HOME Top Market Reports Industrial Lighting Market by Light Source (LED, HID, Fluorescent), Offering (Lamps & Luminaires, Control Systems, Services), Installation Type (New, Replacement, Retrofit), Product, Application, and Geography - Global Forecast to 2023

Industrial Lighting Market by Light Source (LED, HID, Fluorescent), Offering (Lamps & Luminaires, Control Systems, Services), Installation Type (New, Replacement, Retrofit), Product, Application, and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: SE 5478

 

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The industrial lighting market was valued at USD 7.59 Billion in 2016 and is expected to be worth USD 13.17 Billion by 2023, growing at a CAGR of 7.82% between 2017 and 2023.

The objective of this report is to define, describe, and forecast the market size and growth potential of the industrial lighting market across different segments such as light source, offering, installation type, product, application, and geography. This report includes the forecast of the market size, in terms of value, with respect to four main regions North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. It also profiles the key players operating in the industrial lighting market. The base year considered for this report is 2016, and the forecast period for the market has been considered between 2017 and 2023. The growth of this market is driven by the factors such as increasing modernization and infrastructural development; growing penetration of LEDs, due to their reducing price, across diversified industrial applications; durability of LED lights for industrial usage; and low energy consumption by LEDs.

The research methodology used to estimate and forecast the market begins by capturing the revenues of the key players and their shares in the market. Few organizations associated with the market include Global Lighting Association, Lighting Controls Association, and LEDinside. Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of the primary respondents is depicted in the following figure:

Industrial Lighting Market

To know about the assumptions considered for the study, download the pdf brochure

The value chain of the overall industrial lighting market includes various activities and factors that help achieve a high level of performance with respect to a service or a product. The key players operating across the value chain of the industrial lighting market are Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting, Inc. (US), Emerson (US), Legrand (France), Acuity Brands Lighting, Inc. (US), TOYODA GOSEI Co., Ltd (Japan), Cree, Inc. (US), General Electric (US) , Osram Licht AG (Germany), and Zumtobel Group (Austria).

Key Target Audience:

  • Component and equipment suppliers
  • Original equipment manufacturers (OEMs)
  • Original design manufacturers (ODMs)
  • Installers and maintenance service providers
  • Research organizations
  • Component integrators
  • Technology providers

Scope of the Report:

The industrial lighting market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. In this report, the market has been segmented as follows:

Industrial Lighting Market, By Light Source

  • LED Lighting
  • High Intensity Discharge (HID) Lighting 
  • Fluorescent Lighting 
  • Others

Industrial Lighting Market, By Offering

  • Lamps & Luminaires
  • Control Systems
  • Services

Industrial Lighting Market, By Installation Type

  • New Installation
  • Replacement Installation
  • Retrofit Installation

Industrial Lighting Market, By Product

  • Industrial Linear Lighting
  • Spot Lighting
  • Flood Lighting/Area Lighting
  • High Bay Lighting

Industrial Lighting Market, By Application

  • Warehouse & Cold Storage
  • Factory & Production Lines
  • Outer Premises
  • Parking Areas
  • Hazardous Locations
  • Others

Geographic Analysis

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Country-wise breakdown of all regions by application
  • Detailed analysis and profiling of additional five market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Study Objectives
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Market Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis (Supply Side)
    2.3 Data Triangulation
    2.4 Process Flow of Market Size Estimation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 37)
    4.1 Major Opportunities in the Industrial Lighting Market During the Forecast Period
    4.2 Industrial Lighting Market, By Light Source
    4.3 Industrial Lighting Market in APAC, By Type and Country
    4.4 Industrial Lighting Market, By Country
    4.5 Industrial Lighting Market, By Application

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Dynamics: Industrial Lighting Market
           5.2.1 Drivers
                    5.2.1.1 Increasing Modernization and Infrastructural Development
                    5.2.1.2 Growing Penetration of LEDs, Due to Reducing Price, Across Diversified Industrial Applications
                    5.2.1.3 Durability of LED Lights for Industrial Usage
                    5.2.1.4 Low Energy Consumption By LEDs
           5.2.2 Restraints
                    5.2.2.1 Lack of Standardization Across Industries
                    5.2.2.2 High Cost of Equipment and Implementation
           5.2.3 Opportunities
                    5.2.3.1 Development of Wireless Control Platforms for LEDs
                    5.2.3.2 Use of LEDs in Wireless Data Transfer
           5.2.4 Challenges
                    5.2.4.1 Low Profit Margin of LED Lighting Products

6 Industry Trends (Page No. - 47)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Research and Product Developers
           6.2.2 Lighting Chips and Packages
           6.2.3 Key Technology Providers
           6.2.4 Distributors
           6.2.5 End-Users
    6.3 Regulatory Standards
    6.4 Government Initiative Programs
           6.4.1 Digital Agenda for Europe
           6.4.2 Findings From Green Paper on Ssl
           6.4.3 Research and Development
           6.4.4 Energy Conservation Initiatives in Africa
           6.4.5 Unep-Lites.Asia (A Workshop on Regional Lighting Policy)

7 Industrial Lighting Market, By Light Source (Page No. - 52)
    7.1 Introduction
    7.2 LED Lighting
           7.2.1 Types of LEDs
    7.3 High Intensity Discharge (HID) Lighting
    7.4 Fluorescent Lighting
    7.5 Others

8 Industrial Lighting Market, By Offering (Page No. - 62)
    8.1 Introduction
    8.2 Lamps & Luminaires
    8.3 Control Systems
    8.4 Services
           8.4.1 Pre-Installation
           8.4.2 Post-Installation

9 Industrial Lighting Market, By Installation Type (Page No. - 68)
    9.1 Introduction
    9.2 New Installation
    9.3 Replacement Installation
    9.4 Retrofit Installation

10 Industrial Lighting Market, By Product (Page No. - 74)
     10.1 Introduction
     10.2 Industrial Linear Lighting
     10.3 Spot Lighting
     10.4 Flood Lighting/Area Lighting
     10.5 High Bay Lighting

11 Industrial Lighting Market, By Application (Page No. - 82)
     11.1 Introduction
     11.2 Warehouse & Cold Storage
     11.3 Factory & Production Lines
     11.4 Outer Premises
     11.5 Parking Areas
     11.6 Hazardous Locations
     11.7 Others

12 Geographical Analysis (Page No. - 95)
     12.1 Introduction
     12.2 North America
             12.2.1 US
             12.2.2 Canada
             12.2.3 Mexico
     12.3 Europe
             12.3.1 Germany
             12.3.2 UK
             12.3.3 France
             12.3.4 Rest of Europe
     12.4 Asia-Pacific (APAC)
             12.4.1 China
             12.4.2 Japan
             12.4.3 India
             12.4.4 Rest of APAC
     12.5 Rest of the World (RoW)

13 Competitive Landscape (Page No. - 116)
     13.1 Introduction
     13.2 Market Ranking of Players, 2016
     13.3 Competitive Leadership Mapping
             13.3.1 Visionary Leaders
             13.3.2 Dynamic Differentiators
             13.3.3 Emerging Companies
             13.3.4 Innovators
     13.4 Competitive Benchmarking
             13.4.1 Strength of Product Portfolio (25 Companies)
             13.4.2 Business Strategy Excellence (25 Companies)

Top Companies Analyzed for This Study are - Emerson; Philips Lighting Holding B.V.; General Electric; Schneider Electric; Acuity Brands Lighting, Inc.; Hubbell Incorporated; Legrand; Ushio America, Inc; Litetronics International, Inc.; Cree, Inc. ; Lg Innotek; Osram Licht Ag; Leviton Manufacturing Co., Inc.; Zumtobel Group Ag; Eaton; Dialight; Advanced Lighting Technologies, Inc.; Aixtron Se; LED Engin, Inc; Lumenpulse Group; TOYODA GOSEI Co., Ltd. the Luma Group, Inc.; Digital Lumens, Inc.; Fulham Co., Inc.; LED Lighting Systems

14 Company Profiles (Page No. - 121)
     14.1 Introduction
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     14.2 Philips Lighting Holding B.V.
     14.3 Emerson
     14.4 Osram Licht AG
     14.5 Cree, Inc.
     14.6 Acuity Brands Lighting, Inc.
     14.7 Legrand
     14.8 Zumtobel Group AG
     14.9 Hubbell Lighting, Inc.
     14.10 General Electric Co.
     14.11 TOYODA GOSEI Co., Ltd.
     14.12 Key Innovators
             14.12.1 Digital Lumens, Inc.
             14.12.2 Fulham Co., Inc.
             14.12.3 LED Engin, Inc
             14.12.4 Lumenpulse Group
             14.12.5 LED Lighting Systems, LLC

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 157)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details


List of Tables (70 Tables)

Table 1 The Trend of Declining LED Cost Price
Table 2 Factors Supporting the Adoption of LED Lighting Solution
Table 3 Recommended Levels of Illumination in Warehousing and Storage Industry
Table 4 Recommended Levels of Illumination in Textile Mills - Cotton Industry
Table 5 Recommended Levels of Illumination in Machine Work Shops
Table 6 Recommended Levels of Illumination in Paper Manufacturing Industry
Table 7 Industrial Lighting Market, By Light Source, 2014–2023 (USD Million)
Table 8 Industrial Lighting Market for LED, By Application, 2014–2023 (USD Million)
Table 9 Industrial Lighting Market for LED, By Region, 2014–2023 (USD Million)
Table 10 Industrial Lighting Market for HID, By Application, 2014–2023 (USD Million)
Table 11 Industrial Lighting Market for HID, By Region, 2014–2023 (USD Million)
Table 12 Industrial Lighting Market for Fluorescent Lighting, By Application, 2014–2023 (USD Million)
Table 13 Industrial Lighting Market for Fluorescent, By Region, 2014–2023 (USD Million)
Table 14 Industrial Lighting Market for Other Light Sources, By Application, 2014–2023 (USD Million)
Table 15 Industrial Lighting Market for Other Light Sources, By Region, 2014–2023 (USD Million)
Table 16 Industrial Lighting Market, By Offering, 2014–2023 (USD Million)
Table 17 Industrial LED Lighting Market for Lamps & Luminaires, 2014–2023 (USD Million, Million Units)
Table 18 Industrial Lighting Market for Lamps & Luminaires, By Region, 2014–2023 (USD Million)
Table 19 Industrial Lighting Market for Control Systems, By Region, 2014–2023 (USD Million)
Table 20 Industrial Lighting Market for Services, By Region, 2014–2023 (USD Million)
Table 21 Industrial Lighting Market, By Installation Type, 2014–2023 (USD Million)
Table 22 Industrial Lighting Market for New Installation, By Region, 2014–2023 (USD Million)
Table 23 Industrial Lighting Market for Replacement Installation, By Region, 2014–2023 (USD Million)
Table 24 Industrial Lighting Market for Retrofit Installation, By Region, 2014–2023 (USD Million)
Table 25 Industrial Lighting Market, By Product, 2014–2023 (USD Million)
Table 26 Industrial Lighting Market for Industrial Linear Lighting, By Application, 2014–2023 (USD Million)
Table 27 Industrial Lighting Market for Spot Lighting, By Region, 2014–2023 (USD Million)
Table 28 Industrial Lighting Market for Spot Lighting, By Application, 2014–2023 (USD Million)
Table 29 Industrial Lighting Market for Flood Lighting/Area Lighting, By Region, 2014–2023 (USD Million)
Table 30 Industrial Lighting Market for Flood Lighting/Area Lighting, By Application, 2014–2023 (USD Million)
Table 31 Industrial Lighting Market for High Bay Lighting, By Region, 2014–2023 (USD Million)
Table 32 Industrial Lighting Market for High Bay Lighting, By Application, 2014–2023 (USD Million)
Table 33 Industrial Lighting Market, By Application, 2014–2023 (USD Million)
Table 34 Illumination Level That Should Be Maintained in Warehouse and Cold Storage at Different Instances
Table 35 Industrial Lighting Market for Warehouse & Cold Storage, By Product, 2014–2023 (USD Million)
Table 36 Industrial Lighting Market for Warehouse & Cold Storage, By Light Source, 2014–2023 (USD Million)
Table 37 Illumination Level That Should Be Maintained in Factory at Different Instances
Table 38 Industrial Lighting Market for Factory & Production Lines, By Product, 2014–2023 (USD Million)
Table 39 Industrial Lighting Market for Factory & Production Lines, By Light Source, 2014–2023 (USD Million)
Table 40 Industrial Lighting Market for Outer Premises, By Product, 2014–2023 (USD Million)
Table 41 Industrial Lighting Market for Outer Premises, By Light Source, 2014–2023 (USD Million)
Table 42 Industrial Lighting Market for Parking Areas, By Product, 2014–2023 (USD Million)
Table 43 Industrial Lighting Market for Parking Areas, By Light Source, 2014–2023 (USD Million)
Table 44 Illumination Levels That Should Be Maintained in Hazardous Locations at Different Instances
Table 45 Industrial Lighting Market for Hazardous Locations, By Product, 2014–2023 (USD Million)
Table 46 Industrial Lighting Market for Hazardous Locations, By Light Source, 2014–2023 (USD Million)
Table 47 Industrial Lighting Market for Other Applications, By Product, 2014–2023 (USD Million)
Table 48 Industrial Lighting Market for Other Applications, By Light Source, 2014–2023 (USD Million)
Table 49 Industrial Lighting Market, By Region, 2014–2023 (USD Million)
Table 50 Industrial Lighting Market in North America, By Light Source, 2014–2023 (USD Million)
Table 51 Industrial Lighting Market in North America, By Offering, 2014–2023 (USD Million)
Table 52 Industrial Lighting Market in North America, By Installation Type, 2014–2023 (USD Million)
Table 53 Industrial Lighting Market in North America, By Product, 2014–2023 (USD Million)
Table 54 Industrial Lighting Market in North America, By Country, 2014–2023 (USD Million)
Table 55 Industrial Lighting Market in Europe, By Light Source, 2014–2023 (USD Million)
Table 56 Industrial Lighting Market in Europe, By Offering, 2014–2023 (USD Million)
Table 57 Industrial Lighting Market in Europe, By Installation Type, 2014–2023 (USD Million)
Table 58 Industrial Lighting Market in Europe, By Product, 2014–2023 (USD Million)
Table 59 Industrial Lighting Market in Europe, By Country, 2014–2023 (USD Million)
Table 60 Industrial Lighting Market in APAC, By Light Source, 2014–2023 (USD Million)
Table 61 Industrial Lighting Market in APAC, By Offering, 2014–2023 (USD Million)
Table 62 Industrial Lighting Market in APAC, By Installation Type, 2014–2023 (USD Million)
Table 63 Industrial Lighting Market in APAC, By Product, 2014–2023 (USD Million)
Table 64 Industrial Lighting Market in APAC, By Country, 2014–2023 (USD Million)
Table 65 Industrial Lighting Market in RoW, By Light Source, 2014–2023 (USD Million)
Table 66 Industrial Lighting Market in RoW, By Offering, 2014–2023 (USD Million)
Table 67 Industrial Lighting Market in RoW, By Installation Type, 2014–2023 (USD Million)
Table 68 Industrial Lighting Market in RoW, By Product, 2014–2023 (USD Million)
Table 69 Industrial Lighting Market in RoW, By Country, 2014–2023 (USD Million)
Table 70 Market Ranking for the Industrial Lighting Market, 2016


List of Figures (58 Figures)

Figure 1 Industrial Lighting Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Industrial Lighting Market, 2014–2023
Figure 6 LED Lighting Segment is Expected to Witness the Highest Growth Rate in the Industrial Lighting Market During the Forecast Period
Figure 7 Lamps & Luminaires Segment is Expected to Hold the Largest Share in the Industrial Lighting Market in 2017
Figure 8 Replacement Installation Segment is Estimated to Register the Highest Growth Rate in the Industrial Lighting Market During the Forecast Period
Figure 9 Spot Lighting Segment is Estimated to Grow at the Highest Rate in the Industrial Lighting Market During the Forecast Period
Figure 10 Factory & Production Line Segment is Expected to Hold the Largest Share in the Industrial Lighting Market in 2017
Figure 11 APAC Held the Largest Share of the Industrial Lighting Market in 2016
Figure 12 Market for LED Lighting is Expected to Witness the Highest Growth Rate During the Forecast Period
Figure 13 Flood Lighting/Area Lighting Segment Held the Largest Share of the Industrial Lighting Market in APAC in 2016
Figure 14 China Dominated the Industrial Lighting Market in 2016
Figure 15 Application in Hazardous Locations to Witness the Highest Growth in the Industrial Lighting Market During the Forecast Period
Figure 16 Industrial Lighting Market Dynamics
Figure 17 Value Chain Analysis: Major Value is Added During Chip Packaging and Technology Integration Stages
Figure 18 Industrial Lighting Market, By Light Source
Figure 19 Fluorescent Lighting Expected to Hold the Largest Share of the Industrial Lighting Market in 2017
Figure 20 APAC Expected to Hold the Largest Share of the LED Lighting Market in 2017
Figure 21 Factory & Production Lines to Hold the Largest Share of the Fluorescent Lighting Market in 2017
Figure 22 Industrial Lighting Market, By Offering
Figure 23 Lamps & Luminaires to Hold the Largest Share of the Industrial Lighting Market in 2017
Figure 24 Industrial Lighting Market, By Installation Type
Figure 25 Replacement Installation to Witness the Highest Growth Rate in the Industrial Lighting Market During the Forecast Period
Figure 26 APAC to Hold the Largest Market Share for the Replacement Installation in 2017
Figure 27 Industrial Lighting Market, By Product
Figure 28 Flood Lighting/Area Lighting Expected to Dominate the Industrial Lighting Market During the Forecast Period
Figure 29 Spot Lighting is Expected to Grow at the Highest Rate in Hazardous Locations During the Forecast Period
Figure 30 Industrial Lighting Market for Flood Lighting/Area Lighting in RoW Expected to Grow at the Highest Rate During the Forecast Period
Figure 31 Industrial Lighting Market, By Application
Figure 32 Factory & Production Lines Expected to Hold the Largest Share of the Industrial Lighting Market in 2017
Figure 33 LED Lighting Expected to Register High Growth Rate in the Warehouse & Cold Storage Application During the Forecast Period
Figure 34 Flood Lighting/Area Lighting Expected to Hold the Largest Market Share in the Outer Premises in 2017
Figure 35 Fluorescent Lighting Estimated to Hold the Largest Market Share in the Hazardous Locations in 2017
Figure 36 Industrial Lighting Market, By Geography
Figure 37 Geographic Snapshot of the Industrial Lighting Market
Figure 38 Industrial Lighting Market in North America
Figure 39 Snapshot of the Industrial Lighting Market in North America
Figure 40 Industrial Lighting Market in Europe
Figure 41 Snapshot of the Industrial Lighting Market in Europe
Figure 42 Industrial Lighting Market in APAC
Figure 43 Snapshot of the Industrial Lighting Market in APAC
Figure 44 Industrial Lighting Market in RoW
Figure 45 Snapshot of the Industrial Lighting Market in RoW
Figure 46 Key Growth Strategy Adopted By the Companies Between 2014 and 2017
Figure 47 Competitive Leadership Mapping, 2016
Figure 48 Geographic Revenue Mix of Major Companies, 2016
Figure 49 Philips Lighting Holding B. V.: Company Snapshot
Figure 50 Emerson: Company Snapshot
Figure 51 Osram Licht AG: Company Snapshot
Figure 52 Cree, Inc.: Company Snapshot
Figure 53 Acuity Brands Lighting, Inc.: Company Snapshot
Figure 54 Legrand: Company Snapshot
Figure 55 Zumtobel Group: Company Snapshot
Figure 56 Hubbell Lighting, Inc.: Company Snapshot
Figure 57 General Electric Co.: Company Snapshot
Figure 58 Toyoda Gosei Co., Ltd.: Company Snapshot

According to the MarketsandMarkets forecast, the industrial lighting market is expected to be worth USD 13.17 Billion by 2023, growing at a CAGR of 7.82% between 2017 and 2023. The major drivers for the market include modernization and infrastructural development, durability of LED lights for industrial usage, and low energy consumption by LEDs.

The report covers the industrial lighting market on the basis of light source, offering, installation type, product, application, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. It also profiles the key players operating in the industrial lighting market.

The factory and production lines application held a larger share of the industrial lighting market in 2016. Factory and production lines are upgrading to critical lighting solutions, such as LEDs and connected lighting solution, to receive an immediate payback on their investment through improved light quality and control. The factory and production lines is the largest application area for industrial lighting solutions. The variety of work performed in the industry can vary tremendously from production to machining. Therefore, every lighting solution needs to be customized according to the available space and the complexity of the task being performed.

On the basis of product, the flood lighting/area lighting held the largest share in 2016, while spot lighting is expected to grow at the highest rate during the forecast period. Flood lighting or area lighting solutions are increasingly being used for the applications such as warehouses, industrial outer premises, and parking areas. These lighting solutions provide bright light to these areas and ensure its safety and security. This lighting system is one of the common products offered by many companies in their product portfolio.

Industrial Lighting Market

Asia Pacific (APAC) dominates the industrial lighting market; however, RoW is expected to grow at the highest rate during the forecast period. The countries in the RoW region are likely to witness an extensive growth in infrastructural building projects. Therefore, the industrial lighting market in this region is expected to exhibit a high growth.

Low profit margin of LED lighting products may appear as a challenge for manufacturers in the industrial lighting market. The major vendors in industrial lighting market are Philips Lighting Holding B.V. (Netherlands), Hubbell Lighting, Inc. (US), Emerson (US), Legrand (France), Acuity Brands Lighting, Inc. (US), TOYODA GOSEI Co., Ltd (Japan), Cree, Inc. (US), General Electric (US), Osram Licht AG (Germany), and Zumtobel Group (Austria). These players adopted various strategies such as product launches and developments, contracts, acquisitions, partnerships, and business expansions to cater to the needs of the market.

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