Industrial LED Market Overview, Growth, and Trends (2021-2031)

MARKET INTRODUCTION

Rapid infrastructural development, increasing modernization, and rising penetration of LEDs, due to their reducing price are the major driving factor for the growth of the industrial LED market during the forecast period. Moreover, the various benefits associated with LEDs such as low energy consumption, durability, and long life are also fueling the demand for the industrial LED market in the coming years.

MARKET DYNAMICS

Rapid industrialization and rapid economic growth, government campaign toward the adoption of LEDs, technological development in the LED, and surge in need for replacing traditional lighting over conventional lighting are some of the factors that are triggering the demand for the industrial LED market. Moreover, growing awareness about lighting technologies and the increase in demand for smart lighting solutions is expected to provide ample opportunities for the industrial LED market growth in the coming years.

MARKET SCOPE

The "Global Industrial LED Market Analysis to 2031" is a specialized and in-depth study of the industrial LED industry with a special focus on the global market trend analysis. The report aims to provide an overview industrial LED market with detailed market segmentation as product, application, end-user, and geography. The global industrial LED market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading industrial LED market players and offers key trends and opportunities in the industrial LED market.

MARKET SEGMENTATION

The global industrial LED market is segmented on the basis of product, application, end-user. On the basis of product the market is segmented as LED lamps, LED fixtures. On the basis of application the market is segmented as indoor lighting, outdoor lighting. On the basis of end-user the market is segmented as oil and gas, mining, pharmaceutical, manufacturing, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global industrial LED market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The industrial LED market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting industrial LED market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the industrial LED market in these regions.

MARKET PLAYERS

The reports cover key developments in the industrial LED market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Industrial LED market are anticipated to lucrative growth opportunities in the future with the rising demand for industrial LED in the global market. Below mentioned is the list of few companies engaged in the industrial LED market.

The report also includes the profiles of key industrial LED companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   Acuity Brands Lighting, Inc.
•   Cree, Inc
•   Dialight
•   Eaton Corporation
•   GE Current, a Daintree company
•   Hubbell Lighting, Inc.
•   Koninklijke Philips N.V.
•   Legrand
•   OSRAM
•   Zumtobel Group AG
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Industrial LED Report Scope