Industrial Lighting Market Report Forecasts the Impact of COVID-19 Pandemic on B
Posted by soham patil on January 6th, 2021
Global Industrial Lighting Market was valued at USD 8.25 billion in 2019 which is expected to reach USD 15.18 billion by 2027 at a CAGR 7.88%.
Industrial lighting market is classified into various light sources such as such as LED, HID, and Fluorescent which are used in various applications application such as Hazardous Locations, Parking Areas, Outer Premises, Factory & Production Lines, and Warehouse & Cold Storage.
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Rise in government initiatives regarding adoption of LED lighting is the driving factor which is expected to boost the global industrial lighting market growth. Furthermore, increase in demand for cost-effective and energy saving LED lighting is expected to propel the global industrial lighting industry during this forecast period. Moreover, continuous infrastructure development and modernization will have the positive impact on global industrial lighting market growth. Also, industrial lighting has various unique features like less consumption of energy, and durability expected to fuel the demand for industrial lighting in near future.
However, high cost of equipment and implementation is expected to hamper the global industrial lighting market growth. Further, lack of standardization of facilities in industries will affect the global industrial lighting market growth.
Global Industrial Lighting Market is segmented into light source such as LED, HID, and Fluorescent, by offerings such as Services, Control Systems, and Lamp & Luminaires. Further, Global Industrial Lighting Market is segmented into installation type such as Replacement, New, and Retrofit, and by application such as Hazardous Locations, Parking Areas, Outer Premises, Factory & Production Lines, and Warehouse & Cold Storage.
Also, Global Industrial Lighting Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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By Light Source
By Installation Type
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About the Authorsoham patil
Joined: September 1st, 2020
Articles Posted: 235
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