growing role of lighting in road safety and efficiency in mobility.
"Improvements in tunnel lighting products including adaptive lighting fixtures for different environments and time are projected to boost demand for tunnel lighting offerings, supported by benefits of not only costs, but safety as well," says the Fact.MR analyst.
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Tunnel Lighting Market - Key Takeaways
- Linear configurations of tunnel lighting will contribute significantly to revenue share, owing to relatively better light penetration in confined spaces.
- LED based tunnel lighting systems will reflect a relatively higher rate of growth, for higher energy efficiency standards.
- Europe and North America are leading regional markets for tunnel lighting owing to the major government investments being made towards public transport infrastructure projects.
Tunnel Lighting Market- Driving Factors
- The need for mass transit systems and associated infrastructure to keep up with traffic is the primary factor driving the demand for tunnel lighting.
- Policies by governments towards emission reductions is expected to positively influence developments in terms of new, energy efficient lighting systems.
Tunnel Lighting Market- Key Restraints
- Prohibitive costs associated with the purchase and initial installation costs for tunnel lighting is a key obstacle to adoption rates.
- Environmental concerns over conventional lighting including incandescent and fluorescent offerings holds back growth in the industry.
COVID-19 Impact on Tunnel lighting Market
The Covid-19 pandemic has had an adverse impact on the global tunnel lighting market. Strong restrictions on the construction sector in early 2020, and disruptions to supply chains for raw materials and components during the crisis has limited market growth.
Further, the pandemic has resulted in a shortage of manpower for construction projects, which as delayed lighting deployment projects substantially. The market is likely to recover steadily towards 2021, with pending deliveries helping in ramping up demand.
Tunnel lighting market players are operating in a competitive sector and are focused on product research and development efforts, to improve their portfolios. Also, market players are pushing for large scale contracts with public bodies for long-term revenue.
For instance, in December 2020, Larsen & Toubro has secured a contract for its Power T&D segment for mechanical and electrical systems for tunnels in the Udhampur Srinagar Baramulla rail link project, including lighting systems. Similalrly, Kenall Manufacturing has received a new contract for LED lighting fixtures for the Chesapeake Bay Bridge-Tunnel, which is expected to save around half a million annually in terms of costs and energy. Further, Aldridge Electric has gained a contract for a US$ 6.3 million project to upgrade the lighting systems of the Santa Monica McClure Tunnel.
Some of the leading players in the tunnel lighting market include Acuity Brands Lighting Inc., Aeon Lighting Technology Inc., Cree Inc., Generic Electric Co., Kenall Manufacturing, Koninklijke Philips N.V., Zumtobel Group AG, NINGBO GOLDEN CLASSIC LIGHTING CO., LTD., Schréder, and Thorlux Lighting.
About the Report
This study offers readers a comprehensive market forecast of the tunnel lighting market. Global, regional and country-level analysis of the top industry trends impacting the tunnel lighting market is covered in this FACT.MR study. The report offers insights on the tunnel lighting market on the basis of type (LED lighting, electrodeless lighting, incandescent lighting, fluorescent lighting, and others), shape (linear, round, square, rectangular, and others), installation (surface mounted, hanging, recessed/sidewall, and mounted), and application (roadway tunnels, railway tunnels, mining tunnels, public work tunnels, and others), across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).
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