Global High Bay Lighting Market
Global High Bay Lighting Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027 at a CAGR of XX % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The key market drivers include increasing penetration of LEDs owing to their low costs, high durability of LEDs, and low energy consumption.
The energy saving capability of such devices results in minimizing the electricity bills. The energy deficient nations are going for a demand-side management program to optimize their energy efficiency. Hence, usage of such lights in commercial and industrial appliances helps significantly to achieve demand-side management. Financial benefits such as low operational costs of such devices and short payback period tend to drive up the demand for high bay
lights. The advancement in technology of such lights by incorporating networked communications, sensors, and several others enhance their reduction in energy consumption and functionality. In addition, using such lights ensures safety in a hazardous environment. The factor intervening in the market growth of high bay lighting technology is its high upfront cost.
The increasing energy prices and the importance of improving energy efficiency contribute to high bay lighting market development. North America followed by the Asia Pacific is expected to occupy a major share in the global high bay lighting market due to improved infrastructural developments occurring in such regions. In addition growth in manufacturing facilities in China and India is also assumed to result in the progression of such lighting market in the Asia Pacific region. Europe’s slow recovery from the economic recession is likely to offer gradual development of high bay lighting market. In the rest of the world, the high bay lighting market is estimated to experience advancement due to upcoming commercial buildings such as shopping malls.
The high bay lighting market segmentation is done on the end user type’s basis. Such lights are designed to suit various uses, facility sizes, management structures and numerous other criteria. The important end-user segments for such technology market include sports facilities, industries, warehouses such as commercial and retail warehouse, garages, and transportation lightings. In sports facilities LED fixtures are used to meet the challenges of large spaces, changing light usage patterns to support the athletic activities. Bright lighting devices with low power requirement are preferred in manufacturing facilities to sustain the complex manufacturing operations. The lighting devices which guarantee clean and controllable light levels are an apt option for transportation facilities. With the right amount of light illuminating the critical work areas, such facilities can move safely.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by product type, end user, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the high bay lighting market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of Global High Bay Lighting Market
Global High Bay Lighting Market, By End User
• Sport Facilities
• Transportation Lightings
Global High Bay Lighting Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global High Bay Lighting Market
• Ichikoh Industries Ltd.
• Magneti Marelli S.P.A.
• Osram Licht AG
• GE Lighting
• Koito Manufacturing Co. Ltd.
• Stanley Electric Co., Ltd.
• Hella KGaA Hueck & Co.
• Koninklijke Philips N.V.
• Zizala Lichtsysteme GmbH.
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Global High Bay Lighting MarketSource: Global High Bay Lighting Market