At CAGR of 5.4%, Tunnel Lighting Market is expected to grow from US$ 1,978.8 Million in 2021 to US$ 2,955.7 Million by 2028 | The Insight Partners

According to our latest market study on "Tunnel Lighting Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Design (Standard and Customized), Installation (Surface Mounted, Hanging, and Recessed/sidewall mounted), Type (LED lighting, Incandescent lighting, Fluorescent lighting, and Others), and Application (Mining Tunnels, Roadway Tunnels, Railway Tunnels, and Others) and Geography," the market is expected to reach US$ 2,955.7 million by 2028 from US$ 1,978.8 million in 2020; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028."

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Minerals extracted from mining are the backbone of human civilization. These minerals are widely used across industries such as manufacturing, power generation, chemicals and petrochemicals, healthcare and pharmaceuticals, and construction. Currently, copper, coal, iron ore, gold, and aluminum are among the most mined minerals. Moreover, the aggregate revenue of the top 40 mining companies has grown steadily from 2016 to 2019. In 2020, they witnessed a fall in revenue due to the COVID-19 outbreak. Moreover, with the growing rate of industrialization and urbanization, and the increasing need for energy, the demand for minerals is projected to rise significantly during the forecast period. The steady growth of the mining industry is subsequently boosting the adoption of tunnel lighting at mining sites, thus generating steady growth opportunities for the tunnel lighting market players.

The railway plays a pivotal role in the transport system of any economy as the development of trade, industry, and commerce is largely dependent upon the development of transport infrastructure. The railways are not only considered cost-efficient but also a reliable source of transport. A large number of goods and passengers can be transported over long distances with minimum possibilities of failures or delays compared to roadways. Moreover, the load capability of trains is elastic as the number of wagons can be increased or decreased. Furthermore, it is also one of the environmentally friendly means of transport as modern rail engines are electrically powered compared to conventional diesel-powered engines. Owing to these benefits governments across the globe are increasingly focusing on the development of their railway network.

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Increasing Need for Road Safety Boosts Tunnel Lighting Market Growth

Roadways tunnels, especially highway tunnels, are among the most accident-prone zones due to the high speed of vehicles. Thus, it is important to maintain sufficient lighting conditions inside the tunnel for ensuring a smooth flow of traffic. Optimum lighting allows vehicle drivers to identify obstacles and navigate through the tunnel without reducing speed. The CIE Guidance for tunnel lighting system compels system integrators to consider 5 key areas-access zone tunnel lighting system, threshold zone tunnel lighting system, transition zone tunnel lighting system, interior zone tunnel lighting system, and exit zone tunnel lighting system. Moreover, the growing road networks in remote and mountainous terrains are leading to the construction of newer roadway tunnels. Thus, the rise in the number of roadway tunnel development projects, coupled with the increasing importance of road safety, is driving the growth of the tunnel lighting market.

Tunnel Lighting Market: Competitive Landscape and Key Developments

ACUITY BRANDS, INC., Kenall Manufacturing, Aeon Lighting Technology Inc., Signify Holding (Philips), Schréder, Thorlux Lighting, Tungsram, Cree Lighting, Siteco GmbH, GE Lighting, C. & G. CARANDINI, S.A.U., and Eastar Lighting are among the major companies operating in the tunnel lighting market.

The players operating in the tunnel lighting market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their market positions. A few developments by key players are listed below:

1. In 2021, Acuity Brands and ams OSRAM reached an Agreement for Acuity to acquire the ams OSRAM Digital Systems Business in North America.

2. In 2020, Cree Lighting announced the expansion of the Wisconsin-based manufacturing facility of Racine.

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