Lighting Contactor Market Research Report- Forecast till 2032

Lighting Contactor Market Research Report Information By Type (Electrically and Mechanically Held), By Installation (Indoor & Outdoor), By End-User (Residential, Industrial, Commercial, and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/E&P/5502-HCR | 111 Pages | Author: Anshula Mandaokar | March 2024         

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Global Lighting Contactor Market Overview:

Lighting Contactor Market Size was valued at USD 0.6 Billion in 2022. The Lighting Contactor market industry is projected to grow from USD 0.64 Billion in 2023 to USD 1.22 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.25% during the forecast period (2023 - 2032). The growing demand for energy conservation, as well as the incorporation of IoT into lighting control systems are the key market drivers enhancing the market growth.

Lighting Contactor Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Lighting Contactor Market Trends

  • Growing use of lighting is driving the market growth

Market CAGR for lighting contactor is being driven by the rising use of lighting. According to the Australian Government's Department of Climate Change, Energy, Environment, and Water, replacing ten halogen lights with LEDs can save up to US$650 in power costs over ten years. Furthermore, the 'Street Light National Programme (SLNP)' of the Government of India is the world's largest streetlight replacement program, with over 1.3 million smart LED lights installed by 2020. Over the projection period, such government measures will enhance lighting installation and, as a result, demand for lighting contractors. The rise in demand for switch lighting systems in outdoor applications, such as streetlights; an increase in infrastructure needs in emerging economies; an increase in urbanization; a surge in wireless technology acceptance; and continuous technological advancements are among the major factors driving the lighting contactor market's expansion.

Governments and business sector organizations are working to create electrical gadgets that will boost energy savings. Promoting energy-efficient gadgets and replacing obsolete lighting systems with new technology is more crucial for long-term growth than energy production. Furthermore, government laws have played an important role in Smart lights may be installed in existing outlets and controlled via a cell phone. These lights react to movement, voice instructions, and location. Smart switches can turn on and off lights, but smart dimmers can control light brightness levels. People are gravitating towards smart homes as their disposable incomes rise. More than 35% of US households have smart homes. A smart house contains electronic devices, such as lighting, that operate via the internet, sensors, hand gestures, or voice commands. Smart lighting solutions are provided by companies such as Schréder, General Electric Company, and Cree, Inc. These businesses' strategic actions, such as product releases and geographical expansions, are contributing to the growth of the lighting contractor market. The market for lighting contactors has been primarily driven by energy efficiency.

Furthermore, governments worldwide are enacting regulations to encourage the adoption of energy-efficient devices due to their benefits, such as reduced energy usage and cost savings. According to the International Energy Agency (IEA), energy consumption will rise by 1.9 percent in 2022 due to robust economic growth, driving energy efficiency. Furthermore, the lighting contractor market will likely grow shortly due to the increasing adoption of new technologies, such as the Internet of Things in lighting contractors. Thus, driving the Lighting Contactor market revenue.

Lighting Contactor Market Segment Insights:

Lighting Contactor Type Insights

Based on type, the Lighting Contactor market segmentation includes electrically and mechanically held. The mechanically held segment dominated the market, accounting for 67% of market revenue. The demand for energy efficiency has boosted the adoption of laws to encourage using energy-efficient devices that provide reduced energy consumption and cost efficiency, which will likely enhance market growth for the electrically held category.

Lighting Contactor Installation Insights

Based on the installation, the Lighting Contactor market segmentation includes indoor & outdoor. The indoor segment dominated the market. This expansion can be due to expanding consumer knowledge about energy saving and the increasing requirement to comply with energy/environmental standards in smart residential complexes, business workplaces, and industrial locations.

Lighting Contactor End User Insights

Based on End Users, the Lighting Contactor market segmentation includes residential, industrial, commercial, and others. The commercial generated the most income (70.4%). The rising awareness of energy-efficient lighting solutions has increased demand for these devices among these end customers. Furthermore, increased usage of Internet of Things (IoT) technologies in the lighting sector and the need for smart control systems and energy-efficient lighting solutions are increasing demand for these contractors among commercial end-users.

Figure 1: Lighting Contactor Market, by End User, 2022 & 2032 (USD Billion)

Lighting Contactor Market, by End User

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Lighting Contactor Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Lighting Contactor market area will dominate this market; the use of IoT for streetlight monitoring and control is growing. Many communities are attempting to install smart streetlights, and some in North America have already begun implementing smart lighting systems. Governments can choose from various smart street lighting control systems and streetlight remote control software solutions to construct linked street lighting infrastructures when replacing an old system with a new one. Contactors are integrated with the lamp driver and power cabinets in such lighting systems.

Further, the major countries studied in the market report are The US, Canada, Italy, Spain, German, France, the UK, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Lighting Contactor Market Share By Region 2022 (USD Billion)

Lighting Contactor Market Share By Region

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe has the second-largest market share for Lighting Contactor. Increased light-use owing to urbanization throughout Europe encourages many companies to maximize their capacities and invest in technological breakthroughs for IoT integration in lighting goods. The industrial sector is investing in lighting systems to increase energy efficiency. As a result, lighting contractor manufacturers have adopted and innovated solutions to meet environmental regulations. Furthermore, the German Lighting Contactor market dominated, while the UK Lighting Contactor market grew fastest in Europe.

From 2023 to 2032, the Asia-Pacific Lighting Contactor Market will develop quickly because of developing economies such as India and China. These nations play critical roles in many industrial verticals and are investing heavily in energy security, which supports the growth of the lighting contractor market. Furthermore, China's Lighting Contactor market had the highest market share, while India's Lighting Contactor market was the fastest expanding in the Asia-Pacific region.

Lighting Contactor Key Market Players & Competitive Insights

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Lighting Contactor market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Lighting Contactor industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Lighting Contactor industry to serve clients and expand the market sector. The Lighting Contactor industry has provided some of the most important benefits recently.  Agnetix and other major competitors in the Lighting Contactor market are seeking to improve market demand by investing in R&D efforts.

The Agnetix Water-Cooled LED Horticulture System is the most powerful and efficient lighting system on the market. Its one-of-a-kind design increases operating efficiency and yields. The Agnetix A3 light has full-spectrum LED modules and smart light settings. Agnetix delivers the most powerful and efficient system for horticulture and cannabis crops, with up to 4000 PPFD and an effectiveness of 3.23 PAR umol/J.  The A3 is designed to be the facility's backbone, with adaptable USB and Power over Ethernet connectors and an open platform for simple integration of modern sensors and cameras. Agnetix Sensors complements the A3 system with the most recent advances in environmental sensor technolog. In April 2021, Zenith, a horticulture lighting series with built-in sensor and image technology, was introduced by Agnetix. This lighting series is reported to be the first to use plant health sensors in a horticulture light. It also includes photos.

TE Connectivity is a worldwide industrial technology manufacturing company dedicated to making the future safer, more sustainable, productive, and connected. Their extensive portfolio of connection and sensor solutions, tested in the toughest conditions, enables improvements in transportation, industrial applications, medical technology, data communications,energy, and the home. Electric cars, aeroplanes, digital factories, and smart home solutions. Life-saving medical treatment, sustainable communities, efficient utility networks, and communications infrastructure are all enabled through innovation. For over 75 years, they have collaborated with clients to develop highly designed connection and sensing technologies that enable a connected world. Their emphasis on dependability and durability, their dedication to advancement, and the unrivaled breadth of their product portfolio enable organizations large and small to translate ideas into technology that will change how the world works and lives in the future. In June 2021, TE Connectivity introduced a tiny yet strong high-voltage contactor with latching coils and low power consumption for defense, marine, commercial, and military aerospace applications.

Key Companies in the Lighting Contactor market include

  • 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).

Lighting Contactor Industry Developments

August 2022:Dutch municipalities chose inteliLIGHT's ZHAGA NB-IoT smart lighting controllers to enhance their smart city infrastructure. To achieve net-zero emissions by 2050, most European countries, particularly the United Kingdom, focus on sustainable lighting options such as halogen incandescent lights, compact fluorescent lamps (CFL), and light-emitting diodes (LED) instead of conventional lights.

March 2022:Sunricher collaborated with Prince Bay to install smart lighting in Shenzhen's Central Business District CBD urban apartments.

January 2022:Mila has established a partnership with LEDVANCE. Mila employs approximately 10,000 experts in Switzerland, Germany, Austria, France, and the United Kingdom, and they will serve LEDVANCE clients in Germany. This collaboration between these firms will help to accelerate the adoption of smart lighting solutions for home and commercial applications.

Lighting Contactor Market Segmentation:

Lighting Contactor Type Outlook

  • Electrically

  • Mechanically held

Lighting Contactor Installation Outlook

  • Indoor

  • Outdoor

Lighting Contactor End User Outlook

  • Residential

  • Industrial

  • Commercial

  • Others

Lighting Contactor Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 0.6 Billion
Market Size 2023 USD 0.64 Billion
Market Size 2032 USD 1.22 Billion
Compound Annual Growth Rate (CAGR) 8.25% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, End User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  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
Key Market Dynamics Reduced energy consumption and savings in cost

Frequently Asked Questions (FAQ) :

The Lighting Contactor market size was valued at USD 0.6 Billion in 2022.

The market is projected to grow at a CAGR of 8.25% during the forecast period, 2023-2032.

The key players in the market are Siemens AG (Germany), Rockwell Automation (US), ABB Ltd (Switzerland), Schneider Electric SE (France), Legrand (France),.

The Mechanically held dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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