“High energy costs have been compelling both governments and consumers to reduce their energy consumption and make use of power-saving lighting solutions. LEDs are efficient in terms of lighting and power consumption, as they limit power consumption more effectively than conventional incandescent bulbs”
The research study covers the present scenario and growth prospects of the global industrial lighting market for 2017-2021. Lighting systems are used for multiple applications in the residential, architectural, office, and industrial sectors. The report includes the market for finished lighting products that are used for industrial applications only.
LFLs and HIDs are the major lighting technologies employed in the industrial segment, as industries mainly require high-intensity bright lights. In comparison to HIDs that are used for industrial lighting applications, LEDs have lower illumination. However, LEDs are more cost-effective in terms of power consumption and have lower heat dissipation when used over extended periods.
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Technavio hardware and semiconductor analysts highlight the following three factors that are contributing to the growth of the global industrial lighting market:
- Strong government support
- Rising need for energy-efficient LED bulbs
- Upcoming major events and infrastructure projects
Strong government support
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.
Sunil Kumar Singh, a lead lighting analyst at Technavio, says, “The government in the BRIC countries is encouraging the use of LED lights by launching new programs and providing subsidies to manufacturers. China had the largest LED industry in the world and accounted for approximately 30% of the world production, as of 2015.”
Rising need for energy-efficient LED bulbs
Unlike residential customers, who use lights for only a few hours a day, industrial facilities need lighting for almost 24 hours. As the industries are more focused on profits, long life span of LED lighting system leads to low TCO, which helps in the profitability of the industries. These benefits of LEDs make them suitable for industrial customers.
“High energy costs have been compelling both governments and consumers to reduce their energy consumption and make use of power-saving lighting solutions. LEDs are efficient in terms of lighting and power consumption, as they limit power consumption more effectively than conventional incandescent bulbs,” adds Sunil.
Upcoming major events and infrastructure projects
Lack of infrastructure development is hampering the growth of the Brazilian economy. To overcome this challenge, the government is prioritizing the infrastructure development spending for the forecast period. This is also because of the Olympic Games in 2016, which will support the growing demand for roads, rails, and airports. Another set of projects planned to start by the government from 2018 is estimated at USD 64.1 billion.
The Russian lighting market is seeing an explosive growth in the LED market spurred by the government initiatives to increase energy efficiency. The Russian Railway Corporation has planned to retrofit LED lights in all railway stations across Russia. Even the railway wagons are witnessing the installation of LED lights.
- GE Lighting
- LG Innotek
- Schneider Electric
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