NEW YORK, Oct. 13, 2021 /PRNewswire/ — The industrial lighting market size is expected to grow by USD 1.78 billion from 2021 to 2025. However, the growth momentum is likely to decelerate at a CAGR of 4.51% during this period. This market research report by Technavio offers key insights into the latest drivers, challenges, and trends, as well as an analysis of the best-performing regions and market segments.
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Drivers and Challenges
Technavio has identified the major drivers and challenges that impact the industrial lighting market. According to our research, strong government support is propelling market growth. However, factors such as the absence of global LED standardization may hamper the market during the forecast period.
Market Segmentation
The industrial lighting market has been segmented by geography into APAC, Europe, North America, South America, and MEA. During the forecast period, 50% of the market’s growth will originate from APAC, with China and Japan being the key countries
Based on type, the industrial lighting market has been segmented into LED technology and traditional technology.
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Some of the Key Vendors and their Offerings:
Technavio has identified key vendors operating in the market. These include Eaton Corp. Plc, IDEAL INDUSTRIES Inc., Legrand SA, LG Innotek Co. Ltd., Nichia Corp., OSRAM Licht AG, Panasonic Corp., Savant Systems Inc., Schneider Electric SE, and Signify NV. The key offerings of some of these vendors are mentioned below:
- Eaton Corp. Plc: The company provides a wide range of lighting products such as airfield lighting and control systems, floodlighting, and others.
- IDEAL INDUSTRIES Inc.: The company provides lighting products under the brand name Cree Lighting.
- Legrand SA: The company provides lighting management solutions that adhere to green building initiatives such as BREEAM, LEED, HQE, and GREEN STAR.
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Table of Content:
Industrial Lighting Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Decelerate at a CAGR of 4.51%
Market growth 2021-2025
USD 1.78 billion
Market structure
Fragmented
YoY growth (%)
7.07
Regional analysis
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 50%
Key consumer countries
China, US, Japan, Germany, and UK
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Eaton Corp. Plc, IDEAL INDUSTRIES Inc., Legrand SA, LG Innotek Co. Ltd., Nichia Corp., OSRAM Licht AG, Panasonic Corp., Savant Systems Inc., Schneider Electric SE, and Signify NV
Market Dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, future consumer dynamics, market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
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About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/
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SOURCE Technavio
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