Specialty Lighting Market Will Reach USD 8,746.1 Million by 2030

The specialty lighting market value will reach USD 8,746.1 million by 2030 from USD 5,590.2 million in 2022, at a 5.8% CAGR. This development can be attributed to the growing need for advanced lighting solutions throughout the medical, entertainment, and other industries, for special drives. For example, UV lights are majorly utilized for the disinfection of air, surface, and water.

Furthermore, the fast development witnessed in the entertainment sector along with a rapid rise in the count of worldwide events, such as music concerts, is projected to boost the demand for specialty lights.

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In 2022, on the bases of light sources, the LED category generated the largest revenue share,
of above 70%. This is mainly because of its cost-saving, less heating, and longer life characteristics, and the increasing knowledge among consumers regarding the benefits of shifting toward dependable and power-efficient items from previously utilized incandescent lamps.

Additionally, LEDs are utilized in every section, such as decorative, architectural, and luminescence. Also, these are more suitable and versatile for numerous fixture designs making patterns and colors.

In the coming few years, the UV lamp category is projected to experience the fastest development, progressing at a CAGR of approximately 7%. This can be ascribed to the application of UV lights for cleansing water, air, and surfaces. The requirement for water refinement throughout the globe is increasing, credited to the growing recycling of wastewater and reducing water sources.

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Governments are taking many steps for the growth of metropolises and the enhancement of present infrastructure and the upkeep of energy and rationalization of operations. The growth of smart cities fuels the industry due to the acceptance of progressive technologies and development in lighting solutions.

As per the government websites, around 75% of power throughout the globe is used by cities. Therefore, constant improvements in the infrastructure of metropolises have further augmented the demand for specialty lighting solutions.

In 2022, North America led the industry with the largest revenue share in the specialty lighting market, and the continent is also projected to hold the dominating position with a worth of approximately USD 4 billion by 2030. This is mainly because of the presence of main firms providing advanced lights in numerous areas, such as horticulture, entertainment, seaports, medicine, sports, water treatment, and aquariums.

Furthermore, end-use industries are growing swiftly, which is further boosting the demand for special lights throughout the continent. For example, a robust healthcare system in Canada and the U.S. contributes to the augmented acceptance of examination and surgical lights.

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The research offers the size of the specialty lighting market for the period 2017-2030.

Market Segmentation by Light Source

LED
Halogen
Xenon
Incandescent
Others
Market Segmentation by Application

Entertainment
Medical
Others
Market Segmentation by Region

North America Specialty Lighting Market
By light source
By application
By country - U.S. and Canada
Europe Specialty Lighting Market
By light source
By application
By country - Germany, U.K., France, Italy, Spain, and Rest of Europe
Asia-Pacific (APAC) Specialty Lighting Market
By light source
By application
By country - Japan, China, India, South Korea, Australia, and Rest of APAC
Latin America (LATAM) Specialty Lighting Market
By light source
By application
By country - Brazil, Mexico, and Rest of LATAM
Middle East and Africa (MEA) Specialty Lighting Market
By light source
By application
By country - Saudi Arabia, South Africa, U.A.E., and Rest of MEA

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