Report Title – Global Hazardous Location LED Lighting Market – Segmented by Type,by Class,Zones (Zone 0, Zone 20, Zone 1, Zone 21, Zone 2, Zone 22),End User Vertical (Oil and Gas, Power Generation,Petrochemical) Region – Growth, Trends and Forecasts (2019 – 2023)
“Hazardous Location LED Lighting Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Hazardous Location LED Lighting Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top Listed Players in Hazardous Location LED Lighting Market Research Report 2019-2023:
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Hazardous Location LED Lighting market reports provide a comprehensive overview of the worldwide market size and share. Hazardous Location LED Lighting market data reports also provide a 5-year historic, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to success of the organization.
Overview of Hazardous Location LED Lighting Market Report:
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 2019-2023. 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.
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Valuable Points from Hazardous Location LED Lighting Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Hazardous Location LED Lighting Market.
- Significant changes in Market dynamics.
- Hazardous Location LED Lighting Market segmentation according to Top Regions.
- Current, Historical, and projected the size of the Hazardous Location LED Lighting Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Hazardous Location LED Lighting Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Hazardous Location LED Lighting Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the market.
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Highlights of the following key factors:
- Business description-A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis-A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services-A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Hazardous Location LED Lighting Market Research Report 2019-2023:
- North America (the USA, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America, Middle East, and Africa
Conclusively, this report will provide you a clear view of each facet of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
Mr. Ajay More
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