Report Ocean has released a market research report on the Specialty Lighting industry, covering 150+ countries and analyzing over 1,00000 published and forthcoming reports per year. The report, prepared by subject matter experts, researchers, and market research professionals, utilizes various methodologies and analytical approaches, including S.W.O.T. and P.E.S.T.E.L. analysis and regression analysis, to forecast market growth. It also examines the industry’s regulations and policies and potential future advancements.
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Global Specialty Lighting Market is valued approximately at USD 5.09 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6.0% over the forecast period 2019-2026. Specialty lighting is a type of lighting that offers illumination and power distribution solutions for commercial, residential and industrial spaces. This lighting continues to support the several markets such as retail, hospitality, education, furnishings, healthcare and commercial market. Specialty Lighting’s product offering consist of downlighting, task lighting, accent lighting, linear lighting, undercabinet lighting, power distribution, controls and accessories. Rising number of live music events and concerts; strict government regulations for air, water, and surface disinfection; rising adoption of surgical lighting for minor and major surgical procedures and increasing penetration of LEDs are the few factorfactors responsible for high CAGR of the market over the forecast period. For instance: Globally, it is estimated that LED penetration of the global lighting market was around 35% in 2017 and is expected to grow to almost 61% by 2020, as per the in-house research. Also, according to the U.S. Department of Energy, from 2014 to 2016, installations of LED products have increased in all applications, more than quadrupling to 874 million units, increasing penetration to 12.6% of all lighting. Moreover, increasing demand for ultrapure water from end-use industries along with rising urbanization worldwide are the few factor likely to offer lucrative growth opportunity to the market in the upcoming years. However, higher cost of installation and lack of awareness associated with payback periods are few factor factors anticipated to limiting the growth of global Specialty Lighting market during the forecast period.
The regional analysis of global Specialty Lighting Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.
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North America is the leading/significant region across the world in terms of market share owing to the growing participation in music festivals and increasing urbanization have motivated the entertainment lighting market in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate/CAGR over the forecast period 2024-2032. Factors such as increasing demand for UV disinfection equipment along with growing need to control the maintenance cost of lighting systems that would create lucrative growth opportunities for the Specialty Lighting market across Asia-Pacific region.
Major market player included in this report are:
Signify Holding (Formerly Philips Lighting)
OSRAM
CREE
USHIO
Getinge AB
Herbert Waldmann
Brandon Medical
Integra Lifesciences
Steris PLC
Halma
Advanced Specialty Lighting
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Light Source:
LED
Halogen Lamps
Xenon Bulbs
Incandescent Lamps
By Application:
Entertainment
Medical
UV Lamps
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year –
Base year –
Forecast period – 2024 to 2032
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Target Audience of the Global Specialty Lighting Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Frequently Asked Questions: –
What is the market size and growth rate of the industry?
Who are the major players in the market?
What are the key factors driving market growth?
What are the main challenges or barriers faced by market participants?
Are there any regulatory or legal factors affecting the market?
What are the emerging trends or opportunities in the market?
How is the market segmented, and what are the characteristics of each segment?
What are the pricing trends observed in the market?
How does the competitive landscape look in the industry?
What are the consumer preferences or buying behaviors in the market?
Are there any regional or geographic variations in the market?
What are the projected market forecasts for the coming years?
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