Industrial Lighting Market

Global Market Study on Industrial Lighting: Implementation of Smart & Connected Lighting Solutions to Augment Market Growth

Industrial Lighting Market Segmented By LED Industrial Lighting, High Intensity Discharge (HID) Industrial Lighting, Fluorescent Industrial Lighting Type with New, Replacement and Retrofit Installation

About the Report

Demand for industrial lighting has witnessed substantial growth in the last decade, and this trend is projected to continue at a rapid pace over the coming years as well, owing to increasing use at warehouses and for logistics, industrial establishments, etc., across the globe.

Moreover, industrial lighting usage has grown not just in terms of application in these broad fields of end use but also due to technological advancements in them. Over the years, as industrial automation in various sectors has gained momentum, coupled with labor shortage and the need to reduce labor costs, more industry owners are relying on smart industrial lighting as an investment with long-term financial gains in mind.

In its new study, Persistence Market Research offers insights about key factors fueling demand for industrial lighting. The report tracks global sales in 20+ high-growth markets, where East Asia, by far, leads the way, followed by North America. The report also analyzes the impact of COVID-19 on the market.

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Companies

  • Signify Holding
  • Emerson Electric Co
  • OSRAM Opto Semiconductors GmbH
  • GE Current, a Daintree company
  • Panasonic Corporation
  • Hubbell Incorporated
  • ACUITY BRANDS LIGHTING
  • Havells India Ltd
  • Iwasaki Electric Co. Ltd.
  • Wipro Consumer Care and Lighting
  • Bajaj Electricals Limited
  • Elba SA
  • Haneco Lighting Australia Pty Ltd.
  • CREE EUROPE S.R.L A S.U
  • LSI Industries Inc.
  • Luxon Sp. z o.o

What is the Future Outlook on Industrial Lighting in Comparison to Historic Sales?

In earlier times, the market was dominated by high intensity discharge lighting for heavy duty usage, but as industries developed, this lighting proved to be inefficient in terms of electricity consumption (it takes 20-25 minutes for HIDs to run at full power after starting), low flexibility, usage of toxic substance, high maintenance, etc.

However, the market gained pace with the entry of advances products such as LEDs, and the availability of these products became easier for end users across the globe. Manufactures have increased production capabilities and are encouraged by Industry 4.0 and energy and resource savings, which led the market for industry lighting to expand at a CAGR of over 3% during the last 5 years.

Research & development in industrial lighting is anticipated to make significant contribution to market growth over the years to come. Several other new features by existing as well as emerging companies are likely to attract customers from other domains of the industry.

Owing to the ongoing crisis caused by COVID-19, production and supply chain activities witnessed a slump in 2020. Yet, consumption will improve with economic recovery post-pandemic. However, looking at the silver lining, the outbreak of COVID-19 had a positive effect on the demand for industrial lighting.

JLL, a private real estate service provider in the U.S. projected that the country needs another 100 million square feet of cold-storage facilities just to keep up with consumer demand and sales trends from e-Commerce, and this trend is not limited just to the U.S. Customer preference is inclining toward online shopping, thanks to pandemic. Increase in storage facilities will surge demand for industrial lighting across regions.

Persistence Market Research expects the global industrial lighting market to expand at close to 7% CAGR through 2031.

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What is the Commercial Potential of Industrial Lighting?

Industrial lighting is mostly used in warehouses & cold storage and factory & production lines. Earlier, industrial lighting use was limited to provide illumination to the workspace, but in the 21st century, with the spark of the Fourth Industrial Revolution (Industry 4.0), industrial lighting manufacturers are focusing on providing smart, connected, and sustainable products.

With the use of advanced technologies such as AI & IoT, combined with sensors embedded in LEDs, end users have the ability to monitor and adjust lighting intensity (manual and automated sensing through movements) and perform regular remote maintenance and collect data for future reference.

Competitive price offerings and rise in end user satisfaction based on the performance and use of advanced technologies are the end results of R&D activities. Moreover, establishing sales and service facilities in emerging countries coupled with long-term partnerships with regional distributors are also paving the way for the expansion of channel reach.

Industrial Lighting Market

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A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

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Country-wise Insights

Why is Japan a Matured Market for Industrial Lighting?

Persistence Market Research has projected Japan to remain one of the most lucrative markets in the East Asia region for industrial lighting throughout the course of the forecast period. One of the key factors supporting this is the prevalence of a large number of manufacturers and increasing production facilities in the country, leading to more process and industrial automation.

Japan has seen an increase in the number of production and factory lines. The country is home to some of the top players in the industry, such as Panasonic, Iwaskai Electric, etc.

Can India Be a New Hotspot for Industrial Lighting Manufacturers?

India could emerge as a new hotspot for industrial lighting. Leading global manufacturers are searching for new locations to shift their manufacturing bases to the Asia Pacific region in order to cater to increasing demand due to rapid industrialization.

Moreover, the Indian Government has launched a number of schemes for foreign investment in the country, which creates positive growth prospects for the market in India. Increasing prominence of industrial automation with the implementation of smart technologies are expected to fuel market growth in India.

How are Strict Regulations Surging Industrial Lighting Sales in Germany?

The European Commission has banned the usage of mercury lamps to cut EU's CO2 emissions by more than 40 megatons and electricity use to 138 TWh by 2030. This has led to increase in demand for LEDs. This creates substantial opportunities for industrial lighting manufacturers to provide LEDs with advanced technologies.

Also demand from the pharmaceutical industry will provide additional boost to the market. For instance, a new site has been approved for the production of Comirnaty, the COVID-19 vaccine developed by BioNTech and Pfizer. The facility, which is in the German city of Marburg, will produce both, active substances and the finished product.

What’s Driving Sales of Industrial Lighting in the U.S.?

Over the last few years, modern and improved designs that require small or no support have been propelled by various market players, on back of significant sales of industrial lighting in the U.S. Manufacturers are focusing on the development of products that are long-lasting and require less support amid the tenure of their utilization.

The U.S. too has various small to medium producers, and great reachability for aftersales benefit from them makes the nation a driving force for industrial lighting.

Boom in e-Commerce and demand from the pharma industry for vaccine and anti-viral drug production will also create significant opportunities for the market over the forecast period.

What Makes China a Leading Market for Industrial Lighting?

China has one of the largest manufacturing and storage facilities area around the globe, and is anticipated have a leading share in the industrial lighting market. Leading global players have their manufacturing sites in China, which results in high growth rate for the country. Moreover, substantial increase in small- and medium-scale regional players and expansion of their low-cost products across the globe are providing high growth virtues for market growth in China.

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Category-wise Insights

Which End User Drives Most Demand for Industrial Lighting?

The market share of industrial lighting from warehouses and cold storages is significant. This segment accounts for more than one-third of the market share. The global crisis caused by the COVID-19 pandemic has resulted in shifting customer shopping preferences towards e-Commerce.

This shift has increased the number of storage facilities such as warehouses and other production facilities for the storage of products. e-Commerce will play a crucial role in increasing warehouse and storage facilities, thereby heightening demand for industrial lighting.

Which Application of Industrial Lighting is Most Popular?

Industrial lighting across used in various fields such warehouses & logistics, industrial and production facilities, parking lots, hazardous locations, etc., for illumination. The most popular application amongst these is flood lighting/area lighting.

Since the invention of these lightings, they have been a dominant end use. The flood/area type lighting segment is expected to expand at a significant CAGR owing to heavy-duty use, moisture resistance, and other beneficial features.

Which Technology Will Hold a Prominent Market Share?

Looking toward supply-side trends, large market players are focused on developing LED lighting. Manufacturers are focusing more on advancements in these devices, thereby boosting sales across regions.

LEDs are the most advanced industrial lighting at present in the market. Prominent advantages are energy efficiency and environment safety. Even governments are actively regulating the use of industrial lighting in order to curb carbon emissions, owing to which, usage of LEDs is rising. LEDs also have other advantages over conventional lighting such as flexibility, durability, high luminous intensity at same wattage, etc.

Competitive Landscape

The industrial lighting market is moderately competitive in nature, with the presence of a large number of players operating in this space. Some players are focusing on gaining the attention of a specific demography. The market sees robust partnerships throughout the value chain, with high focus on innovation.

Manufacturers are aiming at strategic collaborations with end users and regional distributors to address the requirements of an expanding customer base. Brand consciousness and aggressive marketing make it challenging for new entrants in this space.

Some of the leading companies operating in this space are:

  • Emerson Electric Co
  • Signify Holding
  • OSRAM Opto Semiconductors GmbH
  • GE Current, a Daintree company
  • Panasonic Corporation
  • Hubbell Incorporated
  • ACUITY BRANDS LIGHTING
  • LSI Industries Inc.
  • Wipro Consumer Care and Lighting
  • Bajaj Electricals Limited
  • Wipro Lighting
  • Iwasaki Electric Co. Ltd.
  • Elba SA

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • the Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Oceania
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Type
  • Application
  • Installation
  • End User
  • Region

Key Companies Profiled

  • Emerson Electric Co
  • Signify Holding
  • OSRAM Opto Semiconductors GmbH
  • GE Current, a Daintree company
  • Panasonic Corporation
  • Hubbell Incorporated
  • ACUITY BRANDS LIGHTING
  • LSI Industries Inc.
  • Wipro Consumer Care and Lighting
  • Bajaj Electricals Limited
  • Wipro Lighting
  • Iwasaki Electric Co. Ltd.
  • Elba SA

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation by Category

  • By Type
    • LED Industrial Lighting
    • High Intensity Discharge (HID) Industrial Lighting
    • Fluorescent Industrial Lighting
  • By Application
    • Industrial Linear Lighting
    • Industrial Spot Lighting
    • Industrial Flood Lighting/Area Lighting
    • Industrial High Bay Lighting
  • By Installation
    • New Installation
    • Replacement Installation
    • Retrofit Installation
  • By End User
    • Industrial Lighting for Warehouses & Cold Storages
    • Industrial Lighting for Factory & Production Lines
    • Industrial Lighting for Outer Premises
    • Industrial Lighting for Parking Areas
    • Industrial Lighting for Hazardous Locations
    • Others
  • By Region
    • North America
    • Latin America
    • Europe
    • South Asia & Pacific
    • East Asia
    • MEA

Key Questions Answered in Report

  • Which is the most lucrative market for industrial lighting?

    East Asia leads the market for industrial lighting. Persistence Market research anticipates East Asia to capture over one-fourth of the global market share.

  • Which is top-selling industrial lighting?

    By type, fluorescent leads the way in the market. Although, LEDs, with a growth of over 8%, are anticipated to gain half of the market share by end of the forecast period.

  • Which is the most lucrative application for industrial lighting?

    Flood/area lighting is extensively used at production facilities, warehouses, etc. Thanks to their high durability, they can perform efficiently even at the most hazardous locations.

  • Which are some of the leading industrial lighting manufacturers?

    Some of the leading companies manufacturing industrial lighting are Emerson Electric Co, Signify Holding, OSRAM GmbH, GE Current, Panasonic Corporation, Hubbell Incorporated, and ACUITY BRANDS LIGHTING.

Enquiry before Buying

  • Is this research conducted by Persistence Market Research?

    Yes, the research has been conducted by expert analysts of Persistence Market Research, through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses demand-side assessment of the market, and triangulates the same through supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions. Request a detailed methodology.

  • Who are the respondents for primary research?

    Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample, and it will be sent to you through an email.

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