Professional Luminaires

Professional Luminaires

Global Professional Luminaires Market to Reach US$69.2 Billion by 2030

The global market for Professional Luminaires estimated at US$58.4 Billion in the year 2023, is expected to reach US$69.2 Billion by 2030, growing at a CAGR of 2.4% over the analysis period 2023-2030. LED Luminaires, one of the segments analyzed in the report, is expected to record a 2.6% CAGR and reach US$51.0 Billion by the end of the analysis period. Growth in the Conventional Luminaires segment is estimated at 2.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$15.9 Billion While China is Forecast to Grow at 4.9% CAGR

The Professional Luminaires market in the U.S. is estimated at US$15.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.7 Billion by the year 2030 trailing a CAGR of 4.9% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.6% and 1.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.2% CAGR.

Global Professional Luminaires Market - Key Trends and Drivers Summarized

Professional luminaires, essential lighting fixtures used in commercial, industrial, and public infrastructure, are designed to provide optimal lighting performance, energy efficiency, and aesthetic appeal. These luminaires encompass a broad range of lighting solutions, including LED fixtures, fluorescent lights, and high-intensity discharge lamps, tailored to various applications such as office buildings, retail spaces, hospitality venues, healthcare facilities, and outdoor environments. The adoption of professional luminaires has been driven by the need for effective and efficient lighting that enhances productivity, safety, and ambiance. Modern professional luminaires often incorporate advanced technologies such as smart controls, sensors, and connectivity features that allow for automated and adaptive lighting management, contributing to energy savings and improved user experience.

Technological advancements have significantly transformed the professional luminaires market, with the rise of LED technology being a major driver. LEDs offer superior energy efficiency, longer lifespan, and lower maintenance costs compared to traditional lighting solutions, making them the preferred choice for new installations and retrofits. Additionally, innovations in smart lighting systems have enabled the integration of luminaires with building management systems, allowing for centralized control, remote monitoring, and data-driven optimization of lighting performance. The development of tunable white and color-changing LED luminaires has also expanded the application possibilities, catering to dynamic lighting needs in commercial and architectural settings. Furthermore, advancements in materials and design have enhanced the durability, aesthetic appeal, and environmental sustainability of professional luminaires.

The growth in the professional luminaires market is driven by several factors. The increasing focus on energy efficiency and sustainability has propelled the adoption of LED and smart lighting solutions, supported by government regulations and incentives promoting energy conservation. The expanding construction industry, particularly in emerging economies, has created significant demand for modern lighting solutions in new commercial and public infrastructure projects. Technological advancements have further driven market growth, with innovations in LED technology, smart controls, and IoT-enabled lighting systems enhancing the performance and appeal of professional luminaires. Additionally, the rising awareness of the benefits of quality lighting in improving productivity, well-being, and safety has influenced end-user preferences, leading to higher investments in advanced lighting solutions. These factors, coupled with the continuous development of innovative products and the growing emphasis on sustainable building practices, ensure the robust expansion and evolution of the professional luminaires market.

Select Competitors (Total 51 Featured) -

• Arri
• Bajaj Electricals Ltd.
• Barcelona LED iluminacion S.L.
• Crompton Greaves Consumer Electricals Ltd.
• Eveready Industries India
• Havells India Ltd.
• Internova Professional Lighting B.V.
• LEDVANCE GmbH
• Lightinova
• LIGMAN Lighting Co., Ltd.
• Linea Light Group
• M M Sankhla Electricals
• Signify Holding
• Surya Roshni Ltd.
• UL LLC (Underwriters Laboratories)

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