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Specialty Lighting Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

Category : Semiconductor and Electronics | Published at : September-2022 | Delivery Format : PDF | Status: Published | Pages : 250

The Global Specialty Lighting Market Size accounted for USD 6,275 Million in 2021 and is estimated to achieve a market size of USD 10,352 Million by 2030 growing at a CAGR of 5.9% from 2022 to 2030. The growing adoption of lighting systems for special purposes, as well as the need for enhanced illumination in entertainment, medical, and other industries, are driving the growth of the specialty lighting market. Furthermore, the use of UV lamps for surface, air, and water disinfection is expected to be a key growth driver for the specialty lighting market in the coming years.

Global specialty lighting market revenue is expected to increase by USD 10,352 million by 2030, with a 5.9% CAGR from 2022 to 2030

Specialty Lighting Market Report Key Highlights

  • Global specialty lighting market revenue is expected to increase by USD 10,352 million by 2030, with a 5.9% CAGR from 2022 to 2030
  • North America region led with more than 35% specialty lighting market share in 2021
  • Asia-Pacific regional market is projected to witness a highest CAGR from 2022 to 2030
  • Among type, LED sector engaged more than 65% of the total market share
  • By medical type, surgical segment generated about 54% market share in 2021
  • Increasing surgical lighting adoption for major and minor surgical interventions, drives the specialty lighting market size

A brushed DC electric motor is a rotating DC electric machine that converts DC electric current power into mechanical energy. The components involved in the brushed DC electric motor include rotor, stator, inductor (excitation system), armature, brushes, and commutate. The types of Specialty Lightings according to the stator construction are brushed motors with permanent magnets and with wound stators. Where wound stator Dc motor includes a separately excited DC motor, shunt wound DC motor, series wound DC motor, and compound wound DC motor.

Global Specialty Lighting Market Dynamics

Market Drivers

  • Increasing number of live music concerts and events
  • Increasing surgical lighting adoption for major and minor surgical operations
  • Strict government regulations for water, air, and surface disinfection
  • Growing penetration and decreasing cost of LEDs

Market Restraints

  • The perception of a higher installation cost
  • Payback periods are underappreciated

Market Opportunities

  • Growing demands for ultrapure water from end-use sectors
  • Strong growth prospects in new applications

Specialty Lighting Market Report Coverage

Market Specialty Lighting Market
Specialty Lighting Market Size 2021 USD 6,275 million
Specialty Lighting Market Forecast 2030 USD 10,352 million
Specialty Lighting Market CAGR During 2022 - 2030 5.9%
Specialty Lighting Market Analysis Period 2018 - 2030
Specialty Lighting Market Base Year 2021
Specialty Lighting Market Forecast Data 2022 - 2030
Segments Covered By Types, By Application, By Medical Type, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Advanced Specialty Lighting, Brandon Medical, Cree Lighting, Getinge, Integra Lifesciences, Osram Licht AG, Signify Holding B.V., Steris Corporation, and Ushio, Inc.
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Specialty Lighting Market Insights

Big Calls For Specialty Lighting In "Healthcare"

It is critical to provide exceptional service and care to patients and customers. This includes ensuring that everything in the healthcare environment is as clean and safe as possible. Specialty Lighting provides commercial-grade UV-C light products that serve as a "no touch" method of room decontamination and eliminate 99.9% of bacteria and viruses found in the air and on patient room surfaces. UV-C light can reach areas that are difficult to clean with wipes and chemicals, such as keyboards, monitors, and mobile workstations. Furthermore, the UV-C light panel and UV-C cabinet lights function as both a standard light source and a germ-killing UV-C light. Remote controls and PIR (passive infrared) sensors provide a secure method of controlling the lighting system.

Rising Adoption Of Led Lighting Bolsters The Growth Of Global Specialty Lighting Market

Light-emitting diodes (LEDs) are gradually gaining traction in the global market. While LEDs accounted for nearly half of all light sources in the world in 2019, it is expected that by 2030, LEDs will account for 87 percent of all light sources. LED lights are resistant to breakage and are immune to vibrations, whereas traditional light is contained in glass, which makes it susceptible to breakage. LED lights are soldered together and mounted on a circuit board. As a result, LED lights have a longer lifespan than traditional lights. LED lighting fixtures produce brighter, higher-quality light that improves visibility. The overall quality improves as a result of improved visibility provided by LED lighting. The new generation of LED lighting is more versatile because it has spectrum-tuning capabilities that allow for changes in the nature and quality of light for various events. High-quality LED lights are flicker-free and are used for clean event filming. These lights are used for HD and live filming.

Impact Of COVID-19 On Demand And Supply Chain For The Specialty Lighting Market

Due to the lockdown, construction, renovation, and time of residential, commercial, and industrial infrastructure have ceased, resulting in a sudden drop in demand for specialty lighting. One of the most important platforms for the sale of specialty lighting is e-commerce. The lockdown has caused a halt in supply and logistics, significantly reducing demand. International logistics is operating at less than half of its capacity, necessitating lower exports and imports. From a purely technical standpoint, the decreasing cost of specialty lighting chipsets would help make the system more cost-competitive with other conventional lighting innovations such as compact fluorescent lamps, metal halides, high-pressure sodium lights, and incandescent lights. Expansion of applications in traffic signals, industrial and residential mood lighting, manufacturing and warehouse lighting, healthcare and hospital lighting, and other areas will benefit future demand development.

Specialty Lighting Market Segmentation

The global specialty lighting market segmentation is based on types, application, medical type, and geography.

Specialty Lighting Market By Types

  • LED
  • Others

Among type, LED sector engaged more than 65% of the total market share

According to a specialty lighting industry analysis, the LED lighting segment is expected to dominate the market in the coming years. The use of LED bulbs instead of incandescent and halogen bulbs boosts overall market growth in the specialty lighting market.

Specialty Lighting Market By Application

  • Entertainment
  • Medical
  • Purification
  • Others

According to the specialty lighting market forecast, the entertainment segment is expected to have the largest market share during the forecast period. It will maintain its dominance over the forecast years because this industry is entirely reliant on various types of cinematography and photography lighting, such as fill lighting, backlighting, practical light, hard & soft lighting, bounce lighting, and ambient light, to achieve the desired effects. The film industry, particularly Hollywood and Bollywood, is a significant contributor to segment growth. Furthermore, the film industry hosts many award shows and events that require special lighting, which accelerates growth even further.

Specialty Lighting Market By Medical Type

  • Surgical
  • Examination

By medical type, surgical segment generated about 54% market share in 2021

Based on the medical type, the surgical lighting segment emerged as the largest segment in the past and is expected to continue in this trend throughout the forecast period. One of the key factors influencing the growth of the specialty lighting market is the importance of specialty lighting in the medical industry in providing better visibility during medical procedures.

Specialty Lighting Market Regional Outlook

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Latin America

  • Mexico
  • Brazil
  • Rest of Latin America

Asia-Pacific

  • India
  • Japan
  • China
  • Australia
  • South Korea
  • Rest of Asia-Pacific

The Middle East & Africa (MEA)

  • Gulf Cooperation Council (GCC)
  • South Africa
  • Rest of the Middle East & Africa

North America dominates the market, with Asia-Pacific experiencing the fastest growth.

North America is a major player in the organization of various music, dance, and concert events that require specialty lighting, so the region dominates in terms of market value. The United States is making a significant contribution to the growth of the market in this region through entertainment applications. Furthermore, rising music festival attendance and urbanization have fueled the region's entertainment lighting market. The total number of hospitals in the United States was 5564 in 2017, and it is expected to rise to around 6210 by the end of 2019. It is expected that the number of surgical and examination procedures will increase as a result of this. These factors drive the specialty lighting market in North America.

Because of the increased use of specialty lighting for surgical and medical purposes, Europe has the second largest market share.

Apart from that, South Asia and the Pacific are expected to grow at a rapid pace during the forecast period due to the increased use of specialty lighting in a variety of industries. Furthermore, there is an increase in demand for UV disinfection equipment, which is contributing to market growth in this sector.

Specialty Lighting Market Players

Some of the top specialty lighting market companies offered in the professional report includes Advanced Specialty Lighting, Brandon Medical, Cree Lighting, Getinge, Integra Lifesciences, Osram Licht AG, Signify Holding B.V., Steris Corporation, and Ushio, Inc.

Frequently Asked Questions

The estimated value of global specialty lighting market in 2021 was accounted to be USD 10,352 Million.

The projected CAGR specialty lighting market during the analysis period of 2022 to 2030 is 5.9%.

The prominent players of the global specialty lighting market are Advanced Specialty Lighting, Brandon Medical, Cree Lighting, Getinge, Integra Lifesciences, Osram Licht AG, Signify Holding B.V., Steris Corporation, and Ushio, Inc.

North America held the dominating specialty lighting during the analysis period of 2022 to 2030.

Asia-Pacific region exhibited fastest growing CAGR for specialty lighting during the analysis period of 2022 to 2030.

Growing number of live music concerts and events, and increasing surgical lighting adoption for surgical operations drives the growth of global specialty lighting market.

Based on medical type, surgical segment is expected to hold the maximum share specialty lighting market.


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