Industrial Lighting Market will develop to USD 5,412.26 million in 2028 from USD 4,206.7 million in 2023 with registering a CAGR of 4.5% over the period of 2023-2028.
Industrial lighting systems are interdependent & interrelated group of lighting fixtures, which are controlled and worked together for performed a cohesive function. Several industries have huge call for the lights, such as incandescent, halogen, linear fluorescent lamps (LFL), high-intensity discharge lamps (HID), compact fluorescent lamps (CFL), light-emitting diode (LED) and organic light-emitting diode (OLED). These are further divided into various sub-technologies like metal halide, high-pressure sodium, and cold cathode fluorescent lamps (CCFL). Different industries have various specified lighting technologies that are differentiated from particular task lighting to varying levels of lighting. Moreover, these specifications of lighting are also separated on the basis of the cost and the color that was rendered by light. Additionally, retrofitting of the lighting systems is involved to reuse the old fixtures, as they are limited only to ballast & lamp improvements.
Industrial Lighting Market Recent Developments
Schneider Electric, a European multinational company that provides solutions in energy and automation digital that are for efficiency & sustainability, has announced that it has expanded the partnership with AVEVA for delivering innovative solutions for the data center market.
Emerson Electric Co., an American multinational corporation that manufactures the products and provides the engineering services for a wide range of commercial, industrial, and consumer markets, has announced that they are planning to invest more than $100 million for expanding their operations in manufacturing & to establish an innovation center in Boulder, Colorado.
Growing initiatives regarding the adoption of LED, by the government, is the major factor that was driving the growth of the Global Industrial Lighting Market. Moreover, the rising requirement of LED lighting that is cost-effective & energy-saving and the growing offerings of these lightings with the features like durability, less consumption of energy by LEDs are further fuelling the growth of the target market, all over the world.However, the requirement of high capitals at the initial level and the involvement of high complexities are the major restraints of the Global Industrial Lighting Market. In addition, the lack of standardization of the industrial lightning industries is another factor that was hampering the growth of the target market.Nonetheless, increasing advancements and modernization in the infrastructure of the industrial lighting are creating opportunities for the expansion of the players in the Global Industrial Lighting Market.
Based on the source
LED Lighting
High-Intensity Discharge (HID) Lighting
Fluorescent Lighting
based on the type
Lamps & Luminaires
Control Systems
Services
On the type
New Installation,
Replacement Installation
Retrofit Installation
In the product outlook, the global Industrial Lighting market is segmented as Industrial Wall Lights, Vintage Industrial Lighting, Industrial Look Lighting, Industrial Hanging Lights, Accent Lighting, Task Lighting, and Others.
Based on the applications
Warehouse & Cold Storage
Factory & Production Lines
Outer Premises
Parking Areas
Hazardous Locations
North America
Europe
Asia-Pacific
South America
Middle East & Africa
In the regional analysis of the Global Industrial Lighting Market, Asia-Pacific's market is the one that held the significant share of the global market, in the revenue aspect. Majorly, emerging economies in this region, such as India and China, are contributing most of the regional market and boosting the growth rate of the market in this region. The presence of a robust industrial belt that was continuously upgrading their technologies in various sectors is the major factor that was driving the growth of the Industrial Lighting Market in this region.
The North America Industrial Lighting Market is the second-largest regionain the global market's revenue. In the region, the US is the major contributor to the regional market's growth owing to the growing implementations of power-saving measures by the government and the presence of the manufacturers. And the European regional industrial lighting market is expected to grow in a significant way over the forecast period. The major factor that supported the growth of the target market in Europe is the continuous growth of industrialized warehouses and storage in the region. It is also estimated that the European regional industrial lighting market is going to register the second-highest growth rate when compared to others.
Emerson Electric Co.
Signify Holding.
General Electric Company
Schneider Electric
Acuity Brands Lighting, Inc.
Hubbell
Legrand.
Ushio America, Inc.
Litetronics International, Inc.
Cree Lighting.
Lg Innotek.
Leviton Manufacturing Co., Inc.
Zumtobel Group AG
Eaton
Dialight.
Advanced Lighting Technologies, LLC
Aixtron
Osram Sylvania Inc
Toyoda Gosei Co., Ltd.
Digital Lumens, Inc.
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