ElectroniCast
montgomery@electronicast.com
10-Year Market Forecast –
Hazardous Area LED luminaires reached $577.81 million in 2022
June 21, 2023 -- ElectroniCast Consultants, a leading market research consultancy, today announced the release of their market forecast study of the worldwide use of light-emitting diode-lighting (LED) luminaries (fixtures with lamp/light source) in hazardous location lighting.
“Last year (2022), the global consumption value of LED-based luminaires for use in hazardous location lighting (explosion-proof and other) reached $577.81 million,” said Stephen Montgomery, president of ElectroniCast.
“The consumption (use) value is forecast to increase at an average annual rate of 6.8% during the 1st-half of the forecast period (2022-2027) to reach $803.78 million in the year 2027, and then at a slower (more mature) annual pace (3.9%) during the 2nd-half (2027-2032), to reach $971.67 million in 2032,” Montgomery added.
Unsafe lighting is one of the most common potential sources of ignition causing an explosion. Working environments that contain explosive gases or dust are extremely volatile environments. A variety of luminaires (light fixture + LED light source) are available that are considered suitable for hazardous locations since they prevent any possible ignition sources from being exposed to the air. In various lighting applications, hazardous locations are defined as areas that are at risk of fire or explosion due to the combined presence of electrical equipment and flammable gases or vapors, flammable liquids, combustible dust, ignitable fibers, or other substances.
In the process of this market research project, in addition to interviewing
existing customers and potential customers of LED-based hazardous location
lighting, ElectroniCast also studied lighting manufacturers with various ranges
of hazardous area lighting products. The luminaires are designed for locations
where explosive gases and dust are found, providing suitable lighting without
enabling a risk of explosion.
The continued acceptance of solid-state lighting (SSL) light emitting
diodes (LEDs) in the general lighting industry continues to push
lighting-industry vendors, as well as end-users, to consider innovative
solutions (new products) to adopt hazardous location LED lighting
solutions.
The following regions are quantified in this study report:
- America (North, Central, and South America)
- EMEA (Europe, Middle East, and Africa)
- APAC (Asia Pacific)
This market forecast is presented for four (4) major end-user group
(sub-application) categories:
·
Power Plants, Pumping
Stations, Substations
·
Military Bases, Airports, and Other Transportation Facilities
·
Gas (service) Stations,
Paint-Spray Booths, and Other Commercial/Industrial
·
Oil Fields, Oil Refineries,
Offshore Oil Platforms, Mining, and Other Similar
“The Gas (service) Station, Paint Spray Booth, and Commercial/Industrial category is expected to hold the lead in relative
market share of global consumption throughout the forecast period,” Montgomery
added.
The market forecast is also segmented into the following product-type:
·
Spot,
Flood, and General-Area
·
Linear:
Tube and String/Strip
·
Small
portable-type: Flashlights, wearable head-light
·
Specialty,
Panel, and Miscellaneous
Consumption Value Forecast Market forecast data in this study report refers
to consumption (use) for a particular calendar year; therefore, this data is
not cumulative data. Last year (2022),
the global consumption value of LED-based luminaires for use in hazardous
location lighting (explosion-proof and other) reached $577.81 million. The consumption (use) value is forecast to increase
at an average annual rate of 6.8% during the 1st-half of the forecast
period (2022-2027) to reach $803.78 million in the year 2027, and then at a slower
(more mature) annual pace (3.9%) during the 2nd-half (2027-2032), to
reach $971.67 million in 2032. [1]
montgomery@electronicast.com
[1] All values and prices in this report are at factory as-shipped
levels and are in current dollars, which include the effect of a forecasted 5 percent
annual inflation rate over the forecast period.
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