IMARC Group has recently released a new research study “Industrial and Commercial LED Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Industrial and Commercial LED Lighting Industry?
The global Industrial and Commercial LED Lighting Market size reached US$ 37.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 83.1 Billion by 2027, exhibiting a growth rate (CAGR) of 12.70%during 2022-2027.
What is a Industrial and Commercial LED Lighting? Light-emitting diode (LED) lights refer to semiconductor devices that emit infrared or visible light. They are highly energy efficient as they produce less waste and are more useful lumens compared to other lighting technologies. LED lights are considered environment-friendly lighting solutions as their production does not require the utilization of mercury.
In addition, they offer various advantages, such as long shelf life, low voltage operations, high durability, several dimming features, and design flexibility. As LED lights are highly effective in cold temperatures, they find widespread applications in the industrial and commercial sectors across the globe.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the Industrial and Commercial LED Lighting Market ?
The escalating demand for cost-effective lighting solutions in large and small enterprises and the rising product utilization in large screen displays are among the primary factors driving the industrial and commercial LED lighting market.
Besides this, the elevating need for smart devices in several organizations to adjust the amount of light using control zones and the increasing number of warehouse facilities across the globe are further augmenting the market growth. Moreover, various benefits offered by industrial and commercial LED lighting in the hospitality sector, including extended shelf-life, high durability, and less energy waste, are also catalyzing the global market.
Apart from this, the launch of several policies by the government bodies to promote the use of these semiconductor appliances for minimizing power dissipation is acting as another significant growth-inducing factor. Furthermore, the growing product popularity in illuminating building structures, digital signage, statues, landscapes, and columns is anticipated to propel the industrial and commercial LED lighting market over the forecasted period.
For the competitor segment, the report includes global key players of the Industrial and Commercial LED Lighting Market
Acuity Brands lighting Inc., ams-OSRAM AG, Cree Lighting (Ideal Industries Inc.), Dialight plc, Eaton Corporation plc, Emerson Electric Co., Litetronics International Inc., Schneider Electric SE, Signify N.V., Syska Hennessy Group and Zumtobel Group.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
- LED Lamps
- LED Fixtures
Breakup by Application:
- Indoor Lighting
- Outdoor Lighting
Breakup by Distribution Channel:
- Direct Sales
- Online Stores
- Specialty Stores
- Others
Breakup by End User:
- Industrial
- Commercial
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027) • Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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