Asia-Pacific Lighting Contactor Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Electrically Held and Mechanically Held), End-User (Commercial, Residential, and Industrial), and Application (Indoors and Outdoors)
The lighting contactor market in APAC is expected to grow from US$ 217.40 million in 2022 to US$ 377.87 million by 2028. It is estimated to grow at a CAGR of 9.7% from 2022 to 2028.
Government Initiatives to Fuel Lighting Contactor Uptake
The governments of countries all over the region are introducing various initiatives. For instance, the Australian government is encouraging citizens to replace halogen lights with LEDs. According to the Department of Climate Change, Energy, the Environment and Water, the Government of Australia, if households replace 10 halogen bulbs with LEDs, they can save up to US$ 650 in 10 years on electricity bills. Furthermore, the Government of India’s ‘Street Light National Programme (SLNP)’ is the world’s largest streetlight replacement program, under which over 1.3 million smart LED lights have been installed as of 2020. Such government initiatives will increase the installation of lights and, consequently, the demand for lighting contactors over the forecast period.
The presence of emerging economies and the rise in the uptake of advanced and sophisticated technologies is contributing to the overall growth of APAC. Australia, China, Japan, and India are the main contributors to the development of the lighting contactor. To implement technologically advanced solutions across different sectors in the country, rapid technological developments, digitalization of economies, and adequate government support contribute to the smooth evolution of these economies from the developing stage to the developed stage. The integration of IoT enables the remote control of lighting fixtures using smartphones. Further, LEDs are integrated with healthy lighting technology to reduce heat and UV emissions. In medical facilities, healthy light technology is used to assist patients in relaxing during critical surgeries and speed up recovery. Governments of a few Asian Pacific countries promote energy-efficient lighting solutions. The primary factors driving the APAC lighting contactors market are rising awareness about energy-efficient products such as compact fluorescent lamps (CFLs) and light-emitting diodes (LEDs), technological developments, and supporting government policies.
APAC Lighting Contactor Market Revenue and Forecast to 2028 (US$ Million)
APAC Lighting Contactor Market Segmentation
The APAC lighting contactor market is segmented into type, end user, application, and country. Based on type, the market is segmented into electrically held and mechanically held. The electrically held segment registered a larger market share in 2022.
Based on end-user, the APAC lighting contactor market is segmented into commercial, residential, and industrial. The commercial segment registered the largest market share in 2022. Based on application, the APAC lighting contactor market is segmented into indoor and outdoor. The indoor segment registered a larger market share in 2022. Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. China dominated the market share in 2022. ABB Ltd.; Eaton; Hager Group; Hitachi Industrial Equipment Systems Co., Ltd; Ripley Lighting Controls; Rockwell Automation, Inc.; Schneider Electric SE; and Siemens AG are the leading companies operating in the lighting contactor market in the region.
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Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the lighting contactor market, as well as those hindering it
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