NEW YORK , Aug. 1, 2022 /PRNewswire/ -- The LED industrial lighting market size is forecasted to grow by USD 1.44 billion from 2020 to 2025. However, the growth momentum of the market will decelerate at a CAGR of 5.94% during the forecast period. Technavio segments the market by product (lamps and luminaires) and geography (APAC, Europe , North America , South America , and MEA). The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
Key points covered in the LED industrial lighting market study:
Market estimates and forecast 2021-2025
Key drivers, trends, and challenges impacting market growth
Segment-wise, region-wise, and country-wide analysis
Analysis of market share by vendors
Key product launches and regulatory climate
Post-COVID-19 impact on the market landscape. Download PDF Report Sample
Technavio categorizes the global LED industrial lighting market as a part of the global electrical components and equipment market within the global electrical equipment market. The parent market, the global electrical components, and the equipment market cover companies engaged in the manufacturing of electric cables and wires, electrical components, and electrical equipment.
The market is primarily driven by the phasing out of halogen, incandescent, fluorescent, and HID lamps. Halogen lamps consume more power than LEDs and have a larger carbon footprint. Hence, several countries have enforced bans on the use of halogen lamps to promote the growth of energy-saving technologies such as LEDs. For example, in June 2021 , the Department for Business, Energy and Industrial of the UK announced a ban on the sales of halogen lightbulbs in the UK from September 2021 , with an aim to cut over 1.25 million tons of carbon emissions per year. Moreover, many companies have stopped manufacturing halogen, fluorescent, and incandescent lights. These factors are driving the growth of the market.
The full report provides information on other drivers, trends, and challenges that are impacting the growth of the market. Request a Sample PDF Report
APAC will dominate the LED industrial lighting market with a 51% share during the forecast period. Factors such as the presence of several manufacturing facilities owned by numerous OEMs worldwide are driving the growth of the regional market. Besides, market growth in this region will be faster than the growth of the market in other regions. China and Japan are the key countries for the LED industrial lighting market in APAC.
The lamps product segment will generate maximum revenue in the LED industrial lighting market. The increasing number of regulations set forth by countries, which are limiting the use of traditional lighting and promoting the growth of LED lamps, is one of the major driving factors for the growth of the LED industrial market.
Identify major revenue-generating segments, regions, and key countries in the LED industrial lighting market. View our Sample Report
Some of the key players in the LED industrial lighting market include:
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LED Industrial Lighting Market Scope
Decelerate at a CAGR of 5.94%
APAC, Europe, North America, South America, and MEA
China, US, Japan, Germany, and UK
Leading companies, Competitive strategies, Consumer engagement scope
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, and Market condition analysis for the 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.
3.4 Market outlook: Forecast for 2020 - 2025
5.3 Lamps - Market size and forecast 2020-2025
5.4 Luminaires - Market size and forecast 2020-2025
7.3 APAC - Market size and forecast 2020-2025
7.4 Europe - Market size and forecast 2020-2025
7.5 North America - Market size and forecast 2020-2025
7.6 South America - Market size and forecast 2020-2025
7.7 MEA - Market size and forecast 2020-2025
11.2 Currency conversion rates for US$
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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