Global Industrial And Commercial LED Lighting Market Overview And Prospects – Includes Industrial And Commercial LED Lighting Market Share
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The global industrial and commercial LED lighting market is expected to grow from $35.55 billion in 2021 to $43.20 billion in 2022 at a compound annual growth rate (CAGR) of 21.50%. The global industrial and commercial LED lighting market size is expected to grow to $94.38 billion in 2026 at a compound annual growth rate (CAGR) of 21.58%.
The increasing construction of new structures and remodeling of existing buildings are significantly driving the growth of the industrial and commercial LED lighting markets.
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The industrial and commercial LED lighting market consists of sales of industrial and commercial LED lighting by entities (organizations, partnerships, and sole proprietors) that refer to LED lighting products used in factories, industries, and other commercial spaces. Industrial and commercial LED lighting offers high quality lighting solutions that are needed for industrial and commercial applications. Certain industrial LED lighting bulbs offer four to forty times the life of traditional lighting solutions, resulting in significant cost savings.
By Product Type: LED Lamps, LED Fixtures
By Installation: New Installation, Retrofit
By Distribution: Direct Sales, Online Stores, Specialty Stores, Others
By Application: Retail, Manufacturing, Hospitality, Warehouses And Storage, Office Buildings, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific is the largest region in the global industrial and commercial LED lighting market in 2021.
Technological advancement is a key trend gaining popularity in the industrial and commercial LED lighting markets. The key players in the industrial and commercial LED lighting markets are focusing on developing technologically advanced products to strengthen their position in the market. Companies are developing and offering smart LED lights that are Wi-Fi-enabled and can be controlled by an external device via a mobile app. The smart LED lights offer safety, comfort, energy efficiency, and are cost-effective. They can be used in various applications, such as home, commercial, and industrial settings.
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Major Market Players: Deco Lighting, Dialight Plc, Eaton Corporation Plc, General Electric Company, Koninklijke Philips NV, Osram Licht AG, Toshiba Corporation, Syska, Zumtobel Group AG, Cree Inc, Cooper Industries Plc, Digital Lumens Inc, Sonaray LED Lighting and Hubbell Lighting.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Industrial And Commercial LED Lighting Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides industrial and commercial LED lighting market overviews, analyses and forecasts market size, share, industrial and commercial LED lighting market players, industrial and commercial LED lighting market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s industrial and commercial LED lighting market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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