LED Industrial Lighting Market by Type and Geography - Forecast and Analysis 2021-2025
- Published: Sep 2021
- Pages: 120
- SKU: IRTNTR44857
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The LED industrial lighting market share is expected to increase by USD 1.44 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 5.94%.
This LED 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 LED industrial lighting market segmentations by product (lamps and luminaires) and geography (APAC, Europe, North America, South America, and MEA). The LED industrial lighting market report also offers information on several market vendors, including Acuity Brands Inc., Bridgelux Inc., Cree Lighting, Dialight Plc, Eaton Corp. Plc, Hubbell Inc., Koninklijke Philips NV, OSRAM GmbH, Wipro Ltd., and Zumtobel Group AG among others.
What will the LED Industrial Lighting Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the LED Industrial Lighting Market Size for the Forecast Period and Other Important Statistics
LED 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 phasing out halogen, incandescent, fluorescent, and hid lamps is notably driving the LED industrial lighting market growth, although factors such as high cost of implementing LEDs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the LED 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 LED Industrial Lighting Market Driver
One of the key factors driving the LED industrial lighting market growth is the phasing out halogen, incandescent, fluorescent, and HID lamps. Several countries across the globe have placed bans on the use of halogen lamps to promote the growth of LEDs for their inherent energy-saving feature. Halogen lamps consume much more power than LEDs; they also have a larger carbon footprint. Several companies have stopped the manufacturing of halogen, fluorescent, and incandescent lights due to the increasing adoption of LEDs across the globe. Moreover, government bodies in various countries are focusing on phasing out halogen lights to reduce carbon emissions. For example, in June 2021, the Department for Business, Energy and Industrial of the UK announced to ban the sales of halogen lightbulbs in the UK market from September 2021, with an aim to cut over 1.25 million tons of carbon emissions per year. Thus, the phasing out of halogen, incandescent, and fluorescent lamps is expected to fuel the growth of the global LED industrial lighting market during the forecast period.
Key LED Industrial Lighting Market Trend
Increasing interest in CSP LED lighting for industrial applications is the major trend influencing LED industrial lighting market growth. CSP LED lighting module is an LED module in which a single chip has a direct-mountable package, which is the same size as the chip. The use of CSP LEDs for high-bay and low-bay lighting is further garnering more attention as they are small in size and provide high illumination levels. Spotlights are strong, focused lights that are used to illuminate a particular spot for making an object or a person conspicuous from the surroundings. CSP LED lighting modules can also be used for spotlights, mainly because CSP LEDs can provide much brighter light and take up a fraction of the space required for installing the luminaires. This is possible as CSP LED lighting modules are almost the same size as the chip and do not have any bulky exterior packaging. Hence, there will be an increasing interest in adopting CSP technology for the manufacturing of LED lights to be used extensively for industrial lighting applications.
Key LED Industrial Lighting Market Challenge
High cost of implementing LEDs is one of the key challenges hindering the LED industrial lighting market growth. The initial cost required to integrate LED lighting into manufacturing plants and production facilities is exorbitant. This prevents firms from integrating LEDs into their plants, and these firms prefer other types of lighting such as CFL, LFL, and HID. These end-users prefer the use of traditional lighting sources over LEDs as they have a lower initial cost.The assembly process for an LED is carried out manually as it is a complicated procedure. A clearly defined standard procedure for manufacturing LEDs on machines has not been developed. LEDs require a conducting material, usually aluminum, to dissipate heat, which can cost over $3. The addition of external LED drivers (if required) further adds to the cost. Although LEDs are more efficient and have a better and higher ROI, high initial investments limit the growth opportunities of the global LED industrial lighting market. Thus, end-users prefer to use HIDs, which can meet immediate lighting requirements at a fraction of the cost.
This LED 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 LED 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 LED industrial lighting market during the forecast period.
Who are the Major LED Industrial Lighting Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Acuity Brands Inc.
- Bridgelux Inc.
- Cree Lighting
- Dialight Plc
- Eaton Corp. Plc
- Hubbell Inc.
- Koninklijke Philips NV
- OSRAM GmbH
- Wipro Ltd.
- Zumtobel Group AG
This statistical study of the LED industrial lighting market encompasses successful business strategies deployed by the key vendors. The LED industrial lighting market is fragmented and the vendors are adopting organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Acuity Brands Inc. - The company offers led industrial lighting products such as Linear high bays, low bays, strip lights and others.
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 LED 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.
LED Industrial Lighting Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the LED 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 report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for LED Industrial Lighting Market?
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51% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for LED industrial lighting market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The presence of several manufacturing facilities owned by numerous OEMs worldwide will facilitate the LED 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.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 in the region forced various manufacturing facilities in APAC to temporarily shut down, which resulted in reduced revenue for several companies. This led to the postponement of the expansion and renovation of manufacturing facilities in APAC, thereby reducing the demand for LED industrial lighting during the forecast period. However, the initiation of large-scale vaccination drives and the lifting of lockdown restrictions in the first half of 2021 led to the resumption of industrial operations in the region.
What are the Revenue-generating Product Segments in the LED Industrial Lighting Market?
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The LED industrial lighting market share growth by the lamps will be significant during the forecast period. One of the key reasons for the growth of this segment is the increasing number of regulations set forth by countries, which are limiting the use of traditional lighting and promoting the growth of LED lamps.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the LED industrial lighting market size and actionable market insights on post COVID-19 impact on each segment.
LED Industrial Lighting Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 5.94%
Market growth 2021-2025
$ 1.44 billion
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 51%
Key consumer countries
China, US, Japan, Germany, and UK
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiLED
Acuity Brands Inc., Bridgelux Inc., Cree Lighting, Dialight Plc, Eaton Corp. Plc, Hubbell Inc., Koninklijke Philips NV, OSRAM GmbH, Wipro Ltd., and Zumtobel Group AG
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this LED Industrial Lighting Market Report?
- CAGR of the market during the forecast period 2021-2025
- DetaiLED information on factors that will drive LED industrial lighting market growth during the next five years
- Precise estimation of the LED 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 LED industrial lighting industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market's competitive landscape and detaiLED information on vendors
- Comprehensive details of factors that will challenge the growth of LED industrial lighting market vendors
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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: Electrical components and equipment
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 Product
- 5.1 Market segments
- Exhibit 15: Product - Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Lamps - Market size and forecast 2020-2025
- Exhibit 17: Lamps - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Lamps - Year-over-year growth 2020-2025 (%)
- 5.4 Luminaires - Market size and forecast 2020-2025
- Exhibit 19: Luminaires - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Luminaires - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Product
- Exhibit 21: Market opportunity by Product
6 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
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 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
- 9.3 Competitive scenario
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 Acuity Brands Inc.
- 10.4 Bridgelux Inc.
- Exhibit 47: Bridgelux Inc. - Overview
- Exhibit 48: Bridgelux Inc. – Business segments
- Exhibit 49: Bridgelux Inc. - Key offerings
- 10.5 Cree Lighting
- Exhibit 50: Cree Lighting - Overview
- Exhibit 51: Cree Lighting - Business segments
- Exhibit 52: Cree Lighting – Key news
- Exhibit 53: Cree Lighting - Key offerings
- Exhibit 54: Cree Lighting - Segment focus
- 10.6 Dialight Plc
- Exhibit 55: Dialight Plc - Overview
- Exhibit 56: Dialight Plc - Business segments
- Exhibit 57: Dialight Plc - Key news
- Exhibit 58: Dialight Plc - Key offerings
- Exhibit 59: Dialight Plc - Segment focus
- 10.7 Eaton Corp. Plc
- Exhibit 60: Eaton Corp. Plc - Overview
- Exhibit 61: Eaton Corp. Plc - Business segments
- Exhibit 62: Eaton Corp. Plc – Key news
- Exhibit 63: Eaton Corp. Plc - Key offerings
- Exhibit 64: Eaton Corp. Plc - Segment focus
- 10.8 Hubbell Inc.
- Exhibit 65: Hubbell Inc. - Overview
- Exhibit 66: Hubbell Inc. - Business segments
- Exhibit 67: Hubbell Inc. - Key offerings
- Exhibit 68: Hubbell Inc. - Segment focus
- 10.9 Koninklijke Philips NV
- Exhibit 69: Koninklijke Philips NV - Overview
- Exhibit 70: Koninklijke Philips NV - Business segments
- Exhibit 71: Koninklijke Philips NV – Key news
- Exhibit 72: Koninklijke Philips NV - Key offerings
- Exhibit 73: Koninklijke Philips NV - Segment focus
- 10.10 OSRAM GmbH
- Exhibit 74: OSRAM GmbH - Overview
- Exhibit 75: OSRAM GmbH - Business segments
- Exhibit 76: OSRAM GmbH - Key offerings
- Exhibit 77: OSRAM GmbH - Segment focus
- 10.11 Wipro Ltd.
- Exhibit 78: Wipro Ltd. - Overview
- Exhibit 79: Wipro Ltd. - Business segments
- Exhibit 80: Wipro Ltd. – Key news
- Exhibit 81: Wipro Ltd. - Key offerings
- Exhibit 82: Wipro Ltd. - Segment focus
- 10.12 Zumtobel Group AG
- Exhibit 83: Zumtobel Group AG - Overview
- Exhibit 84: Zumtobel Group AG - Business segments
- Exhibit 85: Zumtobel Group AG - Key offerings
- Exhibit 86: Zumtobel Group AG - Segment focus
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 87: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 88: Research Methodology
- Exhibit 89: Validation techniques employed for market sizing
- Exhibit 90: Information sources
- 11.4 List of abbreviations
- Exhibit 91: List of abbreviations
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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- phasing out halogen, incandescent, fluorescent, and HID lamps
- Increasing interest in CSP LED lighting for industrial applications
Key Questions Answered
- 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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