Market Scenario:
The latest report published by Market Research Future (MRFR) reveals that the global industrial lighting Industryis expected to grow at. The key driver of the market is the rapid industrialization all across the globe which has fueled the demand for good quality industry lighting. The initiatives undertaken by the government to boost green technology in lighting has led to innovation and expansion of product portfolios of the market players which has augmented the competition among them. Other factors which can have a positive impact on market growth are the adoption of light-emitting diodes (LEDs), subsidies on LEDs, demand for smart lighting, etc.
The global Industrial Lighting Market are bifurcated into light source type, product, applications, and region. The light source type includes LED, fluorescent, high intensity discharge, incandescent, CFL, halogen and others. The products include industrial wall lights, vintage industrial lighting, industrial look lighting, industrial hanging light, task lighting, accent lighting and others. The applications include factory & production lines, hotels & restaurants, outer premises, parking areas, hazardous locations, warehouse and others. The region includes North America, Europe, Asia Pacific and rest of the world.
The regional analysis of industrial lighting market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading region across the world in terms of largest market share in industrial lighting market owing to the company’s investments in the manufacturing of different types of industrial lights products including accent lighting, task lighting spot lights, hanging fixtures, post lanterns, wall lighting, recessed fixtures, and others and the expansion by key industrial lighting manufacturers. The industrial lighting market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia-Pacific countries like China, Japan and India is an emerging market for industrial lighting market and expected to be the highest CAGR in the coming years due to the high growth in infrastructural building projects in this region.
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Key Players:
The prominent players in the global Industrial Lighting market – Emerson Electric (US), Legrand (France), Acuity Brands Lighting, Inc. (US), TOYODA GOSEI Co., Ltd (Japan), Cree, Inc. (US), Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting, Inc. (US), General Electric (US), Zumtobel Group (Austria), Osram Licht AG (Germany) and among others.
Global Industrial Lighting Market Segmentation:
The global Industrial Lighting Market are bifurcated into light source type, product, applications, and region. The light source type includes LED, fluorescent, high intensity discharge, incandescent, CFL, halogen and others. The products include industrial wall lights, vintage industrial lighting, industrial look lighting, industrial hanging light, task lighting, accent lighting and others. The applications include factory & production lines, hotels & restaurants, outer premises, parking areas, hazardous locations, warehouse and others. The region includes North America, Europe, Asia Pacific and rest of the world.
Regional Analysis:
By region, the market has been segmented into Asia Pacific, North America, Europe, and Rest-of-the-World (RoW). North America has seen developments such as Philips Lighting Holding B.V. (Netherlands) partnering with World Council on City Data (WCCD) which have been fueling the market growth in the region. The constant support of the government to the players of the market to reduce carbon emission is also one of the key drivers of the market. In this region, the demand for LED lights is driving the growth of the market owing to features such as longer lifespan, low cost, lower power consumption, etc. Other factors responsible for the growth of market in the region are company’s investments in the manufacturing of different types of industrial lights products including accent lighting, task lighting spotlights, hanging fixtures, post lanterns, wall lighting, recessed fixtures, etc., and, the expansion of product portfolio by key industrial lighting manufacturers.
Europe holds the potential to witness a boom in the market owing to factors such as widespread urbanization and standardized industrialization. The adoption of LED lights has enhanced the quality of industrial lighting which has is a key driver of the market. The Asia Pacific market is in a developmental phase, with industries in this region still growing. It possesses immense potential for augmented demand in the coming years. Moreover, the region is home to emerging economies such as India and China that are battling problems of hazardous pollution. Adoption of LED lights can play a part in reducing carbon monoxide levels and accelerate regional market growth.
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Intended Audience:
- Light manufacturing companies
- Product sales and distribution companies
- Original equipment manufacturers
- Original design manufacturers
- Installers and maintenance service providers
- Light providers
- Research and development companies
- Market research and consulting firms
- Technology standards organizations
- Technology investors
- System Integrators
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