The Industrial Lighting Market size is estimated at USD 7.28 billion in 2024, and is expected to reach USD 10.5 billion by 2029, growing at a CAGR of 7.59% during the forecast period (2024-2029).
The availability of a wide range of lighting products at competitive prices and the increasing demand for energy-efficient lighting systems across various industrial sectors drive the industrial lighting market's growth.
The industrial lighting market is highly fragmented. Overall, the competitive rivalry among existing competitors is high. Further, the new innovation strategies of large and small enterprise companies are expected to drive market growth.
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