Industrial Lighting Market worth 13.17 Billion USD by 2023

1. Industrial Lighting Market - Increasing modernization and infrastructural development driving the growth of Market Industrial Lighting Market, Industrial Lighting Market size, Industrial Lighting Market growth, Industrial Lighting Market analysis, Industrial Lighting Market forecast, Industrial Lighting Market share The report "Industrial Lighting Market by Light Source (LED, HID, Fluorescent), Offering (Lamps & Luminaires, Control Systems, Services), Installation Type (New, Replacement, Retrofit), Product, Application, and Geography - Global Forecast to 2023", The industrial lighting market is expected to be worth USD 13.17 Billion by 2023, growing at a CAGR of 7.82% between 2017 and 2023. The growth of this market is driven by the factors such as increasing modernization and infrastructural development, growing penetration of LEDs across diversified industrial applications due to reducing price, durability of LED lights for industrial usage, and low energy consumption by LEDs. Don’t miss out on business opportunities inIndustrial Lighting Market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=123080765 Lamps and luminaires expected to lead the overall industrial lighting market The lamps and luminaires segment is expected to hold the largest share of the overall industrial lighting market during the forecast period. The highest share of the lamps and luminaires segment is attributed to the rapid penetration of LED lighting and the corresponding demand for technologically advanced LED lighting fixtures. Moreover, the benefits such as less power consumption, high efficiency, and comparatively longer life span associated with LEDs would drive the growth of the industrial lighting market for the lamps and luminaires segment during the forecast period. Browse and in-depth TOC on “Industrial Lighting Market” 70 – Tables 58– Figures 164 – Pages View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/industrial-lighting-market-123080765.html The market for LED lighting to grow at the highest rate during the forecast period

2. The market for LED lighting is expected to grow at the highest rate between 2017 and 2023. LED lighting has the potential to reduce the amount of energy consumed in lighting applications. Moreover, LED has now evolved as a major lighting technology with a longer life, greater durability, flexibility, energy efficiency, and nontoxicity compared with other lighting solutions. APAC held the largest share of the industrial lighting market in 2016 Asia Pacific (APAC) held the largest share of the industrial lighting market in 2016 owing to the high industrial and infrastructure development in the region and the need for energy-efficient lighting technologies across the industrial applications segment including warehouse and cold storage, factory and production lines, and parking spaces. The key players operating across the value chain of the industrial lighting market are Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting, Inc. (US), Emerson (US), Legrand (France), Acuity Brands Lighting, Inc. (US), TOYODA GOSEI Co., Ltd (Japan), Cree, Inc. (US), General Electric (US) , Osram Licht AG (Germany), and Zumtobel Group (Austria). Get more insight on other verticals of Semiconductor and Electronics Market Research Reports & Consulting About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model –GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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