Lighting Contactor Market Evolving Technology, Trends and Industry Analysis & Forecast to 2024

Factors trending in the global lighting contactor market include the introduction of regulations by governments across the world for promoting energy-efficient lighting systems and the increasing rate of automation for power monitoring in commercial complexes, residential buildings, and government premises. Furthermore, growing government spending on smart city projects, which involve the use of lighting solutions such as contactors, has been identified as a major trend in the market.

Lighting contactors are relay switches that are electrically or mechanically controlled and are mainly used for controlling lights with frequent on-and-off operations. These devices can control circuits with higher voltages, which can, otherwise, be hazardous if controlled directly. A contactor switch runs at a lower but safer load and controls the high voltage/current circuit using an electromagnet. It is also used to meet lighting efficiency standards required by different government regulations.

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The lighting contactor market is also categorized into indoor and outdoor applications. Of these, the indoor category accounted for a significant market share during the historical period and is expected to register higher CAGR during the forecast period owing to the increasing consumer awareness on energy conservation and the growing need to adhere to environmental/energy regulations in commercial offices, smart residential complexes, and industrial areas. Outdoor lighting contactors, on the other hand, are intended for places where the possibility of rainfall, sleet, or external ice formations is high.

On the basis of end user, the lighting contactor market is classified into four categories: residential, commercial, industrial, and municipal. Among these, the commercial category held the largest share in the market during the historical years, owing to the increased awareness on energy-efficient lighting solutions, which propelled the demand for these devices among these end users. Furthermore, the rising adoption of the internet of things (IoT) technology in the lighting industry, increasing demand for smart control systems, and growing need of energy-efficient lighting solutions are fueling the demand for these contactors among the commercial end users.

The lighting contactor market is being driven by the high deployment of these contactors for energy-efficient and automated lighting systems in commercial complexes and smart homes. Complete phasing out of old lighting systems in developing economies is also acting as a driver for the lighting contactor industry. Furthermore, expanding consumer base complemented by increasing awareness about these devices is propelling the market demand.

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One of the major factors hindering the growth of the lighting contactor market is the high initial cost of these devices. This is the reason these devices are largely being used in developed countries, where the per capita income is higher as compared to developing countries. Thus, the adoption of these contactors is affected to some extent among commercial and industrial consumers in developing countries. Furthermore, limited awareness about the long-term benefits of these contactors is restraining the lighting contactor industry growth.

Some of the major companies operating in the global lighting contactor market are ABB Ltd., Siemens AG, Acuity Brands Lighting Inc., Legrand, Rockwell Automation Inc., Schneider Electric SE, Eaton Corporation, Ripley Lighting Controls, Federal Electric, and Sprecher + Schuh.

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