The latest report by IMARC Group, titled “Industrial Lighting Market Report by Product Type (High/Low Bay Lighting, Flood/Area Lighting), Light Source (LED, High-Intensity Discharge (HID) Lighting, Fluorescent Lighting), Offering (Lamps & Luminaries, Control Systems, Services), Type (New Installation, Replacement Installation, Retrofit Installation), Application (Warehouse & Cold Storage, Factory & Production Lines, Outer Premises, Parking Areas, Hazardous Locations, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global industrial lighting market size reached US$ 9.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032.
Factors Driving the Growth of the Industrial Lighting Industry:
-
Increasing Emphasis on Regulatory Compliance:
Governments and regulatory bodies worldwide are enforcing stricter regulations on energy usage and environmental impact, including lighting standards, propelling the industrial lighting market. Compliance with these regulations often requires the adoption of more energy-efficient lighting solutions and may restrict certain lighting technologies with higher environmental impact. Industries are thus driven to adopt lighting solutions that meet regulatory requirements and contribute to broader sustainability objectives. This demand driven by compliance is reinforced by heightened societal expectations for businesses to operate responsibly and minimize their environmental footprint.
-
Demand for Energy Efficiency:
A primary driver of the industrial lighting market is the growing need for energy-efficient lighting solutions as industries seek to reduce energy consumption and operational costs. LED technology has transformed industrial lighting by offering products that consume significantly less energy and have a longer lifespan than traditional lighting solutions like incandescent and fluorescent lights. The resultant energy savings translate to cost reductions for businesses, making energy-efficient lighting solutions highly appealing. Additionally, governments worldwide are implementing regulations and providing incentives for energy-saving measures, further encouraging industries to embrace more efficient lighting technologies that promote cost savings while fulfilling corporate responsibility and reducing environmental impact.
-
Technological Advancements:
The industrial lighting market is propelled by rapid technological advancements, particularly in smart lighting and Internet of Things (IoT) integration. Smart lighting systems provide unprecedented control over lighting operations, allowing for real-time adjustments, scheduling, and predictive maintenance. These systems significantly enhance operational efficiency and safety in industrial environments by ensuring optimal lighting conditions and minimizing downtime. The integration of sensors and connectivity enables a more responsive and automated lighting environment, capable of adapting to diverse conditions and requirements without manual intervention. This level of control and flexibility is particularly beneficial in industries with variable lighting needs, such as manufacturing facilities or warehouses.
For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/industrial-lighting-market/requestsample
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
- 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
Industrial Lighting Market Report Segmentation:
By Product Type:
- High/Low Bay Lighting
- Flood/Area Lighting
Flood/area lighting represents the leading segment as it is designed to cast a wide spread of light, making it suitable for illuminating large areas.
By Light Source:
- LED
- High-Intensity Discharge (HID) Lighting
- Fluorescent Lighting
LED holds the largest market share due to superior energy efficiency, longevity, environmental friendliness, and robustness.
By Offering:
- Lamps & Luminaries
- Control Systems
- Services
Based on the offering, the market has been divided into lamps and luminaries, control systems, and services.
By Type:
- New Installation
- Replacement Installation
- Retrofit Installation
On the basis of the type, the market has been segmented into new installation, replacement installation, and retrofit installation.
By Application:
- Warehouse & Cold Storage
- Factory & Production Lines
- Outer Premises
- Parking Areas
- Hazardous Locations
- Others
Factory and production lines dominate the market as proper lighting is vital for the safety of the workers.
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
Asia Pacific’s dominance in industrial lighting market is attributed to the rising construction of various industrial projects.
Global Industrial Lighting Market Trends:
Presently, energy efficiency and sustainability are key drivers guiding industrial lighting decisions. Organizations are increasingly transitioning to energy-efficient LED lighting solutions to reduce energy consumption, lower operating costs, and minimize their carbon footprint. Additionally, there is a growing demand for sustainable lighting products made from eco-friendly materials and designed for recyclability. Moreover, the adoption of smart lighting solutions in industrial settings is on the rise, driven by advancements in IoT technology and the demand for connected lighting systems. Smart industrial lighting solutions offer features such as remote monitoring and control, dynamic lighting adjustments based on occupancy and daylight levels, and integration with building management systems for enhanced energy management and operational efficiency.
Browse the Full Report with TOC & List of Figures: https://www.imarcgroup.com/industrial-lighting-market
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
