Specialty Lighting - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Specialty Lighting market accounted for $5.00 billion in 2018 and is expected to reach $9.92 billion by 2027 growing at a CAGR of 7.9% during the forecast period. Some of the key factors such as strict government regulations for air, water, and surface disinfection and decreasing cost of LEDs are the major factors driving the market growth. However, higher cost of installation and limited awareness related to payback periods may hinder the market growth.
Speciality lighting is utilized for an edge beyond standard lighting. It includes a range of items for downlighting, task lighting, straight lighting, accent lighting, power distribution, and under cabinet lighting. These products are made with specific design and functional considerations. They are manufactured with specifications, for example, Tubular lights for aquarium lighting, heat lamps, and night lights are few areas where these bulbs are utilized.
By application, surgical lights segment is going to have a lucrative growth during the forecast period as they are utilized to help the surgeons, healthcare specialists and other medicinal services during major and even minor surgeries. By geography, North America is going to have a lucrative growth during the forecast period. Growing participation in music celebrations and expanding urbanization and increase in the number of surgical procedures are driving the market growth in the region.
Some of the key players in this market include OSRAM, Signify Holding (Formerly Philips Lighting), Getinge AB, CREE, Steris PLC, Advanced Specialty Lighting, Advanced UV, Herbert Waldmann, USHIO, Integra Life sciences, Xylem, Halma, Atlantic Ultraviolet, American Ultraviolet, and Brandon Medical.
• Direct Sales
Light Sources Covered:
• Light-Emitting Diode (LED)
• Other Light Sources
• Medical Lighting
• Ultraviolet [UV] Lamps
• Entertainment Lighting
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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