Global Industrial Lighting Market was valued at USD 6.50 Billion in 2021 and is expected to reach USD 9.33 Billion by the year 2028, at a CAGR of 5.3%.
The manufacturing, distributing, and installing of lighting systems made especially for industrial use are all part of the industrial lighting market. The special needs of industrial settings, such as factories, warehouses, manufacturing plants, and outdoor industrial locations, are catered for in these lighting systems. Typical industrial lighting options include explosion-proof lights, area lights, floodlights, low bay lights, high bay lights, and so on. The design of industrial lighting must take several important factors into account, such as energy efficiency, robustness, and safety requirements compliance. Urbanization, industrialization, retrofitting of existing industrial buildings with energy-efficient lighting systems, and the growing use of LED technology are some of the factors propelling the market's growth. Initiatives supporting energy efficiency, sustainability, and smart lighting for industrial use also have an impact on market dynamics.
Players Covered in Industrial Lighting market are:
Siemens, GE Lighting, Signify (formerly Philips Lighting), USHIO America Inc., Crompton Greaves Ltd., Acuity Brands Lighting Inc., Litetronics InternationalInc., Havells India Ltd, and OSRAM Gmbh, among and others major key players.
The latest research on the Global Industrial Lighting Market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Industrial Lighting industry, considering all significant industry trends, market dynamics, and competitive landscape. In addition, the analysis includes critical information on the Industrial Lighting Market status of the main market players, major trends, and future market development opportunities. These research papers are designed to help readers find information and make decisions that will help them grow their business. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
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Segmentation Analysis of the Industrial Lighting Market
By Light Source, the fluorescent lighting segment has occupied the largest market share, of 66.09%, according to year 2020. On the other hand, the LED segment is expected to witness the highest CAGR over the forecast period. Also, as the incandescent lamps were banned for commercial and industrial purposes the demand for HID (HIGH-INTENSITY DISCHARGE) lightings rose, especially for high-bay type lightings.
By Type
- High/Low Bay Lighting
- Flood/Area Lighting
By Light Source
- LED
- High-intensity Discharge (HID) Lighting
- Fluorescent Lighting
By End-User
- Oil & Gas
- Mining
- Pharmaceutical
- Manufacturing
- Warehouse
- Other
Drivers in the Industrial Lighting Market:
- Energy Efficiency: As the need for sustainable development and energy conservation grows, industrial facilities are adopting energy-efficient lighting solutions to cut expenses and carbon emissions.
- Compliance with Regulations: Tight laws requiring energy-efficient lighting and high safety standards in industrial environments drive demand for compliant lighting products.
- Technological Advancements: Quick developments in LED technology, IoT integration, and smart lighting systems improve illumination durability, controllability, and efficiency, spurring market expansion.
- Industrial Expansion: As the manufacturing, warehousing, and logistics industries grow, so does the need for industrial lighting solutions to illuminate enormous facilities and raise worker productivity and safety.
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Opportunities in the Industrial Lighting Market:
- Smart Lighting Solutions: To reduce energy consumption, improve safety, and facilitate predictive maintenance in industrial settings, there are opportunities to develop smart lighting systems with sensors, controls, and automation capabilities.
- Customized Solutions: Manufacturers can meet special lighting requirements and obtain a competitive edge by providing customized lighting solutions suited to certain industrial applications and surroundings.
- Entry into Developing Markets: There are prospects for market expansion and higher sales of industrial lighting solutions in developing regions with increasing industrialization, such as Asia-Pacific and Latin America.
- Aftermarket Services: Offering aftermarket services to industrial lighting system owners, such as maintenance, repair, and retrofitting, creates a steady source of income and improves client relations.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Report includes Competitor's Landscape:
- Major trends and growth projections by region and country
- Key winning strategies followed by the competitors
- Who are the key competitors in this industry?
- What shall be the potential of this industry over the forecast tenure?
- What are the factors propelling the demand for the Action Figures And Statues?
- What are the opportunities that shall aid in significant proliferation of the market growth?
- What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
- How has the covid-19 impacted the growth of the market?
- Has the supply chain disruption caused changes in the entire value chain?
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