DUBLIN–(BUSINESS WIRE)–The “Outdoor LED Panel Lighting Market by Installation (New, Retrofit), Offering, Sales Channel, Communication, Wattage (Below 50W, 50-150W, Above 150W), Application (Streets and Roads, Architecture, Sports, Tunnels) and Geography-Global Forecast to 2027″ report has been added to Research And Markets. com’s offering.

With development, additions to the base are added to the base and new installations to the lighting market are constantly being added. Install new equipment for various projects such as roads, stadiums, tunnels, etc. Hence, the new installations segment will hold a larger market share throughout the forecast period.

1. The streets and roads application segment is likely to dominate the outdoor LED lighting market from 2022 to 2027

According to market estimates, the streets and roads segment is expected to hold the largest market share throughout the forecast period owing to rapid urbanization and governments to reduce energy consumption by adopting LED lighting solutions. Energy requirements are high. Therefore, switching to LED lighting is a better choice. Streets and roads are expected to offer lucrative opportunities for outdoor LED lighting market players.

2. Europe is projected to account for the second-largest market share in the outdoor LED lighting market

The outdoor LED lighting market in Europe considers Germany, France, Italy, UK, and Rest of Europe for the study.These countries are expected to provide products for various applications under investigation in this study.

Germany has more than 50 medium-sized companies that manufacture LED lighting products. The sustainable policies of the government in this region drive the demand for the outdoor LED lighting market. Two recent policy measures – updated Ecodesign regulations and RoHS Directive regulations governing hazardous substances in electrical equipment – will shift the EU market away from conventional mercury-containing fluorescent lighting to advanced LED lighting technology.