Specialty Lighting Market Share, Size, Trends, Industry Analysis Report, By Light Source (Light-Emitting Diode, Halogen Lamps, Xenon Bulbs, Incandescent Lamps, and Metal Halide Lamps); By Application; By Region; Segment Forecast, 2022-2030
- Published Date:Dec-2022
- Pages: 118
- Format: PDF
- Report ID: PM2901
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global specialty lighting market was valued at USD 5,152.95 million in 2021 and is expected to grow at a CAGR of 5.8% during the forecast period.
The rapid rise in the number of events or functions such as concert tours, sports competitions, wedding functions, and many more across the globe and the growing need and demand for various television series production houses, opera sets, and the film industry are key factors influencing the growth of the global market. Moreover, the increasing adoption of lighting for various purposes and the need for enhancing illumination across many industries including medical, entertainment, and sports are promoting the growth of the market.
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Moreover, the rising prevalence of new-generation LED lighting, which is more versatile as it has spectrum-turning characteristics which allow changes in the quality and nature of lights for different events is gaining high traction across the globe. Various new and advanced innovations in the lighting industry by key market companies such as the integration of Wi-Fi, Bluetooth connectivity, and remote control is likely to fuel the adoption of these light and contribute to the market positively in the coming years.
For instance, in August 2021, Signify introduced new “Smart Wi-Fi lights” in India. The newly developed smart lights mainly work on Wi-Fi & do not need any dedicated hub and can be easily controlled through Wiz mobile app or the voice assistants like Amazon Alexa & Google Assistant.
However, various stringent rules and regulations for lighting industries like the Energy Star Program, United Nations Environment Programme, and National Electric Code along with the higher installation cost of these types of lighting solutions are key factors hampering the growth of the market.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the specialty lighting market. The rapid emergence of the deadly coronavirus led to curfew and lockdown all over the world, which resulted in temporary shutdowns of manufacturing units and disruptions in the supply chain and various regulations for organizing an event was also a major reason for the decline in demand for lighting products. However, due to the rise in the construction activities of temporary hospitals, thus the demand for medical illumination was anticipated to gain growth during the pandemic period.
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Industry Dynamics
Growth Drivers
High technological advancements in the lighting industry such as IoT and smart lighting solutions and a shift in consumer preferences towards designer lights are major factors expected to drive the growth of the global market over the course of the projected period. Moreover, a longer lifespan of specialty lights than traditional lights and capabilities to generate better and brighter quality light, which gives enhanced visibility is also propelling the growth of the market.
Furthermore, the continuously growing need for specialty lighting as a result of an increasing number of events and functions including music tours, concerts, and many others especially from countries like India, China, the United States, and Germany are likely to boost the demand for the market over the next coming years. For instance, approximately 800 music festivals take place every year in the United States and this number is expected to rise further in the future.
Report Segmentation
The market is primarily segmented based on the light source, application, and region.
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By Light Source |
By Application |
By Region |
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LED segment accounted for the largest market share in 2021
The LED segment accounted for a significant market share in 2021 and is expected to retain its position over the anticipated period owing to its properties such as longer lifespan, less heating, energy-efficient, and cost-saving features. Moreover, the rising introduction of LED over incandescent and halogen bulbs and increasing prevalence due to its high versatility and convenience for many different fixture designs to produce color and pattern are fueling the growth of the segment market. Integration of many innovative technologies in the LEDs like IoT and remote controlling solutions along with its advantage in creating lightweight fixtures by various market manufacturers has paved the way for higher adoption of these lights over halogen and incandescent lights in the near future.
For instance, in June 2022, Syska Group, a leading player in LED lighting technology, introduced its Syska Glowing LED Recessed Downlight and Surface Downlight. This LED provides a wide choice of high-quality LED lighting solutions in a large application range, which ensures both energy-efficient and effective solutions in any type of setting. The product is manufactured in India to support the Indian’s government Aatmanirbhar Bharat Initiative.
Furthermore, the halogen lamps segment is expected to grow at a considerable growth rate during the projected period due to its wide adoption in a variety of applications including large film projectors, searchlights, and floodlights. In addition, the wide acceptance of halogen lamps for automotive solutions due to their lower cost benefits and lesser energy consumption compared to incandescent bulbs is propelling the segment’s growth.
Entertainment segment held the largest market revenue share in 2021
The entertainment segment led the market, in 2021, with a holding of significant revenue share and is likely to register considerable growth over the anticipated period. The growth of the segment market can be attributed to the high dependence of the entertainment industry on cinematography & photography lighting. In addition, the growing number of events, award shows, and concerts organized in the industry is also a key reason behind the growth of the segment market.
The purification segment is expected to expand at the fastest growth rate throughout the forecast period, which is accelerated by the use of these lights in the purification of water, air, & surfaces. The demand for water purification has increased significantly across the globe, due to the depletion of water sources and the recycling of wastewater, and the rising prevalence air purification of air in the pharma sector is likely to boost the demand and growth of the market.
North America dominated the global market for specialty lighting in 2021
The North America region dominated the market in 2021, accounted for a considerable market share, and is expected to maintain its dominance over the study period. The growth of the regional market is mainly driven by the rapid expansion of various end-use industries like entertainment along with the availability of robust healthcare systems in the countries like U.S. and Canada. Additionally, the presence of major lighting companies in the region offering services in various applications including horticulture, water treatment, medical, seaports, aquarium, and entertainment is influencing the market growth at a rapid pace in the region.
Asia Pacific is projected to emerge as the fastest-growing region over the coming years due to rapid growth in the entertainment industry in counties like India, China, and Indonesia. In addition, an extensive rise in the usage at the harbor to lighten up space and enhanced safety and productivity during night operations is supporting the specialty lighting market in the region.
Competitive Insight
Some of the major players operating in the global market include Signify, OSRAM, Smart Global Holdings, Advanced Specialty Lighting, Herbert Waldmann, Brandon Medical, Integra Lifesciences, American Ultraviolet, Advanced UV, Guangzhou Yajiang Photoelectric Equipment Co., Altman Lighting, Chauvet & Sons, Technomed India, Advanced Stage Lights, Crystal IS, and Martin Professional.
Recent Developments
In September 2022, NANLITE introduced its new twin-colored LED light fitted into small studio configurations. It is a lightweight LED fixture with a power consumption of 70W and its color temperature is adjustable between 2700 and 6500K. The product includes 2 operating modes, FM mount, 12 built-in lighting effects, and Bluetooth connectivity.
In May 2022, Halonix Technologies, a rapidly growing lighting company based in India, announced the launch of its new Styl LED Batten. The product offers three different modes including RelaxMode, Work Mode, & Designer Mode in one Batten.
Specialty Lighting Market Report Scope
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Report Attributes |
Details |
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Market size value in 2022 |
USD 5,447.18 million |
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Revenue forecast in 2030 |
USD 8,580.93 million |
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CAGR |
5.8% from 2022 – 2030 |
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Base year |
2021 |
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Historical data |
2018 – 2020 |
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Forecast period |
2022 – 2030 |
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Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
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Segments covered |
By Light Source, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Signify, OSRAM, Smart Global Holdings, Advanced Specialty Lighting, Herbert Waldmann, Brandon Medical, Integra Lifesciences, American Ultraviolet, Advanced UV, Guangzhou Yajiang Photoelectric Equipment Co., Altman Lighting, Chauvet & Sons, Technomed India, Advanced Stage Lights, Crystal IS, and Martin Professional. |
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