growing demand for led lighting for different applications is driving the Outdoor Landscape Lighting Market in North America
Technavio analyzes that the Outdoor Landscape Lighting Market in North America is expected to grow at a CAGR of 4.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 133.9 million.There are various factors that contribute to the growth of the market. The Outdoor Landscape Lighting Market in North America is experiencing significant growth, driven primarily by the increasing demand for energy-efficient LED lighting solutions. These lights offer numerous benefits, including longer lifespan, lower energy consumption, and versatility for various applications. Homeowners and commercial property managers are recognizing the value of LED lighting in enhancing the aesthetic appeal and safety of outdoor spaces. As a result, the market for outdoor landscape lighting in North America is poised for continued expansion.
The Outdoor Landscape Lighting Market in North America encompasses various product offerings such as well lights and hardscape lights, with designs including minimalist, statement, symmetrical, safety, natural approaches, and outdoor lighting designs. In the commercial market segment, key end-users include office premises, public parks, school playgrounds, restaurant lawns, hotel lawns, corporate lawns, golf courses, and various industries. Notable construction companies like Bechtel Corp., Fluor Corp., and Jacobs Engineering Group Inc. incorporate landscaping-related products, including outdoor landscape lighting, into their projects. LED flat lights (LFLs) are prevalent in office spaces, including outdoor cafeterias or food court areas and business parks, fueling growth in this segment due to the increasing expansion of corporate spaces across North America.
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Outdoor Landscape Lighting Market in North America Segmentation
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The Outdoor Landscape Lighting Market in North America encompasses various applications, including safety and security, nighttime aesthetics, event applications, and recreation. Products include conventional power and energy-efficient options like LEDs, low voltage fixtures, solar panels, and a range of designs such as minimalist, statement, symmetrical, safety, natural, and more. Outdoor lighting enhances curb appeal through path lighting, bollard lighting, deck lighting, in-ground well lighting, underwater lighting, floodlights, well lights, hardscape lights, and landscape lighting designs for home architecture, water features, ornamental landscaping, and more.
The Outdoor Landscape Lighting Market in North America is a significant segment of the larger global Electrical Components and Equipment Market. This market caters to the demand for outdoor illumination solutions, encompassing safety, security, nighttime aesthetics, event applications, and recreation. Key technologies include conventional power sources, LEDs, low voltage fixtures, and solar panels. Companies in this market provide electrical components, equipment, and rental services to industrial, commercial, and residential sectors. The global Electrical Components and Equipment Market size is determined by the combined revenue generated from various segments, including water heaters and accessories, motors, automation solutions, electrical distribution and protection equipment, and more. Outdoor landscape lighting specifically contributes to the segments of sensors, meters and indicators, and lighting equipment.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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