Industrial Lighting Market Research Report- Forecast 2030

Industrial Lighting Market, Light Source Type (LED, Fluorescent, High-Intensity Discharge, Incandescent), By Products (Industrial Wall Lights, Vintage Industrial Lighting, Industrial Look Lighting, Industrial Hanging Light, Task Lighting, Accent Lighting), By Applications- Forecast 2030

ID: MRFR/SEM/2742-HCR | December 2022 | Region: Global | 100 Pages         

Industrial Lighting Market

Industrial Lighting Market will exhibit a CAGR of 7.80% and is expected to reach USD 16.9 Billion in the forecast period of 2022-2030.

Segmentation

By Type LED Fluorescent High Intensity Discharge Incandescent
By Products Industrial Wall Lights Vintage Industrial Lighting Industrial Look Lighting Industrial Hanging Light Task Lighting Accent Lighting
By Application Hotels & Restaurants Factory & Production Lines Hazardous Locations Parking Areas Outer Premises Warehouse Others

Key Players

  • Emerson Electric (US)
  • Osram Licht AG (Germany)
  • Legrand (France)
  • Zumtobel Group (Austria)
  • Acuity Brands Lighting Inc. (US)
  • General Electric (US)
  • TOYODA GOSEI Co. Ltd (Japan)
  • Hubbell Lighting Inc. (the US)
  • Cree Inc. (the US) Philips Lighting Holding B.V. (Netherlands)

Drivers

  • Rising Demand in the Filled of Photography interior Designing
  • Increasing industrialization in all the regions of the world
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Industrial Lighting Market Size and Overview:


Globally, the size of Industrial Lighting Market is expected to grow to USD 16.9 Billion by 2030, at a 7.80% of CAGR between 2022 and 2030 driven by the increasing industrialization in all the regions of the world.

The industrial lighting market is expected to grow at a very fast pace. The trends of its growth within the last five years have been amazing and similar progress is expected in upcoming years. Light is one of the essential components that is required in every sector. The increased  Demand in the field of photography, interior designing, and similar areas has been growing each year with the growth of the population. It is also a useful component in the field of Plant growing in favorable circumstances. The electricity that is converted into light reaches the plants in the form of white light that is very useful for growth.


COVID-19 Analysis:


COVID-19 is a tough time for everyone. This worse time is not over yet, and no one has any idea when it would get over. It seems to have affected almost every individual, no matter what age group. Businesses all over the world have been affected to a great extent as well. While they have been trying to overcome the losses they had to face, they also focus on the present and the future. The working pattern needs to be changed to looking at the present conditions that COVID-19 has created worldwide. The reports that have been prepared exclusively by the industry experts are the best source of guidance and mentorship for them. It contains all the details required for the business to ensure efficient running. The qualitative and quantitative analysis of the market, the current industrial Lighting Market trend, and the companies’ steps can make the reports best.

Dynamics Growth:

The industrial lighting market is expecting a fast and steady Growth over the years. With a high anticipated CAGR of 7.80% during the forecast period, it will significantly impact the global economy.

Drivers:

Various factors affect the growth of the Industrial Lighting Industry, including the government’s supportThe in promoting green technology, which has bought a revolution in the market, bringing innovation and technology. Also, the adoption of LEDs in various areas of applications and the increased Demand for smart lighting, subsidies on LED’s are among some of the others drivers promoting the growth of the Industrial Lighting Market. The biggest factor indeed is the increasing industrialization in all the regions of the world.

Restraints:

The biggest reason leading to the shunted growth of the Industrial Lighting Market is the low margin of profit on the LED lighting products, which leads to a lesser number of investors and hence the manufacturers for the same.


Regulatory Implications:


Governments worldwide have been trying to ensure the use of eco-friendly products in almost every area. The same goes for the lightning too. It has been trying to support green lighting, which does not cause any harm to the environment whatsoever. Thus, the regulatory implications tend to be a major factor in Industrial Lighting Market Growth. They have minimal or no hazardous effect on human health or the environment, making them the most popular choice among the populations and the governments. The increased awareness about the use of such products among humankind also tends to bring sustainable growth in the industry. With no adverse effects of the laws b the government on the Industrial Lighting Industry. Itis is expected to climb the ladder of success at a very high speed and name n the global economy.


Segmentation Overview:


The industrial lighting market can be divided into the following segments: Based on light source type Based on products Based on applications

Based on light source type

Based on the type of light source, the market has the following subtypes:


  • Incandescent

  • Halogen

  • LED

  • CFL

  • High-Intensity Discharge

  • Fluorescent

  • Others


Based on the products:

Based on the products, the Industrial & Commercial LED Lighting Market has the following categories:

  • Task Lighting

  • Industrial Wall Lights 

  • Accent Lighting

  • Vintage Industrial Lighting

  • Industrial Hanging Lights

  • Industrial Look Lighting

  • Others


The region that dominates the Market Share is the floodlighting or the area lighting that held the largest share in the in the year 2016.

Based on the application

Based on the application, the Global Industrial Lighting Market has the following subtypes:


  • Hotels & Restaurants

  • Factory & Production Lines

  • Hazardous Locations

  • Parking Areas

  • Outer Premises

  • Warehouse

  • Others


The segment that dominates the market is the factory and production lines which held the highest share in the market in 2016 and is still going strong and expected to end up with the largest share by the end of the Industrial Lighting Market Forecast.

Regional Analysis:


Based on the region, the Industrial Lighting Market is divided into the following:


  • Europe

  • North America

  • Asia pacific

  • Rest of the world


The region that dominates the Market trend is North America. The largest share in the market is attributed to many investors for the market in various fields like task lighting, post lanterns, hanging fixtures, and many more. Europe is also expecting rapid growth in the Market Size during 2022-2030. The Asia Pacific is the emerging market for industrial lighting. Countries like India, China, Japan are expected to project the highest CAGR during the forecast period. This growth in the region is majorly due to the increase in the number of infrastructural projects across the countries and the rapid industrialization bringing sustainable development to the  Market Share.

Competitive Landscape:


The major players in the industrial lighting market are as follows: Emerson Electric (US), Osram Licht AG (Germany), Legrand (France), Zumtobel Group (Austria), Acuity Brands Lighting, Inc. (US), General Electric (US), TOYODA GOSEI Co., Ltd (Japan), Hubbell Lighting, Inc. (the US), Cree, Inc. (the US) and Philips Lighting Holding B.V. (Netherlands). All the major players in the market have been working towards the growth of the Market Size individually and also with the support of each other. The mergers, acquisitions, and collaborations amongst themselves have bought a major rise in productivity and thereby the sale of the products. Bringing the latest innovations in the industrial lighting market has been their focus, for which they all have been working significantly. They have been implementing the strategies in an organized way, making them grow at a fast pace. They have been showcasing the plans as idols for the newcomers too.


Recent Advancements:


Here is the list of recent advancements in the industrial lighting market:


  • XPE2 Photo red was introduced in the market by Cree Inc. in February 2019. The product was specially designed to help in the sector of horticulture.

  • LiDAR (Light detection and ranging) laser was innovated in September 2019 by OSRAM, invented to help them see longer distances without difficulty.

  • Delmarva power and the city of Wilmington collaborated in July 2019 to install a smart LED lighting system in the US and Canada airports.

  • New linear high bay luminaries were invented by Cree in October 2018 to expand its business horizons.

  • Various innovations leading to the benefits in the field of agriculture are being introduced.


Report Overview:

The report that has been prepared exclusively for the companies dealing in industrial lighting has all the elements that they would need for the efficient and smooth functioning of the system. It has features like the market overview, The Industrial Lighting Market Analysis based on the effects that COVID-19 Has bought with the effective means to overcome the loss. The report also has the details of the market dynamics, including the growth, the drivers promoting the development of the market, and the restraints that tend to hamper the growth.
The regulatory implications of the market have also been discussed in detail in the report. The market segmentation based on the product, type, applications, and regions has also been included. The details about the major players in the market and the strategies they have been implementing for their won growth and the growth of the market have been discussed too. The recent advancements in the industrial lighting market have also been part of the in-depth report on the market.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 16.9 Billion
  CAGR   7.80% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Products, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Emerson Electric (US), Osram Licht AG (Germany), Legrand (France), Zumtobel Group (Austria), Acuity Brands Lighting Inc. (US), General Electric (US), TOYODA GOSEI Co. Ltd (Japan), Hubbell Lighting Inc. (the US), Cree Inc. (the US) Philips Lighting Holding B.V. (Netherlands)
  Key Market Opportunities   Adoption of LEDs in various areas of applications and the increased Demand for smart lighting
  Key Market Drivers

  • Rising Demand in the Filled of Photography interior Designing,
  • Increasing industrialization in all the regions of the world


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    Frequently Asked Questions (FAQ) :

    Industrial Lighting Market Size is expected to grow at USD 16.9 Billion by 2030, at 7.80% of CAGR between 2022 and 2030

    The major players in the market are: Emerson Electric (US), Osram Licht AG (Germany), Legrand (France), Zumtobel Group (Austria), Acuity Brands Lighting, Inc. (US), General Electric (US), TOYODA GOSEI Co., Ltd (Japan), Hubbell Lighting, Inc. (the US), Cree, Inc. (the US) and Philips Lighting Holding B.V. (Netherlands).

    The commercial segment is expected to dominate the market.

    The value of the market in Asia pacific in 2022 was USD 55.84 billion.