About Industrial Lighting-
Industrial lighting is generally found in manufacturing environments such as factories, chemical plants, or refineries. Industrial lighting can be particularly helpful for spotting or identifying hazards and other dangerous conditions. Industrial lighting also tends to be more energy efficient for manufacturing facilities which tend to be rather large in size. The benefits of proper and efficient lighting include greater productivity and accuracy, improved security and safety, and an improved working environment for workers. The Industrial Lighting market is witnessing significant growth driven by various factors such as Technological advancements, coupled with increasing consumer demand, are key drivers propelling market expansion.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.82% |
Competition among existing players is due to the Industrial lighting market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Industrial lighting Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Industrial Lighting- market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
OSRAM (Germany), Schneider Electric (France), GE Lighting (United States), Wipro Lighting (India), Philips (Netherland), Cree (United States), Cooper Lighting (United States), Acuity Brands (United States), Panasonic (Japan), Eaton (Ireland), Hubbell Incorporated (United States), ASD Lighting (United States) and Dialight Corporation (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are LEDtronics (United States), LumenRadio (Sweden) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Industrial Lighting- market by Type (High Bay Industrial Down Lights, Open Bottom Hanging Lights, Flood Lights, Rock Lights, Wall Mounted Lights and Others) and Region.
On the basis of geography, the market of Industrial Lighting- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Company Website will boost the Industrial Lighting- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Wattage, the sub-segment i.e. Low Wattage (30-90 Watts) will boost the Industrial Lighting- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Light Source, the sub-segment i.e. LED will boost the Industrial Lighting- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Oil & Gas will boost the Industrial Lighting- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing emphasis on eco-friendly lighting solutions. and Integration with Internet of Things (IoT) technology allows for intelligent control and monitoring of lighting systems.
Market Growth Drivers:
Modernization and infrastructural development., The increasing focus on energy efficiency and sustainable lighting solutions. and Low energy consumption by LEDs.
Challenges:
High maintenance cost. and Lack of common open standards for LED lighting.
Restraints:
Lack of consumer awareness.
Opportunities:
Technological advancement in industrial lighting.
Market Leaders and their expansionary development strategies
In December 2022, Cognex Corporation, the leading machine vision company, has acquired SAC Sirius Advanced Cybernetics GmbH, a German leader in lighting technology. The acquisition expands Cognex’s footprint across industries that manufacture at high speed with minimal tolerance for safety-critical failures, such as automotive and consumer electronics. Cognex plans to feature SAC’s Trevista products with its Vision Pro software offering.
In January 2023, Wipro Lighting, one of India’s largest lighting companies, has launched its pioneering Flameproof Lighting range, Blazeline. This first-of-its-kind, solution-oriented range provides the industry’s most robust and reliable flameproof lighting products designed to withstand hazardous zones and environments. With it, Wipro Lighting guarantees superior in-house design, technical support, and regular upgradation.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.