The tunnel lighting market is projected 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.

Owing to the rise in need of energy conservation and concerns regarding increasing levels of carbon emissions, governments and corporates worldwide are investing in technologies that are energy efficient as well as effective. The lighting products used in tunnels are majorly incandescent lighting, fluorescent lighting, sodium lighting, and others. These types of lights consume more energy. However, with the emergence LEDs technology, tunnel lighting players are highly inclined to use of LEDs in their tunnel lighting products. The LED lighting can be developed in all forms of shape such as linear, square, round, and rectangular. Moreover, these lighting systems can be offered in compact sizes, unlike incandescent, fluorescent, and sodium lighting systems, among others. Compact fluorescent lamps (CFLs) emit ~80% of their energy as heat, while incandescent lights emit 90% of their energy as heat. Thus, the growing popularity of LED tunnel lighting would boost the tunnel lighting market growth in the coming years.

Impact of COVID-19 Pandemic on Tunnel Lighting Market

According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. The outbreak has led to disruptions in primary industries including electronics, construction, and manufacturing. A sharp decline in the growth of mentioned industries is limiting the tunnel lighting market growth.

The overall tunnel lightings market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the tunnel lightings market with respect to all the segments. It also provides the overview and forecast for the global tunnel lightings market based on the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East and Africa, and South America. Also, primary interviews have been conducted with industry participants to validate data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the tunnel lightings market. Major players operating in the global tunnel lightings market include Augean ACUITY BRANDS, INC.; Kenall Manufacturing; Aeon Lighting Technology Inc.; Signify Holding (Philips); Schr?der; Thorlux Lighting; Tungsram; Cree Lighting; Siteco GmbH; GE Lighting; C. & G. CARANDINI; S.A.U.; and Eastar Lighting.