LIGHTS TEC

LIGHTS TEC

LIGHTS TEC

Global Industrial Lighting Market 2017-2021

About Industrial Lighting

The lighting industry includes general lighting, automotive lighting, and backlighting. The general lighting market is the major revenue-generating segment, followed by automotive lighting and backlighting. The general lighting market includes lighting applications for residential, industrial, commercial, outdoor, and architectural purposes. The residential and commercial segments are the major drivers for the general lighting market. General lighting can be either traditional or LED lighting. Traditional lighting is categorized into linear fluorescent lamps (LFLs), compact fluorescent lamps (CFLs), and others which include incandescent bulbs, halogens, and high-intensity discharge (HID) lights. The traditional lighting market will observe a decline in sales due to the rising popularity of LED technology.

Analysts forecast the global industrial lighting market to grow at a CAGR of 2.18% during the period 2017-2021.

Global Industrial Lighting Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The market is seeing rapid advances in lighting technologies. For example, in the residential sector, incandescent, CFL, and halogen lighting technologies dominated the market in terms of revenue contribution in 2015. We expect that LEDs will emerge as the major revenue contributor in the residential sector during the forecast period. The technological transitions in the market are moving toward product enhancements aimed at better efficiency and power-saving capabilities. These technological transitions in the market will also force vendors to be more responsive to the technological needs of the customers.

Strong government support is one of the major factors driving the growth in the global industrial lighting market. The Chinese government is looking at reducing power generation from coal plants, expanding the nuclear power generation base, encouraging green technologies in all areas of manufacturing and promoting efficient lighting technologies to reduce power consumption. The government plans to provide subsidies to LED lighting manufacturers to scale up and encourage the production of innovating lighting solutions. All these government efforts are focusing on increasing the adoption of LEDs in the domestic market, which, in turn, will increase the growth prospects of the market during the forecast period.


Recommended

wechat

WeChat contact us