About LED Trunking Systems
LED trunking system has very high efficacy and are simple to install with simple installation procedure using LED modules and trunks. It has a huge energy saving capacity of up to 65% compared to conventional LED lighting. LED trunking system has the ability to distribute uniform light and has various applications in the supermarket, retail places, warehouses, offices, lecture halls, etc. Further, an increase in government initiatives for energy saving solutions and demand from consumers for a cost-efficient LED trunking system is driving the global LED trunking system market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.3% |
The Global LED trunking system market is fragmented with several players. LED trunking systems are of strategic significance in the revolution of lighting technology that the industry is experiencing. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global LED Trunking Systems 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.
Philips Lighting Holdings. (Netherlands), GE lighting (United States), Havells Sylvania (Shanghai Feilo Acoustics) (United Kingdom), Siteco Beleuchtungstechnik GmbH (Osram) (Germany), Zumtobel Group (Austria), TRILUX Group Management GmbH (Germany), Aura Light International (Sweden) and Luxon LED (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Trieco Lighting Technology (United States), Item International Handel GmbH (Austria), Elux Led Lighting (United States) and Thorlux Lighting (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global LED Trunking Systems market by Type (Narrow Distribution, Wide Distribution and Other), Application (Commercial, Industrial, Warehouse and Other) and Region.
On the basis of geography, the market of LED Trunking Systems 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 Shape, the sub-segment i.e. Flat will boost the LED Trunking Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Government Focus on Energy Saving Solutions
Market Growth Drivers:
Ease in installation and High Quality Design, Growing Display and Backlighting Market and Rising Disposable Income of Consumers and Demand for Decorative LED Lightings
Challenges:
System Reliability, Dimming, Thermal Management, and Power Supply Performance.
Restraints:
High Initial Cost of LED Trunking System Setup may hamper the Market Growth
Opportunities:
Growing Smart Lighting and Efficacy of LED lightings and Implementation of IoT in LED Trunking System
Market Leaders and their expansionary development strategies
On October 27, 2023, Acuity Brands announced a strategic partnership with Current by GE to develop and market integrated LED trunking systems for commercial buildings. This collaboration combines Acuity's lighting expertise with Current's smart building technology.
On September 5, 2023, Philips and Zumtobel signed a memorandum of understanding to explore a potential joint venture for LED trunking systems in Europe. This partnership aims to combine Philips' strong presence in the retail and hospitality sectors with Zumtobel's expertise in architectural lighting.
Key Target Audience
LED Trunking System Manufacturers, Potential Investors, Industry Associations, Marketing firms, Government and Regulatory Bodies 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.