Industrial Lighting Market Overview

Industrial Lighting Market Size Was Valued at USD 7.59 Billion In 2023 And Is Projected to Reach USD 12.08 Billion By 2032, Growing at A CAGR of 5.3% From 2024-2032.

Industrial lighting is used in the several types of industries such as manufacturing, marine, mining, packaging and even in the sports industry. The major reason behind using this type of lighting system in these industries is for the safety concerns and for better visibility experience. Many industries pay utmost attention to evaluate their lighting systems to meet certain minimum requirements, like cost-effectiveness, energy optimization, better productivity, and plant safety.

Governments and public organizations across the whole world are increasingly deploying lighting systems like LED lighting networks, in order to address the maintenance issues arising from incandescent lamp usage. LEDs comes up with its own advantages making it worthy such as no ultraviolet or infrared radiations and hence further offering various benefits, such as lower cooling costs, prolonged product life, and maintenance simplification, also there is no damage to eyes and sensitive equipment and providing utmost safety in the industrial environment.

Covid-19 Impact Analysis on Industrial Lighting Market

As a consequence of COVID-19 pandemic, the industrial lighting market and other related areas witnessed production halts and disruptions in the supply chain and thus It weakened industrial output growth. The outbreak of COVID-19 also had its hand on the chemical industry globally, the market has also been susceptible to increased prices making the direct fluctuation in the lighting industry. The most considerable issue in the market was not the production but the supply chain disruption.

Around 30% of the electronic drivers and chips used to manufacture LED bulbs in countries such as India, are imported from Chinese vendors and wherefore the LED lighting industry has been witnessing short supply concerns.

Recently, a Texas-based industrial lighting company AZZ announced that, as per the Department of Homeland Security (DHS), the industrial lighting is an essential Infrastructure Business during the COVID-19 crisis, leaving some relief in the market. The imbalance in demand and supply due to the pandemic situation indicates a potential rise in prices of overall LED lightings, signify has already notified its US clients of a 3% increase in its offerings in mid -March 2020.

Market Dynamics And Factors

Drivers:

Infrastructural development and modernization of industries taking place globally is major driving factor behind the growth of this market. The ever-rising availability of a wide range of lighting products at most reasonable prices and the increasing demand for energy-efficient lighting systems across industrial sectors are driving the market growth. Lighting, which forms a significant portion of electricity expenses, is now seen as a point of emphasis for manufacturers and governments across regions, as they were under pressure to decrease carbon emissions from electricity generation, and hence the regulatory standards promoting the use of LED lightings, workers safety in industrial locations, the demand for cost-effective lighting solutions, high service life, and the replacement of traditional lighting systems with LEDs, are the true market drivers during the forecast period.

Industrial lighting holds many great benefits such as reduced energy consumption, lower maintenance cost, higher quality lighting, durability, longer life, low radiated heat, immediate lighting, directional illumination, high brightness and intensity are leading to growth of the market. Moreover, adoption of LEDs is increasing because of its reduced cost, its benefits for industrial usage, introduction of Wi-Fi control-based lighting and also demand of IoT based smart lighting technologies are helping the market by further pushing it towards the growth.

Restraints:

Despite of all the mentioned advantages to the lighting industry, the costs associated with the implementation in the industry are considerably high, for example, initial cost required to integrate or replace the existing lighting system in manufacturing plants and production facilities across the globe is high, especially for the small and medium industries hence this is pulling the market back for the development at some extent.

Also, the market faces lack of expertise in the maintenance of newer technologies which are stopping organizations from integrating LEDs into their manufacturing facilities. Though, assembly process for an LED is a complicated procedure.

However, the costs involved in the industry have a significant change towards a decrease in the past few years, but certain challenges still endure as consecutively this is leading to intense competition from Chinese players, who are offering lighting solutions at much a cheaper price.

Opportunities:

The emergence of LED technology has been changing its basic forms in the lighting sector and has brought unprecedented diversity in application. LED lighting holds significant opportunities for both the industry and the market as LEDs have created a compelling value proposition for the end -users and helped in enlarging the value chain of the industry.

Additionally, the lighting industry absorbs some extra benefits for instance, during the United Nations Framework Convention on Climate Change held in Paris, multiple countries such as India pledged to cut off their carbon emissions intensity by 33 -35% by year 2030. due to this pledge, the government has been undertaking several initiatives to promote the usage of LED products in the country.

LEDs are also gaining more and more importance as a viable option for hazardous locations, as users can realize the importance of low maintenance and the associated costs. Innovations, like solar power LEDs, are also expected to help cutting down on emissions. However, Solar LEDs have already been into application at very industrial sites, but since, the main focus is reduced energy costs and carbon, the development still continues.

Market Segmentation

Segmentation Insights:

By Light Source, the fluorescent lighting segment has occupied the largest market share, of 66.09%, according to year 2020. On the other hand, the LED segment is expected to witness the highest CAGR over the forecast period. Also, as the incandescent lamps were banned for commercial and industrial purposes the demand for HID (HIGH-INTENSITY DISCHARGE) lightings rose, especially for high-bay type lightings.

On the basis of product Type, the high/low bay lighting segment occupied the largest market share, of 63.24%, in 2020, and the same segment is expected to witness the highest CAGR in upcoming years. High/Low Bay Lighting business focuses and concludes that proper lighting solutions can become mood balancers and can definitely help in creating positive vibes. Bright lighting can also boost the productivity of employees working. Industrial units mainly require high-intensity lighting systems for various purposes and this is the need where flood lighting system is used.

By End-User Application, Oil and Gas segment comes at top in terms of revenue share, followed by manufacturing then, warehouse and then other applications. Warehouse is anticipated to grow at a very good CAGR. Other end user industries wherein the lighting systems are perceptibly used include the energy and power, food processing, and paint industry.

Regional Insights:

Geographically, Asia-Pacific accounted for the largest market share of the global industrial lighting market covering over 42.17%, of the market in year 2020 owning to diverse economies having different levels of development and an extensive assortment of industries. Asia-Pacific is also expected to hold the fastest CAGR over the forecast period.

In Europe, various associations in the region have engaged in proposing strategies and plans for the lighting sector. For instance, the European SSL Support Strategy of 2011 was proposed and implemented for European LED standardization and accelerating large-scale Solid-State Lighting deployment. Further, in March 2019, the Russian government introduced a plan to increase the support for the domestic petrochemicals industry by doubling the capacity. Many European countries, primarily the United Kingdom, have a goal of achieving net-zero carbon emissions by the end of 2050 and so, the manufacturing companies are investing in lighting innovations to go by the plan.

North American countries, such as the United States, are highly developed and industrialized, also, the Americans use a significant amount of energy across homes, businesses and industries. Industrial energy needs are projected to grow by 31%, during the next 25 years, which is leading the government to invest significantly in more efficient solutions affecting positively on the demand of lighting systems.

The Middle Eastern countries are dependent on the oil and gas sector for the region’s GDP. Though, the government is about to change the goals and will start investing in advanced technologies and greener technologies in order to achieve the Saudi Vision 2030. The South African mining industry is also undergoing transformation during the period of fourth industrial revolution indirectly, shaping the mentioned industry too.

Key Industry Developments

• Larson Electronics introduced a Solar LED Light Tower and a Solar Generator having a 16” square junction box at the top of the mast for mounting equipment, in 2021.
• In April 2021, Larson Electronics LLC United States announced the launch of an explosion -proof LED light to be used in wet locations and marine environments. This newly developed product with two-colours is ATEX/IECEx rated for use in flammable work sites.
• In January 2020, R Stahl expanded its range of EXLUX category by upgrading it with modern explosion-protected lighting systems with DALI interfaces. The market for industrial lighting is prone to various different creative and useful advancements.

Players Covered in Industrial Lighting market are :

• Siemens
• GE Lighting
• Signify (formerly Philips Lighting)
• USHIO America Inc.
• Crompton Greaves Ltd.
• Acuity Brands Lighting Inc.
• Litetronics InternationalInc.
• Havells India Ltd
• and OSRAM Gmbh
• among and others major key players.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Light Source
 3.3 By End-User

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Industrial Lighting Market by Type
 5.1 Industrial Lighting Market Overview Snapshot and Growth Engine
 5.2 Industrial Lighting Market Overview
 5.3 High/Low Bay Lighting
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 High/Low Bay Lighting: Grographic Segmentation
 5.4 Flood/Area Lighting
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Flood/Area Lighting: Grographic Segmentation

Chapter 6: Industrial Lighting Market by Light Source
 6.1 Industrial Lighting Market Overview Snapshot and Growth Engine
 6.2 Industrial Lighting Market Overview
 6.3 LED
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 LED: Grographic Segmentation
 6.4 High-intensity Discharge (HID) Lighting
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 High-intensity Discharge (HID) Lighting: Grographic Segmentation
 6.5 Fluorescent Lighting
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Fluorescent Lighting: Grographic Segmentation

Chapter 7: Industrial Lighting Market by End-User
 7.1 Industrial Lighting Market Overview Snapshot and Growth Engine
 7.2 Industrial Lighting Market Overview
 7.3 Oil & Gas
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Oil & Gas: Grographic Segmentation
 7.4 Mining
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Mining: Grographic Segmentation
 7.5 Pharmaceutical
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Pharmaceutical: Grographic Segmentation
 7.6 Manufacturing
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size (2017-2032F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Manufacturing: Grographic Segmentation
 7.7 Warehouse
  7.7.1 Introduction and Market Overview
  7.7.2 Historic and Forecasted Market Size (2017-2032F)
  7.7.3 Key Market Trends, Growth Factors and Opportunities
  7.7.4 Warehouse: Grographic Segmentation
 7.8 Other
  7.8.1 Introduction and Market Overview
  7.8.2 Historic and Forecasted Market Size (2017-2032F)
  7.8.3 Key Market Trends, Growth Factors and Opportunities
  7.8.4 Other: Grographic Segmentation

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Positioning
  8.1.2 Industrial Lighting Sales and Market Share By Players
  8.1.3 Industry BCG Matrix
  8.1.4 Ansoff Matrix
  8.1.5 Industrial Lighting Industry Concentration Ratio (CR5 and HHI)
  8.1.6 Top 5 Industrial Lighting Players Market Share
  8.1.7 Mergers and Acquisitions
  8.1.8 Business Strategies By Top Players
 8.2 SIEMENS
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Operating Business Segments
  8.2.5 Product Portfolio
  8.2.6 Business Performance
  8.2.7 Key Strategic Moves and Recent Developments
  8.2.8 SWOT Analysis
 8.3 GE LIGHTING
 8.4 SIGNIFY (FORMERLY PHILIPS LIGHTING)
 8.5 USHIO AMERICA INC.
 8.6 CROMPTON GREAVES LTD.
 8.7 ACUITY BRANDS LIGHTING INC.
 8.8 LITETRONICS INTERNATIONALINC.
 8.9 HAVELLS INDIA LTD
 8.10 OSRAM GMBH
 8.11 OTHER MAJOR PLAYERS

Chapter 9: Global Industrial Lighting Market Analysis, Insights and Forecast, 2017-2032
 9.1 Market Overview
 9.2 Historic and Forecasted Market Size By Type
  9.2.1 High/Low Bay Lighting
  9.2.2 Flood/Area Lighting
 9.3 Historic and Forecasted Market Size By Light Source
  9.3.1 LED
  9.3.2 High-intensity Discharge (HID) Lighting
  9.3.3 Fluorescent Lighting
 9.4 Historic and Forecasted Market Size By End-User
  9.4.1 Oil & Gas
  9.4.2 Mining
  9.4.3 Pharmaceutical
  9.4.4 Manufacturing
  9.4.5 Warehouse
  9.4.6 Other

Chapter 10: North America Industrial Lighting Market Analysis, Insights and Forecast, 2017-2032
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Type
  10.4.1 High/Low Bay Lighting
  10.4.2 Flood/Area Lighting
 10.5 Historic and Forecasted Market Size By Light Source
  10.5.1 LED
  10.5.2 High-intensity Discharge (HID) Lighting
  10.5.3 Fluorescent Lighting
 10.6 Historic and Forecasted Market Size By End-User
  10.6.1 Oil & Gas
  10.6.2 Mining
  10.6.3 Pharmaceutical
  10.6.4 Manufacturing
  10.6.5 Warehouse
  10.6.6 Other
 10.7 Historic and Forecast Market Size by Country
  10.7.1 U.S.
  10.7.2 Canada
  10.7.3 Mexico

Chapter 11: Europe Industrial Lighting Market Analysis, Insights and Forecast, 2017-2032
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 High/Low Bay Lighting
  11.4.2 Flood/Area Lighting
 11.5 Historic and Forecasted Market Size By Light Source
  11.5.1 LED
  11.5.2 High-intensity Discharge (HID) Lighting
  11.5.3 Fluorescent Lighting
 11.6 Historic and Forecasted Market Size By End-User
  11.6.1 Oil & Gas
  11.6.2 Mining
  11.6.3 Pharmaceutical
  11.6.4 Manufacturing
  11.6.5 Warehouse
  11.6.6 Other
 11.7 Historic and Forecast Market Size by Country
  11.7.1 Germany
  11.7.2 U.K.
  11.7.3 France
  11.7.4 Italy
  11.7.5 Russia
  11.7.6 Spain
  11.7.7 Rest of Europe

Chapter 12: Asia-Pacific Industrial Lighting Market Analysis, Insights and Forecast, 2017-2032
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 High/Low Bay Lighting
  12.4.2 Flood/Area Lighting
 12.5 Historic and Forecasted Market Size By Light Source
  12.5.1 LED
  12.5.2 High-intensity Discharge (HID) Lighting
  12.5.3 Fluorescent Lighting
 12.6 Historic and Forecasted Market Size By End-User
  12.6.1 Oil & Gas
  12.6.2 Mining
  12.6.3 Pharmaceutical
  12.6.4 Manufacturing
  12.6.5 Warehouse
  12.6.6 Other
 12.7 Historic and Forecast Market Size by Country
  12.7.1 China
  12.7.2 India
  12.7.3 Japan
  12.7.4 Singapore
  12.7.5 Australia
  12.7.6 New Zealand
  12.7.7 Rest of APAC

Chapter 13: Middle East & Africa Industrial Lighting Market Analysis, Insights and Forecast, 2017-2032
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Type
  13.4.1 High/Low Bay Lighting
  13.4.2 Flood/Area Lighting
 13.5 Historic and Forecasted Market Size By Light Source
  13.5.1 LED
  13.5.2 High-intensity Discharge (HID) Lighting
  13.5.3 Fluorescent Lighting
 13.6 Historic and Forecasted Market Size By End-User
  13.6.1 Oil & Gas
  13.6.2 Mining
  13.6.3 Pharmaceutical
  13.6.4 Manufacturing
  13.6.5 Warehouse
  13.6.6 Other
 13.7 Historic and Forecast Market Size by Country
  13.7.1 Turkey
  13.7.2 Saudi Arabia
  13.7.3 Iran
  13.7.4 UAE
  13.7.5 Africa
  13.7.6 Rest of MEA

Chapter 14: South America Industrial Lighting Market Analysis, Insights and Forecast, 2017-2032
 14.1 Key Market Trends, Growth Factors and Opportunities
 14.2 Impact of Covid-19
 14.3 Key Players
 14.4 Key Market Trends, Growth Factors and Opportunities
 14.4 Historic and Forecasted Market Size By Type
  14.4.1 High/Low Bay Lighting
  14.4.2 Flood/Area Lighting
 14.5 Historic and Forecasted Market Size By Light Source
  14.5.1 LED
  14.5.2 High-intensity Discharge (HID) Lighting
  14.5.3 Fluorescent Lighting
 14.6 Historic and Forecasted Market Size By End-User
  14.6.1 Oil & Gas
  14.6.2 Mining
  14.6.3 Pharmaceutical
  14.6.4 Manufacturing
  14.6.5 Warehouse
  14.6.6 Other
 14.7 Historic and Forecast Market Size by Country
  14.7.1 Brazil
  14.7.2 Argentina
  14.7.3 Rest of SA

Chapter 15 Investment Analysis

Chapter 16 Analyst Viewpoint and Conclusion