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Pulished Date March, 2021
ID: 11237
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Commercial lighting market segmentation by Product (LED LAMPS, LED fixtures) By Application (indoor lighting, outdoor lighting) By End-user (industrial, commercial) – global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: March, 2021
ID: 11237
Pages: 175

Commercial Lighting Market Size, Trends & Growth (2021 - 2026)

The LED or light-emitting diode is a semiconductor light source, which has the ability to convert electrical energy into light energy. In recent years, due to increasing environmental degradation and energy problems, there has been a great demand for LED lighting. This type of lighting is very cost-effective and durable. In addition, it is also more visually attractive. Therefore, the market demand for industrial commercial LED lighting is expected to increase further in the coming years.

By switching to energy-efficient LEDs, an estimated $ 18 billion in electricity cost savings can be achieved. There is a growing need for energy savings around the world, which is creating opportunities for the market. The transition to energy-efficient lighting is expected to reduce global electricity demand for lighting by 30-40% by 2030. Countries around the world are widely adopting LED lighting. For example, New York planned to replace 250,000 LED streetlights, followed by the replacement of decorative lights in urban areas. Barcelona (Spain) has deployed more than 3,000 smart street lamps based on LED technology, which gathers information on pollution, humidity, noise, and the environment in general. Growing consumer awareness of the environment and the sustainability of these lamps, coupled with government mandates for energy efficiency, are driving the growing adoption of LEDs.

Recent Developments:

  • In 2019, Cree, Inc. (Nasdaq: CREE) announced the signing of a definitive agreement for the sale of its Lighting Products ("Cree Lighting") business unit, which includes luminaires, lamps, and LED lighting solutions for business applications commercial, industrial and consumer, at IDEAL INDUSTRIES, INC. for approximately $ 310 million before tax implications, including initial and conditional consideration and assumption of certain liabilities.
  • In 2019, Acuity Brands, Inc. (NYSE: AYI) announced that its wholly-owned subsidiary, Acuity Brands Lighting, Inc., has completed the acquisition of all interests in The Luminaires Group ("TLG"), a leading provider of luminaires Quality for the commercial, institutional, hotel, and municipal markets.

IMPACT OF COVID-19 ON COMMERCIAL LIGHTING MARKET:

The COVID-19 pandemic has severely affected the LED lighting market by disrupting the supply chain, delaying manufacturing, and impacting the lighting industry. The construction industry has also seen a decline, leading to a decline in demand for lighting products. While countries like Australia have not stopped construction, projects have been closed for a considerable period in the United States, India, and many European countries. Additionally, the slowdown in retail, manufacturing, and other sectors has resulted in lower demand due to a reduced budget for a new warehouse or retail space. The adoption of LED lighting products would be further affected as the suppliers plan to increase the prices of the products. The COVID-19 outbreak had a significant impact on the lighting industry due to lockdowns in many countries and supply chain disruptions. Therefore, most OEMs and lighting integrators see a shortage of electronic components, such as LED chips and drivers. This created an imbalance, which resulted in a gap between supply and demand and an increase in the prices of lighting products. For example, Signify has announced a temporary price hike for all electronic components for LEDs and lamps, as its supply chain costs are increasing due to the pandemic. A disruption in the supply chain would create an imbalance in the supply and demand equation and create pressure between entities in the smart lighting ecosystem.

Drivers and Restraints of Commercial Lighting:

Drivers:

Currently, there are several smart city projects underway around the world that provide opportunities for technology companies, technology service providers, public service providers, and consulting firms. The efficient use of electricity is one of the main objectives of the infrastructure of smart cities. Smart cities are considered the engine of sustainable economic growth in a country. Energy efficiency, resource sustainability, and advances in digital technologies have led to the emergence of the concept of smart cities. Smart lighting application is expected to play an important role in achieving sustainability and energy saving.

Restraints:

The initial cost of smart lighting, along with the cost of integration and installation services, is high. Smart lights include hardware components such as dimmers, switches, sensors, control systems, and software. Therefore, the installation cost of smart lighting is higher than that of conventional lighting. This is primarily due to the need for very expensive software, control systems, and LED light sources for smart lighting solutions. This makes it difficult to adopt smart lighting control systems.

Commercial lighting Market Segmentation:

By Product

  • LED Lamps
  • LED Fixture

LED luminaires became the largest segment and accounted for 56% of global revenue in 2019. The luminaires are widely used in the commercial and industrial lighting segments. They are more expensive than conventional LED lamps; therefore, luminaires represent a larger market share than LED lamps. The new facilities primarily stimulate growth. It includes lights used in street lighting, tall windows, downlights, floor lamps, troffers, and pendant lights for various applications. Fixtures provide more light per power output and are easier to control, allowing optical designers to use them more efficiently and use less light to illuminate the same area.

By Application

  • Indoor Lighting
  • Outdoor Lighting

The indoor lighting segment is projected to hit the highest CGAR in the forecast period. Increasing construction of buildings is likely to propel the demand of the market. The outdoor lighting segment is positioned second in leading the largest shares of the commercial lighting market.

By End-User

  • Industrial
  • Commercial

The smart interior lighting market is expected to occupy the largest share due to high demand in commercial spaces. In these applications, smart lighting is an essential element in creating a modern workspace that appeals to clients with changing preferences. It continues to help owners create a flexible work environment, reduce expenses, improve work efficiency, and create quality lighting that enhances the occupant experience. Therefore, the adoption of smart lighting in commercial spaces is gaining popularity and presents great opportunities in the near future due to smart city initiatives from governments around the world.

Commercial Lighting Region-wise analysis:

Marked Segmentation based on the region:

North America

  • U.S
  • Canada

North America is ruling with the highest shares of the market. Increasing economic and rising disposable income in urban areas are boosting up the demand for the commercial lighting market in North America. Growing prevalence for modern technologies is ascribed to bolster the growth rate of the market in this region.

Europe

  • Norway
  • Germany
  • Sweden

Asia Pacific

  • China
  • India
  • Japan

Asia Pacific (APAC) is expected to be the fastest-growing market for the commercial lighting market. Projects related to modernization and infrastructure development, such as smart cities, in the region, would also stimulate demand for smart street lighting, thus driving the growth of the commercial smart lighting market in this region. The increasing number of smart cities and infrastructure projects undertaken by governments will create several new opportunities for energy-efficient lighting and advanced lighting systems in the years to come.

Latin America

  • Brazil
  • Mexico
  • Argentina

The Middle East and Africa

  • Middle East
  • Africa

Key Players of Market:

  • Acuity Brands Lighting Inc.
  • Cree Inc. (IDEAL INDUSTRIES INC.)
  • Dialight
  • Digital Lumens Inc.
  • GE Current
  • Hubbell
  • LSI Industries Inc.
  • LumiGrow
  • Panasonic Corporation
  • Siteco GmbH
  • Signify Holding
  • Semiconductor Co. Ltd. (Seoul Semiconductor)
  • Zumtobel Group Ag

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Commercial Lighting Market, By Product              

                    6.1.1 LED Lamps    

                    6.1.2 LED Fixture    

                    6.1.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 Commercial Lighting Market, By Application                   

                    6.2.1 Indoor Lighting        

                    6.2.2 Outdoor Lighting     

                    6.2.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.4 Y-o-Y Growth Rate Analysis         

                    6.2.5 Market Attractiveness Index         

          6.3 Commercial Lighting Market, By End-User           

                    6.3.1 Industrial       

                    6.3.2 Commercial   

                    6.3.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.3.4 Y-o-Y Growth Rate Analysis         

                    6.3.5 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Product     

                    7.2.3 By Application

                    7.2.4 By End-User   

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Product     

                    7.3.3 By Application

                    7.3.4 By End-User   

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Product     

                    7.4.3 By Application

                    7.4.4 By End-User   

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Product     

                    7.5.3 By Application

                    7.5.4 By End-User   

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Product     

                    7.6.3 By Application

                    7.6.4 By End-User   

8. Key Player Analysis                           

          8.1 Acuity Brands Lighting Inc.              

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Cree Inc. (IDEAL INDUSTRIES INC.)             

          8.3 Dialight            

          8.4 Digital Lumens Inc.               

          8.5 GE Current                  

          8.6 Hubbell            

          8.7 LSI Industries Inc.                 

          8.8 LumiGrow                   

          8.9 Panasonic Corporation          

          8.10 Siteco GmbH             

          8.11 Signify Holding                   

          8.12 Semiconductor Co. Ltd. (Seoul Semiconductor)             

          8.13 Zumtobel Group Ag            

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Commercial Lighting Market By Region, From 2021-2026 ( USD Billion )
  2. Global Commercial Lighting Market By Product, From 2021-2026 ( USD Billion )
  3. Global LED Lamps Market By Region, From 2021-2026 ( USD Billion )
  4. Global LED Fixture Market By Region, From 2021-2026 ( USD Billion )
  5. Global Commercial Lighting Market By Application, From 2021-2026 ( USD Billion )
  6. Global Indoor Lighting Market By Region, From 2021-2026 ( USD Billion )
  7. Global Outdoor Lighting Market By Region, From 2021-2026 ( USD Billion )
  8. Global Commercial Lighting Market By End-User, From 2021-2026 ( USD Billion )
  9. Global Industrial Market By Region, From 2021-2026 ( USD Billion )
  10. Global Commercial Market By Region, From 2021-2026 ( USD Billion )

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