Lighting Contactor Market Research Report- Forecast till 2030

Lighting Contactor Market Research Report: Information by Type (Electrically and Mechanically held), Installation (Indoor & Outdoor), End-User and Regions (North America, Europe, Asia-Pacific, Middle East & Africa, & South America) - Forecast till 2030

ID: MRFR/E&P/5502-HCR | November 2022 | Region: Global | 111 Pages         

Lighting Contactor Market

Lighting Contactor Market is expected to be valued at USD 1,111.0 Million, with a CAGR of 8.25% Forecast by 2027

Segmentation

By Type Electrically Mechanically held
By Installation Indoor Outdoor

Key Players

  • Siemens AG (Germany)
  • Rockwell Automation (US)
  • ABB Ltd (Switzerland)
  • Schneider Electric SE (France)
  • Legrand (France)
  • Eaton (Ireland)
  • Acuity (US)
  • Sprecher Schuh (US)
  • Hager (Germany)
  • Federal Electric (US)

Drivers

  • Reduced energy consumption and savings in cost
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Lighting Contactor Market Scenario


Lighting Contactor market is expected to grow at 8.25% CAGR during the forecast period.


The global lighting contactor market is expected to grow rapidly over the next few years, owing to the rising demand for energy efficiency and the implementation of IoT in lighting control systems. Governments all over the world have devised enticing incentives to encourage the use of energy-efficient technology, fueling the market's global expansion. The European region aims to save 20% of its energy. North America is the second-largest market, with lighting contactor systems accounting for a considerable portion of the overall lighting control system, particularly in the United States. A lighting contactor is a device that switches an electrical power circuit both electrically and mechanically.


Feeder disconnect type 2, type 3, and 4-pole lighting contactors rated up to 2,250 amperes are the three primary kinds of lighting contactors. For individual branch circuits or lighting control, these contactors are utilized to regulate big blocks of load with low-voltage control. Furthermore, the worldwide lighting contactor market is expected to increase significantly, owing mostly to the developed economies. Energy efficiency has become a primary driver of the global lighting contactor market's expansion. Furthermore, governments all around the world are adopting legislation to encourage the use of energy-efficient gadgets because of the benefits they provide, such as lower energy usage and cost savings.


Global Lighting Contactor market is expected to witness substantial growth during the forecast period, as the systems are mainly based on increasing need for energy efficiency. European region targets 20% energy savings target by 2020. North America is the second largest market, with lighting contactor system accounting for a significant share in the entire lighitng control system, especially in the US. It has been estimated that Asia-Pacific region will grow at the highest rate during the forecast period.   


The key players of global turboexpanders market are -


Siemens AG (Germany), Rockwell Automation (US), ABB Ltd (Switzerland), Schneider Electric SE (France), Legrand (France), Eaton (Ireland), Acuity (US), Sprecher Schuh (US), Hager (Germany), and Federal Electric (US).


Industry News



  • PR Lighting has announced the release of their newest beam intelligent light in Lighting Contactor, the XR 580 Beam, in March 2019. It is said to include PHILIPS MSD Platinum 25R 550W with 100V 240VAC, according to the firm. The light's head can pan 540 degrees and tilt 270 degrees with auto position correction.

  • In August 2019, LG Innotek announced the development of Nexlide-HD (High Definition), a flexible three-dimensional lighting system for automobiles that delivers brilliant, homogeneous light from five directions.


Lighting contactor is an electrically as well as mechanically operated device used for switching an electrical power circuit. Lighting contactors can be divided in three broad categories, namely, feeder disconnect type 2, type 3, and 4-pole lighting contactors rated up to 2,250 amperes. These contactors are used to control large blocks of load with low-voltage control for individual branch circuit or lighting control. Moreover, it is estimated that there will be a substantial growth of the global lighting contactor market mostly because of the developed economies.


Energy-efficiency has become the major driver for the growth of the global lighting contactor market. Additionally, governments around the globe are developing policies to encourage the use of energy-efficient devices, due to their benefits including reduced energy consumption and savings in cost. According to International Energy Efficiency (IEA), global energy demand rose by 1.9% in 2017 led by strong economic growth, ultimately driving energy efficiency.


Indoor segment is becoming popular with users as there is increasing need for proper lighting control system in commercial, residential, and industrial applications.  Outdoor installation is usually preferred in the open areas mainly available in developing nations. A major advantage of outdoor lighting contactor is its simple design and construction featuring a controller. The outdoor lighting contactor are comparatively low-cost solutions for outdoor lighting. A major disadvantage of outdoor lighting contactor is a space constraint. In most of the developed economies, space can be a big hindrance compelling the end-users to go for indoor lighting contactors.


Global Market Segmentation Lighting Contactor Market


Global lighting contactor market has been segmented based on type, installation, end- user, and region. Based on type, the market is classified into indoor and outdoor. Indoor segment is leading the market and has the largest market share, mainly due to increasing need for proper lighting control system in commercial, residential, and industrial applications. Based on type, the market is segmented into electrically and mechanically held. Electrically held segment dominates the market as these contactors operate quietly and consume less energy. The global market of lighting contactor is further segmented based on end-user, including residential, industrial, commercial, and other segments. Commercial and industrial segments of the global market are estimated to register the highest market share during the forecast period.


The global lighting contactor market is projected to grow at a high rate during the forecast period, mainly due to the growing demand for energy efficiency and adoption of IoT in lighting control system. Governments around the world have developed attractive incentives, rewarding the use of energy-efficient equipment, which further drives the growth of the market, globally.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   8.25% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Installation, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Siemens AG (Germany), Rockwell Automation (US), ABB Ltd (Switzerland), Schneider Electric SE (France), Legrand (France), Eaton (Ireland), Acuity (US), Sprecher Schuh (US), Hager (Germany), and Federal Electric (US)
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   Reduced energy consumption and savings in cost


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Frequently Asked Questions (FAQ) :

The market is expected to achieve a growth rate of more than 8% in the following years.

The market value by 2023 is expected to increase significantly, based on a number of factors and prevailing trends that can induce massive growth in the near future.

The most significant players in the global market for lighting contactor are Acuity (US), Sprecher Schuh (US), Federal Electric (US), Siemens AG (Germany), ABB Ltd (Switzerland), Hager (Germany), Rockwell Automation (US), Legrand (France), Schneider Electric SE (France), Eaton (Ireland), to name a few.

The indoor type of installation has gained high popularity in the market, given the rising need for proper lighting control system in residential, industrial and commercial applications.

The primary types of lighting contactor considered in the report are electrically held as well as mechanically held.