Lighting Contactor Market: 2019 Global Industry Size, Share, Trends, Growth Appl

Posted by Abhijeet Bendre on December 3rd, 2019

Market Research Future published a half-cooked research report on global lighting contactor market. The lighting contactor market is expected to expand at 8.25% CAGR during the period 2018 to 2023.

Market Highlights

Lighting contactor is mostly used in the equipment which is frequently turned off and on with the opening and closing of a circuit. These contactors generally exist remotely and control circuits with higher voltages. Lighting contactors as a part of the entire lighting control system increases the efficiency by reducing the energy consumption by optimizing the light levels to suit the need of end-user. Electrically held lighting contactor is a major segment in this market and is estimated to grow at a significant rate during the forecast period.

Based on installation, the market is segmented into indoor and outdoor. Indoor segment is estimated to dominate the market during the forecast period due to the increasing need for proper lighting control system in commercial, residential, and industrial applications. Considering the type, the market is segmented as electrically held and mechanically held. Electrically held segment is estimated to dominate the market during the forecast period as these contactors operate quietly and consume less energy. The end-user segment includes residential, commercial, industrial, and others.

The global lighting contactor market is expected to grow at 8.25% CAGR during the forecast period.

Europe accounts for the largest market share whereas Asia-Pacific is the fastest growing region.

Region wise, Europe held the largest market share of the global lighting contactor market in 2017. It is estimated that Europe region will continue to dominate the market during the forecast period, mainly due to the rising demand for energy-efficient lighting systems in the region. The region targets 20% energy savings by 2020. North America is the second largest market, with lighting contactor system accounting for a significant share in the entire lighitng control system, especially in the US. It has been estimated that Asia-Pacific region will grow at the highest rate during the forecast period.

Scope of the Report

This report provides an in-depth analysis of the global lighting contactor market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific (APAC) and Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the lighting contactor market by its type, installation, end-user, and by region.