LED Trunking Market | 2031 Strategic Insights | Recent updates
The LED Trunking Market size is projected to reach US$ 8.87 billion by 2031 from US$ 5.73 billion in 2023. The market is expected to register a CAGR of 5.6% in 2023–2031. Modular design and smart lighting are likely to remain key LED Trunking Market trends.
LED Trunking Market Analysis
LED linear trunking systems are continuous-row lighting assemblies that use trunking rails to connect individual lighting fixtures/subassemblies, such as LED light modules, power supplies, lighting controls, emergency battery packs, and/or other features. Flexible trunking systems can be built in a variety of ways to satisfy the demanding requirements for interior lighting in commercial and industrial buildings.
LED Trunking Market Overview
Many commercial buildings and industrial facilities are large and have sophisticated infrastructure, necessitating careful system integration and planning. Lighting design for these places is about more than just meeting quality, quantity, and operating standards. Interiors of large commercial buildings, such as supermarkets, hypermarkets, department stores, warehouses, distribution centers, trade centers, exhibition halls, office buildings, and so on, are more concerned with the networking and control capabilities of lighting devices, as well as the overall life-cycle costs of lighting. This is driving the demand for LED trunking products in the market.
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LED Trunking Market: Strategic Insights
Market Size Value in US$ 5.33 Billion in 2018 Market Size Value by US$ 8.86 Billion by 2027 Growth rate CAGR of 5.9% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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LED Trunking Market: Strategic Insights
![led-trunking-systems-market](https://www.theinsightpartners.com/assets/rdimages/led-trunking-systems-market-img1.png)
Market Size Value in | US$ 5.33 Billion in 2018 |
Market Size Value by | US$ 8.86 Billion by 2027 |
Growth rate | CAGR of 5.9% from 2019-2027 |
Forecast Period | 2019-2027 |
Base Year | 2019 |
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LED Trunking Market Drivers and Opportunities
Energy Efficiency to Favor Market
LED linear trunking systems are an energy-efficient, high-performance, and low-maintenance alternative to traditional linear fluorescent lighting systems that are ideal for open space, low-bay applications. LED lighting technology overcomes many of the disadvantages of fluorescent lighting by greatly improving energy conversion efficiency, strong controllability, high durability and dependability, longer lifespan, instant-on/rapid cycling, and compact form factors. When it comes to the advantages of LED linear trunking systems, their incredible design flexibility, unrivaled performance, ease of installation, and sophisticated digital control open up new horizons for innovative commercial lighting schemes that are not possible with traditional lighting technologies or other LED lighting systems.
Integration with IoT – An Opportunity in the LED Trunking Market
The LED trunking system can be enhanced with sensors that enable the integration of retail and warehouse technology, such as cameras, beacons, audio, and scanners, into a single system. In 2017, Philips Lighting today unveiled its new LED lighting trunking solution for retail and industrial environments, the Philips Maxos Fusion. This connected-ready system helps to future-proof buildings by combining high-quality LED lighting with the ability to change light effects and scale the system with other Internet of Things technologies. Auchan Hypermarket in Saint-Priest, France, was the first to install Philips Maxos Fusion and benefit from the ability to complement its shop layout with a configurable lighting design that provides future alternatives.
LED Trunking Market Report Segmentation Analysis
Key segments that contributed to the derivation of the LED Trunking market analysis are type and application.
- Based on the type, the LED Trunking market is divided into narrow distribution and wide distribution. The wide distribution segment held the largest share of the market in 2023.
- Based on the application, the LED Trunking market is divided into commercial, industrial, warehouse, and others.
LED Trunking Market Share Analysis by Geography
The geographic scope of the LED Trunking Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific has dominated the LED Trunking Market. The region has experienced rapid urbanization and industrialization in the past decade, which increases the need for energy-efficient lighting solutions to support sustainable infrastructure. Moreover, government regulation and initiatives to promote energy-efficient lighting in industrial and commercial settings are further to drive the growth of the market.
LED Trunking Market Report Scope
LED Trunking Market News and Recent Developments
The LED Trunking Market is evaluated by gathering qualitative and quantitative data post-post-primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for LED Trunking Market and strategies:
- Osram developed a new industrial LED driver. OSRAM's new 300-watt LED driver broadens the power spectrum of the OTi DALI product line. It is an excellent solution for both linear industrial lighting, such as trunking systems, and high-bay luminaires. (Source: Osram, Press Release, 2021)
LED Trunking Market Report Coverage and Deliverables
The “LED Trunking Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type and Application
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
In terms of revenue, the wide distribution segment held the major market share in 2023.
The key players holding majority shares in the global LED Trunking market are LEDYi Lighting, Diodeled, GE Lighting, LED Linear, and SIRS-E LED.
Modular design and smart lighting are anticipated to bring new LED Trunking Market trends in the coming years.
Longer lifespan and decreasing LED costs are the major factors that propel the global LED Trunking Market growth.
The global LED Trunking Market was estimated to be US$ 5.73 billion in 2023 and is expected to grow at a CAGR of 5.6% during the forecast period 2024 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.