Worldwide Hazardous Location LED Lighting Industry to 2025 - North America to Account for Largest Market Share - ResearchAndMarkets.com

DUBLIN--()--The "Hazardous Location LED Lighting Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The Hazardous Location LED Lighting Market was valued at USD 387.1 million in 2019 and is expected to reach USD 636.6 million by 2025, registering a CAGR of 8.86%, during the period of 2020 - 2025.

Companies Mentioned

  • DCD Technologies ME FZCO
  • Nemalux Inc.
  • Luceco Middle East FZCO
  • WAROM Technology MENA FZCO
  • Shenzhen CESP Co., Ltd
  • PROLUX International FZ LLC
  • Munira Lighting (AL Hatimi Trading FZE)
  • Emerson FZE (Emerson electric co.)
  • ABB Installation Products Inc.
  • R.Stahl Limited
  • Digital Lumens Inc. (OSRAM)
  • Eaton Corporation
  • Dialight PLC
  • Technology Co., Ltd.
  • Larson Electronics
  • GE Current
  • Hubbell Limited
  • Hilclare Lighting
  • Raytec Ltd.
  • SA Equip
  • Glamox UK
  • IKIO LED Lighting
  • Azz Inc
  • Worksite Lighting LLC

Key Market Trends

Rising Demand for Cost-effective and Energy-efficient LED Lighting Solutions will Drive the Market Growth

  • Governments and enterprises across the world are seeking numerous solutions for the reduction of energy consumption and running costs for lighting solutions. LED lighting solutions are technically advanced and efficient in terms of energy consumption, and luminous intensity, when compared to their counterparts, such as incandescent lamps.
  • Greater life span (~100,000 hours), high luminous efficacy, decreasing average selling price (ASP), and reduced energy use are compelling industrial consumers to switch to LED technology. Given the high product lifetime, the consumers' spending on the replacement of these products is drastically reduced.
  • Developed economies such as the United States are expected to observe 15%-32% of its energy usage by 2025 by deploying LED lighting systems. In the process, LED lighting could witness increased adoption amongst cloud-based connected controls, advanced electric motors and drives, high-efficiency boilers, modernization, and replacement of antiquated process equipment and others to foster energy cost reductions in the country.
  • Energy-efficiency programs, namely the ENERGY STAR certification, Lighting Design Lab certification, and Duquesne Lighting Company (DLC) Industrial Energy Efficiency Program, are actively encouraging and promoting the use of lighting solutions that are energy-efficient, thereby helping organizations and households across the globe to reduce their carbon footprints.

North America to Account for Largest Share

  • The industrial and manufacturing industry accounts for 32% of the United States energy usage, while also representing largest energy cost reduction opportunities in the US. Therefore the LED lighting systems provide a potential to cost-effectively eliminate 15% - 32% of its energy usage by 2025.
  • Further to ensure that lighting fixtures are appropriately used within such settings, both U.S based National Electric Code (NEC) and the Canadian-based CEC, mandated standards to classify risk levels for hazardous location lighting.
  • Vendors in the region are also observed to have increasingly participated in multiple launches to upgrade the existing LED lighting offerings for hazardous locations. For instance, in May 2019, Emerson introduced a solution for the oil and gas industry for illumination of land-based drilling rigs. The Appleton Rigmaster LED linear luminaire maintains a bright and energy-efficient lighting in hazardous areas on drilling rigs.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Assumptions & Market Definition

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Consumers

4.2.3 Threat of New Entrants

4.2.4 Threat of Substitute Products

4.2.5 Intensity of Competitive Rivalry

4.3 Industry Value Chain Analysis

4.4 Industry Policies

5 TECHNOLOGY SNAPSHOT

6 MARKET DYNAMICS

6.1 Market Drivers

6.1.1 Regulations Promoting Proper Lighting for Worker Safety in Hazardous Locations

6.1.2 Rising Demand for Cost-effective and Energy-efficient LED Lighting Solutions

6.2 Market Challenges

6.2.1 High Cost of Replacement of Conventional Lamp to LED Lighting Solutions

6.3 Assessment of Impact of Covid-19 on the Industry

7 MARKET SEGMENTATION

7.1 Class

7.1.1 Class I

7.1.2 Class II

7.1.3 Class III

7.2 Device Type

7.2.1 Zone 0

7.2.2 Zone 20

7.2.3 Zone 1

7.2.4 Zone 21

7.2.5 Zone 2

7.2.6 Zone 22

7.3 End-User Industry

7.3.1 Oil & Gas

7.3.2 Petrochemical

7.3.3 Industrial

7.3.4 Power Generation

7.3.5 Pharmaceutical

7.3.6 Processing

7.3.7 Other End-user Industries

7.4 Geography

7.4.1 North America

7.4.2 Europe

7.4.3 Asia-Pacific

7.4.4 Latin America

7.4.5 Middle-East and Africa

8 COMPETITIVE LANDSCAPE

8.1 Company Profiles

9 INVESTMENT ANALYSIS

10 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/2mz7c6

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900