Outdoor Landscape Lighting Market: 44% of Growth to Originate from APAC, Driven by Growing Demand for LED Lighting for Different Applications Technavio – Yahoo Finance

August 29, 2022 by No Comments

NEW YORK, Aug. 29, 2022 /PRNewswire/ — The Outdoor Landscape Lighting Market report provides a detailed analysis of the competitive scenario, the pre-and post-COVID-19 impact on businesses, and the market growth across various regions. The outdoor landscape lighting market is estimated to grow by USD 664.88 million from 2021 to 2026, growing at a CAGR of 5.52% as per the latest market report by Technavio. 44% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for outdoor landscape lighting in APAC. Market growth in this region will be faster than the growth of the market in other regions. The rising disposable incomes, an increasing number of dual-income households, growing product awareness, and increasing availability of a comprehensive range of product offerings will facilitate the outdoor landscape lighting market growth in APAC over the forecast period.

Latest market research report titled Outdoor Landscape Lighting Market by End-user, Application, Light Source, and Geography – Forecast and Analysis 2021-2025 has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years

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Outdoor Landscape Lighting Market – Market Dynamics

Major Driver

  •  The key factor driving growth in the outdoor landscape lighting market is the growing demand for LED lighting for different applications. 

  • The commercial viability of LEDs has accelerated their use for different applications, including the ATG and underwater segments. They are increasingly deployed in retail, hospitality, architecture, as well as other commercial and residential applications.

  • This is increasing the adoption of LED lighting worldwide. The continuous decrease in the average selling price (ASP) of LED is expected to positively affect its penetration and market size considerably in both the residential and commercial sectors during the forecast period. These factors are expected to boost the growth of the global outdoor landscape lighting market during the forecast period.

Major Challenges

  • The poor performance of LED lighting at high temperatures will be a major challenge for the outdoor landscape lighting market during the forecast period.

  • The performance of LED chips and their related products is inversely proportional to temperature. The higher the temperature, the lower the LED performance. Since LED lights work on electricity and electricity generates heat, the constant current results in the light output of an LED varying as a function of its junction temperature. At the high junction, the temperature heats the semiconducting element, resulting in causing the light output to decrease at a faster rate over the long term.

  • High temperatures do not affect the functioning of traditional lighting due to their warm beams. However, LEDs perform better in a relatively cooler environment as they have a cool beam due to the absence of infrared radiation. This factor, along with LED lighting’s high cost, is expected to pose a threat to the overall growth of the global outdoor landscape lighting market.

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Source: https://finance.yahoo.com/news/outdoor-landscape-lighting-market-44-071500968.html

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