Industrial And Commercial LED Global Market Trends, Growth And Outlook Report 2023 To 2032

The Industrial And Commercial LED Lighting Global Market Report 2023 by The Business Research Company, provides industrial and commercial led lighting market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.

 

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According to The Business Research Company’s Industrial And Commercial LED Lighting Global Market Report 2023, the market size is expected to grow from$43.62 billion in 2022 to $53.54 billion in 2023 at a compound annual growth rate (CAGR) of 22.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the industrial and commercial LED lighting is expected to grow to $119.86 billion in 2027 at a CAGR of 22.3%.

The increasing construction of new structures and remodeling of existing buildings are significantly driving the growth of the industrial and commercial LED lighting market. New constructions are increasing due to various reasons such as economic development, housing needs, industrial developments, and others. Remodeling of existing buildings is increasing due to replacement and safety needs as well as to improve upon existing ones. The construction of new structures and remodeling of existing buildings require new materials and products to be used in the structures including LED lighting. This will result in a significant demand for LED lighting in industrial and commercial structures.

 

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The industrial and commercial led lighting market is segmented:

1) By  Product Type: LED Lamps, LED Fixtures
2) By Installation: New Installation, Retrofit
3) By Distribution: Direct Sales, Online Stores, Specialty Stores, Other Distribution Channels
4) By Application: Retail, Manufacturing, Hospitality, Warehouses And Storage, Office Buildings, Other Applications

Technological advancement is a key trend gaining popularity in the industrial and commercial LED lighting market. The key players in the industrial and commercial LED lighting market 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 through an external device via the 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. For instance, in August 2021, Signify, a Dutch multinational lighting corporation introduced a new range of Wiz smart light products that are highly superior. The new Wiz smart light range includes a new smart LED downlighter, T-Beamer, T-Bulb, and Batten. The new smart lights are Wi-Fi-enabled and thus do not need a specialized hub. They can also be controlled through the Wiz mobile app or voice assistants like Amazon Alexa and Google Assistant. These can be used in the home, commercial and industrial applications.

The industrial and commercial led lighting market report table of contents includes:
1. Executive Summary
2. Industrial And Commercial LED Lighting Market Characteristics
3. Industrial And Commercial LED Lighting Market Trends And Strategies
4. Industrial And Commercial LED Lighting Market – Macro Economic Scenario
5. COVID-19 Impact On Industrial And Commercial LED Lighting Market
………….
26. Africa Industrial And Commercial LED Lighting Market
27. Industrial And Commercial LED Lighting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial And Commercial LED Lighting Market
29. Industrial And Commercial LED Lighting Market Future Outlook and Potential Analysis
30. Appendix

 

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