Stadium lighting market is anticipated to expand at a substantial pace globally in the coming years. This is due to the increase in the number of both international as well as national sports events. This factor is presumed to be the primary factor for boosting the growth of the stadium lighting market globally. Since stadium lights have high intensity illumination, they are used for both outdoor as well as indoor purposes. With technological advancement, the structure of stadiums have also been upgraded, keeping in mind the cost efficiency and environment friendly procedures. International level games that come back after a particular tenure period brings business not only to the game and players but also to every other business connected with it. Upcoming games like Football Cup 2018, Winter Olympic Games, and PyeongChang 2018 is likely to boost the stadium lighting market. Various countries solely concentrate on sports.
The global stadium lighting market is expected to see a classification according to geography, installation type, solution set up, offering and light source. On the basis of light source, the market is segmented into induction lights, High Pressure Sodium (HPS), High-Intensity Discharge (HID) and Light Emitting Diode (LED). Based on offering, the market is categorized into services, control systems and lamps and luminaries. On the basis of solution set-up, the market is segmented into retrofit installation and new installation. In terms of geography, the market is segmented into South America, Middle East and Africa, Asia Pacific, Europe, and North America.
The report presented here is a complete evaluation of global stadium lighting market with large focus on market dynamics that includes market drivers, restraints, and trends and opportunities. It also offers geographical and other segmentation studies of the market.
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Global Stadium Lighting Market: Trends and Opportunities
An important trend in the stadium market is the introduction of energy efficient lighting systems and also high power lighting systems. Upcoming events like the Super Bowl LII 2018, Rugby World Cup 2019 in Japan and other such games bring about the need to provide best lights for the stadiums. These grand events are presumed to attract technology providers to implement advanced stadium lighting solutions. Broadcast demands are also met with the use of Led lights as they provide improved quality light unlike conventional lightings.
The Government is also taking initiatives to subsidize smart stadium lighting and this may boost up the stadium lighting sales. There are a few manufacturers in the market, which means that the market is monopolistic.
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Global Stadium Lighting Market: Regional Analysis
The global stadium lighting market could be classified into the regions of South America, Middle East and Africa, Asia Pacific, Europe, North America, and the Rest of the World. The market in the Rest of the word is presumed to grow at a higher CAGR by the end of the forecast period. In the Middle East area, Qatar is about to host the 2022 Fifa World Cup and so the country is likely to offer more growth opportunities in the stadium lighting market. Adding to that, countries like United Arab Emirates, Bahrain, and Saudi Arabia are likely to host major sports events in years to come. Thus, Middle East region is anticipated to be opening new opportunities of growth in the stadium lighting market.
Global Stadium Lighting Market: Competitive Analysis
Major companies in the global stadium lighting market are Zumtobel Group (Austria), Panasonic Corporation (Japan), LG Electronics (South Korea), Philips Lighting (Netherlands), and Musco Sports Lighting (US). Leading companies are making efforts to extend their presence in different parts of the world in order to give tough competition to the other players.