Global lighting contractor market is valued at approximately USD 690 million in 2017 is anticipated to grow with a growth rate of more than 9 % over the forecast period 2018-2025.
Rising demand for smart control system in lighting, increasing implementation of energy-efficient light and growing adoption of IoT in the light industry are key factor driving the market growth. Additionally, development of smart city along with government initiative and incentives towards energy saving schemes is also contributing towards global lighting contactors market growth opportunity over the forecast period.
As government authorities of different countries are promoting smart lighting projects that in turn is fueling the market growth of lightning contactors. For instance, in 2017, the Chicago department of transport announced about $160 million smart street lighting projects with the utilization of LED bulbs, IoT connected devices. Moreover, Los Angles is also one of the early adopters of smart lighting technologies having currently about 80% of street lights with the use of LED along with 4G LTE wireless technology and also reported saving of 63 % on energy cost. Growing awareness about the energy conservation and energy efficiency government of different nations are introducing programs and incentives towards adoption of smart street and lightning systems. More than 1.5 million LED street lights were deployed in the United States under the U.S. Department of Energy (DOE) under better building programs in year 2016. Similarly, in March 2018, the Lagos state government has announced its initiative towards installation of 10,000 street lights in Eke, in partnership with Low energy designs limited based in UK to construct $7 million LED lighting and hybrid energy plant. Similarly, Tata communication partners with MOTWANE (India) in March 2018 to deploy more than 300 smart streetlights based on LoRaWAN technology for Jamshedpur (India) Utilities and Services Co. Ltd (JUSCO). Additionally, as per the Energy efficiency services limited organization of India, Indian government announced the Street Lighting National Program (SLNP) in 2015 to replace 14 million conventional Street lights by smart LED variants by end of 2019. Hence, favorable government policies and initiatives for lighting contactors is expected to positively influence the market growth.
Global lighting contactors market report covers segmentation analysis of type, end user and applications. Type segment of lighting contactors further classifies into electrically and mechanically held. Electrically held is the leading type segment owing toits associated benefits such as these contactors operate quietly and also require a lesser amount of amount of controller power etc. These electrically held contactors need a continuous flow of power for constant operation. Thus, in case of power loss, these contactors insulate the light from the circuit. Report further covers segments of end users of lighting contactors which includes commercial, industrial, smart residential complexes and municipal. commercial is the dominating end user segment due to the increased adoption of lighting contactors. Report further covers segments of applications of lighting contactors which includes indoor and outdoor. Indoor segment is the leading and fastest growing application segment due to increased awareness towards reduction in energy consumption along with need to comply with the environmental regulation in the industrial, smart residential and commercial offices.
The regional analysis of Lighting Contractor Market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. Geographically, Europe is the leading market region for global lighting contactors market in terms of market revenue share. This is due to the significant presence of leading lighting contactors manufacturers in Europe region such as ABB (Switzerland), Siemens (Germany), Schneider Electric (France) etc. Europe is expected to dominate the global lighting contactor market and projected to take the largest market share over the forecast period. In addition, Asia Pacific is expected to be the fastest growing market for lighting contactors over the forecast period owing to the growing adoption of efficient lighting systems by industrial, commercial, and municipal end-user segments of the market. Further, key economies in the Asia Pacific region such as India, China, and Japan are the viable hubs for manufacturing and service engineering. These emerging regions are widely adopting lighting control systems in order to lower the energy cost. Additionally, in this emerging region, municipal and government authorities are widely adopting smart lighting management systems in street lights to lessen the consumption of energy, thereby expected to drive the market growth of lighting contactor in the Asia Pacific region.
Active market players include-
ABB (SWITZERLAND),
SIEMENS (GERMANY)
EATON (REPUBLIC OF IRELAND)
ROCKWELL AUTOMATION (US),
SCHNEIDER ELECTRIC (FRANCE),
OTHERS
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Electrically Held
Mechanically Held
By Application:
Indoor
Residential
Commercial
Industrial
Others
Outdoor
Highways & Roadways Lighting
Lighting for Public Places
Others
By End user:
Commercial
Municipal (Public)
Industrial
Smart Residential Complexes
Regional Outlook:
North America
Europe
Asia Pacific
Latin America
Rest of the World
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
ROE
Asia Pacific
China
India
Japan
ROAPE
LAMEA
Brazil
Mexico
ROW
Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Lighting Contractor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The global HVAC Contactor Market presents comprehensive information that makes it a valuable source of insightful data for business strategists during 2021-2026.
Given the technological innovations in the market, the industry is likely to emerge as a complementary platform for investors in the emerging market.A thorough competitive analysis covering insightful data on industry leaders is intended to help potential market entrants and competing existing players to reach their decisions in the right direction.
The market structure analysis discusses in detail the profile of the HVAC Contactor company, revenue share in the market, comprehensive product portfolio, networking and distribution strategy, regional market footprint, and more.Key Players Mentioned:ABB (Switzerland), Chint Electric (China), Eaton (Ireland), GE Industrial (Boston, Massachusetts), Honeywell(US), Mitsubishi Electric (Japan), Rockwell Automation(US), Schneider Electric (France), Siemens (Germany), Shihlin Electric (Taiwan), TE Connectivity (Switzerland)For Right Perspective & Competitive Insights, Request a Sample @ https://imrmarketreports.com/request/153Market segmentationThe HVAC Contactor market is segmented by type and application.
Growth between segments over the period 2021-2026 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value.
This analysis can help you expand your business by targeting eligible niches.Product Segment Analysis:1-Pole Type, 2-Pole Type, 3-Pole Type, 4-Pole TypeApplication Segment Analysis:Industrial, Medical and Healthcare, IT and Telecom, Aerospace and Defense, Oil & Gas, Chemical, OthersThe market research report also discusses the numerous development strategies and plans that the HVAC Contactor industry follows to expand to a global level.
Details related to the dynamic change in the segment are provided in the research report.
