As per the latest report by IMARC Group, titled "Industrial Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global industrial lighting market size reached US$ 8.9 Billion in 2022. Industrial lighting provides adequate illumination and enhances safety and productivity in various industrial settings. It is made using advanced technology and durable materials and is designed to withstand harsh environments and meet specific lighting requirements. It typically consists of high-quality components such as robust housings, efficient light sources, and reliable control systems. Industrial lighting converts electrical energy into light through various mechanisms, including incandescent, fluorescent, light-emitting diode (LED), or high-intensity discharge (HID) technologies. Each lighting technology offers distinct advantages, such as energy efficiency, long lifespan, high brightness, and improved color rendering. One of the key advantages of industrial lighting is its ability to enhance worker safety. Well-illuminated work areas reduce the risk of accidents and injuries caused by poor visibility. It also promotes visual acuity, reducing eye strain and fatigue among workers, thereby boosting productivity.
Global Industrial Lighting Market Trends:
The global industrial lighting market is influenced by a multitude of factors, including the increasing focus on energy efficiency and sustainability in industrial operations. This is further supported by the stringent regulations and initiatives by governments of various nations promoting the use of energy-efficient lighting. Moreover, the rising industrialization and urbanization across the globe have led to the expansion of industrial infrastructures, consequently driving the demand for reliable and high-quality lighting systems. Additionally, advancements in lighting control systems and smart technologies have enabled better energy management and enhanced operational efficiency, thus fostering the market growth. Besides this, the escalating awareness about the negative impacts of inadequate lighting on productivity, safety, and employee well-being and the rapid adoption of the internet of things (IoT) and connected lighting systems in industrial facilities are significantly contributing to the market growth. Furthermore, the emergence of smart cities and the ongoing trend of retrofitting existing industrial infrastructures with energy-efficient lighting systems are accelerating the market growth. In line with this, the declining prices of LED lighting products and the easy availability of cost-effective solutions are positively influencing the market growth. Other factors, including the integration of lighting with other smart technologies, such as sensors and controls, and the increasing focus on enhancing workplace safety and productivity, are propelling the market growth. Looking forward, the market value is projected to reach US$ 12.0 Billion by 2028, expanding at a CAGR of 4.95% during 2023-2028.
- By the product type, the market is bifurcated into high/low bay lighting and flood/area lighting.
- Based on the light source, the market is divided into LED, high-intensity discharge (HID) lighting, and fluorescent lighting.
- By the offering, the market is segmented into lamps & luminaries, control systems, and services.
- Based on the type, the market is subdivided into new, replacement, and retrofit installation.
- On the basis of the application, the market is segregated into warehouse & cold storage, factory & production lines, outer premises, parking areas, hazardous locations, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined with some of the key players being 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 and Zumtobel Group.
|Base Year of the Analysis
||Product Type, Light Source, Offering, Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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 and Zumtobel Group.
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