BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the market for industrial and high-bay lighting in six building types, with forecasts for unit sales and revenue, through 2024.
While the industrial and high-bay markets have traditionally represented challenging lighting applications, advances and price declines in light-emitting diode (LED) technologies are driving sales of luminaires and lamps for these markets. Today, many high-bay LED products offer exceptional lighting quality in a price range that allows for paybacks from energy savings. Click to tweet: According to a new report from Navigant Research, global sales of high-bay luminaires and lamps are expected to peak at almost $23.5 billion in 2017.
“High-bay and industrial lighting customers are beginning to see a wider array of LED products that can meet their various needs,” says Alvin Chen, research analyst with Navigant Research. “While this market has been slower to adopt new lighting technologies, enhanced controllability, decreasing prices, and greater service offerings will begin to speed up the shift toward LED lighting.”
A transition to networked lighting controls has also begun to affect the markets for industrial and high-bay lighting, according to the report. Many high-bay lighting products now incorporate embedded sensors and network communications capability, some of which can minimize energy use while enhancing lighting quality.
The report, Industrial and High-Bay Lighting, analyzes the global market for industrial and high-bay lighting in the following building types: warehouse, industrial, gymnasium and indoor sporting facilities, high-bay retail, and transportation. The study provides an analysis of the significant market drivers, trends, and opportunities associated with luminaires, lamps, and networked lighting controls in these applications. Global market forecasts for unit sales and revenue, segmented by lamp type, building type, industrial segment, and region, extend through 2024. The report also examines the major technology issues and trends related to high-bay lighting and profiles the key industry players in this market. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant, Inc. (NYSE: NCI) is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on industries and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services sectors. Across our range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Industrial and High-Bay Lighting, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.