LED Explosion Proof Lighting Market Forecast
10-Year Market Forecast – Explosion-proof LED lighting Fixtures to reach $787.8 million in 2026.
Aptos, CA, September 07, 2017 --(PR.com)-- 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 Explosion-Proof Lighting.
According to the ElectroniCast report, last year (2016), the global consumption value of LED-based luminaires used in explosion-proof lighting reached $668.6 million. The consumption (use) value is forecast to increase at an average annual rate of 2.15 percent during the 1st-half of the forecast period (2016-2021) to reach $743.6 million in the year 2021, and then at a slower annual pace (1.16%) during the 2nd-half (2021-2026), to reach $787.7 million in 2026. The consumption value is forecast to increase with much faster rising quantity growth slightly offset by declining average selling prices.
ElectroniCast defines explosion proof lights (also known as hazardous location lighting and intrinsically safe lights) as lighting products, which are certified in accordance with and compliant to International regulative and safety standard bodies for use in areas where flammable petrochemical vapors and/or pulverized dust exist or have the potential to exist.
Unsafe lighting is one of the most common potential sources of ignition. Working environments that contain explosive gases or dust are extremely volatile environments. All it takes is a single spark to cause an explosion. A variety of lights are available that are considered explosion proof lighting because they prevent any possible ignition sources from being exposed to the air.
Low energy light fittings can help to prevent explosions because they do not produce enough energy to ignite source materials. This intrinsically safe equipment, though, can sometimes provide low quality lighting.
In the process of this market research project, in addition to interviewing existing customers and potential customers of LED-based explosion-proof lighting, ElectroniCast Consultants also studied over 70 lighting manufactures with various ranges of hazardous area lighting products, which are suited to use in high-risk areas.
The market forecast is also segmented into the following product-type:
· Spot, Flood and General-Area
· Linear: Tube and String/Strip
· Small portable-type: Flash lights, wearable head-light
· Specialty, Panel and Miscellaneous
The Specialty, Panel and Miscellaneous category is forecast to increase at the fastest pace during the 1st-half of the forecast (2016-2021) with an average annual growth rate of 12.85 percent. “This relatively fast growth is mainly attributed to the fact that we expect manufactures to react and 'design-in' a LED-based solution to a lighting situation already served by legacy (incumbent) technology,” according to the market study.
Market forecast data in this study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.
According to the ElectroniCast report, last year (2016), the global consumption value of LED-based luminaires used in explosion-proof lighting reached $668.6 million. The consumption (use) value is forecast to increase at an average annual rate of 2.15 percent during the 1st-half of the forecast period (2016-2021) to reach $743.6 million in the year 2021, and then at a slower annual pace (1.16%) during the 2nd-half (2021-2026), to reach $787.7 million in 2026. The consumption value is forecast to increase with much faster rising quantity growth slightly offset by declining average selling prices.
ElectroniCast defines explosion proof lights (also known as hazardous location lighting and intrinsically safe lights) as lighting products, which are certified in accordance with and compliant to International regulative and safety standard bodies for use in areas where flammable petrochemical vapors and/or pulverized dust exist or have the potential to exist.
Unsafe lighting is one of the most common potential sources of ignition. Working environments that contain explosive gases or dust are extremely volatile environments. All it takes is a single spark to cause an explosion. A variety of lights are available that are considered explosion proof lighting because they prevent any possible ignition sources from being exposed to the air.
Low energy light fittings can help to prevent explosions because they do not produce enough energy to ignite source materials. This intrinsically safe equipment, though, can sometimes provide low quality lighting.
In the process of this market research project, in addition to interviewing existing customers and potential customers of LED-based explosion-proof lighting, ElectroniCast Consultants also studied over 70 lighting manufactures with various ranges of hazardous area lighting products, which are suited to use in high-risk areas.
The market forecast is also segmented into the following product-type:
· Spot, Flood and General-Area
· Linear: Tube and String/Strip
· Small portable-type: Flash lights, wearable head-light
· Specialty, Panel and Miscellaneous
The Specialty, Panel and Miscellaneous category is forecast to increase at the fastest pace during the 1st-half of the forecast (2016-2021) with an average annual growth rate of 12.85 percent. “This relatively fast growth is mainly attributed to the fact that we expect manufactures to react and 'design-in' a LED-based solution to a lighting situation already served by legacy (incumbent) technology,” according to the market study.
Market forecast data in this study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.
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ElectroniCast Consultants
Theresa Hosking
831-708-2381
www.electronicastconsultants.com
Theresa Hosking
831-708-2381
www.electronicastconsultants.com
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