Industrial Lighting Market 2022 | Top Companies Overview, Regional Analysis, Revenue, CAGR Growth and Forecast by 2027

The global industrial lighting market size reached US$ 8.38 Billion in 2021. By 2027, It will reach US$ 11.43 Bn by 2027, exhibiting a CAGR of 5.10% (2022-27).

SHERIDAN, WYOMING, UNITED STATES, November 29, 2022 /EINPresswire.com/ -- 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 growth rate (CAGR) of 5.10% during 2022-2027.

What is industry lighting?

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.

Impact of COVID-19:

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.

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What is the major drivers for the industrial lighting market?

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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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial lighting market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, product type, light source, offering, type and application.

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

Who are the leading players in industrial lighting market?
• 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
• Zumtobel Group.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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