Industrial Lighting Market

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MarketsandMarkets Research Private Ltd.
Presents
Industrial Lighting Market worth 13.17 Billion
USD by 2023 with a growing CAGR of 7.82
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The report "Industrial Lighting Market by Light
Source (LED, HID, Fluorescent), Offering (Lamps
Luminaires, Control Systems, Services),
Installation Type (New, Replacement, Retrofit),
Product, Application, and Geography - Global
Forecast to 2023", The industrial lighting market
is expected to be worth USD 13.17 Billion by
2023, growing at a CAGR of 7.82 between 2017 and
2023. Browse gtgt 70 Market
data tables 58 figures
164 pages and in-depth TOC on
Industrial Lighting Market https//www.market
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-market-123080765.html Early buyers will
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report. https//www.marketsandmarkets.com/PressR
eleases/industrial-lighting.asp
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The growth of this market is driven by the
factors such as increasing modernization and
infrastructural development, growing penetration
of LEDs across diversified industrial
applications due to reducing price, durability of
LED lights for industrial usage, and low energy
consumption by LEDs. Lamps and luminaires
expected to lead the overall industrial lighting
market The lamps and luminaires segment is
expected to hold the largest share of the overall
industrial lighting market during the forecast
period. The highest share of the lamps and
luminaires segment is attributed to the rapid
penetration of LED lighting and the corresponding
demand for technologically advanced LED lighting
fixtures. Moreover, the benefits such as less
power consumption, high efficiency, and
comparatively longer life span associated with
LEDs would drive the growth of the industrial
lighting market for the lamps and luminaires
segment during the forecast period. The market
for LED lighting to grow at the highest rate
during the forecast period The market for LED
lighting is expected to grow at the highest rate
between 2017 and 2023. LED lighting has the
potential to reduce the amount of energy consumed
in lighting applications. Moreover, LED has now
evolved as a major lighting technology with a
longer life, greater durability, flexibility,
energy efficiency, and nontoxicity compared with
other lighting solutions.
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APAC held the largest share of the industrial
lighting market in 2016 Asia Pacific (APAC) held
the largest share of the industrial lighting
market in 2016 owing to the high industrial and
infrastructure development in the region and the
need for energy-efficient lighting technologies
across the industrial applications segment
including warehouse and cold storage, factory and
production lines, and parking spaces. The key
players operating across the value chain of the
industrial lighting market are Philips Lighting
Holding B.V. (Netherlands), Hubbell Lighting,
Inc. (US), Emerson (US), Legrand (France), Acuity
Brands Lighting, Inc. (US), TOYODA GOSEI Co., Ltd
(Japan), Cree, Inc. (US), General Electric (US) ,
Osram Licht AG (Germany), and Zumtobel Group
(Austria).
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ndustrial-lighting.asp
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