Global Commercial Lighting Market Overview:
Commercial lighting is the solution for illuminating the commercial spaces indoor as well as outdoor in offices, institutions, stores, medical care, etc. It is basically the lighting solution not for the residential or industrial purpose as the commercial lighting is subjected to have a higher cost, have durability, energy efficiency, cost-saving solutions. These lighting solutions are available in different designs and colors with a different type of fixing structures.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2023 |
Forecast Period | 2024-2028 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The emergence of Smart IoT Integrated Commercial Lighting Solutions and Availability of Commercial Lighting in Various Designs and Pattern
Market Growth Drivers:
Demand for the Energy Efficient and Versatile Lighting Solution in the Commercial Application and Rising Commercialization and Infrastructure Development
Challenges:
High Cost Associated with the Commercial Lighting
Restraints:
Environmental Impact Involved with the High Cost Associated with the Commercial Lighting
Opportunities:
Growing Awareness of Using Eco-friendly Commercial Lighting and Continuous Technological Advancements in the Commercial Lighting Solutions
Competitive Landscape:
Commercial Lighting has is a fragmented market with various players. The companies are focusing on the research and development in commercial lighting and spendings on new product launches. They are also planning on strategic activities like mergers & acquisitions to maintain their competitive edge and sustain in the market.
Some of the key players profiled in the report are Eaton Corporation plc (Ireland), Cree, Inc. (United States), Universal Lighting Technologies, Inc (United States), Plusrite Australia Pty Ltd (Australia), Dasco Lighting (Australia), Intense Lighting (United States), General Electric Company (United States), Syska (United States), SunLED Energy Pty Ltd (Australia), Ambi-FX (Australia), Deco Lighting, Inc. (United States) and Shenzhen City Spot Lighting Co. Ltd. (China). Considering Market by Fixtures, the sub-segment i.e. Tubular Fluorescent Light Fixtures will boost the Commercial Lighting market. Considering Market by Distribution Channel, the sub-segment i.e. Supermarket/Hypermarket will boost the Commercial Lighting market.
Latest Market Insights:
On 17th March 2021, Atar Capital, a Los Angeles-based global private investment firm, announced it has completed the acquisition of Universal Lighting Technologies and Douglas Lighting Controls from the parent company, Panasonic Corporation. Both North American companies are market leaders in the industry, recognized for their award-winning commitment to quality and innovation in digital lighting design that provides end-to-end vertical lighting ecosystems.
On 22nd November 2019, Shenzhen spotlighting is one of the leading global LED light manufacturers and the company has released a variety of LED lights in its energy-saving series in order to provide energy-efficient lighting solutions to customers all over the world. and On 11th December 2020, Intense Lighting, a Leviton company, announced the launch of its new SD downlighting series. Balancing energy efficiency and optical control in a cost-effective package, the SD Series offers clean, uniform illumination in 30 degrees, 50 degrees, and 70-degree beam distributions.
"According to BCA codes COmpliance Guidelines, Recessed luminaries installed in the building thermal envelope shall be sealed to limit air leakage between conditioned and unconditioned space. All recessed luminaires shall be IC-rated and labeled as having an air leakage rate of no more than 2.0 cm when tested in accordance with ASTM E 283 at a 1.57 psf (75Pc) pressure differential. Lighting within dwelling units where 50-75 percent or more of permanently installed interior light fixtures are fitted with high-efficacy lamps or a minimum of 75 percent of the permanently installed lighting fixtures shall contain only high efficacy lamps."
What Can be Explored with the Commercial Lighting Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Commercial Lighting Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Commercial Lighting
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Commercial Lighting market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Commercial Lighting market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Commercial Lighting Providers, Commercial Lighting Distributors and Suppliers, Commercial Lighting International Traders, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.