The report on the global Industrial lighting market uses the top-down and bottom-up approaches to define, analyze, and describe the market trends for the next five years. The report also tracks the emerging applications, innovative technologies, and mergers & acquisitions. It also focuses on the growth drivers and restraints for the key market players during the forecast period.
Industrial lighting solutions provide bright light in industrial premises to ensure clear vision and safety while working. Factories and production lines make the maximum use of industrial lighting sources.
They offer maximum efficiency and productivity along with increased durability and minimal energy consumption. With advancement in technology, the industrial lighting sources are made heat resistant to increase their durability in industries.Industrial lighting sources are being used in various applications such as warehouses, outer premises of industries, and in parking areas.
There is an increase in awareness about the benefits of using industrial lighting which is favoring the market growth. This report studies the current and future aspects of the industrial lighting market.
KEY PREMIUM INDUSTRY INSIGHTS
- The global industrial lighting market is growing at a steady pace during the forecasted period because of rise in modern infrastructure development. In addition, the durability and low cost of LEDs is driving the market growth.
- The key market players are investing in developing the technology to aid in energy consumption in industries which is creating newer growth opportunities for the market. Industrial lighting requires lesser maintenance and is more durable than any other lighting option.
- These benefits are contributing towards the market growth. However, the low margin available in LED lighting is hampering the market growth.
The global industrial lighting market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. The Asia Pacific region holds the highest market share and is the largest revenue contributor for the industrial lighting market.
The region is dominant because of rise in industrial revolution. The increase in number of factories and warehouses is also promoting the growth of industrial lighting market.
KEY MARKET PLAYERS
Key players in the industrial lighting market include:
- Philips Lighting Holding B.V.
- Osram Licht AG
- Cree, Inc.
- Acuity Brands Lighting, Inc.
- Zumtobel Group AG
- Hubbell Lighting, Inc.
- General Electric Co.
- TOYODA GOSEI Co., Ltd.
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