Market Research Future published a research report on “Global Lighting Contactor Market Research Report:Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
The global market for Lighting Contactor is set to witness a healthy growth during 2018 and 2023 reports Market Research Future (MRFR). Rising energy consumption and advanced in lighting systems are primary drivers of the market. Moreover, integration of Internet of Things (IoT) in modern lighting control system is creating lucrative market opportunities.
The growing need for energy-efficient solutions is having a massive influence in modern lighting systems. Incentives are being provided to users who are adopting energy-efficient lighting solutions. Focus is shifting towards development of lighting equipment and technologies that support low energy consumption. Lighting contractors have undergone tremendous transformations in recent years. At present, lighting contractors such as 4-pole, and feeder disconnect type 2, & type 3 are widely used.
Development in third countries and increased government efforts of electrification in regions such as Asia, Africa, the Middle East and Latin America is supporting the Lighting Contactor Market growth. Not only are they focusing on developing electricity supply networks but also emphasizing on installing energy-efficient systems. Governments are introducing policies that drive the adoption of energy-efficient devices. As per the data released by International Energy Efficiency (IEA), in 2017, the worldwide energy demand increase by 1.9% on the back on favourable economic growth.
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The major market players operating in the global market as identified by MRFR are Hager (Germany), Siemens AG (Germany), Rockwell Automation (US), Schneider Electric SE (France), ABB Ltd (Switzerland), Legrand (France), Acuity (US), Eaton (Ireland), Sprecher Schuh (US), and Federal Electric (US).
MRFR’s report includes a detailed segmental analysis of the Lighting Contactor market based on installation, type, end-user and region.
On the basis of installation, the Lighting Contactor market has been segmented into outdoor and indoor. The later will continue to outperform the former throughout the assessment period. This is mainly owing to growing demand for effective lighting control system in industrial, residential and commercial verticals. In addition, indoor lighting contractors are witnessing widespread popularity among user. Limited application of outdoor lighting somewhat hinders the outdoor segment’s growth. Outdoor installations are usually required in open public vicinities in urban areas. Most outdoor lightings are simple in design and installation with a single controller. Compared to indoor lighting, outdoor lighting contractors are cheaper. This is mainly owing to the high preference for low-cost outdoor lighting solutions.
On the basis of type, the Lighting Contactor market has been segmented into mechanically held and electrically held. Of these, the electrically held segment commands the larger market share. Preference for electrically held lighting contractors is relatively higher owing to their low-energy consumption and noise-free attributes.
On the basis of end-user, the Lighting Contactor market has been segmented into commercial, industrial, including residential and other. Of these, the commercial segment and industrial segment are expected to remain highly attractive during the forecast period.
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The global business regional analysis was conducted in four major regions including Asia Pacific , North America, Europe and the rest of the world.
During the forecast period, it is slated that Europe region will continue to dominate the market, mainly due to the increasing demand for energy-efficient lighting systems in the region. The region is targeting energy savings of 20 per cent by 2020. Growing green city project in the region’s countries is a key driving factor in Europe’s market for lighting contractors. in addition, government initiatives to use smart lighting system for efficient power consumption is another factor supporting growth of the target market in Europe. North America is the second largest market, with lighting contactor system, particularly in the US, accounting for a significant share of the entire lighitng control system. Asia-Pacific region has been estimated to grow at the highest rate during the forecast period. Middle East & Africa and the markets in Latin America are expected to record moderate revenue growth over the forecast period.
Table Of Content
- Publisher Report Introduction
- Market Overview
- Product Details
- Sales Assessment
- Patent Details
- Global Manufacturers Assessment
- Market Competition
- Emerging Therapies
- SWOT Analysis
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