The latest report published by Market Research Future (MRFR) reveals that the global industrial Lighting Market is expected to grow at . The key driver of the market is the rapid industrialization all across the globe which has fueled the demand for good quality industry lighting. The initiatives undertaken by the government to boost green technology in lighting has led to innovation and expansion of product portfolios of the market players which has augmented the competition among them. Other factors which can have a positive impact on market growth are the adoption of light-emitting diodes (LEDs), subsidies on LEDs, demand for smart lighting, etc.
Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/4074
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.
Prominent market players profiled in the report are Hubbell Lighting, Inc. (U.S.), Cree, Inc. (U.S.), Philips Lighting Holding B.V. (Netherlands), Emerson Electric (U.S.), General Electric (U.S.). These key players hold a significant share of the market and undertake initiatives such as partnerships, collaborations, innovation, research & development, etc. to amplify their share in the market. The competition in the market has been further enhanced by new entrants at national and regional levels. Recently, Syska Group, a lighting solution company from India, has invested a lump sum amount of USD 25 million for setting up three new manufacturing units which will have humongous production capacity and it will be further increased in due course. One of the plants will work hand in hand with the Indian government in achieving the goals of ‘Make in India’ program.
About Market Research Future:
Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.
The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the “one size fits all” approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research.
Strong industry focus
Cutting-edge detailed reports
Domain expert researchers
Advanced and transparent research methodology
Cover latest trends and innovations