Industrial Lighting Market Is Expected to Reach USD 13 Billion By 2023 | Emerson Electric, Legrand, Acuity Brands, TOYODA GOSEI, Cree, Philips Lighting, Hubbell and General

Industrial Lighting Market is growing rapidly over 8% of CAGR and is expected to reach at $13 Billion by the end of forecast period to 2018-2023. Global Industrial Lighting Market, Light Source Type (LED, Fluorescent, High Intensity Discharge, Incandescent), By Products (Industrial Wall Lights, Vintage Industrial Lighting, Industrial Look Lighting, Industrial Hanging Light, Task Lighting, Accent Lighting), By Applications- Forecast 2023

Key Players:

Market Research Future (MRFR) recognizes the following companies as the key 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.

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Market Highlights:

The industrial lighting market is growing rapidly across the world. The advancement in LED lighting is highly energy efficient, high illuminations and less consumptions of energy. These industrial lighting are producing approximately 10% light and rest 90% of energy gets released in form of heat. It is estimated that LEDs uses in the industrial purpose, could save about 148 TWh which is high energy saving in the coming years. The LED can last much longer than other light, which is widely used for the industrial lighting.

The fluorescent lighting demand is growing rapidly as it is widely used in the large indoor areas of commercial or industrial buildings. The advancements in ballast technology is driving the market growth as it reduces energy saving of upto 50%. These technologies has advantage of controlling the amount of light produced in the large space area. These ballast is used in HID, LED and other lighting source as well. The new ballast has come up with many others features such as economic savings, power reduction codes and energy efficiency requirements.

According to Market Research Future analysis, global industrial lighting market has been valued at USD 13 Billion by the end of forecast period with 8% of CAGR during forecast period 2017 to 2023.

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 includes industrial wall lights, vintage industrial lighting, industrial look lighting, industrial hanging light, task lighting, accent lighting and others. The applications includes 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.

Market Research Analysis:

On geographic basis, global Industrial Lighting market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share growth in the industrial lighting market due to the major companies are investing for the production of these lights for the industrial purposes. In this market, Europe is to be estimated to be the second largest market share for industrial lighting during the forecast period.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:

By application segment, the industrial lighting market is driven by advanced industrial lighting which is durable, low cost, long lasting, low energy consumption and convenient to use in the application such as factory & production lines, hotels & restaurants, outer premises, parking areas, hazardous locations, warehouses and others. The recent growth in the popularity of LED lighting has attracted many new suppliers and distributors into the field of production of more advanced lights.

By Region, MRFR analysis shows that the comprehensive understanding of market dynamics, the global industrial lighting market is analyzed across key geographies namely North America, Europe, China, Japan, India and among others. These lighting can be used for the industrial purpose such as area lighting, flood lighting, emergency lighting, visual signal lighting, and others which is widely used in the industrial lighting market in North America region. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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The global industrial lighting market are bifurcated into type, light source type, product, applications, and region. The light source type includes LED, fluorescent, high intensity discharge, incandescent, CFL, halogen and others. The products includes industrial wall lights, vintage industrial lighting, industrial look lighting, industrial hanging light, task lighting, accent lighting and others. The applications includes 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.

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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