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%.
The Industrial Lighting Market report, at first, has given a brief understanding of the industry through basic overview. This overview includes the market definition, key applications of the product, and the recent manufacturing technology employed for such production. The global Industrial Lighting market has been analyzed in detail to gain an understanding of the competitive landscape, key regional status, and recent trends noted in the relevant industry. This analysis also contains the product price margins, along with risk factors that are associated with manufacturers. The report on Industrial Lighting market has explored various market dynamics that hold a significant influence during the forecast period of 2020 to 2027.
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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.
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.
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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