Industrial Lighting Market will register a CAGR of 1% during 2020-2024. The market’s growth momentum will Accelerate.
Strong government support will be one of the major factors driving the growth of this market. Additionally, key Industrial Lighting Market trends such as the Rising need for energy-efficient LED bulbs will also influence market growth during the forecast period.
Industrial Lighting Market
Industrial Lighting Market Size
During the forecast period, the Industrial Lighting Market size will grow by $ 452.72 mn.
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Industrial Lighting Market : Vendors
The market is fragmented and owing to the growth opportunities, the level of competition among the companies in this market space will intensify further. are some of the major companies in the Industrial Lighting Market. Though the forecast period offers opportunities for vendors to increase their market share, factors such as the Absence of global LED standardization | High penetration of traditional lighting sources | Higher import duties will also challenge the growth of the companies.
Eaton Corp. Plc | IDEAL INDUSTRIES INC. | Legrand SA | LG Innotek Co. Ltd. | Nichia Corp. | OSRAM Licht AG | Panasonic Corp. | Savant Systems Inc. | Schneider Electric SE | Signify NV.list
are some of the companies covered in Technavio’s Industrial Lighting Market report for 2020-2024.
Industrial Lighting Market : Region-level Analysis
The report identifies region-level market dynamics, developments, and key markets. The regional level analysis also identifies the market share, growth momentum, and key leading countries in the Industrial Lighting Market.
The APAC will account for the largest Industrial Lighting Market share and during 2020-2024, the region will contribute to 54% of the market’s growth.
In addition to regions and the key companies involved, Technavio’s Industrial Lighting Market report also analyzes the market by LED technology | Traditional technology | APAC | Europe | North America | South America | MEA