Lucintel Forecasts Global Industrial Lighting Market to Reach $11.95 billion by 2030.
According to a market report by Lucintel, the future of the global industrial lighting market looks promising with opportunities in the oil and gas, mining, pharmaceutical, manufacturing and warehouse markets. The global industrial lighting market is expected to reach an estimated $11.95 billion by 2030 with a CAGR of 7.5% from 2024 to 2030. The major drivers for this market are increasing use at warehouses and logistics, rise in modernization and infrastructure development, and an expanding adoption of LED technology.
A more than 150 – page report is developed to understand trends, opportunity and forecast in industrial lighting market to 2030 by light source (LED, HID, and fluorescent), product type (high/low bay lighting and flood/area lighting), end use industry (oil and gas, mining, pharmaceutical, manufacturing, and warehouse), and region (North America, Europe, Asia Pacific, and the Rest of the World).
In this market, LED, HID and fluorescent are the major segments of industrial lighting market by light source. Lucintel forecasts that LED is expected to witness highest growth over the forecast period due to longevity, energy efficiency, low operational/maintenance costs, and the ability to deliver an increasingly shorter return on investment (ROI).
Within this market, oil and gas industry will remain the largest segment.
APAC is expected to witness highest growth over the forecast period due to swift urban expansion, robust economic growth, and growth in several industries across the region.
Eaton, Emerson, Cree, Philips, and Acuity Brands Lighting are the major suppliers in the industrial lighting market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email roy.almaguer@lucintel.com
Tel. 972.636.5056
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