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Industrial Lighting Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR41000
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The industrial lighting market share is expected to increase by USD 3.76 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.81%.

This industrial lighting market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial lighting market segmentation by application (traditional technology and LED technology) and geography (APAC, Europe, North America, and South America). The industrial lighting market report also offers information on several market vendors, including Cree Inc., Eaton Corporation Plc, General Electric Co., Koninklijke Philips NV, Legrand SA, LG Innotek Co. Ltd., NICHIA Corp., OSRAM Gmbh, Panasonic Corp., and Schneider Electric among others.

What will the Industrial Lighting Market Size be During the Forecast Period?

Industrial Lighting Market Size

Download the Free Report Sample to Unlock the Industrial Lighting Market Size for the Forecast Period and Other Important Statistics

 

Industrial Lighting Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The strong government support is notably driving the industrial lighting market growth, although factors such as the absence of global-led standardization may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial lighting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Lighting Market Driver

Upcoming major events and infrastructure projects is the major driver fueling the growth of the industrial lighting market. In October 2017, the Saudi Arabian government announced the plan for building a $500 billion mega-city, which will be built across 26,500 square kilometers near the Red Sea. The mega-city plan is going to generate a huge demand for lighting, especially LED light bulbs, which help reduce energy. In January 2020, Panasonic Corp. announced that it has delivered stadium lights to the Osaka National Stadium in Japan. The Russian lighting market is seeing explosive growth in the LED market spurred by government initiatives to increase energy efficiency. The Russian Railway Corporation has planned to retrofit LED lights in all railway stations across Russia. Even the railway wagons are witnessing the installation of LED lights.

Key Industrial Lighting Market Trend

The emergence of Internet-connected lightbulbs is the major trend fueling the growth of the industrial lighting market. Manufacturers are now using semiconductors like LEDs and IoT architecture for powering smart lighting as an alternative to the generation of light with wires and gas inside a heated enclosure. The high growth potential of smart lighting is encouraging both existing vendors and start-ups to enter this market. A leading smart lighting company named iLumi Solutions, Inc. develops multicolor and tunable Bluetooth-enabled LED light bulbs. It entered the smart lighting market in 2011 and has raised over $200,000 through crowdfunding platforms, Indiegogo and Kickstarter. In 2012, LIFX entered the market and launched Wi-Fi-enabled, multi-colored LEDs that can be controlled via a smart device. LIFX does not require additional hardware and works with Nest Labs and other smart home devices to provide a comfortable and connected home experience. 

Key Industrial Lighting Market Challenge

High penetration of traditional lighting sources is the major hindrance to the growth of the industrial lighting market. Traditional lighting sources such as incandescent, LFL, CFL, and halogen lamps have high penetration in the industrial sector compared with LED lights because these light technologies were the first to enter the market. Thus, the adoption of LED lights will be low over the next two to three years. Sales of incandescent bulbs and high-power lighting sources will decline because of government initiatives. Government regulations will increase the sales of LED lamps due to their high efficiency and the low greenhouse effect.

This industrial lighting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global industrial lighting market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial lighting market during the forecast period.

Who are the Major Industrial Lighting Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Cree Inc.
  • Eaton Corporation Plc
  • General Electric Co.
  • Koninklijke Philips NV
  • Legrand SA
  • LG Innotek Co. Ltd.
  • NICHIA Corp.
  • OSRAM Gmbh
  • Panasonic Corp.
  • Schneider Electric

This statistical study of the industrial lighting market encompasses successful business strategies deployed by the key vendors. The industrial lighting market is fragmented and the vendors are deploying organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial lighting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial Lighting Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial lighting market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global electrical components and equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for Industrial Lighting Market?

Industrial Lighting Market Size

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52% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the industrial lighting market in APAC. Market growth in this region will be faster than the growth of the market in regions.

The upcoming smart cities will facilitate the industrial lighting market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Industrial Lighting Market?

Industrial Lighting Market Market segmentation by region

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The industrial lighting market share growth by the segments application segment will be significant during the forecast period. The adoption of LED technology worldwide is increasing at a rapid rate. The global general lighting market is seeing high growth in the use of LED components and LED-based luminaires by end-users. The major reasons for this tremendous growth are the energy-saving characteristics of LEDs, their decreasing cost, and compatibility with the existing lighting fixtures. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial lighting market size and actionable market insights on post COVID-19 impact on each segment.

 

Industrial Lighting Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.81%

Market growth 2020-2024

$ 3769.1 million

Market structure

Fragmented

YoY growth (%)

7.33

Regional analysis

APAC, Europe, North America, and South America

Performing market contribution

APAC at 52%

Key consumer countries

China, US, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Cree Inc., Eaton Corporation Plc, General Electric Co., Koninklijke Philips NV, Legrand SA, LG Innotek Co. Ltd., NICHIA Corp., OSRAM Gmbh, Panasonic Corp., and Schneider Electric

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Industrial Lighting Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial lighting market growth during the next five years
  • Precise estimation of the industrial lighting market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial lighting industry across APAC, Europe, North America, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial lighting market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 15: Type - Market share 2020-2025 (%)
    • 5.2 Comparison by Type
      • Exhibit 16: Comparison by Type
    • 5.3 LED technology - Market size and forecast 2020-2025
      • Exhibit 17: LED technology - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: LED technology - Year-over-year growth 2020-2025 (%)
    • 5.4 Traditional technology - Market size and forecast 2020-2025
      • Exhibit 19: Traditional technology - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Traditional technology - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 21: Market opportunity by Type

    6 Customer landscape

    • 6.1 Customer landscape
      • Exhibit 22: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 25: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 31: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Competitive scenario
          • 9.2 Vendor landscape
            • Exhibit 38: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 39: Landscape disruption
            • Exhibit 40: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 41: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 42: Market positioning of vendors
          • 10.3 Eaton Corp. Plc
            • Exhibit 43: Eaton Corp. Plc - Overview
            • Exhibit 44: Eaton Corp. Plc - Business segments
            • Exhibit 45: Eaton Corp. Plc - Key news
            • Exhibit 46: Eaton Corp. Plc - Key offerings
            • Exhibit 47: Eaton Corp. Plc - Segment focus
          • 10.4 IDEAL INDUSTRIES Inc.
            • Exhibit 48: IDEAL INDUSTRIES Inc. - Overview
            • Exhibit 49: IDEAL INDUSTRIES Inc. - Product and service
            • Exhibit 50: IDEAL INDUSTRIES Inc. - Key offerings
          • 10.5 Legrand SA
            • 10.6 LG Innotek Co. Ltd.
              • Exhibit 56: LG Innotek Co. Ltd. - Overview
              • Exhibit 57: LG Innotek Co. Ltd. - Product and service
              • Exhibit 58: LG Innotek Co. Ltd. - Key news
              • Exhibit 59: LG Innotek Co. Ltd. - Key offerings
            • 10.7 Nichia Corp.
              • Exhibit 60: Nichia Corp. - Overview
              • Exhibit 61: Nichia Corp. - Product and service
              • Exhibit 62: Nichia Corp. - Key offerings
            • 10.8 OSRAM Licht AG
              • Exhibit 63: OSRAM Licht AG - Overview
              • Exhibit 64: OSRAM Licht AG - Business segments
              • Exhibit 65: OSRAM Licht AG - Key offerings
              • Exhibit 66: OSRAM Licht AG - Segment focus
            • 10.9 Panasonic Corp.
              • Exhibit 67: Panasonic Corp. - Overview
              • Exhibit 68: Panasonic Corp. - Business segments
              • Exhibit 69: Panasonic Corp. - Key news
              • Exhibit 70: Panasonic Corp. - Key offerings
              • Exhibit 71: Panasonic Corp. - Segment focus
            • 10.10 Savant Systems Inc.
              • Exhibit 72: Savant Systems Inc. - Overview
              • Exhibit 73: Savant Systems Inc. - Product and service
              • Exhibit 74: Savant Systems Inc. - Key offerings
            • 10.11 Schneider Electric SE
              • Exhibit 75: Schneider Electric SE - Overview
              • Exhibit 76: Schneider Electric SE - Business segments
              • Exhibit 77: Schneider Electric SE - Key news
              • Exhibit 78: Schneider Electric SE - Key offerings
              • Exhibit 79: Schneider Electric SE - Segment focus
            • 10.12 Signify NV
              • Exhibit 80: Signify NV - Overview
              • Exhibit 81: Signify NV - Business segments
              • Exhibit 82: Signify NV - Key news
              • Exhibit 83: Signify NV - Key offerings
              • Exhibit 84: Signify NV - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 85: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 86: Research Methodology
                • Exhibit 87: Validation techniques employed for market sizing
                • Exhibit 88: Information sources
              • 11.4 List of abbreviations
                • Exhibit 89: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
              Get your sample now!
              Industrial Lighting market growth will increase by $3769.1 million during 2020-2024.
              The industrial lighting market is expected to grow at a CAGR of 7.81% during 2020-2024.
              Technavio has segmented the industrial lighting market by application (Traditional technology and LED technology) ,other 2 (APAC, Europe, North America, South America, and MEA) , and geographic (APAC, Europe, North America, and South America).
              Cree Inc., Eaton Corporation Plc, General Electric Co., Koninklijke Philips NV, Legrand SA, LG Innotek Co. Ltd., NICHIA Corp., OSRAM Gmbh, Panasonic Corp., Schneider Electric are a few of the key vendors in the industrial lighting market.
              APAC will register the highest growth rate of 51.7% among the other regions. Therefore, the industrial lighting market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the industrial lighting market growth are:
              • Strong government support
              • Advances in lighting technology
              The industrial lighting market vendors should focus on grabbing business opportunities from the traditional technology segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Details on the market shares of various regions
              • Five-force market analysis

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