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Industrial Lighting Market (Type - High-intensity Discharge, LED, Fluorescent, and Incandescent; Product - Vintage Industrial Lighting, Industrial Wall Lights, Industrial Hanging Light, Task Lighting, Industrial Look Lighting, and Accent Lighting; Application - Hotels and Restaurants, Factory and Production Lines, Parking Area, Outer Premises, Warehouse, Hazardous Locations, and Other Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2020

  • Rep Id : IA0089

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on industrial lighting market provides in-depth analysis of segments and sub-segments in the global as well as regional industrial lighting market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial lighting market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global industrial lighting market. According to the report, the global industrial lighting market is projected to grow at a CAGR of 4.7% over the forecast period of 2020-2026.

 

Market Insight

Industrial lighting plays a vital role in manufacturing environments such as chemical plants, factories, and refineries. It helps in spotting or identifying hazards, and other dangerous conditions. It makes manufacturing employees perform their work more accurately. The preference for decorative lighting in hotels and restaurants is a prevailing trend nowadays. New lighting technologies offer better energy usage, performance, and maintenance.

 

The growing demand for energy-efficient lighting systems across different industrial sectors will augment the growth of the industrial lighting market. The availability of a broad range of lighting products at competitive prices drives the expansion of the industrial lighting market. Additionally, price reduction in LEDs led to the growing adoption of LED lighting products. Favorable government regulations with respect to conventional lighting and energy consumption propel the growth of the industrial lighting market. Further, rapid industrialization worldwide promotes the growth of the industrial lighting market. The growing population, surge in income, and swift urbanization stimulates the expansion of the industrial lighting market. In addition, proliferating concerns about the insufficiency of resources along with climate changes are one the major contributor to the growth of the market. Industries are focusing on cost savings and energy conservation plans LED to the adoption of huge energy optimization opportunities.

 

Furthermore, proper industrial lighting helps in maintain process productivity. Reduction in overall industrial expenditure fuels the market growth. Industrial lighting plays a major role in enhancing working conditions that optimize labor costs as well as improves overall manufacturing performance and enhances customer satisfaction. On the flip side, the initial cost to integrate the manufacturing plant for the lighting system is high that hinders the growth of the industrial lighting market. Moreover, the development of new lighting technologies creates several opportunities for the growth of the industrial lighting market.

 

Geographically, the global industrial lighting market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is expected to have a prominent share in the global industrial lighting market. The growing number of infrastructural building projects in the Asia-Pacific region promotes the market growth in the region. Europe is anticipated to grow in the global industrial lighting market with a significant CAGR over the forecast period. The surge in the number of industrialized warehouses and storage in European countries promote market growth in the region. North America has fruitful growth opportunities in the global industrial lighting market. The rising investments in the manufacturing of various types of industrial light products such as task lighting spotlights, accent lighting, post lanterns, wall lighting, recessed fixtures, and others in North America LED to the growth of the industrial lighting market.

 

Segment Covered

The report on global industrial lighting market covers segments such as type, product, and application. On the basis of type, the sub-markets include high-intensity discharge, LED, fluorescent, and incandescent. On the basis of product, the sub-markets include vintage industrial lighting, industrial wall lights, industrial hanging light, task lighting, industrial look lighting, and accent lighting. On the basis of application, the sub-markets include hotels and restaurants, factory and production lines, parking area, outer premises, warehouse, hazardous locations, and other applications.

 

Companies Profiled:

The report provides profiles of the companies in the market such as TOYODA GOSEI Co. Ltd., Cree Inc., Emerson Electric Co., Legrand, Acuity Brands Lighting Inc., Signify Holding B.V., Hubbell Lighting Inc., General Electric Co, Zumtobel Group, Osram Licht AG, and other companies.

 

Report Highlights:

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 industrial lighting market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. 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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