Global Industrial Lighting Market 2017-2021
About Industrial Lighting
The lighting industry includes general lighting, automotive lighting, and backlighting. The general lighting market is the major revenue-generating segment, followed by automotive lighting and backlighting. The general lighting market includes lighting applications for residential, industrial, commercial, outdoor, and architectural purposes. The residential and commercial segments are the major drivers for the general lighting market. General lighting can be either traditional or LED lighting. Traditional lighting is categorized into linear fluorescent lamps (LFLs), compact fluorescent lamps (CFLs), and others which include incandescent bulbs, halogens, and high-intensity discharge (HID) lights. The traditional lighting market will observe a decline in sales due to the rising popularity of LED technology.
Technavio’s analysts forecast the global industrial lighting market to grow at a CAGR of 2.18% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial lighting market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of industrial lighting.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Lighting Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial lighting market: GE Lighting, Cree, LG Innotek, Philips, OSRAM, Panasonic, and Schneider Electric
Other Prominent Vendors in the market are: Acuity Brands, Advanced Lighting Technologies, Bridgelux, Citizen Electronics, Eaton Lighting, Dialight, Kingsun LED lighting, Energy Focus, Everlight Electronics, Intematix, LEEDARSON LIGHTING, Lemnis Lighting, Luminus Devices, Nichia, NVC Lighting Technology, Seoul Semiconductor, and Toyoda Gosei
Commenting on the report, an analyst from Technavio’s team said: “The market is seeing rapid advances in lighting technologies. For example, in the residential sector, incandescent, CFL, and halogen lighting technologies dominated the market in terms of revenue contribution in 2015. We expect that LEDs will emerge as the major revenue contributor in the residential sector during the forecast period. The technological transitions in the market are moving toward product enhancements aimed at better efficiency and power-saving capabilities. These technological transitions in the market will also force vendors to be more responsive to the technological needs of the customers.”
According to the report, strong government support is one of the major factors driving the growth in the global industrial lighting market. The Chinese government is looking at reducing power generation from coal plants, expanding the nuclear power generation base, encouraging green technologies in all areas of manufacturing and promoting efficient lighting technologies to reduce power consumption. The government plans to provide subsidies to LED lighting manufacturers to scale up and encourage the production of innovating lighting solutions. All these government efforts are focusing on increasing the adoption of LEDs in the domestic market, which, in turn, will increase the growth prospects of the market during the forecast period.
Further, the report states that a number of countries have passed stringent legislation for the use of energy-efficient technologies. The specifications and standards for LED lighting vary in different countries. As there is no single international standard for LED lighting, it acts as a hurdle for vendors as they need to qualify the standards for the countries where they want to do business. This prevents the vendors from entering the foreign markets. There is also a lack of industry-wide dimming standards for LED lighting. This can adversely affect the adoption rate of LED lighting products.
GE Lighting, Cree, LG Innotek, Philips, OSRAM, Panasonic, Schneider Electric, Acuity Brands, Advanced Lighting Technologies, Bridgelux, Citizen Electronics, Eaton Lighting, Dialight, Kingsun LED lighting, Energy Focus, Everlight Electronics, Intematix, LEEDARSON LIGHTING, Lemnis Lighting, Luminus Devices, Nichia, NVC Lighting Technology, Seoul Semiconductor, Toyoda Gosei.
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