Global Industrial Lighting Market
Global Industrial Lighting Market was valued at USD 8.25 billion in 2019 which is expected to reach USD 15.18 billion by 2027 at a CAGR 7.88%.
Industrial lighting market is classified into various light sources such as such as LED, HID, and Fluorescent which are used in various applications application such as Hazardous Locations, Parking Areas, Outer Premises, Factory & Production Lines, and Warehouse & Cold Storage.
Rise in government initiatives regarding adoption of LED lighting is the driving factor which is expected to boost the global industrial lighting market growth. Furthermore, increase in demand for cost-effective and energy saving LED lighting is expected to propel the global industrial lighting industry during this forecast period. Moreover, continuous infrastructure development and modernization will have the positive impact on global industrial lighting market growth. Also, industrial lighting has various unique features like less consumption of energy, and durability expected to fuel the demand for industrial lighting in near future.
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However, high cost of equipment and implementation is expected to hamper the global industrial lighting market growth. Further, lack of standardization of facilities in industries will affect the global industrial lighting market growth.
Market Key Players
Various key players are discussed in this report such as TOYODA GOSEI Co., Ltd., General Electric Co., Hubbell Lighting, Inc., Zumtobel Group AG, Legrand, Acuity Brands Lighting, Inc., Cree, Inc., Osram Licht AG, Emerson, and Philips Lighting Holding B.V.
By Light Source
- Control Systems
- Lamp & Luminaires
By Installation Type
- Hazardous Locations
- Parking Areas
- Outer Premises
- Factory & Production Lines
- Warehouse & Cold Storage
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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