The prominent companies such as Emerson Electric (U.S.), Hubbell Lighting, Inc. (U.S.), General Electric (U.S.), Cree, Inc. (US), Philips Lighting Holding B.V. (Netherlands) are contributing the largest market revenue in the manufacturing of industrial lighting. In 2015, The Philips Lighting Holding B.V. (Netherlands) went into the partnership with World Council on City Data (WCCD), which has further helped United Nation about the smart LED street lighting. Moreover, it also supports to standardized city data may reduce CO2 emission in the city of over 60% and could reduce energy consumption of approximately 8%, globally.
In North America regions, the LED lighting has huge demand in the market in the forecast years due to its low cost and low energy consumption, and is driving the industrial lighting market growth. The industrial lighting quality could improve the traffic safety, city attractiveness and contributes to the economic strength. These LED lighting is energy saving and can reduce the greenhouse gas emissions across the world.
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The global industrial lighting market are bifurcated into light source type, product, applications, and region. The light source type includes LED, fluorescent, high intensity discharge, incandescent, CFL, halogen and others. The products include industrial wall lights, vintage industrial lighting, industrial look lighting, industrial hanging light, task lighting, accent lighting and others. The applications include factory & production lines, hotels & restaurants, outer premises, parking areas, hazardous locations, warehouse and others. The region includes North America, Europe, Asia Pacific and rest of the world.
The regional analysis of industrial lighting market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading region across the world in terms of largest market share in industrial lighting market owing to the company’s investments in the manufacturing of different types of industrial lights products including accent lighting, task lighting spotlights, hanging fixtures, post lanterns, wall lighting, recessed fixtures,and others and the expansion by key industrial lighting manufacturers.The industrial lighting market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia-Pacific countries like China, Japan and India is an emerging market for industrial lighting market and expected to be the highest CAGR in the coming years due to the high growth in infrastructural building projects in this region.
The Global Industrial Lighting Market is expected to grow at USD ~13 Billion by 2023, at ~8% of CAGR between 2017 and 2023
The prominent players in the global Industrial Lighting market – Emerson Electric (US), Legrand (France), Acuity Brands Lighting, Inc. (US), TOYODA GOSEI Co., Ltd (Japan), Cree, Inc. (US), Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting, Inc. (US), General Electric (US), Zumtobel Group (Austria), Osram Licht AG (Germany) and among others.
Global Industrial Lighting Market Segmentation:
By light source type, the market is segmented into LED, fluorescent, high-intensity discharge, incandescent, compact fluorescent lamp (CFL), halogen, and others. The LED light segment is expected to be the fastest growing segment owing to features such as minimum carbon emission, reduced power consumption, etc. Therefore, the governments are rolling out subsidies to promote the adoption of LEDs among consumers.
By products, the market has been segmented into industrial wall lights, vintage industrial lighting, industrial look lighting, industrial hanging lights, accent lighting, task lighting, and, others.
By applications, the market is segmented into factory & production lines, hotels & restaurants, outer premises, parking areas, hazardous locations, warehouse, and others.
By region, the market has been segmented into Asia Pacific, North America, Europe, and Rest-of-the-World (RoW). North America has seen developments such as Philips Lighting Holding B.V. (Netherlands) partnering with World Council on City Data (WCCD) which have been fueling the market growth in the region. The constant support of the government to the players of the market to reduce carbon emission is also one of the key drivers of the market. In this region, the demand for LED lights is driving the growth of the market owing to features such as longer lifespan, low cost, lower power consumption, etc. Other factors responsible for the growth of market in the region are company’s investments in the manufacturing of different types of industrial lights products including accent lighting, task lighting spotlights, hanging fixtures, post lanterns, wall lighting, recessed fixtures, etc., and, the expansion of product portfolio by key industrial lighting manufacturers.
Europe holds the potential to witness a boom in the market owing to factors such as widespread urbanization and standardized industrialization. The adoption of LED lights has enhanced the quality of industrial lighting which has is a key driver of the market. The Asia Pacific market is in a developmental phase, with industries in this region still growing. It possesses immense potential for augmented demand in the coming years. Moreover, the region is home to emerging economies such as India and China that are battling problems of hazardous pollution. Adoption of LED lights can play a part in reducing carbon monoxide levels and accelerate regional market growth.
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- Light manufacturing companies
- Product sales and distribution companies
- Original equipment manufacturers
- Original design manufacturers
- Installers and maintenance service providers
- Light providers
- Research and development companies
- Market research and consulting firms
- Technology standards organizations
- Technology investors
- System Integrators
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