Stadium Lighting Market to grow by USD 200.48 million from 2022 to 2027 | Market driven by the increase in demand for sustainable stadium lighting - Technavio

NEW YORK, Aug. 30, 2023 /PRNewswire/ -- The stadium lighting market is estimated to grow by USD 200.48 million from 2022 to 2027, growing at a CAGR of 7.5%. APAC is estimated to account for 37% of the global market during the forecast period. The increase in demand for sustainable stadium lighting is notably driving the market growth. With the expanding worldwide sports sector, nations are dedicating more resources to building and revamping stadiums. Consequently, the escalating count of stadium construction and upgrades is projected to amplify the need for stadium lighting. Moreover, stadium lighting enriches the stadium experience for viewers and furnishes sports broadcasters with top-notch visuals, especially for slow-motion playback. Thus, the surge in demand for eco-friendly stadium lighting is poised to steer the progress of the stadium lighting market during the forecast period. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) - View Sample report

Key Developments:

• Rapid advances in technology, intense competition, and changing dynamics in the market are the key factors for the intense competition among vendors.
• With the rising competition, the market will see consolidation. However, manufacturing complexities and high production costs pose significant risk factors for vendors in the market.

Market Dynamics

Major Challenges

The rise in environmental concerns related to stadium lights is a significant challenge hindering market growth. The impact of artificial light exposure extends to humans, animals, and plants, with white light sources like metal halide lamps and LEDs emitting substantial levels of bluish light that hinder visibility in low-light settings. These factors can potentially undermine the advancement of the stadium lighting market. The rising ecological apprehensions have led to a surge in the need for intelligent lighting solutions, including automated light control systems, to curtail excessive light exposure to humans, animals, and plants. Consequently, these environmental considerations could hinder the progression of the stadium lighting market during the forecast period. 

Key Trends -The increase in the adoption of LED stadium lighting is an emerging market trend shaping the market growth. 

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Landscape
The stadium lighting market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Company Profiles

The stadium lighting market report includes information on the product launches, sustainability, and prospects of leading vendors including Acuity Brands Inc., ams OSRAM AG, Bajaj Electricals Ltd., Canara Lighting Industries Pvt. Ltd., Eaton Corp. Plc, General Electric Co., GS LIGHT , Hubbell Inc., KCL Engineering, Koninklijke Philips NV, LG Electronics Inc., Lutron Electronics Co. Inc., Musco Sports Lighting LLC, Nila Inc., Panasonic Holdings Corp., Qualite Sports Lighting LLC, Signify NV, Techline Sports Lighting, Wipro Enterprises Ltd., and Zumtobel Group AG.

 Market Segmentation

This stadium lighting market report extensively covers market segmentation by source (HID, LED, and others), type (retrofit installation and new installation), and geography (APAC, Europe, North America, Middle East and Africa, and South America). 

• The market share growth by the HID segment will be significant during the forecast period. Various types of HID lamps encompass mercury-vapor lamps, metal-halide lamps, and sodium-vapor lamps. Given the luminous output of approximately 75 lumens per watt and the higher wattage of HID lights, they find greater usage in stadium lighting compared to other applications like street lighting or parking lots. However, due to their extended warm-up and restrike durations, HID lights necessitate considerable time to reach full illumination after activation. This characteristic leads to a longer downtime for restriking in case of power interruptions during sports events. Consequently, potential alternatives like LED lights are projected to experience accelerated growth in the forecast period. As a result, these dynamics could have an adverse effect on the HID segment and, consequently, the overarching market during the forecast period. 

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Source

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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