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Hazardous Location LED Lighting Market Size,Growth 2021 Global Business Industry Revenue, Demand and Applications Market Research Report to 2023
Posted on May 5 2021 9:01 AM
"Hazardous Location LED Lighting Market Research Report study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market with Forecast Period 2021-2023.
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Global Hazardous Location LED Lighting Market Research Report study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds impact on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.Hazardous Location LED Lighting Market Research Report is highly research-intensive, powered by high R & D investment, and it possesses a strong product analysis to maintain growth and ensure long-term revenue generation.
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Hazardous Location LED Lighting Market report offers a comprehensive view regarding the competitive landscape of the Hazardous Location LED Lighting market and includes a deep description of performance by some of the key global players completing in the market. It offers a list of latest updates of several business strategies including mergers, acquisitions, partnerships, product launch, expansion of production units, and collaborations adopted by these major global players. The report provides a clear picture regarding R & D investment from key players and adoption of innovative technologies to widen their consumer base and expand the existing competitive position. Moreover, the report offers a detailed information about the position, scope of growth, and opportunities of new entrants or players in the market.
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The global hazardous location LED lighting market was valued at USD 309.81 million in 2017, and is expected to reach USD 585.19 million by 2023, registering a CAGR of 11.17%, over the forecast period of 2018-2023. The scope of the report is limited to solutions offered by various players, including providers of cart light, flash light, and flood light LEDs.
Hazardous environments are high-risk places where potentially explosive materials or harmful substances that are susceptible to reaction with external environment, are manufactured or processed. The importance of installing safe and efficient lighting solutions in these environments cannot be ignored, because they are usually located in very remote, inaccessible locations. With 318 deaths in the manufacturing industry and 89 deaths in the mining and quarrying industry in the United States alone in 2016, according to the US Department of Labor, there is a critical need to provide appropriate lighting solutions in these areas. The market for lighting hazardous locations is driven by the emergence of LED lights as a viable alternative to traditional lighting applications, owing to their sturdiness, reliability, and non-toxic nature. LED-based applications offer optimal efficiency, as they do not contain any flammable substances and offer higher cost effectiveness and lighting performance, making them a preferred choice in a wide array of industries, such as mills, pharmaceuticals, fireworks agencies, etc.
Stringent Regulations Demanding the Stoppage of Other Harmful Lightings and Promoting LED Use
Changes in regulatory standards favoring the use of energy-efficient lighting applications in all major end-user industries, has been one of the major drivers for growth in the overall LED industry, and particularly in the industrial LED market, where hazardous location lighting accounts for a considerable portion of the market share. Governments and public organizations across the world are bracing down on the use of incandescent lamps, which have been deemed redundant, due to high energy consumption and low performance. India, the second most populated country in the world, has a strong economic growth prospect and a significant market size. In October 2014, the Indian government issued carbon emission reduction policies, which advocated people to use LED bulbs instead of approximately 750 million incandescent bulbs available in the market.
The United States has been at the forefront of LED adoption, ably supported by the introduction of reforms, such as Energy Star Program, which mandates lighting applications to adhere to industry standards and test procedures. Safety standards for lighting applications manufactured for use in hazardous standards, such as IEC, NEC, and other regional regulations, have also been major contributors to the increased demand for LED solutions, although lighting solution providers have been impacted by constant changes in regulations. These regulatory standards have been successful in creating greater awareness for LED solutions and have also provided a guide for new consumers, by compelling LED-based solution providers to manufacture optimal quality products.
Oil, Gas, and Petroleum accounted for the Maximum Share
The processes of oil, gas, and petrochemical refineries can create explosive and flammable conditions. Refineries, being spread across big open areas, require a vast lighting network, which results in excessive cost of energy consumption and regular maintenance. Refineries across the world are using traditional lighting sources that generally deal with maintenance issues, as the light sources generally react with the gases around and they form a different compound, which degrades the physical quality of the lighting sources, forcing the companies to change these lights at a regular interval. For example, incandescent light and high-pressure sodium gets easily compounded, due to surrounding reactive gases, thus creating maintenance issues for the company. Thus, petrochemical refineries are increasingly adopting vapor-proof LED lighting solutions, which are isolated from any sort of reaction. Europe and Middle East & Africa (EMEA) is expected to boost growth in the market, driven using hazardous location LED lights in the oil, gas, and petrochemical industries, at a faster growth rate compared to the Americas.
Europe Accounted for the Largest Share in the Market
Due to the presence of some of the major oil & gas companies, in addition to a robust power sector, Europe has an immense potential for hazardous location LED lights.
Major Players: GE LIGHTING, INTERTEK, COOPER INDUSTRIES, EMERSON INDUSTRIAL AUTOMATION, THOMAS & BETTS CORPORATION, DIALIGHT PLC, NEMALUX LED LIGHTING, FEDERAL SIGNAL CORPORATION, RAB LIGHTING, AND LDPI INC., amongst others.
Key Developments in the Market
August 2017 - Larson launched two new products that added to their product portfolio and enhanced the value of the firm. The company launched 300W explosion-proof LED with quadpod mount, capable of illuminating areas up to 14,500 square feet, which is suitable for mining, marine, and other harsh conditions. It also launched a portable, magnetic mounted attachment LED light that provides protection against high-pressure jets and temporary submersion, suitable for places where flammable gases and vapors are present.
August 2017 - Kenall launched 6-inch modular downlights, which were designed to perform efficiently for years and are tightly sealed, suitable for pharmaceutical processing and military installations.
January 2017 - Intertek was accredited by the US Occupational Safety and Health Administration (OSHA), to certify electrical products intended for use in hazardous locations under the zone classification system, which is used widely across the globe. This approval expanded on the company’s existing status as an OSHA Nationally Recognized Testing Laboratory (NRTL) and builds upon its ability to certify products under the class/division/group system previously used in the United States.
Reasons to Purchase this Report
Understanding the impact of opportunities offered by the growth of industries, such as mining and construction, in all regions.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
Growth of various LED lights, such as cart lights, flood lights, flash lights, offshore skid lights, and ladder mount lights.
Regional analysis of the market.
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Hazardous Location LED Lighting Market for 2021-2023. To calculate the market size, the report considers new installations or sales and subscription payments of Hazardous Location LED Lighting.
Regional Market Analysis:
The Hazardous Location LED Lighting Market report includes Global & Regional market status and outlook 2021-2023. Further, the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Global Hazardous Location LED Lighting Market 2021-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Market Trend
- Growing research activities coupled with new product launches.
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Market Driver
- High Opportunity in the Industry
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Market Challenge
- Complications associated with Hazardous Location LED Lighting procedures.
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Key Attentions of Hazardous Location LED Lighting Market Report:
- The report offers a comprehensive and broad perspective on the global Hazardous Location LED Lighting market.
- The market statistics represented in different Hazardous Location LED Lighting segments offers complete industry picture.
- Market growth drivers, challenges affecting the development of Hazardous Location LED Lighting are analyzed in detail.
- The report will help in the analysis of major competitive market scenario, market dynamics of Hazardous Location LED Lighting.
- Major stakeholders, top companies Hazardous Location LED Lighting, investment feasibility and new market entrants study is offered.
- Development scope of Hazardous Location LED Lighting in each market segment is covered in this report. The macro and micro-economic factors affecting the Hazardous Location LED Lighting market
- Advancement is elaborated in this report. The upstream and downstream components of Hazardous Location LED Lighting and a comprehensive value chain are explained.
Some Major Points from Toc :-
1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness Porter's Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.1 Australia
6.1.2 Bolivia
6.1.3 Brazil
6.1.4 Democratic Republic of Congo
6.1.5 Indonesia
6.1.6 Malaysia
6.1.7 Myanmar
6.1.8 Peru
6.1.9 Russia
6.1.10 Thailand
6.1.11 Vietnam
6.1.12 Others
6.2 Consumption Analysis (Market Size, Growth and Forecast)
6.2.1 Asia-Pacific
6.2.1.1 India
6.2.1.2 China
6.2.1.3 Japan
6.2.1.4 South Korea
6.2.1.5 Rest of Asia-Pacific
6.2.2 North America
6.2.2.1 United States
6.2.2.2 Canada
6.2.2.3 Mexico
6.2.2.4 Rest of North America
6.2.3 Europe
6.2.3.1 Germany
6.2.3.2 United Kingdom
6.2.3.3 France
6.2.3.4 Italy
6.2.3.5 Austria
6.2.3.6 Rest of Europe
6.2.4 South America
6.2.4.1 Brazil
6.2.4.2 Argentina
6.2.4.3 Rest of South America
6.2.5 Middle East & Africa
6.2.5.1 UAE
6.2.5.2 South Africa
6.2.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
10. Disclaimer
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