Industrial Lighting Market Share Worth USD 27.47 billion By 2033 | CAGR of 6.8%

Introduction

Industrial lighting is generally found in manufacturing environments such as factories, chemical plants, or refineries. Industrial lighting needs to be durable enough to withstand the harsh conditions of industries, such as vibrations, high temperature, corrosive materials, dirt, and high humidity. In addition, industrial lighting should comply with the fire and manufacturing lighting safety requirements and be fit for the purpose for which the lighting is used.

Market Dynamics

Need for Energy Saving Option and Adoption of LED Soaring the Market

According to the data released by EIA, around 32.78 quadrillions BTU of total energy was consumed by the industrial sector in the United States in 2019. Lighting forms a significant portion of their electricity expenses, which soon became the focus for manufacturers and governments across regions, as they were under pressure to decrease carbon emissions from electricity generation. The increasing need for energy-saving has compelled industrial users to invest more in energy-efficient lighting technologies. Governing bodies and regulatory institutions are also responsible for increasing awareness of energy savings through public awareness campaigns and lighting evaluation groups. The US Department of Energy’s (DOE) Solid-state Lighting (SSL) reported that these activities have resulted in the transition toward more energy-efficient lighting technologies and have contributed to the substantial rise in the penetration of LED lighting solutions. Therefore, the fluorescents and the high-intensity discharge (HID) lighting solutions are gradually starting to phase out.

The lighting vendors are constantly investing in improving the efficiency of the lighting systems and rolling out new solutions. Companies across multiple regions have increasingly started to replace end-of-life lighting products with the available energy-efficient solutions instead of completely changing their lighting solutions. In recent years, the LED industry is witnessing massive investments from several companies. This primarily has led to the emergence of innovative LED technologies that are more affordable. The high luminous efficacy, reduced energy use, greater lifespan, and decreasing average selling price (ASP) of LED lighting products are the key factors that have compelled consumers to switch to LED technology.

Impact of COVID-19

Owing to the COVID-19 pandemic, the market witnessed production halts and disruptions in the supply chain. As a result, it also weakened industrial growth, and light-manufacturing output across significant manufacturing hubs was reduced. The market has also been susceptible to increased prices, owing to the outbreak of COVID-19 in the chemical industry. For instance, in April 2020, Lumileds announced the increased cost of its LED lighting by 4%. The company attributed the same as a measure to offset costs that occurred during the pandemic. Production halts are minimal, but the supply chain still remains disrupted. For instance, in mid-March 2020, Signify Holding announced that a 3% price increase was likely to be added to all the LED and lamp product orders from April 1, 2020, owing to the additional costs in its logistic chain. By the end of March 2020, the company decided to suspend its financial outlook for FY 2020 due to market uncertainty.

 

Regional Analysis

Asia-Pacific will hold the largest market share during the forecast period due to the increasing need for energy-efficient lighting technologies across industrial applications and infrastructural development in this region. The Asia-Pacific industrial lighting market was valued at USD 2672 million in 2021 and is expected to be valued at USD 4591 million by 2030 at a CAGR of 6%. Europe will account for the second-largest market share, and the market was valued at USD 1729 million in 2021, owing to the increasing government policies across major geographies.

North America will witness steady market growth. Rising warehouses with increasing e-commerce and advanced safety and smart solutions in the oil industry will boost the market share. Latin America and Middle East & Africa will account for competitively lower growth, with the impact of the pandemic and certain governments’ changing policies.

Key Highlights

• The global industrial lighting market size was valued at USD 15.20 billion in 2024 and it is anticipated to reach from USD 16.23 billion in 2025 to USD 27.47 billion by 2033 at a CAGR of 6.8% during the forecast period (2025–2033).
• Based on the types of light source used, fluorescent light is the major shareholder in the global market. The fluorescent light segment is projected to generate USD 5836 million in 2030 and grow at a CAGR of 5% by 2030.
• Based on the product, the market for industrial lighting is segmented into high/low bay light and flood/area light. High/low light is the highest market share holder. The global high/low bay light segment is projected to generate USD 6757 million in 2030 and grow at a CAGR of 6% by 2030.
• Based on end-user applications, the oil and gas industry is the largest market holder. The oil and gas industry is projected to generate USD 2596 million in 2030 and grow at a CAGR of 5% by 2030.
• Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The market in Asia-Pacific is valued at USD 4591 million by 2030 at a CAGR 6% during the forecast period.

Competitive Players

Competitive Players in the Global Industrial Lighting Market

The key players in the global industrial lighting market are Signify Holding, Cree Inc., Eaton Corporation PLC, Emerson Electric Co., Dialight PLC, Legrand SA, Zumtobel Group AG, Acuity Brands Inc., Digital Lumens Inc. (Osram Licht AG), Trilux Lighting Ltd, Hubbell Incorporated, Larson Electronics, Hilclare Lighting, Raytec Ltd, Glamox UK, Nemalux Inc., R.Stahl Limited and ABB Installation Products Inc. (ABB Limited) among these.

Recent Developments

Market News

• In May 2021, Larson Electronics released LED Indicator Light w/ buzzer alarm, flameproof, 20-250V AC/DC, red.
• In April 2021, Signify launched a residential UV-C tabletop lamp in Asia and the Middle East, adding an extra layer of safety for schools, food outlets, retail, industry, and offices. 
• In April 2021, TRILUX announced a partnership with Sonepar in Singapore.
• In April 2021, Glamox acquired Luminell Group AS, a Norwegian company that develops and provides floodlights, searchlights, and lighting controls in the marine and offshore lighting market.
• In March 2021, Hubbell Control Solutions announced the release of a new and improved NX Distributed Intelligence Lighting Control Panel (NXP2 Series) that centralizes connection points in an enclosure providing an installer-friendly solution that reduces the time and costs to deploy code-compliant lighting control.
• In February 2021, Acuity Brands Inc. announced the sale of New York Digital Agency to Illuminations Inc, which aligns with its ongoing transformation strategy to significantly increase value to customers and sustainably grow its business.
• In January 2021, Stahloffered a LED replacement for 2x58 W fluorescent lamps and has rounded off its LED EXLUX range with the addition of the Series 6002/4 linear luminaires. 
• In January 2021, Dialight launched the Vigilant Bulkhead, a new addition to the already successful bulkhead line for the APAC and EMEA markets. 
• In December 2020, Emerson Appleton released a safe and economical solution for retrofitting a plant’s legacy HID lighting system to an energy-efficient LED system.
• In November 2020, Hillary Lighting delivered a full lighting installation at Manière De Voir’s new warehouse, which may provide significant savings and reduced energy consumption for the growing brand. 
• In September 2020, Cree Lighting integrated Travey Series LED Street Light portfolio with turtle-friendly amber light technology and Digital Addressable Lighting Interface (DALI) options for all configurations in the series.

Segmentation

Global Industrial Lighting Market: Segmentation

By Light Source

• LED
• High-intensity Discharge (HID) Lighting
• Fluorescent Lighting

By Product Type

• High/Low Bay Lighting
• Flood/Area Lighting

By End-user Application

• Oil and Gas
• Mining
• Pharmaceutical
• Manufacturing
• Warehouse
• Other End-user Applications

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa