Industrial Lighting Fixtures Market

Industrial Lighting Fixtures Market -Forecast 2023
Regional Analysis:
By region, the market has been segmented into Asia Pacific, North America, Europe, and
Rest-of-the-World (RoW). North America has seen developments such as Philips Lighting
Holding B.V. (Netherlands) partnering with World Council on City Data (WCCD) which
have been fueling the market growth in the region. The constant support of the government
to the players of the market to reduce carbon emission is also one of the key drivers of the
market. In this region, the demand for LED lights is driving the growth of the market owing
to features such as longer lifespan, low cost, lower power consumption, etc. Other factors
responsible for the growth of market in the region are company’s investments in the
manufacturing of different types of industrial lights products including accent lighting, task
lighting spotlights, hanging fixtures, post lanterns, wall lighting, recessed fixtures, etc., and,
the expansion of product portfolio by key industrial lighting manufacturers.
Europe holds the potential to witness a boom in the market owing to factors such as
widespread urbanization and standardized industrialization. The adoption of LED lights has
enhanced the quality of industrial lighting which has is a key driver of the market. The Asia
Pacific market is in a developmental phase, with industries in this region still growing. It
possesses immense potential for augmented demand in the coming years. Moreover, the
region is home to emerging economies such as India and China that are battling problems
of hazardous pollution. Adoption of LED lights can play a part in reducing carbon monoxide
levels and accelerate regional market growth.
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