Global Energy Efficient Warehouse Lighting System Market – Industry Trends and Forecast to 2029

Market Analysis and Size

The government initiatives intended to reduce carbon emissions by increasing reliance on renewable energy for power generation are anticipated to have a significant positive impact on the market for energy-efficient warehouse lighting systems. As manufacturers try to introduce superior technology, the energy-efficient warehouse lighting systems market is constantly undergoing new advancements. These factors have boosted the market over the forecast period.

Global energy efficient warehouse lighting system market was valued at USD 1660.00 million in 2021 and is expected to reach USD 2471.32 million by 2029, registering a CAGR of 5.10% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes technological advancements, regulatory framework, PESTEL, porter's five forces analysis, industry standards-at a glance, raw material costs/ operational expenditure-overview, supply chain analysis, vendor selection criteria, pricing analysis, production analysis, and climate chain scenario.

Market Definition

Energy-efficient lighting entails switching out conventional lamps, such incandescent ones, for more energy-efficient ones, including fluorescent, CFL, and LED ones. Additionally, it has appropriate lighting controls such timers, PIR and ultrasonic sensor-based controls, etc. It entails using more light from fewer lights by substituting high power usage lights such as incandescent, high discharge lamps, and so on.

Report Scope and Market Segmentation

Energy Efficient Warehouse Lighting System Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High Usage of Energy Efficient Lightning Systems

These energy-saving techniques can be applied to interior lighting in business and residential buildings, as well as exterior lighting. These programmers enhance illumination quality while reducing energy consumption. Incandescent lighting uses three to five times more energy and wastes 90% of it as heat instead of light. Consequently, switching out these bulbs for energy-saving ones creates a lighting system that uses less electricity, further accelerates the overall market growth.

• Lesser Adoption of Conventional Lightning Systems

Older lighting systems are extremely inefficient and prone to power losses, which results in high energy expenditures that account for a sizable portion of overall logistics costs. The industrial and warehousing sector's ongoing efforts to reduce its carbon footprint and boost productivity will improve the outlook for the market. Strict energy-efficiency standards to lessen warehouses' environmental impact are forcing the replacement of the conventional lighting systems with eco-friendly ones.

The factors such as rising urbanization and development of infrastructures such as economic corridors and smart cities boost the market growth rate. Moreover, the increasing modernization has largely accelerated market growth over forecast period.

Opportunities

• Introduction of Technologies and Launch of Affordable Solutions

Furthermore, the manufacturers are working towards introducing better technologies further extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the focusing on launching new and affordable solutions in order to overcome this barrier also generates various opportunities for the market.

Restraints/Challenges

• High Costs

The high overall cost is preventing the implementation of energy efficient warehouse lighting system. Energy-saving lighting costs 20 times more than conventional incandescent lighting. As a result, the global energy efficient warehouse lighting system market is hampered by high cost over the forecast period.

• Insufficiency of Raw Material

The COVID-19 caused supply chain interruptions, further contributing to insufficient raw material availability. The market for energy-efficient warehouse lighting systems will face significant challenges as a result of this factor.

This energy efficient warehouse lighting system 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 the energy efficient warehouse lighting system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Energy Efficient Warehouse Lighting System Market

The recent outbreak of coronavirus had a negative impact on the energy efficient warehouse lighting system market due to the stringent measures introduced by respective governments to curb the COVID-19 outbreak. As a result, residential projects that are now underway in nations like India and China have been delayed. Construction projects that were postponed caused a slowdown in the growth rate of the LED market revenue. Growth in the LED industry has been constrained by OEMs' sluggish manufacturing processes and a decline in sales of other electronics products and lighting systems. Component and material shortages have had a significant impact on the worldwide distribution chain. The global economy was also affected by reductions in capital budgets and postponements of planned projects in numerous industries.

However, the medical sector saw a rise in demand for UV LED during the epidemic. Additionally, industry participants made investments in the research and development of smart lighting systems as a result of fresh government initiatives around the globe. As a result, it was anticipated that the LED market will take off by the end of 2021. Additionally, a number of businesses that compete in the market for energy-efficient lighting, such Advanced Lighting Technologies, are outlining their planned strategies to support society during the COVID-19 epidemic. For instance, Advanced Lighting Technologies declared in August 2020 that the company is fully operational for supplying its lighting products to clients, projects, and infrastructure development and that it is adhering to government guidelines for operating during the pandemic.

Global Energy Efficient Warehouse Lighting System Market Scope

The energy efficient warehouse lighting system market is segmented on the basis of source and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• High-intensity Discharge Lamps (HID)
• Linear Fluorescent Lamps (LFL)
• Light Emitting Diodes (LED)
• Others

 Application

• Home
• Commercial
• Industrial

Energy Efficient Warehouse Lighting System Market Regional Analysis/Insights

The energy efficient warehouse lighting system market is analyzed and market size insights and trends are provided by country, source and application as referenced above.

The countries covered in the energy efficient warehouse lighting system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Norway, Finland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Nigeria, Algeria, Angola, Ghana, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the energy efficient warehouse lighting system market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the expansion of automotive and commercial sectors and stringent government regulations within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rapid urbanization coupled with the favorable government policies within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Energy Efficient Warehouse Lighting System Market Share Analysis

The energy efficient warehouse lighting system 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, global presence, production sites and facilities, production capacities, 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 energy efficient warehouse lighting system market.

Some of the major players operating in the energy efficient warehouse lighting system market are

• Signify Holding. (Netherlands)
• Cree Lighting. (U.S.)
• GENERAL ELECTRIC (U.S.)
• Schneider Electric (France)
• ACUITY BRANDS LIGHTING, INC. (U.S.)
• Zumtobel Group AG (Austria)
• Eaton (Ireland)
• Dialight. (U.K.)
• Advanced Lighting Technologies, LLC (U.S.)
• AIXTRON (Germany)
• OSRAM SYLVANIA Inc (U.S.)
• TOYODA GOSEI Co., Ltd. (Japan)
• Digital Lumens, Inc. (U.S.)
• Emerson Electric Co. (U.S.)
• Hubbell (U.S.)
• Ushio America, Inc. (U.S.)
• Litetronics International, Inc. (U.S.)
• LG INNOTEK. (South Korea)
• Leviton Manufacturing Co., Inc. (U.S.)

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