A recent report published by Infinium Global Research on lighting contactor market provides an in-depth analysis of segments and sub-segments in the global as well as regional lighting contactor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional lighting contactor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global lighting contactor market. According to the report, the global lighting contactor market is projected to grow at a CAGR of 8.1% over the forecast period of 2019-2025.
Lighting contactors are used in commercial and industrial applications for controlling large lighting loads and motors. It is reliable as well as not infallible like any devices. Lighting contactors exist remotely and control circuits with higher voltages that can be dangerous to the operator are controlled directly. It operates at a lower but safer load and controls the high voltage/current circuit using an electromagnet.
The rise in the use of lighting contactors from commercial, municipal, industrial, smart residential complex and electronics sector is the major growth factor of the lighting contactor market. Furthermore, factors such as increasing adoption of energy-efficient lighting, low manufacturing cost, and increasing demand for lightweight products are also driving the growth of the market. Lighting contactors are used to control the flow of electricity in the circuit that is used to power the lighting in the given area. Increasing adoption of the internet of thing (IoT) in the lighting industry is fueling the growth of the market. The government bodies across the globe are aggressively developing policies to encourage the use of energy-efficient devices, due to their benefits such as reduced energy consumption and savings in cost. However, high installation cost and lack of standard regulatory framework are hindering the growth of the market. Moreover, the development of smart cities is expected to provide wide opportunities for market players.
Geographically, Europe dominates the large market share of the lighting contactor market due to green city projects that are being brought into the attentiveness over energy efficiency in most of the EU countries. The demand for lighting contactor is increasing in this region owing to the presence of historical buildings, architectural sites, and hospitality businesses in this region. North America is the second largest market for lighting contactor, with lighting contactor system accounting for a significant share in the entire lighting control system, especially in the US.
The report on global lighting contactor market covers segments such as type, applications, and end-user. On the basis of type, the sub-markets include electrically held, and mechanically held. On the basis of applications, the sub-markets include indoor, and outdoor. On the basis of end-user, the sub-markets include commercial, municipal (public), industrial, and smart residential complexes.
The report provides profiles of the companies in the market such as ABB, Rockwell Automation, General Electric, Schneider Electric, Danfoss, Siemens AG, Hager Group, Eaton Corporation Inc., NSI Industries, Legrand, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of lighting contactor market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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