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 modern industrial environments' dynamic needs. Smart lighting systems integrate intelligent controls and advanced functionalities to optimize energy efficiency and performance. Utilizing sensors, wireless connectivity, and data-driven algorithms, these systems autonomously adjust lighting levels based on real-time occupancy data, optimizing energy consumption and ensuring adequate illumination for operational tasks. For instance, in a warehouse setting, a smart lighting system can optimize energy usage by dynamically adjusting illumination levels based on occupancy patterns. 

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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
• Offering
  • Lamps & luminaires
  • Control systems
  • Services
• Product
  • Industrial linear lighting
  • Spot lighting
  • Flood lighting/area lighting
  • High bay lighting
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • 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: 

• Rise in adoption of energy-efficient lighting technologies
• Increasing modernization and infrastructural development
• Increasing government initiatives to adopt energy-efficient lighting in industrial sector

However, the market also witnesses some limitations, which are as follows:

• High initial cost for industrial lighting solutions
• Rise in adoption of counterfeit products
• Sustainability issue in lighting industry

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Market Scope in Industrial Lighting Market Research Report

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Research Analysis Overview

The Industrial Lighting Market is witnessing significant growth due to the adoption of energy-efficient lighting solutions like LED light sources from companies such as Dialight Group and Signify. Their offerings, like the ProSite LED floodlight, are replacing traditional lighting options such as linear fluorescent lamps, metal halide lamps, incandescent bulbs, and fluorescent light bulbs. These new LED modules consume less energy and have longer lifespans, making them cost-effective for public organizations. The shift is driven by infrastructural development, energy efficiency regulations like Ecodesign, and the availability of alternative energy sources like natural gas and electricity. The penetration of LEDs in the market is increasing rapidly due to their low energy consumption and long-term cost savings. The ONS reports that this trend is expected to continue, making LEDs the preferred choice for industrial lighting solutions.

Market Research Overview

The Industrial Lighting Market is a significant segment of the larger Global Electrical Components and Equipment Market. This market encompasses businesses specializing in the manufacturing and sale of LED light sources, such as LED modules from companies like Signify, as well as traditional lighting technologies like Linear Fluorescent Lamps, Metal Halide Lamps, and Incandescent Bulbs from various industry players. Public organizations and businesses alike are increasingly adopting energy-efficient LED technology due to its longer lifespan and reduced energy consumption. Dialight Group is a notable player in this sector, providing innovative lighting solutions. The market size is determined by the combined revenue generated from manufacturers of various electrical equipment, including water heaters and accessories, motors, electrical distribution and protection equipment, and HVAC systems, among others. Additionally, rental and leasing of electrical components and equipment contribute to the market's growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/