Industrial Lighting Market: Global Industry Analysis and Forecast (2023-2029)

Industrial Lighting Market was valued at US$ 9.24 Bn. in 2022. Industrial Lighting Market size is estimated to grow at a CAGR of 8.30% during the forecast period.

Industrial Lighting Market Overview:

Industrial lighting plays a key part in the safety and performance. It is used in warehouses, factories, manufacturing plants and other hazardous workplaces. It is used in end-use industries for the safety concerns and for better visibility experience. Previously, lighting systems consume unnecessary quantities of power and require intensive maintenance. With the innovations in lighting system, LED and light management have reduced the operating costs by up to 85 percent and improves the quality of light.Industrial Lighting MarketTo know about the Research Methodology :- Request Free Sample Report In industrial sector, industrial lighting plays a vital role in terms of enhancing safety and productivity. It provides sustainable solutions and ensure employee well-being and comfort. Energy efficient lighting system is an significant aspect, which leads to less destruction of fossil energy.

Industrial Lighting Market Dynamics:

The presence of wide range of lighting products at competitive prices is one of the key drivers behind the global industrial lighting products market growth. Many industrial manufacturing companies are using efficient lighting solution to take advantage of incredible cost and energy savings from the use of LED lights. A unique and promising characteristic of the LED lights have opened up new opportunities for processing special materials. Demand for Energy-Efficient Lighting: Drive the adoption of Industrial Lighting An industrial development and modernization of industries across the globe, some of the benefits of industrial lighting like reduced energy consumption, lower maintenance cost, higher quality lighting, durability, longer life, low radiated heat, immediate lighting and directional illumination and high brightness and intensity are some of the prominent drivers behind the market growth. The adoption of LEDs is increasing across industrial sector because of its reduced cost, several benefits of LED Lighting for industrial usage, introduction of Wi-Fi control-based lighting and demand of IoT based smart lighting technologies are further propelling the growth of market. Slow Down of the Global Economy: Limit the Demand For Industrial Lighting The Industrial Lighting business serves mostly industrial customers. Despite the increased the demand for the thermal conductive material in the consumer electronics and the automotive sector, key players are facing some problems like market slowdown in key customers segments in particular the automotive industry and electronics industry. The economic environment of the Industrial Lighting business technology has characterized by persisting economic and geopolitical risk and decline in the demand from major industries.

Industrial Lighting Market Segment Analysis:

Light emitting diode (LED) segment held the dominant market share in 2022 and is expected to continue its dominance during forecast period. LED lighting is the most energy efficient lighting solution in the market. Longer life span and capability to use lower energy consumption are propelling the growth of industrial lighting market. Furthermore, LED lighting delivers benefits such as its improved safety, sturdiness, tremendous design flexibility, great Color Rendering Index (CRI), dimming ability, no UV emissions and operating capabilities in both cold and hot temperature are ultimately improving the market growth. An increase in innovative lighting products are expected to drive the market growth. LEDil’s, LINNEA-2R is an efficient solution for industrial lighting that can be used with Signify Fortimo Edge 2-row boards to achieve a higher LM/$ than two single row boards. The LINNEA-2R oval beam provides uniform aisle and floor lighting with excellent luminaries spacing. Warehouse & Cold Storage: Drives the demand for Industrial Lighting The heavy-duty work carried out in industries, which requires lighting solutions that are ergonomic, efficient, and economic in nature. Warehouse managers and business owners are always looking for different ways to improve business efficiency and profitability. They are adopting efficient industrial lighting solution, which improve employee productivity, building positivity, and promote work safety. In the warehouse and cold storage, heavy-duty work is requiring to use lights that are sturdy enough to withstand extreme working conditions and high temperatures with less consumption. Energy conservation is considered one of the most important concerns in the end-user industries. Key players operating in the market are focusing to deploy smart lighting solutions for industries, which help to conserve energy and provide for environmental sustainability.

Industrial Lighting Market Regional Insights:

Asia Pacific: Major contributor region in Global Market An increase in demand for LED lighting in industrial locations and new oil and gas plant project in India, China, and Indonesia are expected to drive the Asia Pacific market growth. China has planned and announced the completion of around 305 petrochemical plants by 2030 with capacity additions coming from Hengli Petrochemical and China Petrochemical Corp, which is expected to drive the demand for industrial lighting during the forecast period. Innovations in lighting systems have added to the market to address the supply-demand gap that is majorly contributed by increased/restarting production. The rapid changes in market conditions create new challenges for all market participants. The leading industry players are demonstrating substantial changes in their strategies. The price volatility makes companies to ensure their operations are efficient and that they are able to compete successfully in any market conditions. The objective of the report is to present a comprehensive analysis of the global Industrial Lighting Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Industrial Lighting Market dynamic, structure by analyzing the market segments and projecting the Industrial Lighting Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Industrial Lighting Market make the report investor’s guide.

Industrial Lighting Market Scope: Inquiry Before Buying

Industrial Lighting Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 9.24 Bn.
Forecast Period 2023 to 2029 CAGR: 8.30% Market Size in 2029: US $ 16.15 Bn.
Segments Covered: by Light Source LED Lighting High Intensity Discharge (HID) Lighting Fluorescent Lighting Others
by Offering Lamps & Luminaries Control Systems Services
by Type New Installation Replacement Installation Retrofit Installation
by Product Industrial Linear Lighting Spot Lighting Flood Lighting/Area Lighting High Bay Lighting
by Application Warehouse & Cold Storage Factory & Production Lines Outer Premises Parking Areas Hazardous Locations Others

Industrial Lighting Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Industrial Lighting Market Key Players are:

1. Philips Lighting Holding B.V 2. Hubbell Lighting, Inc. 3. Emerson 4. Legrand 5. Acuity Brands Lighting, Inc. 6. TOYODA GOSEI Co., Ltd 7. Cree, Inc. 8. General Electric 9. Osram Licht AG 10.Zumtobel Group 11.Honeywell International Inc 12.Cooper Industries, Inc. 13.Schneider Electric SE 14.Digital Lumens, Inc 15.Streetlight Vision 16.Lutron Electronics Company 17.Wipro 18.Comarch 19.Havells 20.Trilux 21.LEDil 22.Eaton 23.Signify Holding 24.Ushio America, Inc. 25.Litetronics Frequently Asked Questions: 1] What segments are covered in the Industrial Lighting Market report? Ans. The segments covered in the Industrial Lighting Market report are based on Type, Light Source, Offering, Product, and Application. 2] Which region is expected to hold the highest share in the Industrial Lighting Market? Ans. The Asia Pacific region is expected to hold the highest share in the Industrial Lighting Market. 3] What is the market size of the Industrial Lighting Market by 2029? Ans. The market size of the Industrial Lighting Market by 2029 is US$ 16.15 Bn. 4] What is the forecast period for the Industrial Lighting Market? Ans. The forecast period for the Industrial Lighting Market is 2023-2029. 5] What was the market size of the Industrial Lighting Market in 2022? Ans. The market size of the Industrial Lighting Market in 2022 was US$ 9.24 Bn.
1. Global Industrial Lighting Market: Research Methodology 2. Global Industrial Lighting Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Industrial Lighting Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Industrial Lighting Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Industrial Lighting Market Segmentation 4.1 Global Industrial Lighting Market, by Light Source (2022-2029) • LED Lighting • High Intensity Discharge (HID) Lighting • Fluorescent Lighting • Others 4.2 Global Industrial Lighting Market, by Offering (2022-2029) • Lamps & Luminaries • Control Systems • Services 4.3 Global Industrial Lighting Market, by Type (2022-2029) • New Installation • Replacement Installation • Retrofit Installation 4.4 Global Industrial Lighting Market, by Product (2022-2029) • Industrial Linear Lighting • Spot Lighting • Flood Lighting/Area Lighting • High Bay Lighting 4.5 Global Industrial Lighting Market, by Application (2022-2029) • Factory & Production Lines • Outer Premises • Parking Areas • Hazardous Locations • Others 5. North America Industrial Lighting Market(2022-2029) 5.1 North America Industrial Lighting Market, by Light Source (2022-2029) • LED Lighting • High Intensity Discharge (HID) Lighting • Fluorescent Lighting • Others 5.2 North America Industrial Lighting Market, by Offering (2022-2029) • Lamps & Luminaries • Control Systems • Services 5.3 North America Industrial Lighting Market, by Type (2022-2029) • New Installation • Replacement Installation • Retrofit Installation 5.4 North America Industrial Lighting Market, by Product (2022-2029) • Industrial Linear Lighting • Spot Lighting • Flood Lighting/Area Lighting • High Bay Lighting 5.5 North America Industrial Lighting Market, by Application (2022-2029) • Factory & Production Lines • Outer Premises • Parking Areas • Hazardous Locations • Others 5.6 North America Industrial Lighting Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Industrial Lighting Market (2022-2029) 6.1. European Industrial Lighting Market, by Light Source (2022-2029) 6.2. European Industrial Lighting Market, by Offering (2022-2029) 6.3. European Industrial Lighting Market, by Type (2022-2029) 6.4. European Industrial Lighting Market, by Product (2022-2029) 6.5. European Industrial Lighting Market, by Application (2022-2029) 6.6. European Industrial Lighting Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Industrial Lighting Market (2022-2029) 7.1. Asia Pacific Industrial Lighting Market, by Light Source (2022-2029) 7.2. Asia Pacific Industrial Lighting Market, by Offering (2022-2029) 7.3. Asia Pacific Industrial Lighting Market, by Type (2022-2029) 7.4. Asia Pacific Industrial Lighting Market, by Product (2022-2029) 7.5. Asia Pacific Industrial Lighting Market, by Application (2022-2029) 7.6. Asia Pacific Industrial Lighting Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Industrial Lighting Market (2022-2029) 8.1 Middle East and Africa Industrial Lighting Market, by Light Source (2022-2029) 8.2. Middle East and Africa Industrial Lighting Market, by Offering (2022-2029) 8.3. Middle East and Africa Industrial Lighting Market, by Type (2022-2029) 8.4. Middle East and Africa Industrial Lighting Market, by Product (2022-2029) 8.5. Middle East and Africa Industrial Lighting Market, by Application (2022-2029) 8.6. Middle East and Africa Industrial Lighting Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Industrial Lighting Market (2022-2029) 9.1. South America Industrial Lighting Market, by Light Source (2022-2029) 9.2. South America Industrial Lighting Market, by Offering (2022-2029) 9.3. South America Industrial Lighting Market, by Type (2022-2029) 9.4. South America Industrial Lighting Market, by Product (2022-2029) 9.5. South America Industrial Lighting Market, by Application (2022-2029) 9.6. South America Industrial Lighting Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Philips Lighting Holding B.V 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Hubbell Lighting, Inc. 10.3 Emerson 10.4 Legrand 10.5 Acuity Brands Lighting, Inc. 10.6 TOYODA GOSEI Co., Ltd 10.7 Cree, Inc. 10.8 General Electric 10.9 Osram Licht AG 10.10 Zumtobel Group 10.11 Honeywell International Inc 10.12 Cooper Industries, Inc. 10.13 Schneider Electric SE 10.14 Digital Lumens, Inc 10.15 Streetlight Vision 10.16 Lutron Electronics Company 10.17 Wipro 10.18 Comarch 10.19 Havells 10.20 Trilux 10.21 LEDil 10.22 Eaton 10.23 Signify Holding 10.24 Ushio America, Inc. 10.25 Litetronics
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