Industrial Lighting Market 2021-2031
New Study Reports ” Industrial Lighting Market 2021 Global Opportunities, Challenges, Strategies and Forecasts 2031″ has been Added on PersistenceMarketResearch.
This report provides in depth study of “Industrial Lighting Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Industrial Lighting Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Drivers and Constraints
The fundamental dynamics that are explored in the report hold substantial influence over the Industrial Lighting market. The report further studies on the value, volume trends, and the pricing history of the market. In addition to it, various growth factors, restraints, and opportunities are also analyzed for the market to study the in-depth understanding of the market.
The global industrial lighting market is projected to reach a valuation of around US$ 17 Bn by 2031, expanding at a CAGR of close to 7% throughout the forecast period.
Rising global warming has forced governments and international organizations to come up with numerous regulations off late, including regulating the use of industrial lights. This has led to increased use of advanced energy-efficient lighting such as LEDs. LED luminaires can lead to around 50% energy cost savings as compared to HID lamps, and 30-40% as compared to fluorescent lights, due to which, industries are switching over to LED lighting in a big way. Increase in LED lighting demand will defiantly provide a boost to the requirement of industrial lighting.
Demand for industrial lighting witnessed a dip in 2020 due to the economic crisis caused by the COVID-19 pandemic. However, the pandemic later led to customer inclination toward online retail, and hence, demand for storage facilities from the e-Commerce industry saw an increase. This has surged the demand for industrial lighting as well.
The report has profiled some of the Important players prevalent in the global like – Emerson Electric Co, Signify Holding, OSRAM GmbH, GE Current, Panasonic Corporation, Hubbell Incorporated, and ACUITY BRANDS LIGHTING and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Industrial Lighting.
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Key Takeaways from Market Study
- To encourage the use of LED lighting, government organizations are starting incentive-based schemes.
- Labor cost reduction, cost-cutting technology, and energy savings are the reason companies are employing industry 4.0. Smart and connected industrial lighting will play a vital role in implementing and automating facilities.
- Leading players are focusing on development of technologically advanced lighting solutions with the implementation smart automation and IoT. These activities are expected to create high growth opportunities for industrial lighting manufacturers.
- Increasing number of small- and medium-sized regional manufacturers is expected to have a significant contribution to market growth over the years to come.
- In the present scenario, fluorescent lighting has a leading share in the market. However, LED lighting is expected to witness the highest growth rate and reach a dominant share in the market by the end of the forecast period.
- North America and Europe are expected to have leading market shares in the global market, owing to the presence of large industrial bases in the developed countries across these regions. However, the market in East Asia is expected to witness the highest growth rate on the back of rapid industrialization in countries from the region, including China and Japan.
“Increasing prominence of smart and connected industrial lighting and high demand for storage facilities from the online retail market are key factors driving demand,” says a Persistence Market Research analyst.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Industrial Lighting Market Manufacturers
Industrial Lighting Market Distributors/Traders/Wholesalers
Industrial Lighting Market Subcomponent Manufacturers
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View Table of Contents, Figures, and Tables@ https://www.persistencemarketresearch.com/market-research/industrial-lighting-market/toc
Major Highlights of the Industrial Lighting Market Report:
- The Industrial Lighting Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Industrial Lighting Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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