The latest research study “Industrial Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global industrial lighting market size reached US$ 8.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.43 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
Industrial lighting represents a lighting system that is generally found in the manufacturing environment for providing ample illumination to spot or identify hazards. It is commercially available in varying types, such as high-intensity discharge (HID), light-emitting diode (LED), and halogen lighting. Industrial lighting is heat-resistant, flexible, and inhibits ultraviolet (UV) radiation. In line with this, it has the ability to withstand frequent switching while consuming minimal energy as this system is energy-efficient. Consequently, industrial lighting finds extensive applications in various industries, such as automotive, oil and gas, pharmaceuticals, etc.
Global Industrial Lighting Market Trends and Drivers:
The inflating need for energy-efficient solutions is primarily driving the industrial lighting market. Additionally, the launch of favorable policies by government bodies across countries to promote the use of light-emitting diode (LED) industrial lighting in the commercial sector, owing to the growing consumer awareness towards its several beneficial properties, is further catalyzing the market growth. Besides this, numerous technological advancements and the rising integration of the Internet of Things (IoT), remote-controlled, and Wi-Fi-controlled lighting are acting as significant growth-inducing factors. Moreover, the widespread adoption of industrial lighting in cold storage, warehouses, production lines, and parking areas to ensure safety and security is also positively influencing the global market. Apart from this, the introduction of new light illuminating systems, including fluorescent and high-intensity discharge (HID), for improving longevity, optimizing energy efficiency, maintaining costs by delivering a shorter return on investments (ROI), etc., is anticipated to fuel the industrial lighting market over the forecasted period.
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| Industrial Lighting Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 8.38 Billion |
| Market forecast in 2027 | US$ 11.43 Billion |
| Growth Rate | CAGR of 5.10% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product Type, Light Source, Offering, Type, Application and Region |
| Regional scope | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
| Key companies profiled | Acuity Brands Inc., Bajaj Electricals Ltd. (Bajaj Group), Dialight plc, Eaton Corporation PLC, Elba SA, Emerson Electric Co., GE Current a Daintree Company, LSI Industries Inc., OSRAM Opto Semiconductors GmbH (OSRAM GmbH), Panasonic Corporation, Wipro Lighting and Zumtobel Group. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
- High/Low Bay Lighting
- Flood/Area Lighting
Breakup by Light Source:
- LED
- High-Intensity Discharge (HID) Lighting
- Fluorescent Lighting
Breakup by Offering:
- Lamps & Luminaries
- Control Systems
- Services
Breakup by Type:
- New Installation
- Replacement Installation
- Retrofit Installation
Breakup by Application:
- Warehouse & Cold Storage
- Factory & Production Lines
- Outer Premises
- Parking Areas
- Hazardous Locations
- Others
By Geography:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
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List of Major Key Players:
The major players in the market are Acuity Brands Inc., Bajaj Electricals Ltd. (Bajaj Group), Dialight plc, Eaton Corporation PLC, Elba SA, Emerson Electric Co., GE Current a Daintree Company, LSI Industries Inc., OSRAM Opto Semiconductors GmbH (OSRAM GmbH), Panasonic Corporation, Wipro Lighting and Zumtobel Group.
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