The growth of the industrial lighting market is fueled by factors such as increasing modernization and infrastructural development, durability of LED lights for industrial usage, and low energy consumption by LEDs. Currently, the key players in this market are adopting development strategies such as contracts, product launches and developments, and mergers and acquisitions to grow in this market.
Some of the major players in this 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 have adopted various growth strategies such as product launches and developments, partnerships, contracts, collaborations, acquisitions, and expansions to widen their global presence and increase their share in the overall industrial lighting market.
Philips Lighting Holding B.V. (Netherlands) is a leading company in the industrial lighting market and ranked first in 2016. The company was established in 1891 and has its headquarters in Eindhoven, Netherlands. The company offers its energy-efficient LED lighting to professional and consumer markets. Philips Lighting Holding B.V. is one of the industry leaders in connected lighting systems and services and leverages the Internet of Things (IoT) to help transform homes, buildings, and urban spaces. As of 2016, the company had 34,256 employees worldwide. The lighting business segment of the company operates in over 60 countries and has manufacturing facilities in Europe, South America, and Asia Pacific. The company has 95 production facilities and 60 R&D centers across the globe. Philips Lighting Holding B.V. is a global market leader with recognized expertise in the development, manufacturing, and application of innovative green lighting products, energy-efficient lighting products, systems, and services.
Emerson (US) held the second position in the industrial lighting market in 2016. The company manufactures products and provides engineering services for a wide range of industrial, commercial, and consumer markets. The company was established in 1890 and has its headquarters in Ferguson, US. As of 2016, the company had 103,500 employees worldwide. The company has 205 manufacturing locations worldwide, of which 50 are located outside the US, primarily in Europe and Asia.
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
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