Global Industrial Lighting Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Industrial Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global industrial lighting market report, size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global industrial lighting market size reached US$ 8.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.95% during 2023-2028.
Industrial lighting encompasses a range of lighting fixtures that are constructed to provide sufficient illumination for areas where manufacturing, processing, assembly, and other forms of industrial work are taking place. It encompasses high-intensity discharge (HID) lights, fluorescent lights, light-emitting diode (LED) lights, and incandescent lights, each chosen for specific applications based on factors like energy efficiency, luminosity, and longevity. It helps to increase visibility and reduce the likelihood of accidents and injuries. It can improve the performance of the employees by offering a better visual environment. It is crucial for quality assurance processes, helping staff to spot defects or issues in products. It reduces the instances of eye strain and headaches, thereby improving the overall health conditions of the workforce. It is utilized across various sectors, including manufacturing plants, warehouses, food processing facilities, automotive workshops, and many other locations where industrial activities are performed.
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Global Industrial Lighting Market Trends and Drivers:
At present, the rising development of smart lighting and connected systems that offer remote monitoring and control capabilities represents one of the key factors impelling the market growth. Moreover, the increasing emphasis on workplace health and safety is encouraging the adoption of industrial lighting for preventing accidents and ensuring the well-being of workers. Additionally, industries are investing in high-quality lighting systems that provide clear visibility and reduce the strain on the eyes of workers, fostering a safer working environment. Besides this, the growing implementation of stringent regulations is encouraging companies to adopt LED lighting solutions that consume significantly less power than traditional lighting. This results in cost savings while supporting the sustainability goals of the industry. Moreover, the rising preference for eco-friendly lighting solutions with lower carbon footprints, such as solar-powered lights and fixtures made from recyclable materials, is bolstering the market growth. In addition, the increasing demand for customized lighting, such as specific light spectrums, adjustable intensities, and resistance to specific environmental factors, which cater to specific tasks and environments, is strengthening the market growth. This tailoring ensures that lighting solutions can optimize performance in specialized industrial settings, such as clean rooms, food processing plants, or explosive atmospheres. Apart from this, the growing integration of internet of things (IoT) capabilities into industrial lighting systems provides valuable data analytics, enabling predictive maintenance and energy management. Furthermore, the rising emergence of lighting as a service (LaaS), in which lighting is provided as a service rather than a product, is contributing to the market growth. This model includes the design, installation, maintenance, and even the upgrading of lighting systems, allowing industries to access the latest lighting technologies without upfront capital investment. Additionally, the increasing emphasis on human-centric lighting (HCL) that adapts the intensity and color of light to align with human circadian rhythms, improving worker well-being and productivity, is supporting the market growth.
Global Industrial Lighting Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Acuity Brands Inc., Bajaj Electricals Ltd. (Bajaj Group), Dialight plc, Eaton Corporation PLC, Elba SA, Emerson Electric Co., GE Current a Daintree Company, LSI Industries Inc., OSRAM Opto Semiconductors GmbH (OSRAM GmbH), Panasonic Corporation, Wipro Lighting, Zumtobel Group, etc.
The report segmented the market on the basis of region, product type, light source, offering, type and application.
Breakup by Product Type:
- High/Low Bay Lighting
- Flood/Area Lighting
Breakup by Light Source:
- LED
- High-Intensity Discharge (HID) Lighting
- Fluorescent Lighting
Breakup by Offering:
- Lamps & Luminaries
- Control Systems
- Services
Breakup by Type:
- New Installation
- Replacement Installation
- Retrofit Installation
Breakup by Application:
- Warehouse & Cold Storage
- Factory & Production Lines
- Outer Premises
- Parking Areas
- Hazardous Locations
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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