Europe Tunnel Lighting Market
Europe comprises Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe consists of Switzerland, Sweden, Denmark, and the Netherlands, among other countries. Well-established transportation and logistics sectors are positively influencing the demand for tunnel lighting systems in Europe. Further, the European Commission is funding various projects to improve smart transportation systems in the region. The region is known for its highest transportation safety standards in the world, which is among the major factors responsible for the adoption of tunnel lighting. Also, high emphasis on energy conservation in the region’s governments is increasing the use energy efficient technology, thereby favoring the adoption of LED technology for tunnel lighting application. Moreover, the region is known for prioritizing the development and improvement of regional transport infrastructure. Raised need for road safety is the major factor driving the growth of the Europe tunnel lighting market.
The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. To protect its citizens from the COVID-19 virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. During the COVID pandemic, Europe was one of the regions that was heavily impacted with stoppage in production of factories in the manufacturing and construction sectors. The industry's employees had a significant impact for a brief time when production was suspended due to social distancing conventions. As government’s emphasis on big infrastructure plans and investments, the tunnel lighting business has gained traction and is constantly moving forward. Furthermore, the industry has taken advantage of this time to close loopholes and impose a specific future. The sales for LED lights are set to rebound in the coming months which will impact the tunnel lighting market as well. The European region has the biggest market in tunnel lighting sector in the world.
Strategic insights for the Europe Tunnel Lighting provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 748.64 Million |
| Market Size by 2028 | US$ 1,063.41 Million |
| Global CAGR (2021 - 2028) | 5.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Design
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Tunnel Lighting refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The tunnel lighting market in Europe is expected to grow from US$ 748.64 million in 2021 to US$ 1,063.41 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2021 to 2028. Mining involves extraction of minerals from the surface of the earth. These minerals are the backbone of human civilization as the utilization of these minerals has flourished the development of human society. The extracted minerals are widely used across various industries such as manufacturing, power generation, chemical and petrochemical, healthcare & pharmaceutical, and construction. Currently, copper, coal, iron ore, gold, and aluminum are among the most mined minerals. Moreover, the aggregate revenue of top 40 mining companies has grown steadily from 2016 to 2019. In 2020, the fall in revenue was due to the outbreak of COVID-19. Moreover, with growing rate of industrialization and urbanization and increasing need for energy, the demand for minerals is projected to increase significantly during the forecast period. The steady growth of mining industry is subsequently contributing to the adoption of tunnel lighting for mining application, thereby generating steady growth opportunities for the tunnel lighting market players.
The Europe tunnel lighting market is segmented based on design, installation, type, application, and country. Based on design, the tunnel lighting market is sub-segmented into standard and customized. The standard segment dominated the market in 2020 and customized segment is expected to be the fastest growing during the forecast period. Based on installation, the tunnel lighting market is categorized into surface mounted, hanging, recessed/side wall mounted. The surface mounted dominated the market in 2020 and hanging segment is expected to be the fastest growing during the forecast period. Based on type, the market is segmented into LED lighting, incandescent lighting, fluorescent lighting, and others. The LED lighting segment dominated the market in 2020 and incandescent lighting segment is expected to be the fastest growing during the forecast period. Based on application, the market is segmented into mining tunnels, roadway tunnels, railway tunnels, and others. The mining tunnels segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period.
A few major primary and secondary sources referred to for preparing this report on the tunnel lighting market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Aeon Lighting Technology Inc.; C. & G. CARANDINI, S.A.U.; Cree Lighting; Schréder; Signify Holding (Philips); Siteco GmbH; Thorlux Lighting; and Tungsram are among others.
The Europe Tunnel Lighting Market is valued at US$ 748.64 Million in 2021, it is projected to reach US$ 1,063.41 Million by 2028.
As per our report Europe Tunnel Lighting Market, the market size is valued at US$ 748.64 Million in 2021, projecting it to reach US$ 1,063.41 Million by 2028. This translates to a CAGR of approximately 5.1% during the forecast period.
The Europe Tunnel Lighting Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Tunnel Lighting Market report:
The Europe Tunnel Lighting Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Tunnel Lighting Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Tunnel Lighting Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Europe Tunnel Lighting Market
