Industrial Lighting Market Report: Trends, Forecast and Competitive Analysis to 2030

Industrial Lighting Trends and Forecast

The future of the global industrial lighting market looks promising with opportunities in the oil and gas, mining, pharmaceutical, manufacturing and warehouse market is expected to reach an estimated $11.95 billion by 2030 with a CAGR of 7.5% from 2024 to 2030. The major drivers for this market are increasing use at warehouses and logistics, rise in modernization and infrastructure development, and an expanding adoption of LED technology.

A more than 150-page report is developed to help in your business decisions.

Industrial Lighting by Segment

The study includes a forecast for the global industrial lighting by light source, product type, end use industry, and region.

Industrial Lighting Market by Light Source [Shipment Analysis by Value from 2018 to 2030]:

• LED
• HID
• Fluorescent

Industrial Lighting Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• High/Low Bay Lighting
• Flood/Area Lighting

Industrial Lighting Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Oil And Gas
• Mining
• Pharmaceutical
• Manufacturing
• Warehouse

Industrial Lighting Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Industrial Lighting Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies industrial lighting companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial lighting companies profiLED in this report include-

• Eaton
• CREE
• Cree
• Philips
• Acuity Brands Lighting

Industrial Lighting Market Insights

Lucintel forecasts that LED is expected to witness highest growth over the forecast period due to longevity, energy efficiency, low operational/maintenance costs, and the ability to deliver an increasingly shorter return on investment (ROI).

Within this market, oil and gas industry will remain the largest segment.

APAC is expected to witness highest growth over the forecast perioddue to swift urban expansion, robust economic growth, and growth in several industries across the region.

Features of the Global Industrial Lighting Market

Market Size Estimates: Industrial lighting market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Industrial lighting market size by light source, product type, end use industry, and region in terms of value ($B).

Regional Analysis: Industrial lighting market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different light source, product type, end use industry, and regions for the industrial lighting market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the industrial lighting market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the industrial lighting market size?

Answer: The global industrial lighting market is expected to reach an estimated $11.95 billion by 2030.

Q.2 What is the growth forecast for industrial lighting market?

Answer: The global industrial lighting market is expected to grow with a CAGR of 7.5% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the industrial lighting market?

Answer: The major drivers for this market are increasing use at warehouses and logistics, rise in modernization and infrastructure development, and an expanding adoption of LED technology .

Q4. What are the major segments for industrial lighting market?

Answer: The future of the industrial lighting market looks promising with opportunities in the high/low bay lighting and flood/area lighting markets.

Q5. Who are the key industrial lighting market companies?

Answer: Some of the key industrial lighting companies are as follows:

• Eaton
• CREE
• Cree
• Philips
• Acuity Brands Lighting

Q6. Which industrial lighting market segment will be the largest in future?

Answer: Lucintel forecasts that LED is expected to witness highest growth over the forecast period due to longevity, energy efficiency, low operational/maintenance costs, and the ability to deliver an increasingly shorter return on investment (ROI).

Q7. In industrial lighting market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast perioddue to swift urban expansion, robust economic growth, and growth in several industries across the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the industrial lighting market by light source (LED, HID, and fluorescent), product type (high/low bay lighting and flood/area lighting), end use industry (oil and gas, mining, pharmaceutical, manufacturing, and warehouse), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?