Jan 25, 2016: 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.
Source: Navigant Research