Global Industrial Lighting & Illumination Market

Global Industrial Lighting & Illumination Market Size, Share, Growth Analysis, By Type(LED lighting, High-Intensity Discharge (HID) lighting), By Application(Factory and production lines, warehouse and cold storage) - Industry Forecast 2024-2031


Report ID: SQMIG20D2072 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 64 | Figures: 75

Global Industrial Lighting & Illumination Market Insights

Global Industrial Lighting & Illumination Market size was valued at USD 8.53 billion in 2019 and is poised to grow from USD 9.24 billion in 2023 to USD 17.48 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

Industrial Lighting & Illumination refers to the use of lighting and illumination systems in industrial facilities such as factories, warehouses, manufacturing plants, and other industrial settings. The main purpose of industrial lighting is to provide adequate lighting for workers to perform their tasks safely and efficiently. Industrial lighting and illumination systems typically consist of a variety of lighting fixtures, lamps, and control systems that are designed to provide optimal lighting for different types of industrial applications. For example, high-intensity discharge (HID) lamps are commonly used in warehouses and factories, while LED lighting is increasingly being used in industrial applications due to its energy efficiency and long lifespan. Industrial lighting and illumination systems may also include advanced features such as motion sensors, daylight sensors, and wireless controls, which can help to reduce energy consumption and improve lighting performance. In addition to providing adequate lighting for workers, industrial lighting and illumination systems can also help to improve safety and security in industrial facilities by reducing the risk of accidents and enabling better visibility in critical areas.

The global industrial lighting and illumination market is a rapidly growing market, driven by factors such as increasing demand for energy-efficient lighting solutions, growing industrialization, and increasing adoption of LED and smart lighting solutions. The global industrial lighting and illumination market is expected to grow significantly in the coming years. There is a growing demand for smart lighting solutions in the global industrial lighting and illumination market, driven by the increasing adoption of industrial automation and the smart lighting (IoT). Smart lighting solutions offer advanced features such as remote control, automation, and energy management, which are highly valued by industrial customers. Governments and regulatory bodies around the world are placing greater emphasis on energy efficiency and sustainability in the industrial sector, driving demand for energy-efficient lighting solutions. The global industrial lighting and illumination market is dominated by several key players and these companies have a strong presence in the market and are driving innovation and growth. Developing countries such as India and China are witnessing rapid industrialization, driving demand for industrial lighting and illumination solutions. This is expected to drive growth in the global industrial lighting and illumination market in the coming years.

US Industrial Lighting & Illumination Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 8.53 billion

Largest Segment

LED lighting

Fastest Growth

LED lighting

Growth Rate

8.3% CAGR

Global Industrial Lighting & Illumination Market ($ Bn)
Country Share for North America Region (%)
Global Industrial Lighting & Illumination Market By Type ($ Bn)
Global Industrial Lighting & Illumination Market By Type (%)

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Global Industrial Lighting & Illumination Market Segmental Analysis

Global Industrial Lighting & Illumination Market is segmented on the basis of type, application and region. By type, the Industrial Lighting & Illumination Market is segmented into LED lighting, High-Intensity Discharge (HID) lighting, fluorescent lighting, and others. By application, Industrial Lighting & Illumination Market is segmented into factory and production lines, warehouse and cold storage, and others. By region, the Industrial Lighting & Illumination Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Industrial Lighting & Illumination Market Analysis by Type

The LED Lighting segment is expected to be the fastest-growing segment of the Global Industrial Lighting & Illumination Market. This is driven by factors such as energy efficiency, long lifespan, and lower maintenance costs. LED lighting is widely used in industrial facilities such as factories, warehouses, and manufacturing plants, due to its ability to provide high-quality lighting and reduce energy consumption.

High-Intensity Discharge (HID) Lighting segment includes products such as metal halide lamps, high-pressure sodium lamps, and mercury vapor lamps. These lamps are commonly used in industrial facilities where high-intensity lighting is required, such as in warehouses and production lines. However, the HID Lighting segment is expected to see slower growth compared to LED lighting due to factors such as lower energy efficiency and shorter lifespan.

Industrial Lighting & Illumination Market Analysis by Application

The Factory and Production Lines segment is the largest segment in the Global Industrial Lighting & Illumination Market. This segment is driven by the need for adequate lighting for workers to perform their tasks safely and efficiently. The demand for energy-efficient lighting solutions in this segment is increasing, particularly with the adoption of Industry 4.0 technologies such as the Internet of Things (IoT) and smart manufacturing.

The Warehouse and Cold Storage segment is expected to be the fastest-growing segment. The Warehouse and Cold Storage segment is another important segment of the Global Industrial Lighting & Illumination Market. This segment is driven by the need for lighting solutions that provide high visibility in large spaces, such as warehouses and distribution centers. Energy-efficient lighting solutions are particularly important in this segment, as lighting can account for up to 80% of a facility's energy costs.

Global Industrial Lighting & Illumination Market By Type, 2023 (%)

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Global Industrial Lighting & Illumination Market Regional Insights

The Asia Pacific region is expected to be the fastest-growing market for industrial lighting and illumination, accounting for a significant share of the market. The Asia Pacific region is experiencing rapid industrialization, with countries such as China, India, and Indonesia witnessing significant growth in their manufacturing sectors. This is driving demand for industrial lighting and illumination solutions in the region. Governments in the Asia Pacific region are placing greater emphasis on energy efficiency and sustainability in the industrial sector. This is driving demand for energy-efficient lighting solutions, which can help industrial facilities reduce their carbon footprint and operating costs. LED lighting technology is rapidly gaining popularity in the Asia Pacific region, thanks to its energy efficiency and long lifespan. This is driving growth in the LED industrial lighting segment in the region. The Asia Pacific region is home to several key manufacturers of industrial lighting and illumination solutions, including Signify (formerly Philips Lighting), Osram, and Panasonic. These companies have a strong presence in the region and are driving innovation and growth in the market. There is a growing demand for smart lighting solutions in the Asia Pacific region, driven by the increasing adoption of industrial automation and the Internet of Things (IoT). Smart lighting solutions offer advanced features such as remote control, automation, and energy management, which are highly valued by industrial customers in the region.

North America is one of the major markets for the global industrial lighting and illumination industry. The North American region is known for its technological advancements, and this is reflected in the industrial lighting and illumination market. The region is a hub for innovation, with many companies developing advanced lighting technologies such as LED lighting, smart lighting solutions, and wireless lighting control systems. The North American market is also focused on energy efficiency, and this is driving demand for energy-efficient lighting solutions. The region has strict regulations in place to promote energy efficiency and reduce carbon emissions, and this is encouraging industrial customers to invest in energy-efficient lighting systems. The North American market is home to many key players in the industrial lighting and illumination industry and these companies have a strong presence in the region and are driving innovation and growth in the market. There is a growing demand for smart lighting solutions in the North American market, driven by the increasing adoption of industrial automation and the Internet of Things (IoT). Smart lighting solutions offer advanced features such as remote control, automation, and energy management, which are highly valued by industrial customers in the region. The North American market is undergoing consolidation, with many smaller players being acquired by larger companies. This is leading to a more concentrated market, with fewer but larger players dominating the industry.

Global Industrial Lighting & Illumination Market By Region, 2024-2031
  • Largest
  • Fastest

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Global Industrial Lighting & Illumination Market Dynamics

Industrial Lighting & Illumination Market Drivers

Growing demand for energy-efficient lighting solutions

  • The growing demand for energy-efficient lighting solutions is a significant driver of the Global Industrial Lighting & Illumination Market. The industrial sector is one of the major energy consumers, and lighting accounts for a significant portion of the energy consumption in industrial facilities. As a result, there is a growing need to reduce energy consumption and greenhouse gas emissions in the industrial sector. Energy-efficient lighting solutions, such as LED lighting, have become increasingly popular in the industrial sector due to their energy-saving capabilities, longer lifespan, and lower maintenance costs. LED lighting is up to 80% more energy efficient than traditional lighting technologies, such as incandescent and fluorescent lighting, and can significantly reduce energy consumption and costs in industrial facilities. Moreover, the demand for energy-efficient lighting solutions is further driven by government regulations and initiatives aimed at reducing energy consumption and promoting sustainability. Governments around the world are implementing regulations and initiatives to promote energy-efficient lighting and reduce energy consumption in the industrial sector. For instance, in the European Union, regulations such as the Eco design Directive and Energy Labeling Directive have been implemented to promote energy-efficient lighting solutions. Furthermore, the increasing focus on sustainability and corporate social responsibility (CSR) is driving the adoption of energy-efficient lighting solutions in the industrial sector. Many companies are adopting sustainability goals and initiatives to reduce their carbon footprint and promote environmental sustainability. Energy-efficient lighting solutions can help companies achieve these goals and reduce their energy consumption and costs.

Industrial Lighting & Illumination Market Restraints

Lack of Standardization

  • One of the key market restraints of the global industrial lighting and illumination market is the lack of standardization. This refers to the fact that there is no standard set of specifications or protocols that manufacturers and users must adhere to in order to ensure compatibility between different lighting systems. The lack of standardization in the industrial lighting market can have several negative impacts on the industry. One of the biggest challenges is that it can lead to compatibility issues between different lighting systems. This can create difficulties for customers who want to integrate lighting systems from different vendors into a single facility or location. Incompatibility issues can also make it difficult for end-users to upgrade or replace lighting systems without significant costs and downtime. Moreover, a lack of standardization can lead to a lack of interoperability between different lighting systems, which can limit the functionality and features that customers can access. For example, a lighting control system from one vendor may not be able to communicate with sensors or light fixtures from another vendor, limiting the overall effectiveness of the lighting system. Another challenge arising from the lack of standardization is the difficulty of comparing products from different vendors. Without standardized metrics for evaluating lighting system performance, it can be challenging for customers to compare products and make informed purchasing decisions.

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Global Industrial Lighting & Illumination Market Competitive Landscape

The Global Industrial Lighting & Illumination Market is highly competitive, with several major players operating in the market. The key market companies are focusing on expanding their product portfolios, developing new products, investing in research and development activities, and expanding their global presence through strategic mergers and acquisitions, and partnerships. Additionally, there are several regional and local players operating in the market, contributing to the competition in the industry. The market competition is intense due to the presence of many players with similar product offerings. Companies are also investing in marketing and branding activities to create brand awareness and differentiate their products from competitors. Furthermore, with the growing demand for energy-efficient lighting solutions, companies are also focusing on developing sustainable and environmentally friendly lighting products to cater to the growing demand.

Industrial Lighting & Illumination Market Top Player’s Company Profiles

  • Signify Holding (formerly Philips Lighting)
  • OSRAM GmbH
  • General Electric Company
  • Cree, Inc.
  • Zumtobel Group AG
  • Acuity Brands Lighting, Inc.
  • Hubbell Incorporated
  • Eaton Corporation PLC
  • Dialight plc
  • LSI Industries Inc.
  • Legrand SA
  • Thorn Lighting
  • Panasonic Corporation
  • Emerson Electric Co.
  • Hella GmbH & Co. KGaA
  • Mitsubishi Electric Corporation
  • GE Lighting
  • Advanced Lighting Technologies, Inc.
  • Holophane Europe Ltd.
  • Zumtobel Lighting GmbH

Industrial Lighting & Illumination Market Recent Developments

  • In January 2022, Osram announced the acquisition of Fluence by OSRAM, a US-based provider of LED lighting solutions for commercial crop production.
  • In December 2021, Signify announced the acquisition of a US-based lighting company called Hubbell Lighting. This acquisition is expected to expand Signify's position in the North American market.
  • In November 2021, Zumtobel Group, a leading manufacturer of lighting solutions, launched a new range of LED lighting products designed for use in industrial and commercial settings.
  • In October 2021, Cree Lighting announced the launch of its new SmartCast Connect wireless lighting control system, which is designed to provide enhanced lighting control capabilities in industrial and commercial buildings.

Global Industrial Lighting & Illumination Key Market Trends

  • The trend of adopting smart lighting systems is one of the most significant and promising trends in the global industrial lighting and illumination market. Smart lighting systems use advanced sensors, software, and communication technologies to optimize lighting performance, energy efficiency, and safety. One of the key benefits of smart lighting systems is their ability to adjust lighting levels based on occupancy and natural light levels. This is achieved through the use of occupancy sensors, daylight sensors, and other smart control systems. These sensors can detect the presence of people in a particular area and adjust lighting levels accordingly, reducing energy consumption and costs. Another important benefit of smart lighting systems is their ability to provide remote control and monitoring of lighting systems. This is achieved through wireless communication technologies such as ZigBee, Bluetooth, or Wi-Fi, which allow lighting systems to be controlled and monitored from a central location. This can help facility managers to optimize energy consumption, identify faults and malfunctions, and track maintenance needs, reducing maintenance costs and improving operational efficiency. Smart lighting systems also provide improved safety and security in industrial settings. For example, lighting systems can be programmed to switch on automatically when a worker enters a particular area, providing increased visibility and reducing the risk of accidents. Similarly, lighting systems can be integrated with security systems to provide enhanced security and surveillance. In addition to these benefits, smart lighting systems are also highly customizable, allowing industrial companies to tailor lighting solutions to meet their unique needs and requirements. This includes the ability to choose from a wide range of lighting colors, intensities, and temperatures, as well as the ability to integrate lighting with other industrial processes and technologies.

Global Industrial Lighting & Illumination Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Industrial Lighting & Illumination Market analyses, the global market is growing due to several factors such as the increasing demand for energy-efficient lighting solutions, the adoption of Industry 4.0 technologies, and the growing emphasis on workplace safety and productivity. One of the key drivers of the Global Industrial Lighting & Illumination Market is the growing demand for energy-efficient lighting solutions. Energy-efficient lighting solutions such as LED lighting are increasingly being adopted in industrial facilities to reduce energy costs and improve sustainability. LED lighting offers several benefits such as high energy efficiency, long lifespan, and lower maintenance costs, making it a popular choice among industrial facility managers. Another factor driving the growth of the Global Industrial Lighting & Illumination Market is the adoption of Industry 4.0 technologies such as the Internet of Things (IoT) and smart manufacturing. These technologies are being used to optimize industrial processes, reduce costs, and improve productivity. Smart lighting solutions that incorporate IoT technology can help industrial facilities monitor and control their lighting systems more efficiently, further reducing energy consumption and costs. Geographically, the Asia-Pacific region is expected to dominate the Global Industrial Lighting & Illumination Market due to the growing industrialization in the region and the increasing demand for energy-efficient lighting solutions. However, North America and Europe are also expected to see significant growth in the market due to factors such as government regulations promoting energy efficiency and sustainability. In terms of market segmentation, the LED Lighting segment is expected to be the fastest-growing segment of the Global Industrial Lighting & Illumination Market, driven by factors such as energy efficiency, long lifespan, and lower maintenance costs. The Factory and Production Lines segment is the largest segment of the market, driven by the need for adequate lighting for workers to perform their tasks safely and efficiently.

Report Metric Details
Market size value in 2023 USD 8.53 billion
Market size value in 2031 USD 17.48 billion
Growth Rate 8.3%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • LED lighting, High-Intensity Discharge (HID) lighting, fluorescent lighting, and others
  • Application
    • Factory and production lines, warehouse and cold storage, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Signify Holding (formerly Philips Lighting)
  • OSRAM GmbH
  • General Electric Company
  • Cree, Inc.
  • Zumtobel Group AG
  • Acuity Brands Lighting, Inc.
  • Hubbell Incorporated
  • Eaton Corporation PLC
  • Dialight plc
  • LSI Industries Inc.
  • Legrand SA
  • Thorn Lighting
  • Panasonic Corporation
  • Emerson Electric Co.
  • Hella GmbH & Co. KGaA
  • Mitsubishi Electric Corporation
  • GE Lighting
  • Advanced Lighting Technologies, Inc.
  • Holophane Europe Ltd.
  • Zumtobel Lighting GmbH
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Industrial Lighting & Illumination Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Industrial Lighting & Illumination Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Industrial Lighting & Illumination Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Industrial Lighting & Illumination Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Industrial Lighting & Illumination Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Industrial Lighting & Illumination Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Industrial Lighting & Illumination Market size was valued at USD 8.53 billion in 2019 and is poised to grow from USD 9.24 billion in 2023 to USD 17.48 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The Global Industrial Lighting & Illumination Market is highly competitive, with several major players operating in the market. The key market companies are focusing on expanding their product portfolios, developing new products, investing in research and development activities, and expanding their global presence through strategic mergers and acquisitions, and partnerships. Additionally, there are several regional and local players operating in the market, contributing to the competition in the industry. The market competition is intense due to the presence of many players with similar product offerings. Companies are also investing in marketing and branding activities to create brand awareness and differentiate their products from competitors. Furthermore, with the growing demand for energy-efficient lighting solutions, companies are also focusing on developing sustainable and environmentally friendly lighting products to cater to the growing demand. 'Signify Holding (formerly Philips Lighting)', 'OSRAM GmbH', 'General Electric Company', 'Cree, Inc.', 'Zumtobel Group AG', 'Acuity Brands Lighting, Inc.', 'Hubbell Incorporated', 'Eaton Corporation PLC', 'Dialight plc', 'LSI Industries Inc.', 'Legrand SA', 'Thorn Lighting', 'Panasonic Corporation', 'Emerson Electric Co.', 'Hella GmbH & Co. KGaA', 'Mitsubishi Electric Corporation', 'GE Lighting', 'Advanced Lighting Technologies, Inc.', 'Holophane Europe Ltd.', 'Zumtobel Lighting GmbH'

The growing demand for energy-efficient lighting solutions is a significant driver of the Global Industrial Lighting & Illumination Market. The industrial sector is one of the major energy consumers, and lighting accounts for a significant portion of the energy consumption in industrial facilities. As a result, there is a growing need to reduce energy consumption and greenhouse gas emissions in the industrial sector. Energy-efficient lighting solutions, such as LED lighting, have become increasingly popular in the industrial sector due to their energy-saving capabilities, longer lifespan, and lower maintenance costs. LED lighting is up to 80% more energy efficient than traditional lighting technologies, such as incandescent and fluorescent lighting, and can significantly reduce energy consumption and costs in industrial facilities. Moreover, the demand for energy-efficient lighting solutions is further driven by government regulations and initiatives aimed at reducing energy consumption and promoting sustainability. Governments around the world are implementing regulations and initiatives to promote energy-efficient lighting and reduce energy consumption in the industrial sector. For instance, in the European Union, regulations such as the Eco design Directive and Energy Labeling Directive have been implemented to promote energy-efficient lighting solutions. Furthermore, the increasing focus on sustainability and corporate social responsibility (CSR) is driving the adoption of energy-efficient lighting solutions in the industrial sector. Many companies are adopting sustainability goals and initiatives to reduce their carbon footprint and promote environmental sustainability. Energy-efficient lighting solutions can help companies achieve these goals and reduce their energy consumption and costs.

The trend of adopting smart lighting systems is one of the most significant and promising trends in the global industrial lighting and illumination market. Smart lighting systems use advanced sensors, software, and communication technologies to optimize lighting performance, energy efficiency, and safety. One of the key benefits of smart lighting systems is their ability to adjust lighting levels based on occupancy and natural light levels. This is achieved through the use of occupancy sensors, daylight sensors, and other smart control systems. These sensors can detect the presence of people in a particular area and adjust lighting levels accordingly, reducing energy consumption and costs. Another important benefit of smart lighting systems is their ability to provide remote control and monitoring of lighting systems. This is achieved through wireless communication technologies such as ZigBee, Bluetooth, or Wi-Fi, which allow lighting systems to be controlled and monitored from a central location. This can help facility managers to optimize energy consumption, identify faults and malfunctions, and track maintenance needs, reducing maintenance costs and improving operational efficiency. Smart lighting systems also provide improved safety and security in industrial settings. For example, lighting systems can be programmed to switch on automatically when a worker enters a particular area, providing increased visibility and reducing the risk of accidents. Similarly, lighting systems can be integrated with security systems to provide enhanced security and surveillance. In addition to these benefits, smart lighting systems are also highly customizable, allowing industrial companies to tailor lighting solutions to meet their unique needs and requirements. This includes the ability to choose from a wide range of lighting colors, intensities, and temperatures, as well as the ability to integrate lighting with other industrial processes and technologies.

The Asia Pacific region is expected to be the fastest-growing market for industrial lighting and illumination, accounting for a significant share of the market. The Asia Pacific region is experiencing rapid industrialization, with countries such as China, India, and Indonesia witnessing significant growth in their manufacturing sectors. This is driving demand for industrial lighting and illumination solutions in the region. Governments in the Asia Pacific region are placing greater emphasis on energy efficiency and sustainability in the industrial sector. This is driving demand for energy-efficient lighting solutions, which can help industrial facilities reduce their carbon footprint and operating costs. LED lighting technology is rapidly gaining popularity in the Asia Pacific region, thanks to its energy efficiency and long lifespan. This is driving growth in the LED industrial lighting segment in the region. The Asia Pacific region is home to several key manufacturers of industrial lighting and illumination solutions, including Signify (formerly Philips Lighting), Osram, and Panasonic. These companies have a strong presence in the region and are driving innovation and growth in the market. There is a growing demand for smart lighting solutions in the Asia Pacific region, driven by the increasing adoption of industrial automation and the Internet of Things (IoT). Smart lighting solutions offer advanced features such as remote control, automation, and energy management, which are highly valued by industrial customers in the region.

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Global Industrial Lighting & Illumination Market

Product ID: SQMIG20D2072

$5,300
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