Industrial Lighting Market SARS-CoV-2, Covid-19 Analysis: Global Industry Analysis and Opportunity Assessment, Forecast to 2023

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

A work environment that is comfortable is crucial to optimize the productivity of workers, and also improve the quantity and quality of output. In fact, lighting plays an imperative part to create such an environment. After all, good light makes a workplace less tiring and safer meaning lower fault, lower reject levels, fewer accidents and most importantly better overall productivity. Any workplace that is well-lit means happier employees that appreciate the space where they work. Industrial lighting include bulbs and lighting fixtures used in offices, factories, warehouses, industry buildings, chemical plants, refineries, mines and electronics assembly plants. The global industrial lighting market is anticipated to have a significant growth at a stellar 8% CAGR over the assessment period (2017-2023).

Leading players profiled in the industrial lighting market include Osram Licht AG (Germany), Zumtobel Group (Austria), General Electric (US), Hubbell Lighting, Inc. (US), Philips Lighting Holding B.V. (Netherlands), Cree, Inc. (US), TOYODA GOSEI Co., Ltd (Japan), Acuity Brands Lighting, Inc. (US), Legrand (France), and Emerson Electric (US).

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There are plentiful factors that are propelling the growth of the industrial lighting market. Some of these factors according to the Market Research Future (MRFR) report include burgeoning demand in various industrial sectors for lighting systems that are energy-efficient, reduced heat losses, lower operational cost, price reduction in LED lights, favorable regulations laid down by the government on energy consumption and conventional lighting, and growing urbanization. The additional factors that are contributing to the growth of the market include rising population, increasing income, infrastructural development, and increasing modernization. On the contrary, issues associated to soaring costs of implementation may hinder the growth of the industrial lighting market over the assessment period.

Market Segmentation

MRFR report provides a complete segmental analysis of the industrial lighting market on the basis of light source, products and applications.

Based on light source, it is segmented into halogen, compact fluorescent lamp (CFL), incandescent, high-intensity discharge, fluorescent, LED and others. Of these, LED lights will have a major share in the market over the assessment period owing to its alluring features. These include reduced power consumption, minimum carbon emission amid others. Thus subsidies are being rolled-out by the government to promote the use of LEDs amid consumers.

Based on products, the industrial lighting market is segmented into task lighting, accent lighting, industrial hanging lights, industrial look lighting, vintage industrial lighting, industrial wall lights and others.

Based on applications, it is segmented into warehouses, hazardous locations, parking areas, outer premises, hotels and restaurants, factory and production lines and others. Of these, warehouses will dominate the market over the assessment period.

Regional Analysis

Based on region, the industrial lighting market covers latest trends and growth opportunities across Asia Pacific, North America, Rest of the World and Europe. Of these, North America will have a mammoth share in the market over the assessment period. This region has witnessed a couple of developments that is propelling the market growth here. Besides, constant governmental support and initiatives to market players to cut down market emission is again driving the market growth. The other growth factors include burgeoning need for LED lights, investments made by companies to manufacture various industrial light products such as recessed fixtures, wall lighting, post lanterns, hanging fixtures, task lighting spotlights, accent lighting and others and also expansion of product range by leading industrial lighting manufacturers. The industrial lighting market in Europe will witness a boom due to standardized industrialization and widespread urbanization. The increasing use of LED lights improved the quality of the industrial lighting that is again boosting market growth. The industrial lighting market in the APAC region is in the developmental stage with industries here still growing. It is also home to emerging economies mainly China and India that are fighting issues of hazardous pollution. Using LED lights will work wonders in cutting down the levels of carbon monoxide as well as accelerating the regional market growth.

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