Los Vegas replaced 6600 streetlights with LED beginning in 2011 Navigant Research expects an installed base of 116 million units worldwide by 2023 Ethan Miller / Getty Images News
<p>Los Vegas replaced 6,600 streetlights with LED beginning in 2011. Navigant Research expects an installed base of 116 million units worldwide by 2023.</p>

Navigant Expects 116 Million LED Streetlights Installed by 2023

The market for street and roadway lighting is undergoing a rapid transition from conventional technologies, such as high pressure sodium, to light-emitting diode (LED) light sources. High pressure sodium remains the biggest seller today, but some companies that sell them are already planning to discontinue their non-LED product lines. According to a recent report from Navigant Research, the installed base of LEDs in street lighting worldwide is expected to grow from 13.2 million in 2014 to more than 116 million in 2023.

Driving this rapid adoption are benefits including cost savings from both reduced energy consumption and deferred maintenance costs.

“LED prices have come down to the point where payback periods are becoming attractive for cities, with or without government subsidies,” said Jesse Foote, senior research analyst with Navigant Research.

Despite the reduction in costs, significant obstacles to LED adoption remain, according to the report. In many areas the utility owns the streetlights, and investor-owned utilities, the benefits of a lighting upgrade are less straightforward. As those utilities begin to change their thinking, another wave of LED street light adoption is expected in the coming years, Navigant concludes.

The report, “Smart Street Lighting”, analyzes the global market for roadway and highway lighting. It provides an analysis of the market issues, including drivers and trends, barriers, and ownership models, associated with lamps, luminaires, and lighting controls in these street lighting applications. Global market forecasts for unit sales and revenue, segmented by region, application, and equipment and construction type, extend through 2023. The report also examines the key codes, standards, and technologies related to street lighting, as well as the competitive landscape.

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