NEWARK, Del, April 03, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the high mast lighting market value is forecast to increase from US$ 1,320.2 million in 2024 to US$ 2,109.5 million by 2034. Over the assessment period, demand for the high mast lighting market is projected to surge at a CAGR of 4.8%.
High mast lighting is used in highways, expressways, bridges, and tunnels to ensure safe navigation, improve visibility, and reduce accident risks. It is commonly used in industrial complexes, logistics hubs, ports, and construction sites to illuminate large areas for operations, loading/unloading activities, and security monitoring.
Advanced lighting technology, including energy-efficient luminaires, smart controls, and LEDs, enhances the longevity, performance, and efficiency of high mast lighting systems. This is driven by global infrastructure projects, population expansion, and rapid urbanization.
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Stricter laws, safety and security concerns, and rising energy prices drive governments, towns, and private organizations to invest in high-quality lighting solutions, driving market growth. The shift to high mast lighting is further driven by growing environmental concerns, regulatory requirements, and rising energy prices.
Key Takeaways from the Report
- The global high mast lighting market value is set to reach US$ 1,320.2 million in 2024.
- By 2034, the market is anticipated to rise at a 4.8% CAGR.
- The global high mast lighting market is expected to reach US$ 2,109.5 million by 2034.
- China is expected to surge at a CAGR of 3.5% by 2034.
- India's high mast lighting market is set to rise at 4.6% CAGR by 2034.
"The high mast lightening market is driven by the integration of smart lighting controls, sensors, and data analytics amid rising smart city initiatives to improve urban infrastructure, quality of life, and resource utilization. The market presents opportunities for suppliers, manufacturers, and service providers to collaborate, innovate, and meet evolving client needs, advancing smarter, safer, and more sustainable built environments."- says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape
The high mast lighting market is fairly consolidated, with leading players accounting for around 31% share. Bajaj Electricals, Carolina High Mast, Jindal Power Corporation, Philips Lighting, and Yangzhou Bright Solar Solutions are the leading manufacturers and suppliers in the high mast lighting market listed in the report.
Key high-mast lighting market companies are investing in continuous research to produce new products and increase their capacity to meet end-user demand. They are directed toward adopting growth strategies to strengthen their footprint, including partnerships, mergers, acquisitions, and facility expansions.
Key Companies -
- Bajaj Electricals Limited, a Mumbai-based Indian company, is a leading provider of consumer appliances and lighting solutions. Established in 1938, it has a turnover of INR 5,429 crores and is part of the US$ 100 billion Bajaj Group.
- Carolina High Mast Industries, Inc. offers tubular steel poles for transmission, distribution, substation, and sports lighting, with a professional staff for engineering, fabrication, quality control, and project management.
- Jindal Power Corporation, a key player in the Electrification project field, is a subsidiary of Jindal Sons, an ISO 9001; 2015 certified company based in Kanpur, Uttar Pradesh.
Key Companies Profiled
- Bajaj Electricals
- Carolina High Mast
- Jindal Power Corporation
- Philips Lighting
- Yangzhou Bright Solar Solutions
- HETEC Lighting
- Industrial Poles&Masts
- Genlux Lighting
- Laster Tech
- Valmont Industries
- Millerbernd Manufacturing Company
- Kasper Engineering
- American LitePole
- StressCrete
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High Mast Lighting Market Segmentation by Category
By Type:
- Adjustable for Height
- Nonadjustable for Height
By Technology:
- LED (Light-emitting Diode)
- LFL (Linear Fluorescent)
- HPS ( High-Pressure Sodium)
- MH (metal-halide lamp)
By Application:
- Roads and Highways
- Industrial Areas
- Stadiums and Sports Complexes
- Ports and Harbors
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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