Market Insights Reports delivers key insights on the Industrial Lighting market in its latest report titled, “Industrial Lighting Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The industrial lighting market is expected to register a CAGR of 4.5% during the forecast period (2021 – 2026).
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Top Key Players in the Global Industrial Lighting Market: Koninklijke Philips NV, Cree Inc., Eaton Corporation PLC, Emerson Electric Co., Dialight PLC, Legrand SA, Zumtobel Group AG, Acuity Brands Inc., Osram Licht AG, Trilux Lighting Ltd, Larson Electronics LLC, Hubbell Incorporated, Hilclare Lighting, Raytec Ltd, Glamox UK, Nemalux Inc., R.Stahl Limited, ABB Installation Products Inc. (ABB Limited)
– July 2020 – Savant Inc. completed its acquisition of GE lighting to enhance its product portfolio for the Lighting market. This acquisition will support both these companies to provide unique and cost-effective solutions to their customers.
– November 2019 – Dialight launched its new SafeSite Glass Reinforced Polyester (GRP) linear form factor for the APAC and EMEA markets. This new LED fitting includes IECEx / ATEX Zone 2, 21 & 22 certification for the ultimate solution in hazardous applications including upstream and downstream oil and gas, petrochemical, mining, and heavy manufacturing applications. This newly launched product will help the company to expand its existing portfolio of hazardous lighting.
Key Market Trends
LED Light Source is Expected to Hold Major Share
– LED has features, such as longevity, energy efficiency, low operational/maintenance costs, and the ability to deliver an increasingly shorter return on investment (ROI), which may ultimately drive its demand in the industrial lighting market. Moreover, LEDs produce no harmful ultraviolet or infrared radiation, thereby offer numerous benefits, such as lowered cooling costs, maintenance simplification, prolonged product life, avoiding damage to eyes and sensitive equipment, and providing a margin of safety in an industrial environment.
– Governments and public organizations worldwide are increasingly deploying these LED Lighting networks to address the maintenance issues created by incandescent lamps’ usage. These bulbs and high-pressure sodium are easily compounded due to the surrounding reactive gases. Besides, as a lighting source, LED also provides a high luminosity and high efficiency and offers operational solutions against corrosion and vapor resistance compared to traditional lighting
– Also, LEDs contain no moving parts. Hence, they are more durable and can withstand shock and corrosion better. Their inability to ignite with a spark is an added advantage. With such properties, LEDs are extremely useful for the mining industry applications that are often subject to high vibrations, debris, chemicals, and explosive solutions.
– One other prominent characteristic of LEDs is that it eliminates light pollution by reducing energy waste reduction, by controlling each diode through lensing to aim the light exactly where it is needed. Light pollution can be controlled by up to 50% and energy waste by up to 70%.
The report offers an in-depth assessment of the growth and other aspects of the Industrial Lighting market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Browse Complete Report details with Table of Content:
Europe to Hold Significant Market Share
– The associations in the region frequently engage by proposing strategies and plans for lighting segments. The European SSL Support Strategy of 2011 was proposed and implemented for European LED standardization and accelerating large-scale Solid-State- Lighting deployment. Then, in March 2019, the Russian government announced plans to increase the volume of support for its domestic petrochemicals industry by doubling the capacity. The government further aims to attract over USD 40 billion of additional investments to the industry by 2030.
– Further, most European countries, primarily the United Kingdom, are aiming for net-zero carbon emissions by 2050. Therefore, local manufacturing companies are investing considerably in lighting innovations based on this agenda. As a result, the manufacturers are innovating to keep up with the environmental norms. Also, the Europe Association of Lighting and Lighting Europe released, in August 2019, the norms on how modulated fees can be applied to the lamps and luminaires segment. After enforcing the waste management fees system in the EU market, the lighting segment still faces challenges.
– Furthermore, the use of LED lighting in quarries is increasing in the region due to various mines, around 2,000 mines, and quarries in the United Kingdom alone to produce a vast range of materials, despite reduced activity in the region. Despite the slow growth of mining in Europe, the investments are skewed toward reducing overall cost using technology that miners focus upon currently.
– Other recent developments, such as the ban on mercury in lamps to cut the EU’s CO2 emissions by more than 40 megatons and electricity use by 138 TWh by 2030, lead to increased LED lighting applications across coal-based power plants in the region. The report by the Swedish Energy Agency (SEA) and CLASP in late 2019 underlines four major power plants’ dependency on mercury-based lightings.
This Industrial Lighting Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2026
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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