Latest News- Industrial Lighting Market: LED technology is expected to lead the Type segment during 2025-2029
The Industrial Lighting Market is being driven by Rise in adoption of energy-efficient lighting technologies
The Industrial Lighting Market is expected to grow at a CAGR of 5.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2826.3 million. The industrial lighting market is undergoing significant transformation due to technological advancements, introducing innovative solutions such as smart lighting systems and connected lighting controls. These systems offer enhanced capabilities, operational efficiencies, and adaptive functionalities, catering to the dynamic needs of modern industrial environments. Smart lighting systems, in particular, integrate intelligent controls and advanced functionalities to optimize energy efficiency and operational performance. Utilizing integrated sensors, wireless connectivity, and data-driven algorithms, these systems dynamically adjust lighting levels, respond to occupancy patterns, and maximize energy savings. For instance, in a warehouse facility, a smart lighting system can autonomously adjust illumination levels based on real-time occupancy data, ensuring optimal energy consumption and adequate lighting for operational tasks.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (LED technology, Traditional technology) Application (New installation, Replacement installation, Retrofit installation) Geography (APAC, Europe, North America, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Industrial Lighting Market Research Report
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The Industrial Lighting Market is witnessing significant growth with the adoption of energy-efficient LED Light Source from companies like Dialight Group and Signify. Their offerings, such as the ProSite LED floodlight, are replacing traditional lighting sources like linear fluorescent lamps, metal halide lamps, and incandescent bulbs. Public organizations are shifting towards LED modules due to their longer lifespan, energy efficiency, and low energy consumption. The transition is driven by regulations like Ecodesign and the infrastructural development of the energy sector, moving away from natural gas and towards electricity. The ONS reports that energy-efficient lighting solutions are reducing energy consumption and increasing efficiency, with LED bulbs, including LED modules, having a higher penetration than fluorescent and halogen light bulbs.
The Industrial Lighting Market is a significant segment of the larger global electrical components and equipment market. This market encompasses companies specializing in the production of LED light sources, such as LED modules, as well as traditional lighting technologies like Linear fluorescent lamps, Metal halide lamps, and Incandescent bulbs. Key players in this sector include Dialight Group. The parent market, which includes manufacturers of electrical components, electrical equipment, and related accessories, generates substantial revenue from various segments like water heaters and accessories, motors, automation solutions, electrical distribution and protection equipment, and HVAC. Additionally, rental and leasing of electrical components and equipment to industrial, commercial, and residential sectors contribute to the market size calculation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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