Press release
Industrial Lighting Market Size 2022, Top Companies Analysis, Share, Trends, Business Model and Forecast by 2027
The latest research study "Industrial Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global industrial lighting market size reached US$ 8.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.43 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.COVID-19 Impact on Market: (Positive Impact)
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Industry Definition and Application:
Industrial lighting represents a lighting system that is generally found in the manufacturing environment for providing ample illumination to spot or identify hazards. It is commercially available in varying types, such as high-intensity discharge (HID), light-emitting diode (LED), and halogen lighting. Industrial lighting is heat-resistant, flexible, and inhibits ultraviolet (UV) radiation. In line with this, it has the ability to withstand frequent switching while consuming minimal energy as this system is energy-efficient. Consequently, industrial lighting finds extensive applications in various industries, such as automotive, oil and gas, pharmaceuticals, etc.
Global Industrial Lighting Market Trends and Drivers:
The inflating need for energy-efficient solutions is primarily driving the industrial lighting market. Additionally, the launch of favorable policies by government bodies across countries to promote the use of light-emitting diode (LED) industrial lighting in the commercial sector, owing to the growing consumer awareness towards its several beneficial properties, is further catalyzing the market growth. Besides this, numerous technological advancements and the rising integration of the Internet of Things (IoT), remote-controlled, and Wi-Fi-controlled lighting are acting as significant growth-inducing factors.
Moreover, the widespread adoption of industrial lighting in cold storage, warehouses, production lines, and parking areas to ensure safety and security is also positively influencing the global market. Apart from this, the introduction of new light illuminating systems, including fluorescent and high-intensity discharge (HID), for improving longevity, optimizing energy efficiency, maintaining costs by delivering a shorter return on investments (ROI), etc., is anticipated to fuel the industrial lighting market over the forecasted period.
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Global Industrial Lighting Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
Acuity Brands Inc., Bajaj Electricals Ltd. (Bajaj Group), Dialight plc, Eaton Corporation PLC, Elba SA, Emerson Electric Co., GE Current a Daintree Company, LSI Industries Inc., OSRAM Opto Semiconductors GmbH (OSRAM GmbH), Panasonic Corporation, Wipro Lighting and Zumtobel Group.
The report has segmented the market on the basis of region, product type, light source, offering, type and application.
Breakup by Product Type:
• High/Low Bay Lighting
• Flood/Area Lighting
Breakup by Light Source:
• LED
• High-Intensity Discharge (HID) Lighting
• Fluorescent Lighting
Breakup by Offering:
• Lamps & Luminaries
• Control Systems
• Services
Breakup by Type:
• New Installation
• Replacement Installation
• Retrofit Installation
Breakup by Application:
• Warehouse & Cold Storage
• Factory & Production Lines
• Outer Premises
• Parking Areas
• Hazardous Locations
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Contact Us:
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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