Global Specialty Lighting Market, By Light Source (Light-Emitting Diode (LED), Halogen Lamps, Xenon Bulbs, Incandescent Lamps), Application (Entertainment, Medical, UV Lamps, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, SPAIN, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Specialty Lighting Market
Specialty lighting market size is valued at USD 8.91 billion by 2028 and is expected to grow at a compound annual growth rate of 5.50% in the forecast period of 2021 to 2028. Data Bridge Market Research report on specialty lighting provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Specialty lighting is the type of lighting which offers illumination and power distribution solutions for industrial, commercial and residential sectors. Also the specialty lighting continues to support the retail, hospitality, education, healthcare, furnishings and commercial markets.
The high adoption of surgical lighting for minor and major surgical procedures have been directly influencing the growth of specialty lighting market over the forecast period of 2021 to 2028. Also the rapidly increasing penetration and decreasing cost of LEDS is also flourishing the growth of the specialty lighting market. In addition, the strict government regulations for air, water and surface disinfection as well as rising number of live music events and concerts are also positively impacting the growth of the market. Furthermore, the ever-increasing adoption of lighting solutions for particular purposes and the growing need for enhanced illumination across entertainment, medical and other industries which is also acting as an active growth driver towards the growth of the specialty lighting market. Moreover, the rapidly increasing demand from the operas sets, televisions series production entities and the film industry are creating a huge demand for specialty lighting as well as lifting the growth of the specialty lighting market.
However, the high cost of installation and lack of awareness regarding payback periods are acting as the major limitations for the growth of specialty lighting in the above mentioned forecasted period, whereas the various false impression about UV purification systems have the potential to challenge the specialty lighting market growth in the forecast period of 2021 to 2028.
Likewise, the growing demand for ultrapure water from end use industries along with high growth prospects in new applications and rapid technological advancements, such as IoT and smart lighting solutions will further cater ample new opportunities that will lead to the growth of the specialty lighting market in the above mentioned forecasted period.
This specialty lighting market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on specialty lighting market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Specialty Lighting Market Scope and Market Size
Specialty lighting market is segmented on the basis of light source and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of light source, the specialty lighting market is segmented into light-emitting diode (led), halogen lamps, xenon bulbs and incandescent lamps.
- The application segment of the specialty lighting market is segmented into entertainment, medical, UV lamps and others. Entertainment has further been segmented into stage lighting, studio lighting and others. Medical has further been segmented into surgical lighting and examination lighting. UV lamps have further been segmented into air purification, water purification and others. Others have further been segmented into airport lighting and insect traps lighting.
Specialty Lighting Market Country Level Analysis
Specialty lighting market is analyzed and market size, volume information is provided by country, light source and application as referenced above.
The countries covered in the specialty lighting market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the specialty lighting market due to the strong presence of major lighting companies presenting services for various areas such as entertainment, aquarium, horticulture, water treatment, medical, and seaports as well as the healthy healthcare system in the U.S. and Canada leading to the increased demand for surgical and examination lighting in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the increasing usage of specialty lightings across several industries in this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Specialty Lighting Market Share Analysis
Specialty lighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to specialty lighting market.
The major players covered in the specialty lighting market report are Specialty Lighting Industries, Inc., Signify Holding, OSRAM GmbH, Color Imagination LED Lighting, Ltd., Cree, Inc., Ushio America, Inc., Advanced Specialty Lighting, Getinge AB, Herbert Waldmann GmbH & Co. KG, Brandon Medical, CHAUVET, SS Lighting, National Specialty Lighting Ltd., HARMAN, STERIS, S.I.M.E.O.N. Medical GmbH & Co. KG, Atlantic Ultraviolet Corporation, Lighting Specialties, Inc., Altman Lighting, Advanced UV, Inc., and American Ultraviolet among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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